WILMINGTON, Del: A federal judge dismissed claims on Monday by turnaround pioneer Jay Alix that McKinsey & Co violated racketeering laws when the consulting firm expanded into advising bankrupt U.S. companies.
Alix said that McKinsey's bankruptcy work was a"criminal enterprise" that generated an unlawful profit of at least US$101 million, at the expense of AlixPartners, the firm Alix founded. "In sum, the link between McKinsey’s allegedly unlawful conduct and AlixPartners’ alleged injury is too remote, contingent, and indirect to sustain a RICO claim," wrote Furman.Furman asked for further briefing on three other claims brought under state law, including allegations that McKinsey failed to exit the restructuring business as promised by the head of the firm in a private meeting with Alix.
Lawyers and other professionals seeking to work for a bankrupt company are required to disclose their connections to the company, its creditors and any other party in interest in a Chapter 11 case.
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