Quantum Foods committee looks to hire legal counsel, financial adviser

By Kali Hays

New York, March 26 - Quantum foods, LLC's official committee of unsecured creditors requested approval to hire Richards, Layton & Finger P.A. as legal counsel and Triton Capital Partners, Ltd. as its financial adviser, according to two March 25 filings with the U.S. Bankruptcy Court for the District of Delaware.

The committee asked that both hirings be retroactive to Feb. 27.

The committee selected RL&F based on its "experience and knowledge in the field of creditors' rights" but also because of the firm's experience before the Delaware court and its "proximity to the court and its ability to respond quickly to emergency hearings and other emergency matters," the filing stated.

The firm will prepare all necessary documents related to the case and assist the committee in consultations and negotiations with the debtors, analyze claims and assist in the investigation of the debtors' financial condition.

The four attorneys with primary responsibility for the committee will be paid an hourly rate ranging from $465 to $800.

Triton was selected for its experience in advising "financially distressed companies of all sizes across a wide array of industries."

Triton will advise the committee in its assessment of the debtors' financial performance, financial projections and any proposed debtor-in-possession financing, as well as review the company's sale process.

A hearing to approve the hirings is scheduled for April 21.

Quantum Foods, an Illinois-based provider of cooked beef, poultry and pork for school, military and retail outlets, filed for bankruptcy Feb. 18 in the U.S. Bankruptcy Court for the District of Delaware under Chapter 11 case number 14-10318.

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