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Mckinsey Agrees to Pay $15 Million to End Bankruptcy Probe (1)

Feb. 19, 2019, 7:20 PM

McKinsey & Co. agreed to pay $15 million to end a probe by the U.S. Trustee into whether the global consulting giant violated disclosure rules designed to prevent conflicts of interest in corporate bankruptcies, a federal judge said in a court filing.

Under the terms, McKinsey didn’t admit wrongdoing and the U.S. Trustee agreed to drop its objections to fees charged by the company’s bankruptcy unit in three Chapter 11 cases. The U.S. Trustee is an arm of the Department of Justice that monitor’s bankruptcies to ensure compliance with federal law.

U.S. Bankruptcy Judge Marvin Isgur had been mediating a ...