According to The Guardian James Wareham, the legal representative of former director James Allen, confirmed that the directors would personally pay for part of the settlement, with a further $36m to be covered by directors’ liability insurance.
Although none of the directors involved were directly implicated in the Worldcom debacle, their settlement could see directors take on increasing accountability if they do not prevent matters from spiralling out of control.
Harrison Beale & Owen will (HB&O) have a new chairman and managing director at the helm for 2017
Satvir Bungar promoted to managing director in the mergers and acquisitions team
Carolyn Brown appointed as the first head of client legal services practice RSM Legal
UK senior partner Phil Verity has been elected for a second term at Mazars