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Bond insurer attorneys barred from San Bernardino bankruptcy
Source: Reuters
Bond insurer attorneys barred from San Bernardino bankruptcy
By Tim Reid
LOS ANGELES | Thu Jun 13, 2013 7:25pm EDT
(Reuters) - The judge overseeing the bankruptcy of San Bernardino, California, on Thursday disqualified a law firm from representing a major bond insurer in the case, because she said some of its lawyers had "switched sides."
Federal Bankruptcy Judge Meredith Jury said the law firm of Winston & Strawn can no longer represent one of the city's creditors, bond insurer National Public Finance Guarantee Corp.
She ruled that because Winston recently hired attorneys who had worked on the case for Calpers - the state pension fund and a direct adversary of National in the proceedings - the entire firm of Winston & Strawn should be disqualified.
Calpers, America's biggest pension fund and San Bernardino's biggest creditor, had asked the judge to ban Winston & Strawn after it hired several attorneys who had been working for Calpers in the bankruptcies of San Bernardino and Stockton, another California city seeking Chapter 9 protection.
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By Tim Reid
LOS ANGELES | Thu Jun 13, 2013 7:25pm EDT
(Reuters) - The judge overseeing the bankruptcy of San Bernardino, California, on Thursday disqualified a law firm from representing a major bond insurer in the case, because she said some of its lawyers had "switched sides."
Federal Bankruptcy Judge Meredith Jury said the law firm of Winston & Strawn can no longer represent one of the city's creditors, bond insurer National Public Finance Guarantee Corp.
She ruled that because Winston recently hired attorneys who had worked on the case for Calpers - the state pension fund and a direct adversary of National in the proceedings - the entire firm of Winston & Strawn should be disqualified.
Calpers, America's biggest pension fund and San Bernardino's biggest creditor, had asked the judge to ban Winston & Strawn after it hired several attorneys who had been working for Calpers in the bankruptcies of San Bernardino and Stockton, another California city seeking Chapter 9 protection.
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Read more: http://www.reuters.com/article/2013/06/13/us-usa-municipality-sanbernardino-idUSBRE95C1HG20130613
