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FINANCIAL SERVICES LITIGATIONStrasburger & Price, LLP has represented banks, savings and loan associations, credit unions, credit reporting agencies, and their officers and directors, in all types of litigation, collection and enforcement of judgments (including extraordinary remedies, such as injunction actions involving real estate and other bank collateral, sequestration, attachment, and garnishment), trust and fiduciary litigation, lender liability, usury, duty of good faith and RICO claims. We have handled cases involving embezzlement, forgery, fictitious payees, wrongful repossession, conversion, fraud, breach of fiduciary duty, deceptive trade practices, state and federal fair debt collection statutes, white-collar crime (e.g., bank fraud, currency reporting, suspicious activity reporting, securities fraud, money laundering, antitrust, Foreign Corrupt Practices Act, and internal investigations), and class action litigation. Our trial lawyers have also represented financial institutions in litigation in bankruptcy, employment, tax and environmental areas. Representative cases:
- Represented national bank in litigation involving claims of fraud and breach of complex loan agreement secured by hundreds of oil and gas leases and negotiated settlement.
- Obtained settlement of lender liability claim in which plaintiff sought to cancel $17 million debt and to recover $22 million for destruction of business.
- Represented bank in lender liability action by cotenant in a shopping mall alleging that bank which made $29 million construction loan to refurbish the mall conspired with the other cotenants and aided and abetted breach of contract, fraud, and deceptive trade practices, and companion declaratory judgment action by bank seeking declaration that the execution of the note and deed of trust was authorized by the cotenancy agreement and that the debtor was estopped from contesting their validity.
- Handled appeal of $880,000 judgment against bank in a wrongful foreclosure action brought by guarantor whose corporate stock was purchased at private foreclosure sale by secured creditor bank.
- Obtained summary judgment for bank holding a first-filed security interest in debtor's accounts receivable in conversion action against supplier of x-ray equipment who claimed a purchase money security interest in debtor's accounts receivable.
- Obtained summary judgment on behalf of credit union in suit for alleged bad faith demand for additional collateral, breach of contract, wrongful acceleration, fraud, deceptive trade practices, and usury, seeking $7 million and recovery of over $1 million on the credit union's counterclaim.
- Defeated a claim against the bank for breach of good faith and fair dealing, fraud and negligence, and recovered on the bank's counterclaim for fraudulent transfer in a case involving $300,000 in forged postal money orders.
- Settled action by bank shareholder against bank for fraud and breach of contract for failure to use best efforts to sell bank stock.
- Obtained summary judgment for $640,000 for fidelity insurer for credit union in subrogation action against foreign national who withdrew unauthorized funds deposited into his account by credit union employee and deposited them in national bank.
- Obtained summary judgment for credit union in defamation action by a customer brought against the credit union and credit reporting agency, based on alert which implicated his account in check-kiting activity without specifying that he was a victim.
- Represented creditor in suit to recover for bank's alleged conversion of cash proceeds from sale of collateral in which creditor claimed prior interest.
- Obtained dismissal of claim against bank for payment of $200,000 check over unauthorized endorsement.
- Represented secured party in action against motorcycle retailer after retailer had allegedly defaulted under wholesale financing agreement that granted secured party a purchase money security interest. Obtained temporary restraining order and writ of sequestration to recover collateral.
- Obtained judgment for bank in trial court and on appeal in case brought by drawer of check arising out of payment of funds over a forged indorsement.
- Negotiated pre-suit settlement of aircraft repair facility's lien to facilitate bank's foreclosure on aircraft held by repair facility.
- Obtained temporary restraining order preventing the removal and disposition of golf carts pledged as collateral on loan and negotiated delivery of collateral prior to temporary injunction hearing.
- Obtained reversal on appeal of punitive damage award against bank arising out of attempted foreclosure.
- Obtained dismissal of suit against bank for $100 million in damages arising out of its alleged participation in a fraudulent insurance scheme.
- Obtained dismissal prior to class certification of nationwide consumer class action alleging violations of RESPA in consumer home loans for national bank.
- Obtained voluntary withdrawal of class-certification allegations and complete settlement of nationwide class action against mortgage company alleging RESPA violations in residential mortgages.
- Protected first lien interests of national banks and lending institutions in criminal forfeiture and tax lien actions.
- Obtained summary judgment and recovery of attorneys' fees for national bank serving as a corporate fiduciary in complex litigation alleging breach of fiduciary duty in management of assets.
- Obtained dismissal, including agreement of no liability, for a national bank serving as a corporate fiduciary in a complex breach of fiduciary duty and tort case.
- Obtained settlements for national banks serving as corporate fiduciaries after significant litigation of complex probate, trust and fiduciary disputes.
- Successfully terminated trusts and litigated resignations of corporate fiduciaries on behalf of national banks in disputes with beneficiaries.
- Represented national bank in over 300 suits involving garnishments, temporary restraining orders, injunctions and receiverships.
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