It has been said "It's always darkest before the dawn." The first
half of that saying I imagine is somewhat how it must have felt when the
firm's clients, a real estate management firm, its principal
shareholder and its principal shareholder's son were served with a fifty
page complaint seeking twenty million dollars in damages. The dawn
arrived, however, when after two and a half years of litigation, mutual
releases were exchanged between the parties without any cash
contribution on the part of the firm's clients.
Each litigation has its own life. The strategies employed of
course depend on the facts of the given litigation. In this case, the
strategy employed was simple but effective. The first order of business
was to protect the individual defendants against a potentially
successful judgment. This required a thoughtful analysis taking into
account that any potential transfer of assets after the lawsuit had
started could be deemed a fraudulent transfer and subsequently voided.
We next utilized all of New York State's discovery rules to send a very
strong message to the plaintiff that it was not going to be an easy
litigation and that even if successful, collection was not guaranteed.
For all your legal needs, please keep us in mind.
Sincerely,
Mario Biaggi Jr.