Birdsall Creditors Back Liquidation Amid Pay-To-Play Woes

Law360, New York (June 4, 2013, 2:49 PM EDT) -- A committee of unsecured creditors on Monday signed off on an expedited auction of bankrupt engineering firm Birdsall Services Group Inc.'s assets in New Jersey bankruptcy court, saying it was the best possible option available in the wake of a damaging $3.6 million pay-to-play settlement.

The unsecured creditors committee said the threat of pending and potential criminal charges against Birdsall and its executives for an alleged scheme to funnel donations to political campaigns to help win contracts, as well as the $3.6 million settlement with New...
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.