Okay, this WSJ article is bananas. What are the chances that Jay Alix has a direct line in to Gerard Baker? Choice passage,
A Wall Street Journal analysis of disclosure filings in all 13 chapter 11 cases in which McKinsey’s restructuring unit, called McKinsey RTS, has participated shows the company routinely discloses far fewer names and descriptions of connections than other advisers.
McKinsey initially identified by name a total of 59 connections to participating debtors, creditors, lawyers and accountants in those cases. The roughly 45 other bankruptcy professionals involved in those cases, including law firms, accounting firms and restructuring advisers, reported more than 15,000 named connections in total. On average, McKinsey reported five such relationships per case compared with the other firms’ disclosures of 171 connections each.
Typically conflicts disclosures don’t figure as high drama warranting a major newspaper’s #longform front-page coverage.
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