Insolvency, Bankruptcy and Restructuring
Our lawyers regularly litigate cases involving insolvency issues in bankruptcy and other courts around the country. We have successfully represented creditors, debtors, investment funds, litigation trustees, foreign liquidators and tort claimants in pursuing recoveries or defending claims such as fraudulent transfer and preferential transfer claims. We excel at developing creative solutions and using both the efficiency of bankruptcy court and our trial capabilities to achieve our clients’ objectives.
Representative Matters:
- Won dismissal of all claims against executives of Paulson & Co.’s MSR Hotels & Resorts alleging breach of fiduciary duties in connection with the sale of four luxury resorts after a three-day hearing in the U.S. Bankruptcy Court for the Southern District of New York.
- Represented the ResCap Liquidating Trust in Minnesota federal courts against dozens of loan originators seeking damages arising from the sale of defective mortgage loans, resulting in recoveries of $590 million.
- In connection with the largest bank failure in history, successfully represented debtor Washington Mutual against challenges to its confirmation plan in the Delaware federal bankruptcy court, which resulted in a $6 billion settlement benefitting Washington Mutual’s creditors.
- Represented Toronto-based precious metals mining company Yamana Gold in bailment and reclamation claims connected to the Chapter 11 bankruptcy of Republic Metals Corporation in the Southern District of New York.
- Represented the SemGroup Litigation Trust in adversary proceedings in Delaware Bankruptcy Court, obtaining confidential settlement against the alleged orchestrators of fraudulent transfers and breaches of fiduciary duties.
- Successfully represented foreign representatives of several foreign funds in liquidation in Chapter 15 proceedings in the Bankruptcy Court for the Southern District of New York, the U.S. District Court, and the Second Circuit, in avoidance, common law, and breach of contract actions seeking to recover about $6 billion in redemption payments in the Madoff scheme made to hundreds of entities.
- Represented The Colonial BancGroup (“CBG”) against the FDIC and the purchasing/assuming bank in a dispute concerning ownership and fraudulent transfer of assets arising out of bank failure, with $56 million settlement payment ultimately being made to CBG.
