(March 2, 2009, Weil Gotshal News)
NEW YORK (March 2, 2009) – International law firm 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. Weil Gotshal team members have collaborated both inside the firm and with co-counsel to address shareholder lawsuits and derivative litigation, regulatory enforcement actions, accounting and governance issues, and divestitures of major lines of business, as well as the company’s ongoing negotiations with the Federal government over the allocation of additional bailout funds in what is potentially the largest corporate restructuring in American history.
Senior members of the Weil Gotshal team includes partners Michael Aiello, Matthew Gilroy, Marcia Goldstein, Joseph Allerhand, Robert Carangelo and Jason Smith.