S&C Leads Team Advising General Electric in “Too Big to Fail” Victory

June 30, 2016
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On June 30, Bloomberg BNA published the article “Top GE Lawyer Tips Hat to Legal Team in 'Too Big to Fail' Victory,” which reported on the success of General Electric's recent proposal to rescind its designation as a nonbank systemically important financial institution by the Financial Stability Oversight Council (FSOC). In the article, Alex Dimitrief, GE's general counsel, discussed the complexity of the legal work required for the designation-switch and named Mr. Cohen as one of the outside counsel leading the team in drafting the submission to FSOC. In the article, Mr. Dimitrief commended the legal team's work by saying, “They took a laboring oar in drafting a key submission to the Financial Stability Oversight Council requesting the designation change.” He continued, “'It was a hard one to write,' said Dimitrief, saying that the submission ran more than 100 pages and detailed the steps GE has taken over the past year to sell many of its businesses. 'It explained what we were selling and to whom and what the schedule was.'”