The tardiness of a technical services company in submitting financial reports to the SEC and the trustee responsible for managing its debt payments have prompted a potentially expensive default. A New York judge ruled that by failing to file required SEC reports BearingPoint “repudiated its obligation” under two debt issues. One attorney said that the decision could embolden already aggressive bond investors to take action against companies that are late in filing financial reports.
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Posted on Saturday, September 30th, 2006. Filed under: Business Law, Law Misc
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