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Document Type

Lessons Learned

Abstract

Matthew Feldman was the chief legal advisor to the Department of the Treasury on the Obama administration’s Task Force on the Auto Industry, which was established in 2009 and charged with providing aid to Chrysler and General Motors (GM), and later other entities, to avoid their disorderly failure and the loss of a million or more jobs. The Auto Task Force worked intensively throughout 2009 to swiftly negotiate with corporate leadership, unions, investors, and other stakeholders of the two manufacturers to design an orderly restructuring that would put the companies on a path to stability. Treasury Secretary Timothy Geithner recognized Feldman with the Secretary’s Honor Award, for Feldman’s “distinguished service to the American people as the Chief Legal Advisor to the Department of Treasury Auto Team.” After serving on the Task Force, Feldman returned to the law firm Wilkie Farr & Gallagher, where he is co-chairman and recognized worldwide as a leading expert on bankruptcies and restructuring. This “Lessons Learned” is based on an interview with Mr. Feldman.

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