Financial LitigationFinancial transactions and related agreements (and the parties' performance thereunder) often provide fertile ground for litigation and difficult-to-resolve disputes. As lending and finance transactions become more and more sophisticated (and involve increasing complex contracts and related documentation), parties involved in disputes must rely on sophisticated and experienced counsel to ensure their rights are protected and their business interests are not impeded. Hine & Ogulluk LLP, with decades of experience in litigating and resolving the most complex of financial disputes, can provide the sage advice required to navigate modern-day financial disputes, negotiations and settlements.
Having regularly litigated complix financial disputes for decades at elite global law firms in Manhattan – the financial capital of the world – we bring a wealth of insight and experience to the table. From lawsuits arising from the collapse of Enron, the Lehman Brothers and Caesars bankruptcies, and the 2008 financial crisis, we have been at the forefront of many of the most complicated financial disputes and litigations of the past few decades. We have represented lenders, borrowers, guarantors, officers, directors, investors, shareholders, hedge funds, private equity investors, banking and brokerage industry professionals, and any number of other participants in lawsuits involving, among other things, stock purchase and sale agreements; collateralized debt obligations (CDOs); securitization transactions; options, derivatives and other financial instruments; residential mortgage backed securities (RMBS); commercial mortgage backed securities (CMBS); corporate disclosure and compliance issues; shareholder actions; securities class actions; derivative suits; claims against Boards of Directors, individual directors and committee members; accounting irregularities; lender liability; regulatory violations; and SEC and governmental enforcement proceedings. We can provide guidance to parties involved in financial disputes, develop viable strategies for addressing such disputes and, if need be, litigate them to a successful and commercially reasonable conclusion.
- In re Interest Rate Swaps Antitrust Litigation, No. 16 MD 2704 (PAE) (S.D.N.Y.) – represented eleven international financial institutions as conflicts counsel for third-party discovery, coordinating with several major law firms, in multi-billion dollar antitrust litigation involving claims of an alleged conspiracy to prevent competition in the trading of interest rate swaps.
- In re Enron (Class Action Litigation, Bankruptcy, Prosecutions and Regulatory Actions) – key members of an international legal team that, for years, defended several financial institutions in the massive and unprecedented securities class action litigation and regulatory actions stemming from the historic collapse of Enron. Specifically, represented the Royal Bank of Scotland in adversary proceedings, a shareholder class action and related cases, U.S. and foreign criminal investigations and regulatory proceedings arising out of the collapse of Enron, alleging participation in a scheme to misrepresent Enron’s financial condition via certain structured finance transactions.
- Rubenstein v. Chin, et al., No. 18-CV-07812 (LAP) (S.D.N.Y.) – successfully defended foreign CEO of publicly-traded U.K. solar energy company and Australian institutional investor against corporate insider short-swing profit claims under Section 16(b) of the Securities Exchange Act of 1934, securing withdrawal of all claims against our clients in response to our motion to dismiss.
- Rubin v. Hodes, Index No. 611503/2018 (Sup. Ct. Nassau County (Commercial Division)) – defended three companies, CEO and COO against claims of common law and securities fraud, breaches of promissory notes and related claims asserted by former investor/lender.
- National Securities Inc. v. Schiavello, et al., No. 17-02804 (FINRA) (represent registered representative in FINRA arbitration involving contract, tort and failure-to-supervise claims for securities trading losses with respect sixteen client investment accounts, in alleged violation of state and federal securities laws).
- In re Caesars Entertainment Operating Co., No. 15-01145 (ABG) (Bankr. N.D. Ill.) - represented Noteholder Committee in various litigations relating to claims against bankruptcy casino operating company and high net-worth individuals holding interests in entities related to the debtor.
- In re Lehman Brothers Holding Company, Inc., No. 08-13555 (JMP) (Bankr. S.D.N.Y.) - represented bankruptcy estate in complex trial and related proceedings involving multi-billion dollar claims arising out of the bankruptcy court-approved sale of Lehman’s North American broker-dealer business to Barclays Capital. Briefed and argued multi-million dollar summary judgment motion related thereto.
- Toledo Fund, LLC v. HSBC Bank USA, N.A., No. 1:11-CV-7686 (KBF)(RLE) (S.D.N.Y.) – represented bank in securing dismissal on summary judgment of claims brought by investor fund concerning investments in accreting strike call options.
- Lehman Brothers Auction Rate Securities Litigation (FINRA) – defended Lehman and former Leman employees in regulatory investigations and numerous high-profile civil actions and arbitrations nationwide alleging mismanagement of investment accounts, breaches of contractual and fiduciary duties, and misrepresentations to clients invested in auction rate securities.
- Motorola Credit Corp. v. Uzan, et al. (S.D.N.Y.) (N.Y.) – advised and represented the Central Bank of Jordan in civil fraud suit seeking recovery of multi-billion dollar judgment against members of Turkey’s Uzan family. The suit stemmed from billions in financing provided to the fugitive Uzans and their company, Telsim, Turkey’s second-largest mobile phone company. Represented the Central Bank in federal court proceedings, as well as on appeal before the New York Court of Appeals regarding New York courts’ powers to seize foreign assets and enforce judgments against international entities and individuals.
- BlackRock v. Wells Fargo Bank, N.A. (S.D.N.Y. and N.Y. Sup. Ct.) – defended Wells Fargo in multi-billion dollar derivative and putative class action lawsuits filed by institutional investors in residential mortgage-backed securities trusts alleging that trustee violated federal laws, breached contractual obligations and its fiduciary duties to investors. Prosecuted third-party contribution actions against investment managers PIMCO, BlackRock, Prudential and TIAA-CREF in Manhattan federal court.
- In re Lehman Derivatives Litigation (Bankr. S.D.N.Y.) – represented Lehman affiliate in adversary proceeding involving a dispute over the rights to approximately $600 million of collateral posted under several complex derivatives swap agreements. Under the terms of a very favorable settlement following mediation, the Lehman Estate received a lump sum payment constituting one of the largest recoveries to date for Lehman in the bankruptcy.
- In re Anthracite Capital, Inc., No. 10-11319 (Bankr. E.D.N.Y.) – successfully represented on a contingency fee basis the trustee of a bankrupt REIT in bringing claims of, inter alia, breach of fiduciary duty, breach of contract, and fraudulent transfer against BlackRock Financial Management, Inc. and individual BlackRock defendants arising from investments in commercial mortgage backed securities (CMBS) and related instruments, ultimately resulting in substantial settlement for the estate.
- Goode LAX Holdings LLC v. Lacrosse Unlimited, Inc., et al., Index No. 650812/2015 (Sup. Ct. N.Y. County) - represented lender in proceedings to enforce promissory note and related contracts. Briefed and argued motion for summary judgment.
- In re Sunopta Inc. Securities Litig., No. 1:08-cv-00933-PAC (S.D.N.Y.) – represented Canadian company and individual officers in putative class action asserting securities law claims and parallel claims in proceedings before Canadian courts.
- Abu Dhabi Commercial Bank P.J.S.C. v. Credit Suisse Securities (USA) LLC, et al., Index No. 115417/10 (Sup. Ct. N.Y. County) – defended individuals in case involving alleged fraud and other allegations concerning structured investment vehicle.
- In re United Rentals, Inc. Derivatives Litigation (D. Conn.) – represented members of United Rentals, Inc.’s board of directors in shareholder derivative litigation and internal investigation related to restatement of financials and allegations of accounting impropriety.
- Goodwin vs. The Reserve Funds, et al. (S.D.N.Y.) – represented investor plaintiff in securities fraud and breach of fiduciary duties action related to the sale of unsuitable securities.