Andersen Consulting yesterday denied that its parent company, Andersen Worldwide, had filed a new counterclaim against it in the ongoing row about the consulting unit’s efforts to leave the firm.
Back in December 1997, Andersen Consulting filed with the International Chamber of Commerce demanding $650m in transfer payments and $150m in compensation from sister firm Arthur Andersen, which it alleged had broken the US Securities and Exchange Commission agreement by pursuing its consulting clients for business.
Then in April 1998, Andersen Worldwide issued a counterclaim saying if the consulting unit wanted to leave it had to return its brand name along with the technology it used to run its business. But according to reports in the Wall Street Journal earlier this week, Andersen Worldwide had filed a new $14.6bn countersuit against Andersen Consulting, a fact which the consulting firm denies.
In a statement issued yesterday, Andersen Consulting said this week’s alleged claim was the same one filed on April 2, 1998. It added that there had been no significant developments in the battle between Arthur Andersen and the parent company, Andersen Worldwide, since November 12, 1999, when the parties completed two weeks of hearings with an independent arbitrator.
