Allegheny seeks to change its accounting firm
Article Abstract:
The Allegheny Health, Education and Research Foundation is asking U.S. Bankruptcy Court Judge M. Bruce McCullough to determine whether accounting agency Deloitte & Touche can conduct auditing services of its financial system. Allegheny's financial records have been questioned by bond-rating analysts which may be explained by the fact that the foundation has not been audited by outsiders other than Coopers & Lybrand. Coopers & Lybrand, which switched to the name PricewaterhouseCoopers, conducted its last audit of the foundation in June 1997, noted PricewaterhouseCoopers director of media relations David Nestor.
Comment:
Is being questioned by The Allegheny Health, Education and Research Foundation over its ability to conduct auditing services
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1998
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Genesis obtains reprieve on debt
Article Abstract:
A group of lenders led by Mellon Bank has given a reprieve to Genesis Health Ventures Inc., allowing it a 60-day extension to make a $3.8 million interest payment on its senior debt. Kennett Square, Penn.-based Genesis Health, which has $1.5 billion in outstanding debt, has hired Merrill Lynch and Co. to advise it on restructuring its assets.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 2000
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