ARTICLES & PUBLICATIONS | EVENTS & PROGRAMS
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ARTICLES & PUBLICATIONS | EVENTS & PROGRAMS |
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May 2, 2008 FENSTERSTOCK'S CLIENT SUCCESSFULLY OPPOSES MOTION TO DISMISS SUIT OVER EMPLOYMENT BENEFITS AND SUIT TO ENFORCE CONTRACTUAL OBLIGATIONS. Today, Judge Paul Crotty of the United States District Court of the Southern District of New York denied Swett & Crawford's motion to dismiss the lawsuit commenced by Thomas Comer, Swett's President and Chief Executive Officer, for approximately $14 million in payments owing under an employment agreement.
Apr 29, 2008 FENSTERSTOCK'S STEERING COMMITTEE IN WORLD TRADE CENTER BOMBING CASES WINS AFFIRMANCE FROM APPELLATE COURT. Today, the Appellate Division, in a world precedent setting decision, affirmed the jury verdict and the lower court's denial of post-trial motions aimed at setting aside the jury verdict against the Port Authority of New York and New Jersey for the 1993 bombing of the World Trade Center.
Feb 20, 2008 FENSTERSTOCK CLIENT SUCCESSFULLY OPPOSES MOTION TO DISMISS TAX CASE by KPMG. Today, Justice Bernard Fried of the Supreme Court of the State of New York denied KPMG's motion to dismiss Sean Tayebi's complaint against KPMB in BLIPS tax shelter case.
Feb 15, 2008 FENSTERSTOCK RACE CAR CLIENT JUSTIN WILSON SUCCESSFULLY HAS DISMISSED case invoking non-competition clause, commenced in the United States District Court of the Northern District of California.
Sep 25, 2007 FENSTERSTOCK CLIENT SUCCESSFULLY OPPOSES MOTION TO DISMISS IN BLIPS TAX CASE. Today, the Appellate Division upheld the Supreme Court's denial of a motion to dismiss this tax shelter case brought by John Shalam against HVB Bank, upholding the complaint alleging conspiracy to defraud.
Jun 29, 2007 FENSTERSTOCK CLIENT KINLOCH HOLDINGS successfully prevents injunction sought by HRH for soliciting clients and employees. Justice Moskowitz of the Supreme Court, New York County, today, after a full hearing on the merits, denied HRH an injunction attempting to prevent Kinloch Holdings from soliciting clients and employees of HRH.
Jun 14, 2007 APPELLATE COURT AFFIRMS FENSTERSTOCK CLIENT WIN ON CONSPIRACY ISSUES. Today, the Appellate Division of the State of New York affirmed Justice Fried's decision holding HVB Bank potentially liable for their conspiratorial conduct in connection with the promotion of a tax shelter to Fensterstock's client.
Apr 27, 2007 FENSTERSTOCK CLIENT WINS INJUNCTION PROCEEDING. Today, Justice Kenneth Rudolph denied Plaintiff USI Holdings an injunction against Fensterstock clients Genatt Associates and Kinloch Holdings in this litigation claiming breach of confidentiality agreements, non-competition agreements, and non-solicitation agreements.
Feb 28, 2007 NEW YORK JUDGE DENIES POST TRIAL MOTIONS ON 1993 WORLD TRADE CENTER BOMBING. New York Justice Nicholas Figueroa denied all of defendant Port Authority's post trial motions relating to the 1993 World Trade Center Bombing Cases, leaving in tact the jury verdict finding the Port Authority liable for the 1993 World Trade Center bombings.
Sep 11, 2006 FENSTERSTOCK CLIENT VICTORIOUS ON MOTION TO DISMISS TAX LITIGATION. New York State Justice Bernard Fried today upheld Fensterstock's client's claims against Byerische-Hypo-Und Vereinsbank AG, in this tax shelter litigation, based on HVB's complicity, in a conspiracy to defraud taxpayers, in a Bond Linked Issue Premium Structure tax transaction, with KPMG and others.
May 22, 2006 FEDERAL JUDGE AWARDS FENSTERSTOCK CLIENT SANCTIONS. Federal Judge Harold Baer awarded Phoenix Four, an investment company, sanctions against its former investment advisors and their lawyers for their electronic discovery abuses.
