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Special Litigation Counsel for Bankruptcy Estate Trustee of Large Financial Services Company

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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Jay M. Sakalo

Jay M. Sakalo

Partner, Business Finance & Restructuring and Corporate Practice Group Leader
Philip R. Stein

Philip R. Stein

Partner, Litigation Practice Group Leader
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Experience
Representation of bankruptcy estate trustee in the resolution of claims by a major U.S. bank that claimed it was owed indemnification of approximately $1.75 million by our client with respect to a number of individual residential mortgage loans that client had sold to the bank. Demonstrated the abil...
Experience
Defense of mortgage loan originators against claims brought throughout the country asserting over $500 million in cumulative damages. The cases were initiated by major financial institutions seeking repurchase of or indemnification for large volumes of residential mortgage loans sold before the 2008...
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