Giuliani Firms on Two Sides in Bankruptcy
Posted May 7, 2007 10:01 AM CDT
By Debra Cassens Weiss
Two companies owned by GOP presidential candidate Rudolph Giuliani did not disclose a potential conflict of interest to a bankruptcy judge, according to the Wall Street Journal (sub. req.).
Giuliani Capital Advisors provided restructuring advice to Delta Air Lines, while another Giuliani company was employed by a Delta creditor, the newspaper says.
Bankruptcy law requires companies to fill out a form detailing any connections with parties before a bankruptcy court. The newspaper found no evidence Giuliani Capital intervened to secure more money for the creditor, Command Security Corp.
Command Security had hired Giuliani Security & Safety to help it find new business, including contracts with Delta. Chairman Bruce Galloway says it was a successful deal.