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IN RE JOAN AND DAVID HALPERN INC.

No. 00-10961(SMB).

248 B.R. 43 (2000)

In re JOAN AND DAVID HALPERN INCORPORATED, Debtor.

United States Bankruptcy Court, S.D. New York.

April 4, 2000.

Attorney(s) appearing for the Case

Togut, Segal & Segal (Albert Togut, Frank A. Oswald, of counsel), New York City, for Debtor.

Hahn & Hessen (Mark T. Power, of counsel), New York City, for Official Committee of Unsecured Creditors.

Dewey Ballantine (Stuart Hirshfield, of counsel), New York City, for Newmark Retail Financial Advisors LLC.

United States Trustee (Wendy Rosenthal, of counsel), New York City.

MEMORANDUM DECISION REGARDING AGREEMENT TO INDEMNIFY DEBTOR'S FINANCIAL ADVISORS

STUART M. BERNSTEIN, Chief Judge.

The debtor has applied pursuant to 11 U.S.C. § 327(a) to retain Newmark Retail Financial Advisors LLC ("Newmark") as its financial advisor. The retention agreement contains a provision obligating the debtor to indemnify Newmark for liability relating to its engagement excluding only liability based on bad faith, gross negligence...

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