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McKinsey Discloses Client Relationships in Puerto Rico Bankruptcy

May 16, 2022, 11:30 PM

McKinsey & Co. disclosed its business-related connections to more than 2,000 parties in Puerto Rico’s bankruptcy proceedings, meeting a court-imposed deadline to comply with a new disclosure law incited by the consulting firm’s wide-reaching businesses.

McKinsey, like dozens of other firms working on the island’s insolvency proceedings, was required to disclose any potential conflicts of interest in accordance with the Puerto Rico Recovery Accuracy in Disclosures Act, signed into law earlier this year by President Joe Biden. PRRADA was inspired by revelations in 2018 that MIO Partners, a McKinsey investment subsidiary, directly held $20 million worth of Puerto Rican sales ...