Monitor Co. Gets Judge's Thumbs-Up For $116M Deloitte Sale

Law360, Wilmington (January 11, 2013, 9:52 PM EST) -- A Delaware bankruptcy judge gave his blessing Friday to consulting firm Monitor Co. Group LP's $116.2 million sale to rival Deloitte Consulting LLP, overruling creditors who protested that the deal included improper protections from clawback litigation for Monitor insiders.

After hours of witness testimony at a court hearing in Wilmington, U.S. Bankruptcy Judge Christopher S. Sontchi signed off on the deal. He agreed with Cambridge, Mass.-based Monitor that the releases shielding its partners from potentially $16 million in clawback claims, or avoidance actions, were critical to...
To view the full article, register now.