KPMG Tax Shelter Trial Stalls Over Legal Fees

Law360, New York (November 15, 2006, 12:00 AM EST) -- In the latest twist in the complex KPMG LLP tax shelter case, a federal judge has indefinitely postponed the trial of 16 former executives in light of a dispute over whether the accounting firm should continue to fund the defendants’ legal expenses.

The ruling, handed down late on Monday by Judge Lewis A. Kaplan in the U.S. District Court for the Southern District of New York, barred the criminal trial from moving forward until the issue of legal fees is resolved, stating that it is “impossible...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.