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The nearly three-decade-old bankruptcy and reorganization of comic book giant Marvel produced a company that has become a major force in Hollywood, but it also led to an enduring legal precedent on conflict-of-interest standards for bankruptcy professionals that is still cited today.

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Ira Herman, a bankruptcy partner with Blank Rome, said&nbsp;the ruling brought needed clarity to the issue of counsel conflicts, establishing that more than the appearance of conflict was needed to object to a professional's retention. "It's a practical matter where there are cases where there's no law firm that doesn't have something,"&nbsp;he said.

On the flip side, any firm big enough to take on giant bankruptcies like General Motors or Lehman Brothers would have had dealings with multiple parties in interest,&nbsp;according to Herman. "As a practical matter they could never find counsel, except a boutique,"&nbsp;he said.

To read the full article, please click&nbsp;<a href="https://www.law360.com/bankruptcy-authority/articles/1891262">here</a>.

"More than Just Superheroes: Marvel Inked Ch. 11 Legacy," by Rick Archer was published in&nbsp;<a href="https://www.law360.com/bankruptcy-authority/articles/1891262">Law360 Bankruptcy Authority</a>&nbsp;on October 18, 2024.

More than Just Superheroes: Marvel Inked Ch. 11 Legacy

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More than Just Superheroes: Marvel Inked Ch. 11 Legacy

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