WASHINGTON AP – The SupremeCourt on Monday said it won’t consider a case brought by a bankrupt company that charged several large, well-known accounting firms and investment banks with enabling a fraudulent transaction that it says led to the company’s Chapter 11 filing.
Crown Paper Liquidating Trust, the bankruptcy trustee for Crown Vantage Inc., which went bankrupt in 2001, accused several companies and individuals, including Merrill Lynch & Co. Inc., PriceWaterhouseCoopers LLP and a unit of Credit Suisse Group, of approving a fraudulent transaction executed by Crown’s parent company at the time, James River Corp.
