James Burke

James Burke protects the rights of financial services companies in civil litigation and bankruptcy proceedings. Leveraging nearly two decades of litigation experience related to the financial services sector, a track record of success at trial and appellate levels, and an educational background in economics, he is equipped for high-value matters involving sophisticated financial arrangements.

• Engagements

  Financial Services Litigation

  • Loan seller and servicer responding to $50 million+ claims under mortgage loan sale and servicing agreement. An Orrick trial team obtained a decision that rejected several of the plaintiff’s claims and sustained the client’s counterclaim. Lynx Whole Loan Acquisition LLC v. Nationstar Mortg., LLC (Del. Ch.). As a second-chair member of the team, James examined a fact witness regarding the plaintiff’s market hedging strategy and both parties’ damages experts.
  • Administrative agent defending against contract and tort claims related to liability management transaction that restructured $1 billion+ of debt. The Orrick team obtained an order dismissing all claims, which was affirmed on appeal. See Ocean Trails CLO VII v. MLN Topco Ltd., 233 A.D.3d 614 (N.Y. App. Div. 1st Dep’t). As an associate, James led briefing on the motion to dismiss.
  • Bank sponsor of residential mortgage-backed securities defending against $3 billion+ claims under securities laws. The Orrick team successfully resolved a civil regulatory action and a direct action through pretrial settlements. Ruotolo v. Credit Suisse Sec. (USA) LLC (N.J. Super. Ch. Div.); Fed. Home Loan Bank of Boston v. Ally Fin., Inc. (Mass. Super. Ct.). As an associate, James played a lead role in briefing and trial preparation.
  • Investor in securities broker’s feeder fund defending against $20 million+ fraudulent transfer claim. With his co-counsel, James secured a mid-discovery settlement that favorably resolved more than 10 years of litigation. SIPC v. Bernard L. Madoff Inv. Sec. LLC (Bankr. S.D.N.Y.).
  • Noteholders responding to Trust Indenture Act claims related to liability management transaction that restructured $1.5 billion+ of debt. A team at his former firm secured the appellate reversal of a trial court decision preventing the restructuring. See Marblegate Asset Mgmt., LLC v. Educ. Mgmt. Corp., 846 F.3d 1 (2d Cir. 2017). As an associate, James led the appellate briefing.
  • Owner-lessors under structured lease transactions as plaintiffs asserting $100 million+ fraudulent transfer and tort claims. A team at his former firm achieved a favorable global settlement after a 10-day trial. In re GenOn Energy, Inc. (Bankr. S.D. Tex.). James was a lead associate on the trial team.
  • Commodity broker customer seeking declaratory judgment concerning $20 million standby letter of credit. The Orrick team filed an affirmative action against the SIPA liquidation trustee and resolved the action through a favorable settlement. In re MF Global Inc. (Bankr. S.D.N.Y.). As an associate, James led briefing and contributed to case strategy.
  • Swap participants disputing trade settlement amounts. The Orrick team achieved successful settlements for multiple clients. In re Lehman Bros. Holdings Inc. (Bankr. S.D.N.Y.). As an associate, James led mediation briefing.

  Bankruptcy & Distressed Investing Litigation

  • Liability insurers with alleged eight-figure coverage obligations in mass tort bankruptcy cases. At his former firm, James was lead counsel and co-lead counsel for liability insurers in mass tort bankruptcy cases. In one case, James presented oral argument at the confirmation hearing that resulted in favorable plan amendments. In another, James’s pretrial strategy led to mediation and a favorable insurance settlement. In a third, James negotiated a consensual resolution that preserved his client’s rights. In re AIO US, Inc. (Bankr. D. Del.); In re Presperse Corp. (Bankr. D.N.J.); In re Mosaic Cos., LLC (Bankr. D. Del.). 
  • Pharmaceutical development funder defending against an attempt to recharacterize $100 million of debt as equity in bankruptcy case. The Orrick team secured an eve-of-trial settlement that preserved the client’s investment. In re PhaseBio Pharm. Inc. (Bankr. D. Del.). As an associate, James deposed the debtor’s CFO and led pretrial briefing.
  • Noteholders claiming $300 million+ of make-whole premium and interest. A team at his former firm obtained a decision upholding the clients’ claims, which was affirmed after multiple appeals. In re Ultra Petroleum Corp. (Bankr. S.D. Tex.). James was the lead associate for the initial bankruptcy court proceedings and for the first round of briefing on direct appeal to the circuit court.
  • Chapter 11 debtors with $4 billion+ of liabilities defending bankruptcy plan confirmation order in appeal by objecting equity holder. A team at his former firm secured an affirmance of the bankruptcy court’s confirmation order by both the district and circuit courts. See Ahuja v. LightSquared Inc., 644 F. App’x 24 (2d Cir. 2016). As an associate, James led the appellate briefing.
  • Collateral agent in appeal from favorable bankruptcy court order allocating proceeds of asset sale to secured lenders. The Orrick team achieved the affirmance, without oral argument, of the bankruptcy court’s summary judgment order. See Wilmington Trust, Nat’l Ass'n v. BOH Park Highlands NV, L.P., 636 F. App’x 723 (9th Cir. 2016). As an associate, James led the appellate briefing.