Special Litigation Counsel for Bankruptcy Estate Trustee

Bankruptcy Estate Trustee

Representation as special litigation counsel for a trustee suing various entities who claimed to be secured debtholders owed money by the bankruptcy estate of a large financial services company. After years of litigation and extensive discovery, produced settlements whereby the defendants renounced their claims to be secured debtholders, agreed to recharacterization of their proofs of claim in the bankruptcy proceedings, and paid settlement sums into the bankruptcy estate's accounts. In total, this result equated to more than $60 million in recovered value for the bankruptcy estate.

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Philip R. Stein
Partner
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Experience
Representation of homebuilder captive mortgage company in litigation brought by the FDIC, demanding repurchase of or indemnification for mortgage loans sold to IndyMac Bank. The FDIC settled all loans at issue, as well as almost 2,000 other loans allegedly subject to breaches of representations and ...
Experience
Representation of mortgage company in its defense against a $270 million breach of contract and indemnification action. After defeats in similar cases in other federal and state courts, Lehman Brotherssought recourse for new lawsuits in the Southern District of New York. Over 100 companies are being...
Experience
Defense of a national savings bank against a $25 million contractual indemnification lawsuit filed in federal court in New York City. The lawsuit involved mortgage-backed securities and claims by the plaintiff of misrepresentations by our client regarding a portion of the assets that were securitize...
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