Deloitte Objects To BearingPoint Agreement

Law360, New York (June 29, 2009, 12:00 AM EDT) -- Deloitte & Touche LLP has objected to a cash collateral agreement between bankrupt BearingPoint Inc., its unsecured creditors and its secured lenders over concerns the deal could deprive thousands of employees of vacation benefits and hit Deloitte with significant costs.

In an objection filed Friday in the U.S. Bankruptcy Court for the Southern District of New York, Deloitte claimed that the proposed settlement was an attempt to revisit a contested employee issue that has already been resolved.

As a result of Deloitte's $350 million purchase of...
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