Stanfield Capital Partners LLC wants to disqualify Milbank, Tweed, Hadley & McCloy from Meridian Automotive Systems Inc.’s contentious bankruptcy, alleging that the counsel to first-lien holders is privy to inside information that is undermining the hedge fund’s effort to provide exit financing.
The hedge fund wants Milbank removed as counsel to the ad hoc committee of first-lien holders due to a conflict the law firm developed from its initial retention by Stanfield, which is a second-lien holder, documents show.
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