Boies Schiller Flexner, the major law firm founded by famed litigation attorney David Boies, received a total of $ 10 million in federal pandemic relief loans, according to records released Tuesday.
The Small Business Administration before
Boies Schiller appears to be the only company among the 100 largest in the country to have received a loan from the paycheck protection program. The firm had $ 400 million in revenue last year and paid equity partners more than $ 3.3 million on average, according to The American Lawyer.
Company spokeswoman Jennifer Edward did not immediately respond to a request for comment.
Boies Schiller has seen a number of departures in the past few months as employees and partners jumped to other major law firms. The company has also been criticized for David Boies’ recent portrayal of disgraced Hollywood producer Harvey Weinstein and the submerged Silicon Valley blood test startup Theranos ethical issues in connection with his work for certain prosecutors of alleged sex trafficker Jeffrey Epstein.
Another 44 law firms whose revenue AmLaw is in the top 200 also received pandemic loans of between $ 2 million and $ 10 million. These firms reported sales of more than $ 100 million last year and paid equity partners who own ownership of these companies up to $ 2.1 million apiece, according to AmLaw data.
Other companies that received PPP loans were Cole Scott & Kissane, Stroock & Stroock & Lavan, and Kobre & Kim.
The loans have an interest rate of 1% and are due over two to five years. The agency has announced that it will provide loans to employers, which will use the money for eligible wages, payments for mortgage interest, rent or utilities.