TRENTON, N.J. (AP) — The new leaders of a major New Jersey engineering firm have filed for bankruptcy protection in federal court, just days after the company was indicted and state authorities won an order freezing its assets.
Eatontown-based Birdsall Services Group made the legal move late Friday afternoon.
In its filing, the company asked that the frozen funds be released so it can pay its creditors and issue paychecks to its 325 employees.
Birdsall and seven of its top executives were indicted Tuesday for allegedly conspiring to circumvent the state’s pay-to-play law while making millions of dollars off government contracts.
Company officials say all but two of the indicted executives have now left the firm, and those two are either on leave or will be resigning.