DEPOSITION OF GEORGE B. BALAMUT, SENIOR PARTNER, SIMPSON, THATCHER & BARTLETT OFFICE OF THE COMPTROLLER OF THE CURRENCY Deposition of GEORGE B. BALAMUT New York, New York August 8, 1977 Pages 1 thru 6 Hoover Reporting Co., Inc. 320 Massachusetts Avenue, N.E. 546-6666 3696 at the offices of Robert J. McKean, Jr., 350 Park Avenue, 5 6 Conference Room, 20th Floor, New York, New York, pursuant to notice, beginning at 11:05 a.m., before Joseph D. Rogers, a notary public in and for the State of New York, when were present on behalf of the respective parties: On behalf of the Deponent: GEORGE B. BALAMUT, ESQ., New York, New York 10022 On behalf of the Comptroller of the Currency: JOHN HEIMANN, Comptroller of the Currency ROBERT B. SERINO, Director, Enforcement and Compliance Division, Administrator of National Banks, Washington, D. C. 20219 19 GEORGE B. BALAMUT was called as a witness and, having been first duly sworn by the notary public, was examined and testified as follows: EXAMINATION ON BEHALF OF COMPTROLLER OF THE CURRENCY BY MR. SERINO: Mr. Balamut, how are you employed? A I am the senior partner, Simpson, Thacher & Bartlett in charge of banking problems. Q Is one of your clients the Manufacturers Hanover Company? 17 Q The Comptroller's office is presently conducting a special investigation into certain activities occurring at national banks which we believe you may have information on, because of your position as counsel to the bank. I draw your attention to a memorandum, dated May 13, 1975, and ask you when the first time is that you have seen that memorandum? A To the best of my knowledge and recollection, today. Q Do you have any recollection after reading that memo 2 randum otherwise into the loan transaction made by the Manufact 3 turers. Hanover Company to Mr. Lance in the spring of 1975? After reading that memorandum, do you have any recolt 6 lection of the contents of that memorandum or whether or not 7 you were involved in any discussion concerning that loan? I believe I was asked by one or more bank officers, whether individually or in a meeting, as to whether or not the fact that one of a possible purchases in an interest of a national bank in Georgia was related to a person who had some connection with the Federal Reserve Bank of Georgia, presented any problem. loan? Q Did you have any other discussion concerning that A I would tend to guess that probably a question was asked whether this was a regulated loan within the meaning of Regulation U. Q Do you have any recollection of any of the terms of the loan? A No, sir. Q Would you, sir, check your records to determine whethe or not you have any information concerning that loan and, if 24 available, supply them for us? |