New York Times on Donald J. Trump and Cash Money Issues. Rudy Giuliani Covered.
The New York Times published an article today titled “As Trump Raked in the Cash Denying His Loss, Little Went to the Actual Legal Fight.” Given Trump’s personal lawyer’s relationship with a law firm Pierce Bainbridge Beck Price & Hecht LLP, the discussion of Rudy Giuliani piqued our interest. The NYT notes that while Rudy claims to have “not made a penny” for Trump legal services, Federal Election Commission filings indicate substantial “travel reimbursements” for both Giuliani, and his long-time ally Bernie Kerik. Let’s take a look Giuliani and Pierce Bainbridge.
Pierce Bainbridge Beck Price & Hecht LLP.
In March 2018, this became the third name of a law firm founded in January 2017. The Pierce Bainbridge named partners are listed below with links to additional information about four of them, as well as an indication of their current law firms.
- John M. Pierce.
- James D. Bainbridge, Bainbridge Law APC.
- Carolynn K. Beck, Goldstein & McClintock LLLP.
- David L. Hecht, Hecht Partners LLP.
- Max Price, Hecht Partners LLP.
Kevin Cash, who is reportedly with Pierce Bainbridge spin-off Bradford Edwards & Varlack LLP, was the firm’s Chief Financial Officer from around Spring 2019 until the firm had effectively cratered in by mid-2020.
We’ve previously presented an overview of GOP connections for firm founder John M. Pierce. It is useful background.
Let’s take a look at a brief timeline.
June 6, 2019. Mark Mukasey announces he is outside counsel for Pierce Bainbridge.Yahoo has described Mukasey as the “lawyer at the center of the Trump universe.”
Pierce posted about Mukasey on LinkedIn as well.
July 25, 2019. Giuliani reportedly borrows $100,000 from Mukasey.
A report in Bloomberg is titled: “Giuliani Says He Had to Borrow From Trump Lawyer to Pay Taxes.”
October 16, 2019. Giuliani says, “we need some money.”
Rudy Giuliani pocket-dialed an NBC reporter and inadvertently left the message saying money was needed.
November 6, 2019. Giuliani announces hiring Pierce Bainbridge for his issues with Ukraine.
Per the New York Times, Rudy was looking for legal representation but other “firms stayed way.”
November 14, 2019. A lender makes a $21 million loan commitment to Pierce Bainbridge.
Virage Capital Management is the litigation funder, and recently said Pierce Bainbridge owes “no less than $59 million.”
Virage also financially backed attorneys Tim Howard and Tom Girardi, both are reportedly in the crosshairs of federal authorities.
This is briefly covered in a 2-minute video: “Who is John Pierce?”
March 13, 2020. Mukasey says he is quitting Pierce Bainbridge while noting concerns about ethics and payment.
The New York Law Journal covered the Mukasey withdrawal.
March 20, 2020. Hecht Partners LLP is formed.
April 22, 2020. Pierce Bainbridge reportedly owes Virage $65 million.
A report including the massive debt figure is published in Law360.
May 20, 2020. John Pierce forms Pierce Bainbridge P.C.
Pierce later hired by Kyle Rittenhouse (in August) under “Pierce Bainbridge P.C.”
May 20, 2020. Virage Capital provides funding to Hecht Partners.
A UCC regulatory filing lists Hecht Partners as the “debtor,” and a registered agent as the “secured party.” The same registered agent is on other Virage identified UCC filings.
Interestingly, “Pierce Bainbridge P.C.” was formed the very day prior to this filing.
Virage Capital reportedly also picked up the legal bills of the Pierce Bainbridge lawyer who replaced Marc Mukasey.
September 2020. Lin Wood announces that Rudy Giuliani is a former Pierce Bainbridge client, Wood mentions me by name.
January 2021. Virage Capital says Pierce Bainbridge still owes “no less than $59 million.”
What went on here?
Tens of millions of dollars went through this law firm. There is basically nothing to show for it other than massive debt, a slew of lawsuits and accusations of severe corruption.
Rudy Giuliani hired Pierce Bainbridge Beck Price & Hecht for Ukraine. With Rudy’s name come thoughts of shenanigans. The New York Times article on shady Trump dealings, raises issues about Giuliani and payments for services. It elevates the intrigue of Giuliani’s relationship with Pierce Bainbridge.