Wednesday, April 04, 2007

While Granting An Extension, Creditors Seek Audit Of BearingPoint

Paul McDougall writes on InformationWeek:

Government and commercial systems integrator BearingPoint said its creditors have temporarily agreed to extend a deadline for the company to file its 2006 annual report while requesting that it hire an auditor to review its accounts receivables.

In a document filed Monday with the Securities and Exchange Commission, BearingPoint said its lenders have moved the deadline by which it must either file the report on default on loan agreements to April 11.

Until then, BearingPoint -- which holds a contract to help rebuild financial systems in Iraq -- said it would continue negotiations with creditors with the aim of ultimately moving the deadline for the filing of its 2006 form 10-K to June.

More here.


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