
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: MONDAY, March 9, 1992                   TAG: 9203090075
SECTION: NATIONAL/INTERNATIONAL                    PAGE: A7   EDITION: METRO 
SOURCE: 
DATELINE: WASHINGTON                                LENGTH: Short

LAW FIRM FOR S&L TO PAY $41 MILLION

A leading New York law firm said Sunday it has agreed to pay $41 million to settle accusations by the federal Office of Thrift Supervision that some of its lawyers "knowingly aided and abetted regulatory violations" by the defunct Lincoln Savings and Loan Association.

The federal agency that oversees savings and loans had sought $275 million from Kaye, Scholer, Fierman, Hays & Handler and had moved to freeze the law firm's assets pending settlement of the case.

A press release from the law firm said the $41 million will be paid over a five-year period and that part of it will be covered by the firm's insurance carriers.

The government had asserted that the firm's actions in representing the Irvine, Calif., S&L operated by Charles Keating "constituted unethical and improper professional conduct and demonstrated a lack of professional character and integrity."

- Associated Press

by CNB