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Mariaelena Gayo-Guitian; partner; Genovese Joblove & Battista; Fort Lauderdale

In May 2018, Jay Alix, the founder and now minority shareholder of consulting firm AlixPartners commenced an action against McKinsey & Co. in the U.S. District Court for the Southern District of New York alleging, among other things, that while serving as an adviser for debtors in several multimillion and multibillion-dollar Chapter 11 cases, McKinsey’s restructuring arm—known as McKinsey RTS—violated bankruptcy law by failing to disclose its financial and consulting relationships to creditors and other stakeholders to benefit the firm and its network of clients. Jay Alix also accuses McKinsey & Co, its affiliates and half a dozen individuals of violating the Racketeer Influenced and Corrupt Organizations Act (RICO) by failing to disclose disqualifying conflicts of interest in big bankruptcy cases.

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