A&P committee granted approval to hire counsel, financial adviser

By Mark Reccek

Bethlehem, Pa., Sept. 23 – The Great Atlantic & Pacific Tea Co. Inc.’s (A&P) official committee of unsecured creditors received court approval to hire Pachulski Stang Ziehl & Jones LLP as legal counsel and Zolfo Cooper LLP as financial adviser, both retroactive to July 24, according to Tuesday filings with the U.S. Bankruptcy Court for the Southern District of New York.

As previously reported, Pachulski Stang Ziehl & Jones’ attorneys will assist, advise and represent the committee in its consultations with debtors regarding the administration of the case; analyze the debtors’ assets and liabilities; and advise the committee on issues concerning the appointment of a trustee or examiner.

Zolfo Cooper will be responsible for advising the committee regarding the sale of the debtors’ business or assets, including communicating with potential bidders, evaluating bids and attending the sale auction and sale hearing; monitoring the debtors’ cash flow and operating performance; analyzing and commenting on operating and cash flow projections, business plans, operating results and financial statements; analyzing claims and performing investigations; and attending meetings on behalf of the debtors.

Pachulski Stang Ziehl & Jones attorneys and paralegals will be paid an hourly rate between $305 and $995.

Zolfo Cooper will be paid an hourly rate between $60 and $925.

Great Atlantic & Pacific Tea, a Montvale, N.J.-based supermarket chain, filed for bankruptcy on Dec. 12, 2010. Its Chapter 11 case number is 10-24549.

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