Representative Matters

  • The firm has won numerous notable cases for its banking clients, including:

  • Successfully seeking and obtained dismissal of breach of fiduciary duty claims in action by noteholders against indenture trustee arising from amendment of an indenture;

  • Successfully defending the propriety of a bank’s trust department’s practices in handling a close corporation held a testamentary trust, winning dismissal of a $2 billion claim of negligence and breach of fiduciary duty;

  • Successfully seeking and obtained judgment enforcing a bank’s right to insurance coverage for pollution-causing activity at property that had been foreclosed on by the bank;

  • Success in the U.S. Supreme Court enabling a bank to pursue the principals of a bankrupt debtor under RICO, the federal racketeering statute;

  • Successfully seeking and obtaining summary dismissal of RICO claims against a bank based upon alleged prime rate fraud;

  • Successfully defending a client in the "lenders' liability" action brought by the Hunt brothers in Texas, which was among the largest and most publicized of such cases in the country;

  • Successfully establishing the priority of a consolidated first mortgage lien held by several banks over the lien for common charges held by a condominium's board of managers;

  • Successfully representing banks in creating new law establishing the rights of banks in enforcement of loan documents, electronic funds transfers, currency contracts, and chain of collection issues;

  • Successfully representing bank in subordinating a municipality's claim for payments in lieu of taxes for the lender's mortgage securing Industrial Development Authority Bonds;

  • Successfully representing a bank so as to permit an extension of the time to cure a defective presentation under a letter of credit, to enable a negotiating bank to obtain corrected documents for presentment to and payment by the issuer;

  • Successfully establishing a standard under the letter of credit Uniform Customs and Practice for Documentary Credits (UCP) for notices terminating evergreen credits; and

  • Successfully defending a money center bank's dishonor of a letter of credit on the basis of inconsistency on the face of the documents presented for payment.