Judge Chides Feds For Not Revealing Bill-Padding

Law360, New York (August 30, 2007, 12:00 AM EDT) -- The bankruptcy judge for W.R. Grace & Co. on Wednesday criticized federal prosecutors for not alerting her to allegations that accounting firm L. Tersigni Consulting PC was illegally padding bills while advising asbestos claimants in large Chapter 11 cases.

Judge Judith K. Fitzgerald said at a hearing that the government's silence had “potentially cost this estate millions of dollars” and that it was improper for prosecutors to have kept quiet on the findings.

As she signed off on approving Charter Oak Financial Consultants LLC as the...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.