Bankruptcy, Restructuring and Litigation Support
Westwood’s Bankruptcy, Restructuring and Litigation Support Division team has advised on cases involving a broad range of securities including corporate debt, mortgage-backed securities, asset-backed securities, asset sales agreements, CDOs, and credit default swaps.
We pride ourselves on our hard-earned reputation for representing (either directly or through their counsel) financial institutions, investors, major government agencies, creditors, and debtors with respect to (a) material misrepresentations; (b) adequacy of disclosure; (c) accessing various forms of credit or other enhancement to which they are rightfully due; (d) fraud; (e) adequacy of due diligence procedures (including issues involving Section 11 of the Securities Act of 1933); (f) the appropriateness of reliance upon experts; (g) secondary market practices; (h) business practices; and (i) reasonable standards of care.
The firm’s principals and employees hail from some of the most prominent investment banks on Wall Street. Many of us helped create certain product markets and were directly responsible for the financing and securitization of various classes of consumer and commercial loans.
Westwood has not acted as a principal in connection with, or as a lender to, many of the parties in major cases involving structured debt and subprime loans. Consequently, the firm is one of the few investment banks that couples world-class, real-world experience with the independence necessary to serve as a credible financial advisor and/or industry expert. For example, Westwood recently (during the last twelve months) has served as advisor on behalf of an investment bank, a major US government agency, a state pension fund, an investor group, a certified class of investors, and a hedge fund. These cases involved securities ranging from credit default swaps, CDOs, derivatives, residential mortgages, residential mortgage backed securities, and hybrid securities (securities having characteristics of both debt and equity). During the collapse of the healthcare lending and leasing industry earlier this decade, Westwood served as financial advisor to creditors in two of the largest related bankruptcy proceedings. Westwood principals have provided expert testimony in and out of court.
As the housing and credit crises continue to unfold, Westwood is ideally suited to provide support to litigants and their counsel in actions for recovery of losses resulting from representations, disclosure, risk activities or standards of care. The firm’s proficiency and expertise enable us to isolate and explain to clients in plain English the underlying causes that would generate or mitigate the most productive claims. Westwood’s creativity and deep understanding of mortgage and related industry practices open windows to the substance of the opposing sides’ behavior, looking well beyond the purported forms of transactions employed.
Our principals have published extensively on the ongoing financial crisis and are frequently cited as experts by major news publications and wire services. We have been a frequent guest on business-news television and radio programs, including CNBC, CNBC Asia, BBC, Fox Business, Bloomberg, and Business News Network.
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