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Microcap & Penny Stocks : PLNI - Game Over

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To: scion who wrote (11385)9/26/2007 6:40:03 PM
From: scion   of 12518
 
Conflict of interest: Buried in Pro Mold Doc 213 is this statement –

In August 2006, this firm learned of a conflict of interest in its representation of Pro Mold’s parent, Plasticon.

What was the conflict of interest that was found subsequent to the 05/17/2007 Affidavit of Robert J. Brown?

Pro Mold Doc 213

3.2.1 Administrative Claims

The Administrative Claims as defined in the Plan are fees due to the Office of United States Trustee under Section 1930 of title 28 of the United States Code, and compensation and expenses due to the law firms and other professionals retained by the Debtor pursuant to orders of the Bankruptcy Court. Specifically, Robert J. Brown of the law firm of Wyatt, Tarrant and Combs LLC was retained by the Debtor to represent it in this Chapter 11 Case. In August 2006, this firm learned of a conflict of interest in its representation of Pro Mold’s parent, Plasticon. Accordingly, pursuant to Order of the Bankruptcy Court, Pro Mold engaged Ellen Arvin Kennedy and the law firm of Fowler Measle & Bell to represent it in this Chaper 11 Case.
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From Plasticon Doc 8-1

AFFIDAVIT OF ROBERT J. BROWN IN SUPPORT OF APPLICATION TO EMPLOY

The affiant, Robert J. BROWN, first being duly sworn, states and deposes as follows:

1. I am a partner in the law firm of Wyatt, Tarrant & Combs, LLP, 250 West Main Street, Suite 1600, Lexington, Kentucky 40507-1746. 1 am duly admitted to practice in the state of Kentucky and in the United States Bankruptcy Court for the Eastern District of Kentucky.

2. This AFFIDAVIT is being filed in accordance with 11 U.S.C. $5 327(a) and 329 and Federal Rules of Bankruptcy Procedure 2014 and 2016 in support of the Debtor's Application to Employ Wyatt, Tarrant & Combs, LLP, as attorney for the Debtor.

3. I have conducted a review of all creditors and equity security holders, attorneys, accountants and advisors of the Debtor and its related entities. Neither I, nor any attorney at the law firm of Wyatt, Tarrant & Combs, LLP, appears to have any connection with the Debtor, creditors, equity security holders, attorneys, accountants, advisors or any other party in interest in the Debtor's Chapter 11 case, except as follows:

(a) Wyatt, Tarrant & Combs, LLP, previously provided legal representation on behalf of the Debtor or its affiliates in connection with the following matters:

(i) Promotional Containers. Inc. v. Concrete Associates. Inc.. United States District Court. Eastern District of Kentucky. Case No. 5:04-CV-335. a patent infringement issue.

(ii) Promotional Containers, Inc. v. Aztec Concrete Associates. Inc., United States District Court, Eastern District of Kentucky, Case No. 5:04-CV-336, a patent infringement issue.

(iii) Promotional Containers, Inc. v. General Technologies, &, United States District Court, Eastern District of Kentucky, Case No. 5:04-CV-334, a patent infringement issue.

(iv) International Plastics Corp. v. Michael. et al., United States District Court, Eastern District of Kentucky, Case No. 5:06-CV-223, a contract dispute.

(v) Supply contract dispute against BlueLinx Corporation, not in litigation.

(b) Wyatt, Tarrant & Combs, LLP, has represented certain creditors of the debtor or its affiliates in unrelated matters, all of which are completed. Those creditors include AIG (American International Group), Anthem Blue Cross Blue Shield, All Points Capital Corp., Regions Morgan Keegan Trust, United Parcel Service, Automatic Data Processing, and Central Bank & Trust Co. None of such creditors has paid a significant portion of the firm's revenue at any time.

(c) Wyatt, Tarrant & Combs, LLP, has represented James N. Turek, Sr., who has waived any conflict which might appear from the firm's representation of the entities he controls. The firm will not represent Mr. Turek's interests as a creditor herein.
...

05/17/2007 8 Application to Employ Wyatt, Tarrant & Combs, LLP as attorney for Debtor. (Attachments: # 1 Proposed Order) (Brown, Robert) (Entered: 05/17/2007)
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