Thomas Russo’s past revisited him even as he was trying to move forward. Just a few weeks after he became general counsel at troubled American International Group, Inc., a bankruptcy examiner issued a report on the collapse of Lehman Brothers Holdings Inc., where Russo had previously been GC.
The report, released on March 12, lays out in minute detail how Lehman used accounting gimmicks to hide the bad investments that led to its demise. Russo and his in-house legal staff weren’t at fault for the chicanery, according to the examiner. But the report shows how they were involved in negotiations with other financial institutions as Lehman fought for its survival. (Russo declined to comment for this story.)
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
