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Struggling Thacher To Advise On Bailout

Law360 (December 18, 2008, 12:00 AM EST) -- The troubled firm of Thacher Proffitt & Wood LLP, which last week began seeking a merger to avoid dissolution, has been selected by the U.S. Department of the Treasury to advise on the government's Wall Street bailout.

In a statement Wednesday, the Treasury said Thacher will be paid no more than $500,000 to help the government handle investments that involve purchasing toxic asset-backed securities. The firm will negotiate and draft investment agreements, debt agreements and other documents required for investments under the Troubled Asset Relief Program....
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