After Deloitte Sale, Monitor Co. Remnants Convert To Ch. 7

Law360, New York (August 22, 2013, 7:02 PM EDT) -- The bankruptcy of Monitor Co. Group LP has been converted to Chapter 7, as attorneys sweep up the remnants of the once powerful consulting firm following its $116.2 million sale to rival Deloitte Consulting LLP, according to a Thursday filing.

Monitor, joined by the unsecured creditors committee and secured lender Caltius Partners IV LP, had told a Delaware bankruptcy court that since there is no realistic prospect of the company’s rehabilitation in light of the Deloitte sale, a Chapter 7 conversion is the best path forward...
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