McKinsey Drops Westmoreland Fees In US Trustee Deal
By Rick Archer (December 3, 2020, 8:16 PM EST) -- The U.S. Trustee's Office announced Thursday that consulting giant McKinsey & Co. has agreed to end its request for fees and expenses in Westmoreland Coal Co.'s Chapter 11 and settle the government's claims that it failed to disclose conflicts of interest.
The trustee's office and McKinsey submitted to a Texas bankruptcy court a term sheet that would see McKinsey abandon a two-plus-year quest for compensation for its work as Westmoreland's Chapter 11 consultant and agree to disclose connections involving confidential clients and affiliated entities in future cases.
"This settlement ensures that McKinsey is held accountable for its conduct in this case,"...
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