A federal judge dismissed claims on Monday by turnaround pioneer Jay Alix that M...
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.
The decision is part of a larger battle between McKinsey and Alix that has been waged since at least 2016 across multiple courts. Alix has said he is fighting for the integrity of the bankruptcy system, while McKinsey has said Alix is using the courts to try to stifle competition. “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.
Jay Alix noted in a statement that Furman did not rule on the merits and said he would continue to pursue similar allegations in the bankruptcy case of Westmoreland Coal Co. “McKinsey’s contention that its disclosures in bankruptcy cases always have complied with the law is not credible,” Alix said. 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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