Financial Services

General Financial Services Litigation
Representation of banking and other financial services clients in the defense of claims asserted by borrowers, customers, employees, co-lenders and parties to bank acquisition transactions. Representative clients have included: Union Bank of California, Wells Fargo Bank, California First Bank, Security Pacific National Bank, First Interstate Bank, The Hibernia Bank, Hong Kong Shanghai Commercial Bank, Bank of Montreal, American Asian Bank and ABN-LaSalle Bank, as well as numerous savings and loan associations placed either in conservatorship or receivership by the Federal Savings and Loan Insurance Corporation.

Financial Fraud Litigation
Representation of banking clients in connection with major fraud claims involving customers and employees. Representation of individuals and both domestic and international companies in pursuing claims against brokerage firms and investment banks based on alleged mismanagement and fraudulent misappropriation of funds. This representation has also involved participation in parallel criminal investigations and prosecutions conducted by the FBI and United States Attorneys' Office to obtain restitution in the related civil actions.

Insurance Coverage Litigation
Representation of lenders, professionals acting on behalf of lenders, and federal regulators in connection with insurance claims made on a variety of insurance coverages, including bankers blanket bonds, D&O policies, bankers' professional liability policies, real estate development policies and comprehensive general liability policies.

Representation of Regulatory Entities
Representation of the Federal Savings and Loan Insurance Corporation ("FSLIC"), the Federal Home Loan Bank Board ("FHLBB"), and the Federal Deposit Insurance Corporation ("FDIC"), in connection with failed savings and loan associations. Representative associations have included: American Savings & Loan Association, Columbus Savings & Loan Association, Gateway Savings Bank, United Savings Bank, Stanford Savings & Loan Association, Equitable Savings & Loan Association, Consolidated Savings & Loan Association, Mt. Whitney Savings & Loan Association, and Manhattan Beach Savings & Loan Association. The scope of representation included:

The investigation and prosecution of claims against former officers and directors, attorneys, accountants and other professionals for breaches of fiduciary duty, fraud and negligence;
The preparation of criminal referrals for the United States Attorneys' Office;
The defense of "lender liability" actions brought against associations;
General loan "workout" advice in connection with commercial and real estate loans and joint venture arrangements;
The management and supervision of "subcontract" attorneys retained to handle litigation and business matters on behalf of the association; and
General advice regarding such matters as loan documentation, employment disputes, leasing issues and other matters pertaining to the continuing business operations of the associations.

Director and Officer Liability Litigation
Representation of directors and officers of banks and bank holding companies and savings and loan associations in the defense of litigation claims and in connection with indemnity issues and insurance coverage. This representation has also included the analysis and pursuit of claims against directors and officers for breaches of fiduciary duty, fraud and negligence on behalf of the FSLIC and FDIC.