A government watchdog warned that the restructuring plan of bankrupt Alpha Natural Resources could be held up because a unit of consulting firm McKinsey & Co. failed to fully disclose connections with potential buyers of the coal miner's assets, Reuters reported on Friday. Alpha hired McKinsey Recovery & Transformation Services to lead its turnaround plan after filing for bankruptcy in August, hit by a sharp drop in coal prices. The U.S. Trustee said in a court filing on May 3 that McKinsey RTS has not disclosed the names or nature of its connections to Alpha's lenders, creditors and competitors as required by bankruptcy law. In the filing, the U.S. Trustee said the lack of full disclosures may "cast a cloud" over Alpha's restructuring strategy.
