[1/2]Sullivan & Cromwells new co-chairs Robert Giuffra (left) and Scott Miller (right). Password (8+ characters) . Reach Greene at jenna.greene@thomsonreuters.com. S&Cs premier executive compensation and benefits practice advises on a full range of corporate, securities, tax and employment law matters. Sullivan & Cromwell's new co-chairs go for tricky balance Serious New Issues Emerge in Sullivan & Cromwells Deeply Conflicted Role in the FTX Bankruptcy Case, A Federal Agency Wants to Hear Directly from the Public about Bad Practices at Credit Card Companies, The U.S. Congress Twiddled Its Thumbs on Crypto while 10 Countries Banned It and 42 Others Placed Heavy Restrictions, Bankruptcy Judge in Manhattan Rules that Crypto Customers Lost Ownership of $4.2 Billion When They Deposited It into Earn Accounts, FTX Bombshell: Former FTX Lawyer, Daniel Friedberg, Alleges Fraud by Sullivan & Cromwell in Court Filing Today, In 16 Years, the Fed Has Approved 4,506 Bank Mergers and Denied One, Four Crypto-Friendly Banks Are Being Bailed Out with Billions from a Federal Housing Program, A Sam Bankman-Fried Company Loaned or Invested More than $1 Billion in Clients of its Law Firm, Sullivan & Cromwell, The Narrative Is that Two Women Under 30 Committed Fraud without Detection by Sophisticated Wall Street Law Firms, FTX Bankruptcy Proceedings Thus Far Show a Shocking Miscarriage of Justice, Bankruptcy Law Expert, Senator Elizabeth Warren, Asks FTX Bankruptcy Judge to Boot Sullivan & Cromwell from the Case, Sullivan & Cromwell, FTX Lead Counsel in Bankruptcy, Says It Has No Adverse Relationships, Despite Representing Four of FTXs Crypto Exchange Competitors, JPMorgan Chase Hit with Lawsuit for Facilitating Jeffrey Epsteins Crime Network; Similar Charges Were Brought Against It for Facilitating Madoffs Ponzi Scheme, Federally-Insured, Crypto-Focused Silvergate Bank Loses 43 Percent of Its Market Value Yesterday as Depositors Flee, After 16 Months, There Are Still No Arrests in the Feds Trading Scandal, The Fed, FDIC and OCC Issue New Warnings to Banks on Crypto Risks to Safety and Soundness, Two Law Firms Played Key Roles in Sam Bankman-Frieds House of Cards; One Is Now Collecting Upwards of $2,165 an Hour in FTX Bankruptcy Proceedings, Sam Bankman-Frieds Crypto Companies Bilked a Potential 10.3 Million User Accounts; Thats 250 Times More than Madoff, Sam Bankman-Frieds Criminal Trial Judge Is Married to Law Partner of Firm that Arranged the FTX-BlockFi Deal, Mr. Gensler, the U.S. Stock Market Structure Is an Institutionalized Wealth Transfer System, Congressman Brad Sherman Versus the Crypto Gang in Congress, A Sam Bankman-Fried Company that Was Not in Bankruptcy Has Gone Poof; Regulators Are Drawing a Dark Curtain, Senate Banking Hearing on FTX Collapse Pits a Courageous Law Professor Against Paid Shill Kevin OLeary, An Insider Blows the Whistle on How the Fed Has Allowed Crypto to Invade Federally-Insured Banks, Sam Bankman-Fried Quietly Bought an SEC-Registered Stock Trading Operation; There Are Big Questions as to Whats Happening with Customer Accounts, No One Trusts the FTX Bankruptcy Case: News Outlets Intervene; Justice Department Trustee Demands Independent Examiner; SEC Orders Disclosures, Senate Banking Chair Threatens a Subpoena If Sam Bankman-Fried Doesnt Show for Next Wednesdays Hearing; Says SBF Orchestrated a Coverup, JPMorgan Chase, the Largest Federally-Insured Bank in the U.S. with Five Felony Counts, Says 10 Percent of its New Hires Last Year Had Criminal Histories, Secretary Yellen, Weve Got a Staggering Problem: New Report Shows Foreign Banks Have Secret Derivative Debt that Is 10 Times their Capital. . Both have pleaded guilty and are cooperating with prosecutors, as is Singh.). Robinhood: This is a publicly-traded stock trading platform and Sullivan & Cromwells current client. . Phone: (212) 558-4000, Co-Chair: Robert J. Giuffra, Scott D. Miller Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Trustee - the more than 20 legal engagements Sullivan & Cromwell had been involved in with Sam Bankman-Fried's FTX Group before it filed for . Silvergate, a Federally Insured Bank, Just Blew Up from Ties to Crypto The rightful ownership of the stock is the subject of multiple court battles. By Pam Martens and Russ Martens: March 1, 2023 ~ Andrew (Andy) Dietderich, Law Partner at Sullivan & Cromwell. First name. Farben into an international nickel cartel, which included American, Canadian, and French producers. The genuine firm employs a genuine Whitney Chatterjee who is a Partner in the genuine firm's New York office. Last name. It is consistently among the top 10 firms in Vaults General Corporate, M&A, Project Finance, Securities/Capital Markets, and Banking and Financial Services rankings. Sullivan & Cromwell Partner Selected as Apollo's New Chief Legal Mr. Miller told me that there was over $200 million cash in LedgerX and that he was going to send these funds to S&C, and that bankruptcy legal costs were therefore not a problem. At the suggestion of H. Rodgin Cohen, a banking lawyer with Sullivan & Cromwell in New York City, the securities firms urged Congress to include an amendment to Section 13 (3) in FDICIA. [23], Two former chairmen of the firm held senior foreign policy positions during the Eisenhower administration: John Foster Dulles, who served as U.S. Secretary of State; and