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.
RBF Law Partner Marsha Piccone Featured in Law Week Colorado “Managing Partner Round Table: Pro Bono Pros”Jul. 13, 2017
Law Week gathered a group of attorneys specializing in pro bono work for its second quarter roundtable. Participants included Denver Bar Association Metro Volunteer Lawyers director Toni-Anne Dasent, Hogan Lovells partner Clay James, Rollin Braswell Fisher partner Marsha Piccone, Association of Corporate Counsel pro bono and community outreach committee chair Carolyn Powell and Davis Graham & Stubbs partner Peter Schwartz. Read the full article here.
Learn more about Marsha Piccone.
A compromise years in the making to resolve claims against Lehman Brothers for selling billions of dollars’ worth of dud mortgage-backed securities before its collapse by using a court-assisted estimation process was approved by a New York bankruptcy judge Thursday, who hailed the deal as “impressively robust.”
The multiparty deal approved by U.S. Bankruptcy Judge Shelley C. Chapman stipulates that Lehman Brothers Holdings Inc. will waive its right to challenge the court’s ultimate determination of what the defunct firm owes investors for the repurchase of MBS that lost value in the financial crisis.
Read the full article here.
Lehman Brothers Holdings Inc. urged a New York bankruptcy court on Friday to approve a grand bargain to end claims over billions of dollars’ worth of dud financial-crisis-era mortgage-backed securities that it sold to investors who were left holding them after the bank’s failure.
If a judge approves the motion at a hearing on Thursday, it will yield a multiweek estimation proceeding in coming months that will resolve billions of dollars’ worth of claims for repurchase of MBS that lost value in the financial crisis.
Read the full article here.
A year and a half after opening its doors, RBF Law is growing. RBF opened in October 2015 with a group of attorneys who shared a Denver litigation firm pedigree of having all worked at both Reilly Pozner and Jones & Keller. Since the beginning of the year, the litigation-focused firm has added five attorneys to its list of partners and associates — though two came as promotions from full-time staff attorney positions. Anchoring the list of additions is former Colorado Court of Appeals Judge Marsha Piccone, who joined in May and bolsters the firm’s appellate practice.
“The first year … it felt like we were in a row boat and we were in some pretty big waves and got just over the top of the wave. But then a couple times, we looked around like, whoah if the wave gets any bigger, this is going to be a tough one to get over,” partner Caleb Durling, said “We got through that first year and felt like we made it, we’re doing ok, the bills are all paid, the lights are on, and in order to do what we think we need to do now and in the future we just need a little bit more bandwidth.” Read the full article here.
Learn more about Marsha Piccone.
Institutional investors holding a large slice of hundreds of millions of Lehman Brothers-related residential mortgage-back securities trusts put a New York bankruptcy court on notice Tuesday that they’re dubious of a deal announced days ago that would set a $2.4 billion floor for the trusts’ resolution, pointing to numerous provisions that would bar future legal claims.
Read the full article here.
RBF Law Expands its Appellate Services and Forms an ADR Practice with the Addition of Former Colorado Court of Appeals Judge Marsha M. PicconeJun. 7, 2017
Rollin Braswell Fisher LLC (RBF Law) announced that Marsha M. Piccone joined the firm as a partner. A former Colorado Court of Appeals Judge, Piccone brings her extensive expertise in appellate law, arbitration, complex commercial litigation, and products liability defense litigation to the firm. Piccone will head RBF Law’s appellate law practice and alternative dispute resolution (ADR) practice. “We are delighted to build on our existing complex commercial and financial services practice with Marsha’s experience as an appellate judge, litigator, and neutral. She’s a perfect fit, and the impact is already felt,” said founding partner Michael A. Rollin.
Read the full press release here.
Learn more about Marsha Piccone.
RBF Law Case Discussed in Law360 Article “Lehman Deal Looks To End MBS Claims For Minimum $2.4B”Jun. 3, 2017
Trustees overseeing hundreds of mortgage-backed securities trusts that left a $6 billion unpaid bill when Lehman Brothers imploded agreed Thursday to settle all their repurchase claims for north of $2 billion and potentially much more.
The trustees had been the lone holdouts to the tripartite settlement in New York bankruptcy court, in which Lehman Brothers Holdings Inc. will agree to ask for a $2.4 billion claim amount, setting what the trustees view as a functional floor. Lehman had said yes in March, joined by a group of 14 institutional investors, including Goldman Sachs Asset Management LP, BlackRock Financial Management Inc. and Pacific Investment Management Co. LLC, the ones left holding the $6 billion bag.
Click here to read the full article.
Marsha M. Piccone, Partner
As a trial lawyer and former Colorado Court of Appeals Judge, Marsha is bringing a wealth of experience to RBF Law. Her practice areas include appellate law, complex commercial litigation, alternative dispute resolution, and products liability litigation. Marsha serves as the appointed Chair of the Colorado Supreme Court’s Committee on Civil Jury Instruction and dedicates her time to presenting and writing on a variety of topics. She is a leader in the legal community and has been recognized by The Denver Post’s Top Lawyers of Denver, Best Lawyers of America, and Colorado Super Lawyers. Learn more about Marsha.
Kasey K. Johnson, Associate
Kasey focuses her practice on complex civil and commercial litigation, product liability, personal injury, insurance defense, and financial services. She has significant litigation experience, successfully arguing motions in state and federal courts across the country. Learn more about Kasey.
Edgar Barraza, Associate
Edgar focuses his practice on complex civil and commercial litigation, product liability, and financial services. As the first ‘DREAMer’ admitted to the Colorado Bar, he volunteers his time to help youth from underrepresented backgrounds gain access to law school. Learn more about Edgar.
Corey J. Longhurst, Associate
In addition to his existing commercial litigation practice, Corey coordinates the firm’s pro bono efforts. In his new role, Corey furthers the firm’s commitment to social justice and develops partnerships with community organizations.
Learn more about Corey.
Michael Tanner, Associate
Michael has been with the firm for a year and a half and has recently been promoted to associate. His diverse legal background ranges from bankruptcy and contract disputes to environmental litigation and regulatory compliance. Learn more about Michael.
RBF Law’s Edgar Barraza recently interviewed by Channel 7 as the first “DREAMer” admitted to practice law in ColoradoMay. 4, 2017
Edgar Barraza, the first “DREAMer” to be admitted as a lawyer to the Colorado State Bar, has joined Rollin Braswell Fisher LLC (RBF Law). Barraza is a unique hire for the Colorado based litigation firm as he is one of a small handful of attorneys in the United States to overcome the struggle of an undocumented immigration status and become a practicing attorney.
RBF Law partner Michael Rollin comments, “Edgar is extremely bright and a great addition to our commercial litigation and appellate practice. His life story is inspiring and he reminds us of the struggles and successes of our own dauntless immigrant families.” Read the full press release.
Learn more about Edgar Barraza.