Archives for: May 2006, 31

Bankruptcy judge allows USA Capital to keep two law firms

May 31st, 2006

A U. S. Bankruptcy Judge ruled that two separate law firms could continue representing five USA Capital subsidiaries for 90 days. The issue rose because of potential conflicts of interest, the firms represent multiple parties in the case.

"There will be conflicts in the future," the judge said, acknowledging Assistant U.S. Trustee Augie Landis' concerns about conflicts arising when a law firm represents multiple parties in the case."

"The judge referred to two USA Capital funds that pooled money from individual investors and made loans to borrowers, such as developers, who provided real estate as collateral."

The full article will be available on the Web for a limited time:

http://www.lasvegassun.com/sunbin/stories/nevada/2006/may/19/051910389.html

Pam

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