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Successfully Defended Universities in Fraudulent Transfer Litigation

University Defendants
Defense of Harvard University, Yale University, Princeton University, Washington University at St. Louis, and the University of Michigan in a fraudulent transfer lawsuit in the United States Bankruptcy Court for the Southern District of Florida. The claims arose out of our clients' position as limited partners in a real estate fund that invested in certain Florida real estate projects in the mid-2000s. In the lawsuit, the chapter 7 trustee sought to recover approximately $148 million from all of the defendants, including approximately $24 million collectively from our clients. In pre-trial motions, we successfully obtained dismissal of the claims against the University of Michigan on sovereign immunity grounds. Thereafter, we filed a motion to dismiss all other claims against our clients. The Bankruptcy Court granted our motion, dismissing our remaining clients with prejudice from the entire case.
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Jay M. Sakalo

Jay M. Sakalo

Partner, Business Finance & Restructuring and Corporate Practice Group Leader