Appendices
- Contacts
- Statutory Compliance
- Electronic Billing / Timekeeping
- Legal Services
-
Delegations of Authority
-
Litigation & Resolutions Branch
-
Corporate Operations Branch
-
Supervision Branch
-
Consumer & Legislation Branch
|
|
Legal
Matter Closeout
8.1
Final Invoice Package
At the conclusion of a matter, you should submit your final Invoice
Package within 90 days of conclusion. It is important that you note
on the invoice and the LIF&E form that this is a final Invoice
Package. Refer to Chapter 7 for procedures
for submitting your Invoice Package.
8.2
Forwarding Documents to FDIC
At the conclusion of a matter, or group of related matters, the
FDIC will take custody of all records related to the matter(s),
including attorney work product, unless you, as FDIC outside counsel,
want to continue to preserve the records for your own purposes
(i.e., state bar requirements, malpractice insurance requirements,
firm’s business practices, etc.). Note that records such
as time sheets, receipts etc., that must be kept for audit purposes
pursuant to paragraphs 1.7 and 7.11 are your firm’s property and
should not be sent to the FDIC with records related to the underlying
matter.
If,
at the conclusion of the matter(s), you have no further interest
in preserving the records for your own purposes, the FDIC will
pay for shipping and permanent withdrawal fees (if the files
are in the possession of a private records storage vendor) to
transfer the files. All outstanding fees related to the transfer
of these records, including permanent withdrawal fees, must be
submitted with the final invoice package.
If,
however, you have a continuing need to preserve the records for
your own purposes after the matter has been concluded, you will
inform your oversight attorney in writing of that decision with
a list of records at issue, and, if the oversight attorney agrees,
you may continue to preserve the records at your own cost. You
will be responsible for all storage costs during the time that
you preserve the records for your own purposes. The
oversight attorney cannot commit to continue to pay for storage
or permanent withdrawal fees after the matter has been concluded
and the final invoice has been submitted. While the records
are being preserved for your own purposes, the records shall
not be intermingled with non-related matters pertaining to other
FDIC assignments or other clients. The segregation of these records
will facilitate the destruction or transfer of the files at a
future point.
When you no
longer need the records for your own purposes you must contact the
FDIC in writing to determine whether the records may be destroyed.
Inquiries are to be sent to the Legal Services Group, Attn: Counsel
John C. Binkley, 3501 Fairfax Drive, Room VS-E-6068, Arlington, VA 22226
(Phone (703) 562-2322),
with a list of records that are at issue. The records
may not be destroyed without the written permission of the Legal
Services Unit. If you receive written permission
to destroy the records, it will be at your own expense. If
the FDIC cannot authorize the destruction of the records, the
FDIC will take custody of the records. The FDIC will pay
for shipping the records to the FDIC, but you will be responsible
for any permanent withdrawal fees related to the records as well
as outstanding storage fees.
When
requested by the FDIC upon completion of the legal matter, you
must return any FDIC property and materials (e.g., original documents
from a financial institution and computer software media, documentation
and licenses) and forward all substantive legal work product
not previously submitted. Failure to do so may delay or prevent
payment of your final invoice.
NOTE: For
purposes of subsequent audit, Outside Counsel must
retain certain documentation. Refer to
Chapter
1, Section
1.7 and Chapter
7,
Section 7.11. Your failure to maintain required
documentation may cause the FDIC to disallow previously
paid fees and expenses. |
|