A recent AM Law Daily story, “Tallying Up the TARP-Related Legal Fees Racked Up By AM Law Firms,” reports that the U.S. Department of Treasury’s Troubled Asset Relief Program (TARP) may have expired, but some of the initiatives that grew out of that massive federal effort to bail out ailing banks and cope with other financial crisis fallout live on.
Several AM Law 100 firms have amassed significant legal tabs over the past four years. Treasury has a breakdown on those firms and the “obligated value” of their TARP contracts, which extend for various time periods between 2008 and 2015, through the procurement section of its FinancialStability.gov website.
Copies of contacts – which are mostly boilerplate agreements for legal advice on investments, asset-backed security deals, debt transactions, mortgage loan modifications, other mortgage-related issues, or restructuring matters visit http://www.treasury.gov/initiatives/financial-stability/procurement/Contracts/Pages/contract-detail.aspx
Cadwalader: $23,842,317
Simpson Thacher: $10,310,139
Hughes Hubbard: $5,293,856
Paul Weiss: $4,799,741
SNR Denton: $4,639,402
For more on this visit “Legal Fees Paid Under TARP Questioned”