HowardSidman

Deputy Chair ESG

New York + 1.212.326.3418

Howard Sidman is the deputy chair of environmental, social & governance (ESG) at Jones Day, and he regularly advises clients on ESG litigation and risk issues. Howard represents financial institutions and other companies in ESG-related investigations and complex commercial disputes. Howard also counsels clients on risk issues connected with ESG-related regulations, energy transition, green bonds, and sustainability-linked loans.

Howard also has more than 10 years of experience relating to residential mortgage-backed securities (RMBS) and issues relating to the LIBOR (London Interbank Offered Rate) transition. In addition, Howard counsels clients on RMBS repurchase and servicing-related contractual disputes. He has successfully argued an issue of first impression to the New York Court of Appeals relating to the statute of limitations for securitizations. As part of his practice, Howard routinely counsels trustees, master servicers, servicers, monoline insurers, institutional investors, asset managers, and mortgage loan originators along with other responsible parties. He also advises and defends claims relating to other structured products transactions such as credit default swaps and collateralized debt obligations.

Beyond his work on behalf of financial institutions, Howard's civil litigation experience includes securities class actions, complex commercial class actions, and contract disputes. He won a multimillion dollar breach of contract dispute on behalf of a satellite operator against a commercial satellite launcher. He also successfully resolved a putative class action against Macy's department stores by a large class of vendors and assisted a major railcar manufacturer with the successful resolution of contractual disputes with various state governments.

Experience

  • Wells Fargo resolves derivative and putative class action claims alleging wrongdoing with respect to 272 residential mortgage-backed securities trustsJones Day successfully resolved three putative class actions filed by institutional investors in 272 residential mortgage-backed securities (RMBS) trusts.
  • Wells Fargo defends against complaint filed by Nomura Credit & Capital Inc. alleging representations and warranties breachJones Day is representing Wells Fargo, National Association in a third-party complaint filed by Nomura Credit & Capital, Inc., the mortgage loan seller of six RMBS trusts.
  • Quicken Loans obtains dismissal of RMBS putback suit in federal courtJones Day obtained a dismissal of an RMBS putback suit for Quicken Loans Inc., the mortgage loan originator, brought in New York state court and removed to the U.S. District Court for the Southern District of New York.
  • European bank consortium resolves litigation with project sponsor in connection with Spanish solar power plant financingJones Day successfully represented a consortium of thirteen European banks in litigation concerning the construction of two thermosolar power plants in Spain in a billion dollar dispute with the project's sponsor concerning the project financing.
  • Quicken Loans successfully defends against RMBS putback suit in New York State courtJones Day successfully defended Quicken Loans, Inc., a mortgage lender based in Detroit, Michigan, against a suit brought on behalf of investors in a residential mortgage-backed securities ("RMBS") trust in New York state court.
  • FGIC's $1.8 billion claims against Residential Capital successfully resolvedJones Day represented Financial Guarantee Insurance Company ("FGIC") in its capacity as one of the largest unsecured creditors and co-chair of the official committee of unsecured creditors of Residential Capital ("ResCap") and its affiliated debtors appointed in the chapter 11 cases.
  • Epsilon/Westford Funds and affiliates defend against bankruptcy related claims in Dreier LLP bankruptcyJones Day is defending Epsilon/Westford Funds and its affiliates against claims brought by the chapter 11 trustee for Dreier LLP. The trustee seeks to avoid as fraudulent conveyances payments made in connection with loans totaling in excess of $100 million.
  • Satellite operator wins multi-million dollar award in arbitration against commercial satellite launcherIn April 2011, the AAA's International Centre for Dispute Resolution issued a multi-million dollar award in favor of a satellite operator, represented by Jones Day, in connection with its contract claim against a commercial satellite launcher.
  • NACCO resolves claims against Harbinger hedge fundsIn 2006, Applica Incorporated terminated its merger agreement with Jones Day client NACCO Industries, Inc. in favor of a competing offer from the Harbinger hedge funds.
  • Prince Jefri Bolkiah, member of Bruneian royal family, pursues claims of fraud and breach of fiduciary duty against two former advisorsJones Day represents Prince Jefri Bolkiah, a member of the royal family of Brunei, pursuing claims of fraud and breach of fiduciary duty against two former advisors of Prince Jefri, Faith Zaman and Thomas Derbyshire, and related parties.
  • Huntsman Corporation recovers $475 million from over 20 reinsurance companiesJones Day represented Huntsman Corporation in connection with its recovery of $475 million from over 20 reinsurance companies with respect to claims relating to property damage and business interruption losses following an April 2006 fire at a petrochemical plant in Port Arthur, Texas.
  • Huntsman Corporation successfully recovers $7 million from reinsurance companies with respect to contested claims relating to Hurricane RitaJones Day represented Huntsman Corporation in connection with its recovery of $7 million from reinsurance companies (for a total recovery of over $48 million) with respect to contested claims relating to property damage and business interruption losses caused by Hurricane Rita at a Huntsman ethylene plant.
  • HRH Prince Jefri defends against litigation brought in United States and elsewhere by Brunei Investment AgencyJones Day has represented Prince Jefri Bolkiah in the U.S. in connection with litigation brought by Bandone Sdn Bhd, a corporation owned by the government of Brunei.
  • Mitsubishi pursues injunctive relief in N.Y. Supreme Court in international multi-million dollar letter-of-credit disputeJones Day represented Mitsubishi Corporation in a time-sensitive New York Supreme Court proceeding for a temporary restraining order and preliminary injunctive relief involving a multi-million dollar, international, letter-of-credit dispute.
  • Additional Speaking Engagements

    • October 23, 2019
      American Banker's Association — Corporate Trust Committee
    • September 28, 2014
      Recent Developments in RMBS Repurchase Litigation, MBA's Regulatory Compliance Conference 2014