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Unilife Bankruptcy Objection Filed

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Sanofi Winthrop Industries filed with the U.S. Bankruptcy Court an objection to Unilife’s official committee of unsecured creditors’ motion to retain Lowenstein Sandler as counsel.

The objection asserts, “Given Lowenstein Sandler’s previous representation of Sanofi in connection with the Debtors and Lowenstein Sandler’s failure to seek – let alone receive – a written waiver of that conflict of interest from Sanofi, the proposed retention as counsel to the Committee should be denied….Indeed, it was Mr. Etkin himself – the declarant espousing Lowenstein Sandler’s disinterestedness and lack of disqualifying conflicts – who represented Sanofi in connection with its relationship with the Debtors.”

In addition, “The application proposes that Schnader Harrison will serve as conflicts counsel, including with respect to matters related to Sanofi. This is not a sufficient remedy for the actual conflict of interest, given the role Sanofi is playing in these cases, including in the sale process. Sanofi is a central constituency in these cases and Mr. Etkin and Lowenstein Sandler are privy to Sanofi’s proprietary, confidential information and strategies in connection with these cases. Lowenstein Sandler’s past representation of Sanofi pertained to directly related matters, thus, neither Mr. Etkin nor Lowenstein Sandler would be able, as any other lawyer would not be able, to compartmentalize their knowledge of Sanofi’s confidential information from the broader Committee issues, and Sanofi issues, in these cases.”

Read more Unilife bankruptcy news.

The post Unilife Bankruptcy Objection Filed appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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