According to an April 1, 2013 NJ News article an engineering firm, Birdsall Services Group, was denied their bankruptcy petition for falsely filing. Deputy Attorney General Derek Miller argued in his court documents that the firmâ€™s filing was an attempt to prevent prosecution of the firmâ€™s seven current and former executives.
The stateâ€™s Attorney General Office intervened after the firm petitioned the courts for a Chapter 11 bankruptcy protection. The firm stated that they hoped the protection would avoid the state from seizing the firm. In the petition, the firm claimed $41.6 million in assets, $5.4 million in cash but did not provide a lot of their debts.
In response to the firm’s petition, the Attorney General Office stepped in and contested the petition, stating that the state owned all the assets. Furthermore, the office denied the firmâ€™s ability to continue to perform without state interference.Â The office made the firm install certain auditing measures to prevent the firm from performing any misconduct. The firm received this type of negative attention from the state after the firmâ€™s top officials were brought up on charges for conspiring and funneling money for the past six years of the firmâ€™s operation. Many of the firmâ€™s contracts were public and state funded putting the firm in the publicâ€™s eye. Due to the notion of misconduct many state and public officials have stopped working with the firm. At this time, it is unclear how and if the firm will continue to operations.
The law office of Jayson Lutzky, P.C., located in the Bronx, New York, handles personal bankruptcy cases. If you are facing financial troubles, then set up a free in person consultation to learn if bankruptcy is right for you. Mr. Lutzky has helped thousands of clients over the past 30 years. Call 718-514-6619 or visit www.MyNewYorkCityLawyer.com today.