How OTS set the stage for order against firm

Article Abstract:

The Office of Thrift Supervision's (OTS) March 2, 1992 freezing of the assets of New York, NY law firm Kaye, Scholer, Fierman, Hays & Handler was the product of OTS Director Timothy J. Ryan's lobbying Congress to increase the agency's regulatory power. The action resulted from the firm's role in advising the defunct Lincoln Savings and Loan Association. In 1990 Ryan obtained the authority to administratively freeze the assets of any party affiliated with a banking institution.

Discipline, Powers and duties, United States. Office of Thrift Supervision

---

FDIC/RTC fees to outside counsel are up sharply...

Article Abstract:

Government outside counsel fees in savings and loan and failed bank cleanup work are up at least 28.5% from 1990's record of $615 million. Federal Deposit Insurance Corp and Resolution Trust Corp legal spending for 1991 is estimated to be between $790 million and $890 million. The statistics, from an analysis of government data by Bank Bailout Litigation News, indicate that the number of firms earning over $1 million has jumped from 28 in 1990 to 95 in 1991.

Economic aspects, Attorneys, Lawyers' fees, Economic policy, United States. Resolution Trust Corp.

---

14 firms reach limit for FDIC legal work

Article Abstract:

Fourteen law firms hit the Federal Deposit Insurance Corp's (FDIC) $2.5 million annual limit for earnings from thrift and bank cleanups in the last quarter of 1991. To be eligible for more work, these firms must receive a waiver from the FDIC. The number of capped firms is down from 19 at the end of the third quarter of 1991, reflecting the FDIC's attempts to distribute its workload among more law firms. A list of the 14 firms is included.

Contracts, Bank failures

Similar abstracts:

• Abstracts: Disclosure, not censorship: the case for proxy reform. Proxy reform: the case for increased shareholder communication
• Abstracts: Legal Services fights back; but lawyer for poor find responses to budget cuts and limits on activities are not enough
• Abstracts: Firm, OTS settled at high cost. Kaye Scholer's Lincoln woes. Injunction reinstated on firm representation
• Abstracts: Firm, OTS settled at high cost. A firm blessing; attorneys from Cravath found a developer's plan lawful. A jury disagreed
• Abstracts: Studies suggest that minorities still lag in admissions, tests. Arizona State bucks the critics and admits convicted murderer

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.