Jayant W.Tambe (Jay)

Practice Leader Financial Institutions Litigation & Regulation

(T) 1.212.326.3604

Jay Tambe, who serves as co-leader of the Firm's Financial Institutions Litigation & Regulation Practice, advises financial institutions on litigations concerning securities, derivatives, credit default swaps, collateralized debt obligations, and other financial products. Many of his cases involve cross-border disputes, and he is well-versed in navigating international discovery and judgment enforcement.

Jay has litigated significant claims involving CLOs, CDOs, CLNs, and other structured finance investments in the New York state and federal courts, including many precedent-setting CDO litigations. He also led the team that prevailed in the very first appeal before ISDA's external review panel. For nearly 10 years Jay represented Lehman Bros. Holdings, Inc. and its affiliated debtors in more than 50 separate derivatives disputes, including several evidentiary hearings and trials. Currently Jay is defending Wells Fargo in numerous actions brought by institutional investors concerning more than 280 separate RMBS trusts.

Jay routinely provides prelitigation advice on documentation and risk mitigation and is a frequent speaker on complex financial products.

Video

Experience

  • Major Indian pharmaceutical company defends against securities fraud class action relating to FDA warning letterJones Day is defending a class action lawsuit filed against a major Indian pharmaceutical company in federal court, alleging violations of the federal securities laws in connection with a warning letter issued by the U.S. Food and Drug Administration ("FDA") to the company.
  • Global financial institution defends claims in VRDO mattersJones Day is defending a global financial institution in several matters related to its activities as remarketing agent for variable rate demand obligations (“VRDOs”) issued by agencies or units of state and local government.
  • Wells Fargo defends derivative and putative class action claims alleging wrongdoing with respect to 282 residential mortgage-backed securities trustsJones Day is defending Wells Fargo Bank, National Association in four derivative and putative class action lawsuits filed by institutional investors in 282 residential mortgage-backed securities trusts.
  • Wells Fargo Securities and BNP Paribas obtain Second Circuit affirmation of summary judgment win in securities fraud suitJones Day defended Wells Fargo Securities, LLC, as successor to Wachovia Capital Markets LLC, and BNP Paribas, as successor to Fortis Securities LLC, who were involved in placing a CDO called Grand Avenue CDO II (Grand Avenue).
  • Wells Fargo obtains denial of class certification in RMBS trustee litigation alleging hundreds of millions of dollars in lossesJones Day represents Wells Fargo Bank, N.A., in a putative class action alleging hundreds of millions of dollars in classwide losses to investors on notes issued by two residential mortgage backed securities (RMBS) trusts for which Wells Fargo serves as trustee.
  • Wells Fargo defends against complaint filed by Nomura Credit & Capital Inc. alleging representations and warranties breachJones Day is representing Wells Fargo, National Association in a third-party complaint filed by Nomura Credit & Capital, Inc., the mortgage loan seller of six RMBS trusts.
  • iYogi defends against Telephone Consumer Protection Act putative class actionJones Day is representing iYogi, Inc. in connection with a putative class action asserting violations of the Telephone Consumer Protection Act.
  • Deutsche Bank defends against lawsuit by Arco Capital CorporationJones Day represents Deutsche Bank AG in an action alleging misconduct in connection with an emerging market collateral loan obligation ("CLO"), which as a synthetic CLO involved credit default swap agreements in which Deutsche Bank was the CLO issuer's swap counterparty.
  • Lehman Brothers, as Plan Administrator, challenges calculation of derivative termination paymentJones Day is representing Lehman Brothers Holdings Inc., as Plan Administrator, regarding calculation of derivative termination payment and possible recovery of collateral in connection with an accelerated share repurchase transaction between Lehman Brothers OTC Derivatives Inc and Intel Corporation.
  • Banorte obtains dismissal of claims it tortiously interfered with financial services consulting agreementJones Day successfully defended Banorte, a major Mexican bank, and its affiliates and certain of their directors and officers who were sued in New York Supreme Court on the allegation that they had tortiously interfered with plaintiffs' financial services consulting agreement with co-defendant Metrofinanciera in connection with the termination of a foreign exchange swap agreement between Metrofinanciera and a Banorte affiliate.
  • Mahindra Satyam resolves global investor claimsJones Day resolved world-wide claims brought against Mahindra Satyam by former investors in connection with the alleged admission of Satyam's former Chairman that he deliberately misstated the Company's accounts for several years.
  • Global financial institution responds to FINRA arbitrationJones Day represented a global financial institution in a FINRA arbitration concerning sale of TRUPs, CDOs, and CLOs to community bank.
  • HSBC Bank successfully defends against alleged breach of contract and various related tort claims arising from swap transactionJones Day successfully defended HSBC Bank USA, N.A. ("HSBC") in an action filed by Toledo Fund, LLC ("Toledo") in Supreme Court, New York County, and then removed to the United States District Court for the Southern District of New York.
  • Greenwich Capital Markets and CDO issuers obtain dismissal of CDO litigation brought by M&T BankJones Day successfully defended broker-dealer Greenwich Capital Markets, Inc. ("Greenwich") and issuers Cairn Mezz ABS CDO III, Ltd. and Cairn Mezz ABS CDO III Inc. (together, "Cairn") in a CDO litigation brought by M&T Bank.
  • Lehman Brothers bankruptcy estate obtains advice in connection with potential litigation concerning derivative transactionsJones Day represents Lehman Brothers Holdings Inc. and its affiliated debtors and debtors-in-possession in the chapter 11 bankruptcy proceedings before the United States Bankruptcy Court.
  • PNC obtains advice regarding RMBS transactionJones day advised PNC Financial Services Group in connection with transactional and pre-litigation counseling in capacity as originator and servicer under an RMBS transaction.
  • HBK Investments defends against CDO litigation filed by one of nation's 20 largest banksJones Day represented HBK Investments, LLC, a Dallas-based hedge fund, and its general partners in a CDO litigation filed by one of the nation's 20 largest banks, which alleged fraud, breach of fiduciary duties, and violation of New York's consumer protection statute in connection with the bank's investment in Notes issued by Gemstone CDO VII, a hybrid CDO.
  • Lehman Brothers Holdings seeks recovery of undisclosed asset value transferred in bankruptcy sale of broker dealerJones Day represents Lehman Brothers Holdings Inc. in an action to recover assets transferred to Barclays Capital Inc. when Barclays purchased the Lehman broker dealer business shortly after Lehman's bankruptcy filing in September 2008.
  • Satyam Computer Services defends securities fraud class actionJones Day is representing Satyam Computer Services Ltd. (n/k/a Mahindra Satyam) in a securities class action filed in the Southern District of New York.
  • Morgan Keegan defends against Trust Preferred CDO claimsJones Day defended Morgan Keegan & Company, Inc., a premier regional investment firm, in litigation against claims on bank trust preferred collateralized debt obligation ("CDO") investments.
  • Speaking Engagements

