Heller’s creditors may sue accounting firm Ernst & Young for failing to raise red flags on its audit of the firm’s 2007 financials, according to a bankruptcy liquidation plan and disclosure filed on Thursday just before a midnight deadline.

Financial irregularities derailed at least one merger for Heller, according to sources. They are also being used by creditors to build a fraudulent-transfer case against former shareholders.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]