RBF Law case involving Lehman Brothers Holdings Inc. was featured in several national online publications on March 8th, 2018, the day U.S. Bankruptcy Judge Shelley Chapman ruled after “a 22-day trial to resolve the long-running dispute over Lehman’s” residential mortgage-backed securities.
The Colorado Women’s Chamber of Commerce honored RBF Law partner Maritza Dominguez Braswell as one of 2018’s Top 25 Most Powerful Women. Maritza celebrated the evening alongside friends, family, and colleagues, including Mekela Goehring, Executive Director of the Rocky Mountain Immigrant Advocacy Center, and Dean Bruce Smith, of University of Denver Sturm College of Law. To learn more about the event and other honorees, click here.
RBF Law Case Discussed in Law360 Article “MBS Trustees Under Scrutiny At Close of Lehman Ch. 11 Trial”Feb. 9, 2018
Counsel for a group of residential mortgage-backed securities trusts faced skepticism from the bench Friday while delivering closing arguments in a bid to augment the trusts’ allowed Chapter 11 claim against Lehman Bros. Holdings Inc. for selling them misrepresented loans, saying their $11.4 billion damage calculations have been substantially supported.
U.S. Bankruptcy Judge Shelley C. Chapman had a lot of questions to ask during the last day of a multi-week trial process to evaluate claims against Lehman for allegedly selling billions of dollars’ worth of toxic home loans before its 2008 collapse — so much so that she apologized for frequently interrupting Holwell Shuster & Goldberg LLP attorney Michael Shuster during his closing arguments.
Read the full article here.
RBF Law Case Discussed in Law360 Article “Lehman Puts Finishing Touch on MBS Claims Estimation Trial”Feb. 8, 2018
Attorneys for Lehman Brothers Holdings Inc. held firm in closing arguments Thursday that trustees accusing the defunct investment bank of selling toxic mortgage-backed securities have failed to show damages claims in excess of the $2.4 billion Lehman will accept.
A New York bankruptcy court-assisted process to evaluate claims against Lehman for allegedly selling billions of dollars’ worth of misrepresented home equity loans before its 2008 collapse is coming to a close this week, after 23 days of trial. Over that time, the plan administrator for the former financial behemoth has argued that the trusts holding the residential mortgage-backed securities should be entitled to a maximum claim against the estate for $2.38 billion, while the trustees have contended that there is strong evidence Lehman repeatedly breached its contracts on tens of thousands of loans, entitling them to a claim of approximately $11.4 billion.
Read the full article here.
RBF Law Case Discussed in Reorg Research Article “LBHI’s Closing Argument in RMBS Estimation Proceedings Calls $2.38B Estimation ‘Fair and Appropriate,’ Says Trustees Conducted ‘Flawed’ Review Process”Feb. 8, 2018
Counsel for plan administrator Lehman Brothers Holdings Inc., or LBHI, presented closing argument in the RMBS estimation proceeding today before Judge Shelley Chapman. In line with the post-trial briefing submitted by LBHI, the plan administrator’s attorneys argued that the RMBS trustees’ claims arising out of more than 70,000 RMBS loans should be estimated at $2.38 billion, in contrast to the $11.4 billion figure put forward by the trustees. Closing arguments for LBHI were presented by Todd Cosenza of Willkie Farr & Gallagher and Michael Rollin of Rollin Braswell Fisher.
The court is scheduled to hear closing argument from counsel for the RMBS trustees tomorrow, Friday, Feb. 9, at 9 a.m. ET.
Cosenza, speaking for LBHI, thanked the court for its time and attention to the RMBS estimation proceeding. He noted that the trial had been timed to conclude ahead of a March 2018 distribution by the plan administrator. Cosenza called LBHI’s $2.38 billion proposed estimate a “fair and appropriate amount.” He noted that the $2.38 billion figure grew out of the plan administrator’s previous agreement with 14 of the largest institutional investors, which was subsequently rejected by the RMBS trustees. Cosenza also argued that the first two steps of the estimation protocol suggested that the preliminary value of the RMBS trustees’ claims were in the $278 million to $301 million range. He emphasized, however, that LBHI is not seeking to estimate the claims at that lower range in light of the fact that the estimation protocol, if completed, would have involved further steps as well as compromises between the parties. Moreover, “our approach is what’s fair,” he said. (more…)
5280 Magazine chose RBF Law partner Marsha Piccone to appear in its list of Denver’s Top Lawyers of 2018. 5280 “invited lawyers in the seven-county metro area to vote for the contemporaries they respect most in 50 legal specialties.” Marsha earned the well-deserved title of Top Appellate Lawyer because of her extensive experience handling cases at the state and federal levels and her time as a Colorado Court of Appeals Judge. Read more about Denver’s Top Lawyers 2018.
