Special Litigation and Conflicts Counsel
The firm also adds value to clients by being conflict free for crucial lender litigation. The firm is a prime candidate for conflicts counsel for estate professionals (both debtor and committee) as it typically does not represent lenders and is frequently retained as conflicts counsel to committees and as special counsel to participate in complex litigation (adversary proceedings) within chapter 11 proceedings. Elliott Greenleaf has experience in negotiating and litigating against lenders to achieve results for debtors, unsecured creditors committees, other statutory committees, without expending excessive fees. The firm’s commitment to its special litigation and conflicts counsel clients is both borne out by its conflict free position as well as its litigation expertise
Many firms cannot avoid having significant institutional conflicts that necessitate the retention of Special Counsel. Critical committee and debtor resources are better spent retaining counsel with significant experience, without conflicts, who are also renowned for their bankruptcy litigation representations. Elliott Greenleaf is frequently retained as conflicts counsel to committees and as special counsel to participate in complex litigation within chapter 11 proceedings. Some representative engagements include the Washington Mutual, Qimonda, GWLS, Proliance, and Philadelphia Newspapers bankruptcies.
Significantly, the firm’s role in the Washington Mutual case resulted in a global settlement of $4 billion in a case in controversy against JPMorgan. The Wall Street Journal reported that as the case progressed, the total amount in controversy including tax refunds, intellectual property and contractual rights, all assets associated with the old Washington Mutual, pushed the total value at stake to more than $10 billion.