“McKinsey has agreed to this settlement in order to move forward and focus on serving its clients,” a spokesperson for McKinsey said. “In reaching the agreement, McKinsey did not admit that any of its disclosures were insufficient or noncompliant, and the settlement does not in any way constitute an admission of liability or misconduct by McKinsey or any of its employees, officers, directors, or agents.”
Bankruptcy law requires all professionals working on a case to disclose business relationships so the courts and other parties can watch for conflicts of interest or movement of assets of the bankrupt companies.
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