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KAYE, SCHOLER SETTLES OTS SUIT

 KAYE, SCHOLER SETTLES OTS SUIT
 NEW YORK, March 8 /PRNewswire/ -- Kaye, Scholer, Fierman, Hays &


Handler announced today that it has agreed to settle the lawsuit filed by the Office of Thrift Supervision (OTS) over the firm's representation of Lincoln Savings & Loan Association. The settlement includes non-monetary conditions that will not adversely affect the firm's ability to continue its practice and the payment by the firm of $41 million over five years, a portion of which will be funded by the firm's insurance carriers. The settlement provides that the OTS will dismiss the charges against the firm and the three partners named in the lawsuit, without any admission of any wrongdoing.
 "The firm is gratified that this matter is now behind us so that we can continue to provide highest quality legal services to our clients for many more years to come," said Fredric W. Yerman, chairman of Kaye, Scholer's executive committee.
 Kaye, Scholer has approximately 400 attorneys and over 800 employees in New York, Washington D.C., Los Angeles, Hong Kong and Brussels.
 -0- 3/8/92
 /CONTACT: Paul Curran, 212-836-8663, or Kenneth Feinberg, 202-682-3522, both of Kaye, Scholer, Fierman, Hays & Handler/ CO: Kaye, Scholer, Fierman, Hays & Handler; Office of Thrift
 Supervision; Lincoln Savings & Loan Association ST: District of Columbia IN: FIN SU:


SC -- NYON2 -- 6159 03/08/92 21:43 EST
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Publication:PR Newswire
Date:Mar 8, 1992
Words:222
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