Jefferies Fights to Reinstate Retention in Linqto Bankruptcy

Jefferies Financial Group urged a court to review an order that revoked its role in the bankruptcy of collapsed private investment startup Linqto Texas LLC.

The investment bank argued that objections only surfaced more than a month after its retention was approved by a judge, when Linqto itself and an unsecured creditors’ committee moved to vacate the order, according to a motion filed Thursday in the US Bankruptcy Court for the Southern District of Texas.

Linqto, which filed for Chapter 11 bankruptcy in July, sought to hire Jefferies that same month to arrange financing, develop a potential restructuring transaction, and ...