Defense of Credit Card Processor in Bankruptcy Case

North American Bancard ("NAB")
Robb & Stucky Interiors, one of North America’s largest home furnishings and interior design companies, filed for chapter 11 in 2011. We were engaged by North American Bancard ("NAB") to defend against a lawsuit filed by Robb & Stucky in the bankruptcy case. Pre-bankruptcy, NAB served as the credit card processor for all of the debtor's retail locations and, as a result, was potentially liable for millions of dollars of deposit and chargeback claims resulting from the non-delivery of goods by the debtor. We successfully defended NAB in the suit, which was resolved by settlement.
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Jay M. Sakalo

Jay M. Sakalo

Partner, Business Finance & Restructuring and Corporate Practice Group Leader
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Experience
Successful representation of California bank in complex mortgage foreclosure debt recovery action through state court and bankruptcy court in the Southern District of Florida, which resulted in the criminal indictment of the borrower´s principal for bank fraud.
Experience
Debtors' counsel to Fontainebleau Las Vegas Holdings, LLC, and two of its affiliates in their chapter 11 cases in the Southern District of Florida. The debtors had over $2 billion of funded debt, had used $500 million of equity, and were prosecuting claims for $800 million in unpaid additional finan...
Experience
Representation of debtor in possession in the chapter 11 case of Cabi Downtown LLC, the owner of an 849-unit condominium project owing over $250 million to a bank consortium, defaulting unit purchasers, trade creditors, and its general contractor. The case was the first large condominium filing in S...
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