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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.
Related Practices
Jay M. Sakalo

Jay M. Sakalo

Partner, Business Finance & Restructuring and Corporate Practice Group Leader