Mar 28, 2006 RETIRED ANDERSON PARTNERS obtain ruling confirming their right to proceed as a class under the Arthur Anderson Partnership Agreement.
Feb 21, 2006 FEDERAL JUDGE SUSTAINS FENSTERSTOCK CLIENT'S CLAIMS FOR BREACH OF FIDUCIARY DUTY, NEGLIGENCE, FRAUD, AND NEGLIGENT MISREPRESENTATION. On February 21, 2006, Federal Judge Harold Baer denied the Investment Advisor's motion to dismiss this case brought on behalf of Fensterstock's client, Phoenix Four, a Bahamian mutual fund company, traded on the Luxembourg stock exchange, against its former Investment Advisors in a lawsuit seeking in excess of $75 million.
Oct 30, 2005 MONEY MAY NOT COME SOON IN '95 WTC SUIT. Victims of the 1993 World Trade Center bombing have finally won a court victory in their long-running civil lawsuit against the Port Authority. But it could still be a long time before they get a dime from the agency.
Oct 28, 2005 PORT AUTHORITY'S LAWYER SEES 'SIGNIFICANT ERROR' IN WTC TRIAL. The legal battle will continue. The plaintiffs' liaison counsel Blair Fensterstock of Fensterstock & Partners said he expects the Port Authority to appeal. "I really do believe that at this point it's reprehensible of a public agency to continue drawing this out and spending money litigating it when they've been found liable."
Oct 27, 2005 PORT AUTHORITY FOUND NEGLIGENT IN 1993 BOMBING. Garage at Trade Center Was Too Vulnerable, a Jury Decides. The Port Authority plans to appeal.
Oct 26, 2005 PORT AUTHORITY FOUND LIABLE FOR 1993 WORLD TRADE CENTER BOMBING
Jul 4, 2005 SIDLEY ON THE BACK FOOT AS JUDGE OKAYS CIVIL LAWSUIT A civil lawsuit against US law firm Sidley Austin Brown & Wood concerning the firm's alleged involvement in tax sheltering arrangements is to proceed after a judge declined to dismiss the claim. US Federal District Court Judge Shira Sheindlin said the case of Seippel v. Sidley Austin Brown & Wood could proceed because the complainant had sufficiently alleged fraud. The case centres on the involvement of Sidley, along with co-defendants Deutsche Bank and former Sidley lawyer RJ Ruble, in the currency options bring reward alternatives (Cobra) tax strategy, which has since been declared improper by the Internal Revenue Service (IRS). Telecommunicatoins executive William Seippel alleges that the defendants sold him the Cobra tax strategy in 2003 knowing the IRS would reject it. A later IRS investigation resulted in Seippel and his wife paying more than $5m ... in taxes, penalties and fees. Partners Blair Fensterstock and Maureen McGuirl from Wall Street commercial litigation specialists Fensterstock & Partners are representing the Seippels. Sidley On The Back Foot As Judge Okays Civil Lawsuit, THE LAWYER, International News, July 4, 2005.
Jun 27, 2005 SIDLEY AUSTIN TAX SHELTER SUIT PROCEEDS. COUPLE'S COMPLAINT ALLEGES FRAUD. A Federal judge has declined to dismiss a civil suit brought by a husband and wife who claim that Sidley Austin Brown & Wood and Deutsche Bank Securities Inc. offered a tax shelter that the firms knew would be challenged by the Internal Revenue Service (IRS). Judge Shira Sheindlin of New York's southern district said William and Sharon Seippel's complaint sufficiently alleged fraud and that the couple's allegations against the defendants could stand because they went furhter than alleging aiding and abetting liability. The tax shelters at issue involved digital options or swaps in foreign currency, known as COBRA. Sheindlin quickly disposed of the defendants' first objection in the motions to dismiss, finding that the Seippels had alleged fraud with sufficient particularity under the Private Securities Litigation Reform Act of 1995. The judge then ruled that the claims regarding the COBRA transaction were not time barred, finding that the defendants did not "point to any press reports, complaints or other public documents" referring to an IRS notice on the propriety of COBRA, "or explicitly calling COBRA's lawfulness into question, or to anything that might have caused ordinary taxpayers to suspect that it was not safe to rely on the advice of their tax lawyers." Mark Hamblett, Sidley Austin Tax Shelter Suit Proceeds, NAT'L. L.J., June 27, 2005.
