In the largest ever bankruptcy case - Worldcom - the bankruptcy attorney who was then currently representing one of the largest unaffiliated (unconflicted) claims traders (Next Factors, Inc.) petitioned the Court to be relieved from continuing as Next's counsel.  The lawyer admits that his reason for seeking permission to withdraw was that he did not want to follow the instructions of his client in seeking to have all potential conflicts between the multi-hundred million dollar fee earning lawyers and their hedge fund clients exposed.  You can't make this stuff up:  The lawyer tried to shake his client off by conveying a death threat during a conversation with the president of Next Factors.  A transcript of the conversation was attached to this filing and the attorney did not merely tacitly acknowledge that the transcript was accurate, he complained that "apparantly" the conversation was recorded without his knowledge.  This is better than a TV show.  People ask me: "but, umm, like wouldn't the government do something?"  Yes, each and every DOJ official, Judge, and officer of the court which learned of the exchange and underlying facts would have done something, provided that they remained true to their oaths to uphold the law, follow professional ethics codes, and defend the Constitution.  Sadly it appears that too many public officials connected to the multi-billion dollar bankruptcy industry hold their allegiances to their own families, bank accounts, racial agendas, and organized crime affiliates above all else.

This document is available at the USBC SDNY at the courthouse or on PACER under docket number (17315) or on BankruptcyMisconduct filename 17315NFObj.pdf