Arthur Dean, who represented the United States in negotiations resulting in the Korean Armistice Agreement. BlockFi is another crypto exchange that is a current client of Sullivan & Cromwell. On January 17, Sullivan & Cromwell law partner Andrew Dietderich filed a declaration in the U.S. Bankruptcy Court for the District of Delaware that acknowledged - after much prodding by the U.S. The firm provides clients a coordinated approach for securing clearances in the US, the EU and elsewhere, handling merger clearances for some of the largest and most complex M&A transactions in the world. The firm has advised on many of the most transformative and complex projects and financings in both developed and emerging markets involving oil and gas, mining, other natural resources, and infrastructure. Yesterday, Nishad Singh pleaded guilty to a 6-count criminal indictment. "the physician of Wall Street" for his ability to rescue failing companies. [16][17], The post-World War I era saw an expanded need for financing. The results the Firm achieves have set it apart for more than 140 years and have become a model for the modern practice of law. As chairs, we lead the group discussion and help generate consensus, Miller said. M&A activity zoomed to historic levels in 2021 after a significant slowdown in the first half o 1888 Century Park East, Los Angeles, California, USA, CA 90067-1725, 1870 Embarcadero Road, Palo Alto, California, USA, CA 94303-3308, 1700 New York Avenue, NW Suite 700, Washington, DC, District of Columbia, USA, 20006-5215, Authored by Matthew Hurd, Melissa Sawyer, Scott Crofton, Litigation: General Commercial: The Elite, 125 Broad Street, New York, New York, USA, NY 10004-2498. (Atlanta Black Star) Laterals . Its not increasing profits, opening new offices or improving technology. Sullivan & Cromwell LLP on LinkedIn: Best Practices for Successful Indicted cryptocurrency exchange FTX founder Samuel Bankman-Fried is accusing Sullivan & Cromwell of pressuring him to seek bankruptcy protection for his company and . Sullivan & Cromwell, whose clients include AT&T Inc., Volkswagen AG and JPMorgan Chase & Co., saw revenue and profits rise by a double-digit percentage in 2021, its new leaders said. Capital Markets, Leveraged Finance & Lending Fanatics: Fanatics is a sports merchandising and sports trading card company. Legislation agency Sullivan & Cromwell has contradicted itself by claiming that shuttered cryptocurrency trade FTX.US is bancrupt, in response to former CEO Sam Bankman-Fried . Represented Cory Maples on a pro bono basis in the appeal of his murder conviction. Senators Elizabeth Warren (D-MA), Roger Marshall (R-KS), and John Kennedy (R-LA) wrote to Silvergate demanding answers regarding the funds it had transferred from FTX customer accounts to Bankman-Frieds hedge fund, Alameda Research. 9th year: $415,000 The Legal Cheek View. Two Indicted Masterminds of the FTX Fraud Were Clients of Big Law Firm What is Sullivan & Cromwell's Revenue? Image from Shutterstock. Thisblogis dedicated to the rapidly changing areas of laborand employment law and workplace investigations. The Senators inquired as follows: Your banks involvement in the transfer of FTX customer funds to Alameda reveals what appears to be an egregious failure of your banks responsibility to monitor for and report suspicious financial activity carried out by its clients. A Document Implicating Powerful People Is Blocked from Public Viewing in Sam Bankman-Fried Criminal Case, Sullivan & Cromwells Crypto Clients Are in Growing Distress, Securities and Exchange Commission charged both firms with selling unregistered securities, It has now written down to zero its entire investment of $214 million, Dow Jones Industrial Average Intraday Trading Level, Stock Quotes and Breaking Market News, Silvergate, a Federally Insured Bank, Just Blew Up from Ties to Crypto, Two Indicted Masterminds of the FTX Fraud Were Clients of Big Law Firm Sullivan & Cromwell, Goldman Sachs Is Being Sued for 27 Separate Stock Offerings It Underwrote, The Same Day Sam Bankman-Fried Is Hit with a New Count of Bank Fraud, Three Regulators Warn About Crypto Bank Runs, Judge John Dorsey Has Effectively Privatized Justice in the FTX Bankruptcy Case, These Charts Scared the Stock Market into a 700-Point Drop Yesterday, Credit Suisse Tanks to New Intraday Lows as Wall Street Mega Banks Mysteriously Shake Off the Contagion Effect, From Jeffrey Epstein to Sam Bankman-Fried to Madoff JPMorgan Banks the Creepy Crooks, FTX Bankruptcy Judge to Rule Today on an Independent Examiner After 76 Days of Delay, Crypto on Tap Today at Senate Banking Hearing: Two of Three Witnesses Will Push Nutty Ideas, Sam Bankman-Fried, BlockFi and Sullivan & Cromwell: A Vipers Nest of Conflicts and Intrigue, Credit Suisse Tanks Yesterday to $3.02; Its Lost Over 90 Percent of Its Market Value Since 2007; Its Not Alone, FTX Bankruptcy Lawyers Channel their Inner Sam Bankman-Fried Bill $21,000 for their Meals Over Just 20 Days, There Are Very Strange Things Going On at Goldman Sachs, Bombshell Emails Raise Questions about What Sullivan & Cromwell Knew about Fraud at Sam Bankman-Frieds Crypto Firms, Charlie Mungers OpEd in the WSJ Is Spot On About Banning Crypto; But Calling It Gambling Fails to Capture Its Dangers, 18 States Send a Message to FTX Bankruptcy Judge John Dorsey: Were Watching You.