    • January 23, 2018
      7th Annual Conference of P.R.I.M.E. Finance
    • April 29, 2015
      Turmoil in the Oil Patch: Risks and Opportunities for Oil & Gas Investors and Companies
    • January 26-27, 2015
      4th Annual Conference of P.R.I.M.E. Finance
    • July 18, 2013
      The New York State Department Of Financial Services: How and Why Banks and Other Public and Private Financial Institutions Must Keep Close Tabs on this New Aggressive Regulator, West LegalEdcenter
    • October 19, 2011
      Decisions Impacting Financial Institutions
    • October 2, 2009
      Credit Default Swaps - Recent Developments (View webcast here)
    • June 10, 2009
      CDO Litigation Reaching a Crucial Stage (View the webcast here)
    • February 27, 2009
      The Obama Presidency: The Impact of Changing U.S. Policies on Asian Business and The Global Economy
    • November 18, 2008
      The Subprime Crisis: Restructuring in the Financial Sector and Securities Litigation in the United States and Europe
    • March 18, 2008
      Recent Trends in CDO and Derivative Litigation, NYSBA Derivatives and Structured Products Law Committee
      Presentation notes - PDF 
    • March 11-14, 2008
      American and English Perspectives on CDO Litigation, In-House Legal and Banking Professionals, Multiple Global Investment Banks
      Presentation notes - PDF
    • February 26-27, 2008
      The Future of the CDO, panelist, IQPC Subprime Conference
    • November 6, 2007
      Examining Litigation Attacks on the Typical CDO Structure, 3d Annual IQPC Securities Litigation Conference
    • September 11, 2007
      Evaluating the Risks of CDO Litigation, Global Investment Bank
    • June 20, 2007
      Recent Developments in CDO and Derivatives Litigation, Chief Legal Officers Global Investment Bank
    • May 22, 2007
      CDO Litigation at the SIFMA CDO Legal Roundtable
    • May 21, 2007
      Current Issues Concerning the In-House Privilege, In-House Legal and Compliance Staff, Fortune 500 Company
    • May 21, 2007
      Developments in the Law on Attorney-Client Privilege and Work Product Protection
    • April 30, 2007
      Derivatives and CDO Litigation, ACI Conference on Counterparty Relationship Documents for Derivatives and Synthetic CDOs
    • December 12, 2006
      CDO and Derivatives Litigation, In-House Legal and Banking Professionals, Global Investment Bank
    • November 16, 2006
      Scheme Liability under Federal Securities Law
    • November 13, 2006
      Effectiveness of Disclaimers of Reliance in Derivatives and CDO Documentation, In-House Legal and Banking Professionals, Global Investment Bank
    • October 10, 2006
      CDO and Derivatives Litigation at the Fifth Annual Credit Conference of IXIS Capital Markets
    • October 2005
      United States Securities Litigation
    • July 2005
      Recent Developments in CDO and Derivatives Litigation
    • June 2005
      Recent Developments in Derivatives Litigation
    • September 22-23, 2004
      Document Retention and E-Discovery

    • Practical Issues in Electronic Document Retention and Discovery
    We use cookies to deliver our online services. Details of the cookies and other tracking technologies we use and instructions on how to disable them are set out in our Cookies Policy. By using this website you consent to our use of cookies.