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Private Fund Disputes

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Rankings & Honors

  • Ranked as National Tier One in U.S. News/Best Lawyers “Best Law Firms” in Real Estate Law and Commercial Litigation. Received metropolitan honors in Real Estate Law and Commercial Litigation in Boston and Rochester and Construction Litigation in San Francisco.
  • BTI Litigation Outlook 2013
    • “Most Feared Law Firm”—Honor Roll
    • Strong Performance—Commercial Litigation, IP Litigation, Product Liability Litigation
  • Chambers USA/Global
  • Legal 500
  • Benchmark: Litigation/Appellate
 

PRIVATE FUND DISPUTES

We use our vast and deep understanding of the private funds industry to solve disputes unique to alternative investments and guide our clients away from developing disputes.

Our approach

The private fund industry is confronting greater litigation risk than ever.

In the mid-1990s, long before the credit crisis and the subsequent turmoil, we developed a cutting-edge practice in this area, representing sponsors of private investment funds, including tax credit partnerships and venture capital funds.

Today, we use our experience and judgment to solve complex disputes affecting a variety of private investment funds, including hedge, private equity and venture funds, collateralized debt obligations (CDO), asset-backed securities (ABS) and real estate investment partnerships.

We understand the duties and obligations of funds and managers, so we can assist with any challenge, from day-to-day obligations to control contests, winding down and liquidation.

Our team is among the industry’s finest in handling fraud-based redemption and clawback disputes and related insolvency proceedings. We provide advice and representation in criminal and civil investigations ranging from insider trading to record retention compliance.

We represent clients in both U.S. domestic funds and in funds domiciled offshore in the Cayman Islands, British Virgin Islands (B.V.I.) and in Europe.

Who we work with

  • Hedge Funds
  • Hedge Fund Managers
  • Private Equity Funds
  • Private Equity Funds Managers
  • Investors
  • Liquidators
  • Insolvent Estates

Representative Experience

  • Representing Mount Capital Fund Limited, a British Virgin Island-based hedge fund, in a $50 million preference and claw back action brought by the Madoff trustee.

    Representing Mount Capital Fund Limited, a British Virgin Island-based hedge fund, in a $50 million preference and clawback action brought by the Madoff trustee, in one of the first sales of Madoff-tied SIPA claims to a third party, and with litigation advice related to recovery of assets lost in Madoff-related funds.

  • Representing John Hancock in a suit brought by an LLC over lost assets from its multi-million dollar investment through variable life insurance policies in Tremont Group Holdings Inc. fund.
    Representing John Hancock in a suit brought by an LLC over lost assets from its multi-million dollar investment through variable life insurance policies in Tremont Group Holdings Inc. fund.
  • Representing ThreeAM SPC a Cayman Island-based hedge fund of funds in valuation/liquidation disputes with various PIPE funds.
    Representing ThreeAM SPC a Cayman Island-based hedge fund of funds in valuation/liquidation disputes with various PIPE funds.
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  • Representing Credit Suisse entities and executives as co-counsel in actions brought by the Massachusetts Mutual Life Insurance Company and the Federal Home Loan Bank of Boston

    Representing Credit Suisse entities and executives as co-counsel in actions brought by the Massachusetts Mutual Life Insurance Company and the Federal Home Loan Bank of Boston, who are seeking billions of dollars in rescission against issuers, sponsors, and underwriters of residential mortgage-backed securities.

  • Representing Boston Capital in numerous limited partnership disputes related to syndicated tax credit funds.
    Representing Boston Capital in numerous limited partnership disputes related to syndicated tax credit funds.

  • Representing Cayman Island and Delaware-based special purpose vehicles (SPVs) in putative securities class action alleging fraud under both New York law and Section 10(b) of the Securities Exchange Act of 1934.

    Representing Cayman Island and Delaware-based special purpose vehicles (SPVs) in putative securities class action alleging fraud under both New York law and Section 10(b) of the Securities Exchange Act of 1934. The claims arise out of losses that the lead plaintiff investment fund alleges were suffered in connection with two synthetic CDO transactions that offered investors exposure to the performance of subprime residential mortgage-backed securities through certain credit default swap.

  • Defended nine pairs of Cayman Island and Delaware-based issuer/co-issuer defendants in a $100 million securities fraud case involving the sale of Collateralized Debt Obligations (CDOs), resulting in a complete dismissal of the case.
    Defended nine pairs of Cayman Island and Delaware-based issuer/co-issuer defendants in a $100 million securities fraud case involving the sale of collateralized debt obligations (CDOs), resulting in a complete dismissal of the case.

