Judge Upholds $32M Doosan Payment To Ingersoll-Rand

Law360, New York (March 17, 2011, 8:08 PM EDT) -- A New York state judge on Tuesday upheld accounting firm BDO Seidman LLP's decision that Doosan Infracore Co. Ltd. owes Ingersoll-Rand Co. Ltd. $31 million over post-transaction adjustments to a $4.9 billion acquisition in 2007.

Doosan had argued that the judgment by the accounting firm, which had been retained to help settle the matter, should be vacated until other issues in the case were litigated. But Judge O. Peter Sherwood said those issues were outside the purview of the accountants, in an order issued in the...
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.