Bearingpoint liquidating trust agreement
The Company said its net loss for the first quarter ended 31 March 2007 narrowed as revenue grew and costs declined.
The company recorded a net loss of .7 million, or 29 cents per share for the first quarter, compared with a loss of .7 million, or 34 cents per share, in the same period a year earlier.
and is one of the largest management consultancies in Europe.
The firm originated from the consulting services operations of KPMG; they became a distinct business unit in 1997, and demerged entirely in 2000.
“This settlement will generate a significant additional recovery for Bearing Point’s creditors, and it culminates a multi-year effort to bring this litigation to resolution,” said John De Groote, President of John De Groote Services, LLC.“Our client is very pleased with the terms of the settlement,” said Robert Manley, lead counsel from Mc Kool Smith. Over the past seven years, the firm has secured eight nine-figure jury verdicts, as well as seven eight-figure jury verdicts.“This was a complex case, and we are satisfied that the matter was brought to a favorable conclusion.” The Mc Kool Smith team representing the Trust included attorneys Robert Manley, Lewis T. The firm has also won more describes as “one of the biggest law firm success stories of the past decade.” Mc Kool Smith represents leading clients in complex commercial litigation, intellectual property, bankruptcy, and white collar defense matters.“If all goes as planned we’ll be in a position to distribute the proceeds from this settlement, net of litigation expenses and other costs, by midsummer.” Three former directors of Bearing Point have agreed to dismiss a lawsuit they recently filed in Virginia against De Groote.Stay informed and up-to-date on your network with Rel Sci news and business alerting service.