Emory Bankruptcy Developments Journal


Jay Alix


I am honored to be chosen for the Distinguished Service Award. I’m proud to say that I’ve been working in this honorable industry for over forty years. Indeed, I’m proud to say that I’ve worked with, or taught with, over 75% of your past twenty-one honorees. So, this award, and all it represents, is very meaningful to me. I also want to thank Matt Lindgren and his team for their tremendous leadership in putting this program together. I also want to recognize Keith Shapiro, who reminds me that we worked together on many matters “back in the day.” He is a distinguished leader in the restructuring industry, and I applaud all of his leadership contributions to both Emory Law School and the restructuring industry. Over the course of many months of careful study, I came to see that McKinsey RTS was engaged in a stunning and coordinated attempt to conceal its bankruptcy connections on a massive scale, not revealing its client and investment connections, while playing a game of cat and mouse with its bankruptcy disclosures. My first impulse and reaction was to contact McKinsey’s CEO and advise him as I was convinced he couldn’t possibly know this, and that he’d want to correct it. I wanted to help him. We met and spoke on eleven occasions over fourteen months. He never stopped it or corrected it, even though he promised to do so. Watching it continue into three more bankruptcy case over those 14 months told me I had no choice but to report it all to the U.S. Trustee. I’ve learned a lot more since then.