Media Clips

  • Cybersecurity Best Practices for Senior Bank Management
    Bloomberg BNA Banking Report | March 21, 2016
    Chicago partner Susan Feibus authored this column about important considerations for financial institutions to take in terms of policies and procedures that address the cyber threat environment and resilience to cyber attacks.
  • Private Fund Regulation in 2015—SEC Levels Up
    Law360 | December 18, 2015
    Boston partner and deputy chairman of the Private Investment Fund Disputes team Stephen LaRose and Boston associate Kathleen Ceglarski Burns co-authored this article. The piece discusses how the U.S. Securities and Exchange Commission’s focus on private fund advisers has shifted from learning and information gathering to examination and enforcement activity.
  • U.S. PE Firms Greet AIFMD With a Shrug—for Now
    Dow Jones Private Equity Analyst | September 1, 2014
    Boston partner and co-leader of the Commercial Litigation practice Jon Sablone provides commentary on implications of the European Alternative Investment Fund Managers Directive for U.S. private equity firms.
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  • Resolving Post-Acquisition Disputes
    Financier Worldwide | August 1, 2014
    Commercial Litigation co-leader and partner Jon Sablone provides commentary about how buyers and sellers can help avoid disuptes with each other or with another group of interested parties post-acquisitions.
  • Partly Cloudy with a Chance of Sanctions
    Internet Law & Strategy | August 1, 2013

    Boston partner and leader of the firm’s Private Fund Disputes team Jon Sablone coauthored this article focused on what lawyers need to keep in mind when dealing with the ethical issues around cloud computing.

Ideas

Cayman Islands Court of Appeal decision clarifies investor rights in liquidation proceedings
Private Fund Disputes Alert | July 25, 2016

Who's accountable? Investors find success using Massachusetts' consumer protection statute against third-party accountant
Private Fund Disputes Alert | July 22, 2016

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Madoff Anwar case, with $235 million in settlement monies, finally comes to a close
Private Fund Disputes Alert | May 10, 2016

Bankruptcy court eviscerates Madoff trustee's $220m clawback suit for failing to show investor's actual knowledge of fraud
Private Fund Disputes Alert | March 17, 2016

Madoff recovery efforts still going strong
Private Fund Disputes Alert | November 18, 2015

Recent SEC settlements offer glimpse into future of private equity regulation
Private Fund Disputes Alert | November 17, 2015

Webinar Recording: DOJ targets executives in corporate investigations
Originally recorded on September 25, 2015 | September 30, 2015

The exception that swallows the rule: Cayman court eviscerates ‎liquidation option for fund investors
Private Fund Disputes Alert | September 30, 2015

SEC whistleblower program focuses on alleged improper muzzling of employees
Commercial Litigation Alert | September 25, 2015

Court approves $11.1 million global settlement in three Madoff avoidable transfers cases
Private Fund Disputes Alert | May 26, 2015

Back in the saddle again: Madoff feeder fund plaintiffs closer to recovery from fund service providers Citco and PricewaterhouseCoopers
Private Fund Disputes Alert | March 17, 2015

Leon appointed to replace Bannister as BVI Commercial Court Judge
Litigation News Update | February 26, 2015

Cayman Court of Appeal reverses decision finding fund directors liable for $111 million
Private Fund Disputes Alert | February 20, 2015

2015 Business and Legal Trends to Watch
December 19, 2014

Second Circuit says certain offshore SIPA claim transfers now subject to approval by U.S. bankruptcy courts
Private Fund Disputes Alert | October 2, 2014

Picard powerless to block independent Madoff feeder fund settlements
Private Fund Disputes Alert | August 12, 2014

New blow to Picard's Madoff miracle
Private Fund Disputes Alert | July 8, 2014

Can an investor "win" in its claim against a private fund manager, yet still "lose?"
Private Fund Disputes Alert | May 6, 2014

Rakoff deals new blow to Madoff trustee
Private Fund Disputes Alert | May 1, 2014

New York court rejects claims against fund manager of a Madoff feeder fund, highlighting exculpatory terms in private fund agreement
Private Fund Disputes Alert | April 11, 2014

New developments in recovery efforts for Madoff investors
Private Fund Disputes Alert | December 19, 2013

Private equity firms may be liable for unfunded pension obligations of portfolio companies
Private Fund Disputes Alert | August 27, 2013

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Events

Private Fund Disputes