Details are slowly leaking out about how close AIG came to following Lehman Brothers into bankruptcy, only to have the Federal Reserve Bank of New York bail it out with an $85bn (£47.5bn) loan. Davis Polk & Wardwell represented the Treasury Department and the Federal Reserve on the deal, according to the firm. The team was led by partners Bradley Smith and Marshall Huebner. Two sources with direct knowledge of the deal say Sullivan & Cromwell represented AIG, while Simpson Thacher & Bartlett represented AIG's board of directors.
September 17, 2008 at 01:22 PM
1 minute read
The original version of this story was published on Legalweek
Details are slowly leaking out about how close AIG came to following Lehman Brothers into bankruptcy, only to have the Federal Reserve Bank of New York bail it out with an $85bn (£47.5bn) loan, reports The Am Law Daily.
Davis Polk & Wardwell represented the Treasury Department and the Federal Reserve on the deal, according to the firm. The team was led by partners Bradley Smith and Marshall Huebner.
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