Weil Gotshal Represents AIG In Its Global Divestiture And Restructuring Program

Tuesday, March 31, 2009 - 01:00

Weil, Gotshal & Manges is representing AIG in connection with the company's broad, ongoing global divestiture and restructuring program that has been highlighted by several recapitalizations led by the U.S. Department of the Treasury and the Federal Reserve.

Since early 2008, Weil Gotshal has worked with AIG to develop legal strategies addressing litigation, financial auditing, reporting, and regulatory compliance issues concerning the company's write-downs of hard-to-value, illiquid credit default swaps of mortgage- and asset-backed securities.

More recently, the firm has advised AIG with respect to several government interventions designed to recapitalize the company as well as the company's global divestiture and restructuring program, which involves, among other things, divesting numerous businesses across AIG's broad international operations.

These assignments have led Weil Gotshal to develop a customized crisis management team composed of practice leaders in Business Finance & Restructuring, Securities Litigation/Corporate Governance, Mergers and Acquisitions and Structured Finance.

Senior members of the Weil Gotshal team includes partners Michael Aiello, Matthew Gilroy, Marcia Goldstein, Joseph Allerhand, Robert Carangelo and Jason Smith.

William A. Burck, former Deputy Counsel to the President and a former federal prosecutor in the United States Attorney's Office for the Southern District of New York, has joined Weil, Gotshal's Investigations and Criminal Defense Practice as a partner in its Washington, D.C. office.

Mr. Burck served as a senior advisor in the White House in various capacities, most recently as Deputy Counsel to former President George W. Bush. His principal focus was on congressional oversight and investigations, crisis management, financial regulation and economic policy (including issues related to financial rescue and reform legislation), national security, nominations and confirmations of senior Administration officials, and transition to the new Administration.

Two lawyers from the London office of Weil, Gotshal & Manges have been named in The Lawyer's Hot 100 list for 2009. The Hot 100 list singles out those lawyers who have had an excellent year and who look most likely to continue in the same way for years ahead.

Tax partner Sarah Priestley was listed in the corporate section of the report and was described as "a role model for the more junior lawyers at Weil, Gotshal & Manges."

In addition, associate Maddy Cook was also noted as "one of the brightest up-and-coming associates in the City."

Weil Gotshal has had lawyers named to the list nearly every year since the report began.