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Credit Crisis
Credit Crisis
Our multi-disciplinary Credit Crisis Team has been engaged from the outset of the current credit crisis and is poised to meet the many challenges it presents.
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Our multi-disciplinary Credit Crisis Team has been engaged from the outset of the current credit crisis and is poised to meet the many challenges it presents.
The financial and credit market turmoil that began in mid-2007 is more severe and is expected to be of longer duration than any of the previous capital market crises over the past several decades. The domino effect of the decline in asset values, over-leverage, and the loss of liquidity leaves troubling uncertainties for business and institutions caught in the web of the crisis. More often than not, these problems require creative and strategic legal solutions.
Jones Day's One Firm Worldwide approach to problem solving is well suited for helping its clients face the challenges presented by this crisis. Our Credit Crisis Team, consisting of more than 30 lawyers, is drawn from key offices and practice areas. Thus, depending on the nature and scope of our clients' needs, we are able to call immediately upon the talent of our Trial Practice, Banking & Finance, Mergers & Acquisitions, Capital Markets, and Business Restructuring & Reorganization lawyers to develop strategies and solutions to meet those needs.
Distinctive Representations
We have been involved in a variety of significant credit crisis matters cutting across the spectrum of dispute-driven, transactional, and regulatory issues. These include:
Representing a leading provider of information services, its board of directors, and several executives in an ERISA class action case. The core allegation in this case was that the shares of the company held in the 401(k) plan were artificially inflated due to the unlawful conspiracy between the company and a major savings and loan association to inflate home appraisals.
Representing a Dallas- and New York-based hedge fund and portfolio manager and its affiliates in a lawsuit filed by a Buffalo-based consumer bank against the hedge fund and others in connection with an investment in approximately $80 million in rated CDO notes. The suit, filed in New York state court in Buffalo, seeks over $100 million in damages, plus costs and punitive damages.
Representing a global investment bank in five arbitration matters before the FINRA involving claims in excess of $1.5 billion relating to the sale of auction rate securities.
Representing a leading financial guaranty insurance company in connection with (i) its efforts to restructure its business and (ii) contractual disputes/litigation.
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