RBF Law Managing Partner Maritza Dominguez Braswell Named Top Latino Lawyer in the Country by Latino Leaders MagazineDec. 27, 2017
The national publication Latino Leaders Magazine has selected Maritza Dominguez Braswell as one of the Top Latino Lawyers in the country in 2017. Maritza is one of only Latina managing partners in the U.S. Under her leadership, RBF Law has committed to the advancement of Latinos through its membership to the Hispanic Chamber of Commerce of Metro Denver, contributions to the Hispanic Education Foundation, and close partnership with the Rocky Mountain Immigrant Advocacy Network (RMIAN). Read more about Maritza and the other honorees.
Mike Rollin’s signature legal work— handling mammoth financial industry litigation in the wake of the 2008 financial crisis — arose from a day at the park. Rollin remembers pushing his daughter, a toddler back then, on the swing set. “And next to me was a fellow pushing his son, who was a similar age, on the swing, and we got to talking. He was an in-house lawyer at a Lehman Brothers affiliate in Lone Tree, and we became friends.” That was just before the fi nancial crisis, and Lehman would later retain Rollin in the subsequent wave of litigation Lehman faces to this day. Rollin has worked on virtually all of the company’s mortgage-backed securities matters over the past 11 years. Out of his two-year-old boutique in Greenwood Village, Rollin Braswell Fisher, Rollin deals in mortgage backed securities, financial services and capital markets litigation. RBF Law serves a range of clients in Colorado and elsewhere, though Rollin’s work has primarily been in New York. Read the full article.
The Colorado Women’s Chamber of Commerce announced the 2018 Top 25 Most Powerful Women in Colorado, including RBF Law Managing Partner Maritza Dominguez Braswell. Honorees were chosen based on “their passion and promotion of women in business, community engagement, proven leadership, and track record for success and perseverance.”
Now in its sixth year recognizing 150 women, the annual Top 25 most Powerful Women’s Gala will be hosted at Grand Hyatt Denver, on Thursday, February 8th, from 5:30pm – 8:30pm. Read more about this prestigious award and see the full list of honorees.
Bankruptcy court scrutiny of Lehman Brothers’ sale of residential mortgage-backed securities in the years preceding the 2008 financial crisis got underway Monday as counsel for several RMBS trusts argued that the shuttered investment bank is responsible for $11.4 billion in damages for securitizing misrepresented loans.
Opening arguments were laid out to begin a court-assisted process to evaluate claims against Lehman Brothers Holdings Inc. for allegedly selling billions of dollars’ worth of dud mortgage-backed securities before its collapse. Read the full article here.
A court-assisted process to evaluate claims against Lehman Brothers for allegedly selling billions of dollars’ worth of dud mortgage-backed securities before its collapse may not begin next week as expected after the judge presiding over the case said Monday she couldn’t square away efforts to remove claims without reducing damage amounts.
A multiparty agreement between Lehman Brothers Holdings Inc. and investors looking to collect from the defunct investment firm’s Chapter 11 estate for the repurchase of MBS that lost value in the financial crisis, which was hailed as “impressively robust” by U.S. Bankruptcy Judge Shelley C. Chapman just months ago, may be in peril. Read full article here.
Residential mortgage-backed securities trustees and Lehman Brothers Holdings Inc. squared off in New York bankruptcy court Thursday on the value of claims submitted in the wake of the financial crisis, with the trustees arguing that their “straightforward breach of contract claims” are worth $11.4 billion, while the shuttered bank argued they’re worth $2.38 billion or less.
In a 57-page pretrial brief, the bankruptcy plan administrator for the defunct investment firm argued that since the 2008 financial crisis, it’s made substantial efforts to whittle down the hundreds of thousands of claims filed by the trustee, which originally sought $37 billion in damages. Read full article here.
Maritza Dominguez Braswell Joins DBJ Table of Experts on Breaking the Glass Ceiling: A Discussion with Colorado LeadersOct. 18, 2017
There is a change occurring in Denver and it’s not just the local construction. As companies evolve, the mythical “glass ceiling” for women is crashing in many places.
Sure, the “Old Boys’ Clubs” are still around. Men still dominate the majority of executive roles. “Breaking the Glass Ceiling,” a Denver Business Journal Table of Experts panel discussion, offered insights and experiences of women who have ascended to leadership roles in their respective local businesses.
