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IN RE CAPITOL METALS CO., INC.

BAP No. CC-98-1266-MeKB, Bankruptcy No. LA 97-48259KM.

228 B.R. 724 (1998)

In re CAPITOL METALS CO., INC., Debtor. Official Committee of Unsecured Creditors, Appellant, v. ABC Capital Markets Group and Capitol Metals Co., Inc., Appellees.

United States Bankruptcy Appellate Panel of the Ninth Circuit.

Decided December 16, 1998.

Attorney(s) appearing for the Case

Marc J. Winthrop, Winthrop Couchot Professional Corp., Newport Beach, CA, for Official Committee of Unsecured Creditors.

Andrew A. Goodman, Greenberg & Bass, Encino, CA, for ABC Capitol Markets Group.

Before: MEYERS, KLEIN and BRANDT, Bankruptcy Judges.

OPINION

MEYERS, Bankruptcy Judge.

I

The bankruptcy court authorized Capitol Metals Co. ("Capitol" or "Debtor") to employ ABC Capital Markets Group ("ABC") as its exclusive financial advisor and investment banker. The Official Unsecured Creditors Committee ("Appellant") appealed the order on the grounds that ABC is not disinterested. We agree and REVERSE.

II

FACTS

In November 1995, the Debtor, ABC...

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