Letter to Senators Leahy and Sarbanes Re: Bankruptcy Provision
0303-conflict-of-interest-ltr.pdf | 114.3 KB
March 3, 2005
Letter suggesting strong support of amendment to strike a little noticed provision of pending bankruptcy legislation (S. 256) that would weaken current conflict-of-interest standards in the bankruptcy code. This provision would, for the first time, allow investment bankers to offer advice in bankruptcy restructuring cases about companies with which they have had a close financial relationship prior to bankruptcy. As advocates for small investors, we applaud you for moving to eliminate this significant threat to the interests of investors, employees and pensioners.