Debt Restructuring and Commercial Foreclosure of Real and Personal Property. Representslenders in commercial foreclosures of real and personal property as well as the restructuring of baddebt. He is currently handling the foreclosure of a defaulted $65 million debt on a mixed-use projectin New Jersey. He also represents a client that holds in excess of $100 million in securitized seniornotes that are in default. He is pursuing litigation and structuring workouts in numerous states tocollect on the collateral securing the senior notes.Directors and Officers Litigation. Represents officers and directors of public and privatecorporations against claims filed <strong>by</strong> shareholders, including breach of fiduciary duty and fraudclaims. Recently, he successfully defended officers and directors at trial in a New Jerseybankruptcy court.Fiduciary Litigation – Federal Court. Obtained summary judgment on behalf of bank serving as adepository agent under the Federal Aviation Act. The case involved novel issues of whether aprivate right of action exists under the FAA, and, if not, whether state law claims could nonethelessbe sustained. Synovus Bank v. Valley National Bank, 487 F. Supp. 360 (S.D.N.Y 2007).Bank Syndication Litigation – Federal Court. Representing agent bank in lending syndication inaction where bank group member sought $10MM in damages alleging breach of contract andbreach of fiduciary duty. Obtained summary judgment on behalf of the agent bank.LBO Fraudulent Transfer Litigation – Bankruptcy Court. Represented a bankruptcy trustee inaction to set aside a creditor's lien on the debtor's assets obtained when the creditor funded aleveraged buyout.Fidelity Bond Litigation – Federal Court. Represented fidelity bond carrier in an action thatresulted in one of the seminal cases dealing with fidelity bond interpretation. Resolution Trust Corp.v. Fidelity and Deposit Co. of Maryland, 205 F.3d 615 (3d Cir. 2000).Jury Trial. Successfully represented a corporate plaintiff in breach of contract claim tried before ajury over five days, resulting in a $2.4 million verdict.Shareholder Disputes. Represents shareholders of closely held corporations in disputes filedunder the Minority Shareholder Oppression Act.Consumer Litigation. Represented defendants in class action and individual suits allegingviolations of federal and state consumer laws, including TILA, HOEPA, RESPA and stateconsumer protection laws.<strong>In</strong>surance Litigation. Obtained decision on behalf of an insurer affirming summary judgmentdismissal of Arthur Andersen's claim seeking coverage under an all-risk commercial propertyinsurance policy for $204 million in business losses that allegedly resulted from property damage tothe World Trade Center and Pentagon on 9/11. Arthur Andersen <strong>LLP</strong> v. Federal <strong>In</strong>s. Co., 3 A.3d1279 (2010), 416 N.J. Super. 334 (App. Div. 2010).Published DecisionsTurner v. First Union National Bank, 162 N.J. 75 (1999), affirming, Turner v. First Union NationalBank, 314 N.J. Super. 33 (App. Div. 1998) Lum v. Bank of America, et al., 361 F.3d 217 (3d Cir. 2004), cert denied, 125 S.Ct. 271 (2004) Port Authority of New York and New Jersey v. Affiliated FM <strong>In</strong>s. Co., 311 F.2d (3d Cir. 2002) Resolution Trust Corp. v. Fidelity and Deposit Co. of Maryland, 205 F.3d 615 (3d Cir. 2000) New Rock Asset Partners, L.P. v. Preferred Entity Advancements, <strong>In</strong>c., 101 F.3d 1492, 65 USLW2402 (3d Cir. 1996) Synovus Bank v. Valley National Bank, 487 F. Supp. 360 (S.D.N.Y 2007) Resolution Trust Corp v. Minassian, 777 F. Supp. 385 (D.N.J. 1991)Page 42
Arthur Andersen <strong>LLP</strong> v. Federal <strong>In</strong>s. Co., 3 A.3d 1279 (2010), 416 N.J. Super. 334 (App. Div. 2010) Laufer v. The United States Life <strong>In</strong>surance Co., 385 N.J. Super. 172 (App. Div. 2006) Touch of Class Leasing v. Mercedes-Benz Credit of Canada, <strong>In</strong>c., 248 N.J. Super. 426, 591 A.2d661, 15 UCC Rep. Serv. 2d 471 (App. Div. 1991) Stiso v. <strong>In</strong>serra Supermarkets <strong>In</strong>c., 179 A.D.2d 878, 578 N.Y.S.2d 680 (N.Y.A.D. 3 Dept.) (1992)Professional ActivitiesAmerican Bar AssociationNew Jersey State Bar Association- Bankruptcy Law Section- Banking Law SectionFederal Bar AssociationAdmissionsNew JerseyU.S. District Court for the District of New JerseyU.S. Court of Appeals for the Third CircuitU.S. Court of Appeals for the Second CircuitEducation Rutgers School of Law - Newark, J.D., 1982Experience<strong>Duane</strong> <strong>Morris</strong> <strong>LLP</strong>- Partner, 1999-presentCole, Schotz, Meisel, Forman & Leonard, Hackensack, New Jersey- Partner, 1989-1999- Associate, 1983-1988Superior Court of New Jersey- Judicial Clerk, Honorable Wilfred P. Diana, 1982-1983Board MembershipsBoard of Trustees, Union County United WayBoard of Trustees, Plainfield SymphonyBoard of Trustees, New Jersey Volunteer Lawyers for the ArtsCivic and Charitable ActivitiesPresident, United Way of Plainfield, North Plainfield, Fanwood and Scotch PlainsVice President of Development, The Plainfield Symphony SocietyPage 43