Jones Day - Services - Credit Crisis

Our multi-disciplinary Credit Crisis Team has been engaged from the outset of the current credit crisis
and is poised to meet the many challenges it presents.

Our Perspective

The financial and credit market turmoil that began in mid-2007 is more severe and is expected to be of longer duration than any of the previous capital market crises over the past several decades. The domino effect of the decline in asset values, over-leverage, and the loss of liquidity leaves troubling uncertainties for business and institutions caught in the web of the crisis. More often than not, these problems require creative and strategic legal solutions.

Jones Day's One Firm Worldwide approach to problem solving is well suited for helping its clients face the challenges presented by this crisis. Our Credit Crisis Team, consisting of more than 30 lawyers, is drawn from key offices and practice areas. Thus, depending on the nature and scope of our clients' needs, we are able to call immediately upon the talent of our Trial Practice, Banking & Finance, Mergers & Acquisitions, Capital Markets, and Business Restructuring & Reorganization lawyers to develop strategies and solutions to meet those needs.

Distinctive Representations

We have been involved in a variety of significant credit crisis matters cutting across the spectrum of dispute-driven, transactional, and regulatory issues. These include:

Representing a leading provider of information services, its board of directors, and several executives in an ERISA class action case. The core allegation in this case was that the shares of the company held in the 401(k) plan were artificially inflated due to the unlawful conspiracy between the company and a major savings and loan association to inflate home appraisals.
Representing a Dallas- and New York-based hedge fund and portfolio manager and its affiliates in a lawsuit filed by a Buffalo-based consumer bank against the hedge fund and others in connection with an investment in approximately $80 million in rated CDO notes. The suit, filed in New York state court in Buffalo, seeks over $100 million in damages, plus costs and punitive damages.
Representing a global investment bank in five arbitration matters before the FINRA involving claims in excess of $1.5 billion relating to the sale of auction rate securities.
Representing a leading financial guaranty insurance company in connection with (i) its efforts to restructure its business and (ii) contractual disputes/litigation.

Our Lawyers

Our lawyers are leaders in fields relevant to the current credit crisis. Among them are:

Corrine Ball (New York), member of the American College of Bankruptcy, the American Bankruptcy Institute, and the ABA Business Bankruptcy Committee (former chair of the Chapter 11 Subcommittee and European Insolvency Task Force); named a leading individual in bankruptcy law by Chambers Global
David Carden (New York), responsible for coordinating defense of claims for clients who have been sued or filed claims in the courts of numerous countries; extensive arbitration experience before the ICC and conducting discovery pursuant to the Hague Convention and Letters Rogatory
David Heiman (Cleveland), president of the American College of Bankruptcy, member of the board of regents of the American College of Commercial Finance Lawyers, and past chairman of the ABA Commercial Financial Services Committee

Contact(s)

Corinne Ball
New York
Tel: 1.212.326.3939
E-mail

David L. Carden
New York
Tel: 1.212.326.3939
E-mail

David G. Heiman
Cleveland
Tel: 1.216.586.3939
E-mail

Ralph F. MacDonald III
Atlanta
Tel: 1.404.521.3939
E-mail

Edward J. O'Connell
New York
Tel: 1.212.326.3939
E-mail

Mark K. Sisitsky
New York
Tel: 1.212.326.3939
E-mail

Jayant W. Tambe
New York
Tel: 1.212.326.3939
E-mail

	Print Page Email Page Select a Language Credit Crisis - Overview
Lawyers Staff Overview Professionals News Publications Contact(s) Corinne Ball New York Tel: 1.212.326.3939 E-mail David L. Carden New York Tel: 1.212.326.3939 E-mail David G. Heiman Cleveland Tel: 1.216.586.3939 E-mail Ralph F. MacDonald III Atlanta Tel: 1.404.521.3939 E-mail Edward J. O'Connell New York Tel: 1.212.326.3939 E-mail Mark K. Sisitsky New York Tel: 1.212.326.3939 E-mail Jayant W. Tambe New York Tel: 1.212.326.3939 E-mail	Our multi-disciplinary Credit Crisis Team has been engaged from the outset of the current credit crisis and is poised to meet the many challenges it presents. Our Perspective The financial and credit market turmoil that began in mid-2007 is more severe and is expected to be of longer duration than any of the previous capital market crises over the past several decades. The domino effect of the decline in asset values, over-leverage, and the loss of liquidity leaves troubling uncertainties for business and institutions caught in the web of the crisis. More often than not, these problems require creative and strategic legal solutions. Jones Day's One Firm Worldwide approach to problem solving is well suited for helping its clients face the challenges presented by this crisis. Our Credit Crisis Team, consisting of more than 30 lawyers, is drawn from key offices and practice areas. Thus, depending on the nature and scope of our clients' needs, we are able to call immediately upon the talent of our Trial Practice, Banking & Finance, Mergers & Acquisitions, Capital Markets, and Business Restructuring & Reorganization lawyers to develop strategies and solutions to meet those needs. Distinctive Representations We have been involved in a variety of significant credit crisis matters cutting across the spectrum of dispute-driven, transactional, and regulatory issues. These include: Representing a leading provider of information services, its board of directors, and several executives in an ERISA class action case. The core allegation in this case was that the shares of the company held in the 401(k) plan were artificially inflated due to the unlawful conspiracy between the company and a major savings and loan association to inflate home appraisals. Representing a Dallas- and New York-based hedge fund and portfolio manager and its affiliates in a lawsuit filed by a Buffalo-based consumer bank against the hedge fund and others in connection with an investment in approximately $80 million in rated CDO notes. The suit, filed in New York state court in Buffalo, seeks over $100 million in damages, plus costs and punitive damages. Representing a global investment bank in five arbitration matters before the FINRA involving claims in excess of $1.5 billion relating to the sale of auction rate securities. Representing a leading financial guaranty insurance company in connection with (i) its efforts to restructure its business and (ii) contractual disputes/litigation. Our Lawyers Our lawyers are leaders in fields relevant to the current credit crisis. Among them are: Corrine Ball (New York), member of the American College of Bankruptcy, the American Bankruptcy Institute, and the ABA Business Bankruptcy Committee (former chair of the Chapter 11 Subcommittee and European Insolvency Task Force); named a leading individual in bankruptcy law by Chambers Global David Carden (New York), responsible for coordinating defense of claims for clients who have been sued or filed claims in the courts of numerous countries; extensive arbitration experience before the ICC and conducting discovery pursuant to the Hague Convention and Letters Rogatory David Heiman (Cleveland), president of the American College of Bankruptcy, member of the board of regents of the American College of Commercial Finance Lawyers, and past chairman of the ABA Commercial Financial Services Committee Contact(s) Corinne Ball New York Tel: 1.212.326.3939 E-mail David L. Carden New York Tel: 1.212.326.3939 E-mail David G. Heiman Cleveland Tel: 1.216.586.3939 E-mail Ralph F. MacDonald III Atlanta Tel: 1.404.521.3939 E-mail Edward J. O'Connell New York Tel: 1.212.326.3939 E-mail Mark K. Sisitsky New York Tel: 1.212.326.3939 E-mail Jayant W. Tambe New York Tel: 1.212.326.3939 E-mail