Many of the panelists learned how to balance relationships, families and friends. They know the struggles and joys while being the person in charge at their work roles. They’ve also endured the snide and sexist remarks, learned how and when to deal with career issues and setbacks – yet they have discovered ways to persevere through difficult times and march toward better futures.
The panel included Suzanne Johnson, president of First Western Trust’s Denver office; Maritza Dominguez Braswell, Managing Partner of Rollin Braswell Fisher LLC; Tasha Jones, Director of Marketing for Forest City; and Keo Frazier, Vice President of Marketing for McWhinney.
Denver Business Journal Publisher Pete Casillas conducted the question-and-answer session. Read the full article.
Learn more about Maritza Dominguez Braswell.
The Federal Deposit Insurance Corp. asked a New York bankruptcy court Thursday to hit the snooze button on a suit filed by Lehman Brothers against Guaranty Bank over the sale of shoddy mortgages, saying Lehman must go through an administrative claims process first.
The FDIC is receiver for Texas-based Guaranty, which blamed its 2009 collapse on massive losses in its securities portfolio. Bankrupt Lehman Brothers Holding Inc. is suing Guaranty and 22 other mortgage originators in adversary proceedings for allegedly selling it bad loans that blew up in its face, years after it resold them to government-sponsored mortgage giants Fannie Mae and Freddie Mac. Read full article here.
On Monday, September 11th, an immigration judge granted asylum to a young woman RBF Law has been representing pro bono for several months. The client was first referred to the firm through the Rocky Mountain Immigrant Advocacy Network (RMIAN) after she fled her home country to avoid persecution based on her religion. The judge stated on Monday that RBF Law presented “overwhelming” evidence in support of the client’s asylum application. In addition to the ruling, the judge complimented RBF Law for their excellent work presenting the case and for their commitment to pro bono service. RBF Law Pro Bono and Community Engagement Attorney Corey Longhurst and Attorney Kasey Johnson tried the case.
This immigration proceeding is one of many pro bono matters the firm has been involved in since the launch of its social justice platform in March 2017, which kicked off with an educational presentation on immigration law by RMIAN. In addition to advocating for immigrant populations, RBF Law has continued its commitment to the community by donating resources and funds to local organizations, non-profits, and schools.
Marsha Piccone will serve as a panelist to discuss “Drafting Clauses for Alternative Dispute Resolution, Out-of-Court Procedures, and More” on September 14th, 2017 at the Business Law Institute, sponsored by the Colorado Bar Association. Fellow panelists will include W. Terry Ruckriegle, Senior Judge and Special Master Mediator, and Lance K. Tanaka, Vice President of the American Arbitration Association. See the full agenda or register for the event.
Learn more about Marsha Piccone.
Rollin Braswell Fisher LLC (RBF Law) announced that Michael A. Rollin was the only Colorado lawyer named to the inaugural Elite Boutique Trailblazers list published by The National Law Journal. This prestigious list celebrates the accomplishments of some of the top attorneys across the country. Rollin was selected for this award based on his passion, perseverance, and the successful outcomes he has secured in his complex commercial litigation practice.
Rollin is a founding partner of RBF Law, a commercial litigation and appellate law firm with a national practice based in Greenwood Village, Colorado. Regarding his success, Rollin said, “When setting out to create RBF Law, it was important for us to have a litigation practice that would rival traditional big law firms and I think we’ve done that. It’s an honor to be recognized for that accomplishment and to be able to build out our practice even further.” Read the full press release here.
Learn more about Michael Rollin.
RBF Law Managing Partner Maritza Dominguez Braswell Named Finalist for DBJ’s Outstanding Women in Business AwardAug. 15, 2017
Maritza Braswell’s father moved to the United States from Mexico, started in a janitorial position and chased the proverbial American Dream until he eventually bought the company that gave him his first chance. Braswell embodies that same spirit of hard work in her own life. She’s the managing partner for Rollin Braswell Fischer LLC (RBF Law), a role that Braswell said very few female minority lawyers hold in the United States. She started RBF Law and has since been responsible for building and overseeing the entire setup of the firm, including all the internal pieces from the executive administration to human resources and marketing. Read the full article here.
Several mortgage originators that Lehman accuses of selling the faulty mortgages that led the failed investment bank to pay more than $1.2 billion in settlements argued Friday that Lehman’s claims are state law complaints that do not belong in New York bankruptcy court.
The group of 23 originators said that the claims they sold Lehman Brothers Holdings Inc. bad mortgages and forced it into the settlement have no connection to the firm’s Chapter 11 plan and that the bankruptcy court has no jurisdiction. Read the full article here.