Edgenet noteholder committee seeks approval to employ legal counsel

By Kali Hays

New York, April 3 - Edgenet, Inc.'s official committee of noteholders requested approval to hire Morris James LLP and Cooley LLP as its legal counsel during the company's Chapter 11 case, according to two April 2 filings with the U.S. Bankruptcy Court for the District of Delaware.

The committee asked that the hiring of Morris James be retroactive to March 17 and the hiring of Cooley be retroactive to March 18.

The committee selected Morris James and Cooley based on the firms' experience with Chapter 11 reorganizations and because both firms have experience practicing before the Delaware Bankruptcy Court.

Both firms will assist the committee in its analyses of the company's financial position and proposed reorganization plan, while also representing the committee in court and assisting in its negotiations with the company.

Morris James employees with primary responsibility over the case will be paid an hourly rate between $440 and $605, and Cooley employees will be paid an hourly rate between $375 and $895.

Edgenet, an Atlanta-based provider of cloud-based content, applications and services, filed for bankruptcy on Jan. 14. The Chapter 11 case number is 14-10066.

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