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麦肯锡’s Managed Accounts Come Under Scrutiny in Trial

Jay Alix and U.S. Trustee are asking for the global consultancy to be kicked off the Westmoreland bankruptcy because of conflicts.

全球咨询公司麦肯锡未能披露有关其内部投资基金,MIO合作伙伴的托管账户的信息,周三早上在休斯顿联邦破产审判中举办了中心舞台。

审判最终最终结束了麦肯锡和杰伊阿里克斯之间的争议,该公司在破产咨询业务中创立了麦肯锡的竞争对手的退休周转先锋。

多年来,Alix通过他的投资合作伙伴关系Mar-Bow值合作伙伴认为,麦肯锡未能披露其与债务人的联系,该债务人将根据法律要求申请在破产程序中代表。结果,根据Alix的说法,它已经隐藏了不合解的利益冲突。

In this case, bothAlix和美国受托人,一家司法部门监督破产案件的责任,已要求休斯顿法官大卫琼斯取消麦肯锡作为威斯马尔兰煤炭顾问,该煤炭于2018年提起破产。

尽管麦肯锡在这种情况下第三次尝试进行足够的披露,但它仍然没有足够的事情,既没有足够的方式,都没有足够的方式,鲍船和美国受托人声称。

In its latest effort, McKinsey “searched less than half the firm’s global database,” said Sean O’Shea, lawyer for Mar-Bow, in his opening statement, who referred to McKinsey’s posture as “catch me if you can.”

Many of McKinsey’s undisclosed connections are in the investment fund, specifically the separately managed accounts that MIO has with hedge funds.

“这类信息类型应该披露,”美国受托律师休伯恩斯坦说。“这不是猫和老鼠的游戏。”

麦肯锡has long claimed that 90 percent of MIO’s investments are made with third-party hedge funds, and MIO has no knowledge or control over those funds’ investments.

But, as亚博赞助欧冠此前报道,其中约有30%至40%的托管账户 - 在管理层的资产中大约是MIO的260亿美元的一半。亚博赞助欧冠机构投资者常常选择投资单独托管账户,而不是混合的对冲基金,因此他们可以对投资进行更多控制。II以前独家记录了MIO的控制的证据。

[II深潜:故事麦肯锡不想写]

现在似乎有关托管账户的更多信息将在审判中出来,因为Mio首席投资官Todd Tibbetts计划于周四作证。

过去,“麦肯锡专门告诉我们,我们无法找到90%的内容,”美国受托人的伯尔尔斯坦说。

But he said that depositions of executives have shown that 30 to 40 percent is invested in managed accounts, and “they know exactly what those are invested in, and they could have looked them up. They have it in their records, they chose not to disclose that.”

伯尔尼斯坦加入了O'Shea,争论全球咨询公司不会因这些缺陷而被聘用。

“MIO有一个分类帐,用于其管理账户中的每一条安全性,”O'Shea说,但当麦肯锡对其作为威斯马尔兰顾问的角色发生冲突时,这些投资账户被排除在外。

“他们承认,MIO投资组合经理与第三方经理谈论投资,”他说。“那些没有被搜查。”

麦肯锡2019年与美国受托人结算有关涉嫌缺乏与威斯特马尔德联系的义务以及其他两项破产。麦肯锡在威斯马尔兰案中在采用“议定书”后在威斯马尔兰案例中发表了另一个广泛的宣言,以帮助它确定披露遵守破产规则所需的内容。

但是MIO的单独托管账户是坚定不移的地方。

麦肯锡认为,MIO与麦肯锡单独运行,通过“信息障碍”与顾问分开,麦肯锡和MIO都没有深入了解第三方经理的投资。

“MIO is limited as an investment manager,” said Faith Gay, the attorney representing McKinsey. “It’s not in the business of stock picking.”

She added that “Mar-Bow, whether talking about MIO or anything else, has never given us concrete facts about some concrete connections that create this adverse connection.”

在审判期间,许多高调的麦肯锡合作伙伴将在试验期间进行作证,预计将在下周延伸到下周。除了Tibbetts,Mio的总法律顾问凯西林杉矶和麦肯锡高级合作伙伴Robert Sternfels将在立场上。

前全球总经伙伴莫尼克·巴顿现在加拿大加拿大中国大使将通过他的视频沉积作证。亚慱体育app

Alix first approached Barton about his concerns regarding McKinsey’s lack of disclosures in 2014, and the two men had 11 meetings in which Alix tried to convince him to change McKinsey’s practices. When McKinsey did not do so, Alix created Mar-Bow to file his objections in court.

“巴顿会说他的电子邮件失踪了,”奥尔西斯告诉法院,说他们被“被摧毁”。然而,麦肯锡已经拥有“能够为其他员工返回2014的电子邮件,”他指出。

麦肯锡has already completed its work for Westmoreland, and if they don't win this trial, they will be out several million dollars for work already performed. Attorney Gay said the firm is spending “tens of millions of dollars” in legal fees on this case. Despite the high cost, she said McKinsey wants to clear its name.

“我们花了很长时间景观,我们会尽一切努力,”她补充道。

“谁是正确的或错的......就是令人难以置信的昂贵,”琼斯法官说,加入了从事破产案件的大多数各方都买不起这么努力。

琼斯呼吁审判到了这个问题的底部。

“I don’t want to ever do this again,” he said during opening statements.