Consulting company lost a round in its long-running conflict-of-interest feud with retired restructuring adviser Jay Alix when a judge reopened the bankruptcy case of coal miner Alpha Natural Resources that was closed last June.
Alix’s claims were “some of the most serious allegations I’ve ever seen,” U.S. Bankruptcy Judge Kevin Huennekens in Virginia said Jan. 9 at a hearing in Richmond.
Reopening the case will allow the judge to decide whether McKinsey did anything wrong.
Alix and the Office of the U.S. Trustee argue that McKinsey & Co. should be forced to give up advisory fees it earned in the...