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Ironclad Performance Wear Bankruptcy Objection Filed

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The U.S. Trustee assigned to the Ironclad Performance Wear (ICPW) case filed with the U.S. Bankruptcy Court objections to 1) the official committee of equity security holders’ motion to retain Dentons US as counsel; 2) the official committee of unsecured creditors’ motion to retain Brown Rudnick as counsel and 3) the official committee of unsecured creditors’ motion to retain Province as financial advisor.

The Trustee argues, “The Denton Application caption indicates that it affects both debtors. The U.S. Trustee requests clarification that Denton is seeking to be employed only by the Official Committee of Equity Holders appointed in the Ironclad Performance Wear Nevada case (‘ICPW Nevada’), the case in which the Equity Committee was formed. The Province Application caption indicates that the Application is for both debtors. The Province Application notes that Province is discussing retention by the Equity Committee. Absent employment by the Equity Committee, the U.S. Trustee requests clarification that Province is seeking to be employed only by the Official Committee of Unsecured Creditors (‘OCC’) in Ironclad Performance Wear, California (‘ICPW California’), the case in which the OCC was formed.”

The objection continues, “In addition, because of the facts and circumstances of these jointly administered cases, the U.S. Trustee appointed two committees: the OCC in ICPW California and the Equity Committee in ICPW Nevada. Although each committee was appointed in only one of the two jointly administered cases with constituents of differing interests, there nonetheless appear to be certain overlapping issues. To the extent that duplication of services can be avoided through coordination of efforts, absent conflicting interests, the U.S. Trustee requests that the Applicants consider such coordination, including with the debtor in possession’s professionals.”

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The post Ironclad Performance Wear Bankruptcy Objection Filed appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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