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Where Were The Lawyers?, Mary E. Berkheiser, Ed Hendricks
Where Were The Lawyers?, Mary E. Berkheiser, Ed Hendricks
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In March 1992, the Office of Thrift Supervision sent shock waves through the legal community when it initiated a $275 million enforcement actions against New York’s Kaye, Scholer, Fierman, Hays & Handler and froze the firm’s assets, all based on the firm’s alleged misdeeds in representing the now-defunct Lincoln Savings & Loan. The OTS action, together with the recent spate of prefessional liability suits by the Resolution Trust Corporation and the Federal Deposit Insurance Corporation, raises questions with far-reaching consequences for the legal profession. Perhaps most disturbing, particularly in light of the OTS’s unprecedented assault on Kaye, Scholer, is the …