BearingPoint Inc. announced today that it has filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in U.S. Bankruptcy Court for the Southern District of New York.
In a statement, company officials said the move has allowed them to reach a financial restructuring agreement with senior secured lenders that will significantly reduce the company’s debt and improve its capital structure.
Company operations based outside the United States are not included in the filing and will not be affected, they added. (Washington Technology)
