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In this feature, Law360 highlighted our success last year for financial institutions in litigation and beyond, including major courtroom wins for Credit Suisse, Ocwen and Goldman Sachs. The publication named Orrick a 2022 Practice Group of the Year in Banking.
Orrick “attorneys helped steer some of 2022’s biggest moments in banking,” the feature noted.
Partners Rich Jacobsen and Danny Rubens, and associate Jennifer Keighley, discussed the litigation wins and the stakes involved. The Credit Suisse case, which involved a precedent-setting New York appeals court decision with major ramifications for other RMBS litigation, also earned our team American Lawyer Litigator of the Week honors.
That issue had been litigated dozens and dozens and dozens of times at the trial and appellate level in New York state, and every single one of those decisions, for over a decade, went against the banks," Rich, head of our financial services litigation practice, told Law360. He added that by reversing those outcomes, the appellate decision not only saved Credit Suisse hundreds of millions of dollars but also cut the financial industry’s potential exposure by "billions and billions of dollars."
The feature also cited our team, led by of counsel Thomas Laryea, for guiding an unprecedented debt restructuring involving the nation of Belize, widely considered one of the largest ever also targeted to aid the environment.