Caché committee looks to hire joint legal counsel, financial adviser

By Kali Hays

New York, March 12 – Caché Inc.’s official committee of unsecured creditors is seeking authorization to hire Bayard PA and Otterbourg PC as its joint legal counsel and Capstone Advisory Group, LLC as its financial adviser, according to separate March 12 motions with the U.S. Bankruptcy Court for the District of Delaware.

If approved, all three of the hirings will be retroactive to Feb. 12.

As joint counsel, Bayard and Otterbourg will advise the committee in its actions related to Caché’s bankruptcy case and its business operations, negotiate on behalf of the committee and attend court proceedings as necessary.

Bayard attorneys primarily responsible for the case will be paid an hourly rate between $450 and $880 and Otterbourg attorneys will be paid an hourly rate between $295 and $675, according to the motions.

In its role as financial adviser, Capstone will monitor Caché’s operations, review any offers for the company’s assets, advise the committee during its appraisal of any proposed financing or cash disbursements and prepare valuation analysis as needed.

Capstone advisers to the committee will be paid an hourly rate between $250 and $895.

A hearing to consider the hirings is set for April 1.

Caché is a mall-based chain retailer of formal womenswear based in New York. The Chapter 11 case number is 15-10172.

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