Ronald Barliant, of counsel in the firm's Bankruptcy & Creditor's Rights group and a former bankruptcy judge in the Northern District of Illinois, has authored "Upholding a Rational Standard for Disinterestedness in Puerto Rico," published in the Jan. 17, 2019, edition of the New York Law Journal.
The article responds to charges that McKinsey has a conflict of interest that should disqualify it from continuing to act as adviser to the Financial Oversight and Management Board (FOMB) for Puerto Rico. Mr. Barliant explains why those charges are ill-founded and believes that McKinsey should continue its work. Although McKinsey is being singled out, the implications of these charges are far reaching because they could deprive Puerto Rico of needed advice from many professionals.
Mr. Barliant writes that in the article “PROMESA and McKinsey’s Lack of Disinterestedness,” N.Y.L.J. (Jan. 4, 2019), Carlos J. Cuevas incorrectly charges McKinsey with having a conflict of interest that should disqualify it from continuing to act as adviser to the Financial Oversight and Management Board (FOMB) for Puerto Rico. McKinsey asked Mr. Barliant to look into the matter and, if he thought it appropriate, write a response. "I most certainly think it appropriate to do so because in my opinion Mr. Cuevas got it completely wrong," writes Mr. Barliant.