U.S. consulting and advisory firm Monitor Company Group and its affiliates filed for chapter 11 protection, court documents showed, and said that it has agreed to sell its assets to global consultancy firm Deloitte, Reuters reported yesterday. As per the asset purchase agreement, Deloitte Consulting LLP will acquire Monitor's U.S. practice, and practices outside the United States will be acquired by certain other member firms of Deloitte Touche Tohmatsu Limited. Monitor, which offers consulting services to corporations, governments, and social sector organizations, said that selling assets to Deloitte through the chapter 11 route was the best option. The company listed both estimated liabilities and estimated assets for the consolidated group in the range of $100 million to $500 million, according to a court filing.
