A US judge on Wednesday dismissed a lawsuit claiming that McKinsey’s bankruptcy practice was a “criminal enterprise” that flouted the conflict of interest rules governing corporate restructurings, delivering a significant victory for the consulting firm in a legal feud waged by turnaround specialist Jay Alix.
McKinsey, which entered the restructuring business as a competitor to AlixPartners in 2001, has maintained the claims are without merit and said on Wednesday it was “glad the case has once again been dismissed”. Furman ruled that AlixPartners did not expressly assign the rights to any racketeering claims to Alix, which forced him to throw out the suit.
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