BearingPoint Seeks To Avoid Indemnifying Directors

Law360, New York (April 13, 2009, 12:00 AM EDT) -- Bankrupt technology consulting firm BearingPoint Inc. and its unsecured creditors have asked a court to rule that the company does not need to indemnify its managing directors for legal defense costs.

In a motion filed Friday in the U.S. Bankruptcy Court for the Southern District of New York, the official committee of BearingPoint's unsecured creditors asked the court to reconsider a March 30 order authorizing the company to assume agreements with its managing directors.

The committee is asking the court to vacate that order with respect...
To view the full article, register now.