Quiznos creditor committee authorized to hire legal, financial adviser

By Kali Hays

New York, May 13 - Quiznos LLC's official committee of unsecured creditors received court permission to employ Otterbourg PC and Cousins Chipman & Brown, LLP as its legal counsel and BDO USA, LLP as its financial adviser, according to separate orders from the U.S. Bankruptcy Court for the District of Delaware.

All three hirings are retroactive to March 26.

Otterbourg will act as lead counsel to the committee while Cousins Chipman & Brown will act as its local Delaware counsel, but both firms will advise the committee in negotiations with Quiznos, its analysis of the company's financial condition, as well as handling all necessary litigation and court appearances, according to a motion.

The committee chose Otterbourg and Cousins Chipman & Brown based on respective experience with complex bankruptcy cases.

Otterbourg employees responsible for the case will be paid an hourly rate between $275 and $940, and Cousins Chipman & Brown employees will be paid an hourly rate between $250 and $645.

The committee selected BDO as its financial adviser because of it experience with insolvency matters, and the firm will provide the committee with analysis of Quiznos' transactions with affiliated companies and financing institutions, analysis of financial ramifications of proposed transactions and claims analysis and assist in court preparation if necessary, according to a motion.

BDO employees will be paid an hourly rate between $200 and $795.

Quiznos, a Denver-based quick-service restaurant chain, filed for bankruptcy March 14. The Chapter 11 case number is 14-10543.

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