Milbank Resolves Objection, Approved as Edgio Bankruptcy Counsel

Milbank LLP was approved to serve as lead bankruptcy counsel to media content delivery company Edgio Inc. after withdrawing its representation of company officers and directors in pending shareholder litigation.

Judge Karen B. Owens of the US Bankruptcy Court for the District of Delaware signed an order Tuesday approving Edgio’s application to hire Milbank in Chapter 11, putting to rest an issue that initially raised concerns from the Justice Department’s bankruptcy monitoring program.

The US Trustee last week objected to the application, arguing that the firm would have conflicting loyalties to Edgio’s bankrupt estate and to individuals accused by shareholders ...