Representing a group of noteholders in the multi-billion dollar National Collegiate Student Loan Trusts, including Angelo Gordon, Waterfall Asset Management, One William Street Capital Management, and Libremax Capital, in litigations nationwide concerning the management and control of the Trusts, and as interested parties in CFPB enforcement proceedings against the Trusts.
Representing investment vehicles associated with Carl Icahn, one of Wall Street’s most successful investors and activists, in a case in Nevada state court against Rialto Capital Advisors for breach of contract and fraud in connection with Rialto’s servicing of a commercial mortgage-backed securities (CMBS) trust secured by the Prizm Outlets mall in Primm, Nevada, which resulted in a loss of almost $73 million, plus almost $13 million in fees, the largest loss on a CMBS conduit loan since the 2008 financial crisis.
Represented several investment and pension funds bringing direct securities fraud claims against Valeant Pharmaceuticals (n/k/a Bausch Health) and its officers arising from Valeant’s improper accounting and billions of dollars of fraud-related losses for shareholders.
Represented Astra Asset Management, a London-based asset manager, in a trust instruction proceeding against Goldman Sachs involving Astra’s investment in an Abacus CDO sponsored by Goldman Sachs. Astra, which was seeking to require the distribution of $55 million in collateral appreciation to investors, rather than to Goldman, won two dispositive motions; Goldman Sachs settled with Astra on the eve of trial.
Represented several of the world’s largest asset managers in a direct securities fraud action against bond underwriters, counsel, and others for claims arising from the bankruptcy of Legacy Cares, Inc., which financed the development of Legacy Sports Park through two municipal bond offerings totaling $280 million.
Represented a major New York real estate development company and its principal in connection with claims arising from the condemnation of Union Station in Washington, D.C. and related claims under loan documents.
