Cravath S & L fees under fire: call for new contracts

Article Abstract:

Democratic legislators have called for a renegotiation of the lucrative fee agreement between the Federal Deposit Insurance Corp (FDIC) and Cravath, Swaine and Moore. The law firm was to earn more than $80 million for 14 months' work in the fraud case against junk bond czar Michael Milken. On April 6, Howard Metzenbaum and five colleagues wrote a letter to FDIC chairman William Taylor and Resolution Trust Corp pres Albert V. Casey complaining about the fee agreement.

Finance

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RTC audit rips Cravath billing; weekend trip, overhead

Article Abstract:

The Resolution Trust Corp (RTC) is questioning at least $600,000 of the $16.9 million Cravath, Swaine and Moore billed the government for its work on one facet of the savings and loan bailout, the industry's loss of money in the junk bond market. An audit showed substantial charges for overhead expenses, and government policy does not allow reimbursement for these. Many travel expenses were also found to be improper.

Cases, Attorneys, Lawyers' fees, United States. Resolution Trust Corp.

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A political elite joins lobby shop; D.C.'s Verner Liipfert attracts leaders of both parties to lift its profile

Article Abstract:

Bob Dole, George Mitchell, Lloyd Bentsen, Ann Richards, and other well-known politicians continue to join the Washington D.C. law firm of Verner Liipfert. The firm has become internationally known, particularly because of its lobbying successes. The firm's political connections have helped attract high-profile clients such as the tobacco industry, Disney Corp, and others.

Offices of Lawyers, Legal Services, United States, Officials and employees, Practice, Washington, D.C., Lobbyists, Mitchell, George J., Dole, Bob, Verner, Liipfert, Bernhard, McPherson and Hand

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