Jun 16, 2005 CLASSWIDE ARBITRATION FILED FOR RETIRED ANDERSEN PARTNERS.
Jun 14, 2005 FENSTERSTOCK FIRM WINS MAJOR DECISION IN TAX COURT CASE AGAINST DEUTSCHE BANK AND SIDLEY AUSTIN BROWN & WOOD. Judge Scheindlin denies defendants' motion to dismiss securities fraud claim rejecting defendants' arguments under the PSLRA, rejecting defendants' arguments as to statute of limitations, and rejecting defendants' arguments that the securities fraud claim is an improper claim of aiding and abetting. See article by Mark Hamblett, Sidley Austin Tax Shelter Suit Proceeds, NAT'L. L.J., June 27, 2005.
Jun 1, 2005 DECISION REKINDLES DEBATE OVER ANDERSEN INDICTMENT ...[T]he firm's collapse caused a lot of pain for its employees, most of whom had nothing to do with any of those audits. Retired Andersen partners also stand to gain little from the Supreme Court decision yesterday, said Blair Fensterstock, a lawyer representing 130 retired partners who did not receive their portion of $190 million in retirement benefits. Jonathan D. Glater and Alexei Barrioneuvo, Decision Rekindles Debate Over Andersen Indictment, THE NEW YORK TIMES, June 1, 2005.
May 19, 2005 FENSTERSTOCK COMMENCES $150 MILLION LAWSUIT ON BEHALF OF BAHAMIAN MUTUAL FUND COMPANY against its investment adviser for violations of the Investment Company Act, Investment Advisers Act, breach of fiduciary duty, fraud, negligent misrepresentation, breach of contract, and negligence.
May 16, 2005 FENSTERSTOCK COMMENCES PRO BONO LAWSUIT ON BEHALF OF POLISH IMMIGRANTS for malpractice, fraud, and breach of fiduciary duty against their attorneys arising from purchase of cooperative apartment.
May 13, 2005 FENSTERSTOCK COMMENCES FRADULENT CONVEYANCE SUIT IN ILLINOIS FEDERAL COURT claiming transfers in violation of the Illinois Frauduclent Transfer Act by promoters of illegal tax strategies.
Apr 7, 2005 KPMG, SIDLEY AUSTIN BROWN & WOOD, PRESIDIO, BAYERISCHE HYPO-UND VEREINSBANK SUED FOR $500 MILLION KPMG, Sidley Austin Brown & Wood, Presidio, Bayerische Hypo-Und Vereinsbank are sued by Fensterstock client for $500 million for their promotion, marketing, selling and advice concerning BLIPS, an abusive and illegal Tax Shelter.
Mar 24, 2005 NEW YORK COURT DISMISSES COMPLAINT AGAINST LIBERTY INSURANCE New York Court dismisses the complaint against Fensterstock client, Liberty Insurance, alleging Donnelly Act violations.
Mar 21, 2005 CANTON OF GENEVA RULES IN FAVOR OF APPOINTMENT OF SINGLE ARBITRATOR AGAINST AWSC The Canton of Geneva rules in favor of the Fensterstock firm on the appointment of a single arbitrator in arbitration against AWSC on behalf of the retired partners of Arthur Andersen seeking their retirement benefits. The case promptly proceeds to the ICC.
Mar 15, 2005 CLIENTS OBTAIN SETTLEMENT IN TAX SHELTER CASE Fensterstock clients obtain a settlement in their tax shelter case against the accounting firm who promoted the shelter.
Feb 25, 2005 APPELLATE COURT DENIES PORT AUTHORITY'S APPEAL OF ORDER DENYING SUMMARY JUDGMENT IN 1993 WORLD TRADE CENTER BOMBING The Fensterstock firm is successful in having the Appellate Court deny the Port Authority's appeal of Justice Sklar's order denying summary judgment in the 1993 World Trade Center Bombing cases. The cases will proceed to trial.
Feb 17, 2005 FEDERAL JUDGE LIFTS STAY OF DISCOVERY IN TAX ABUSE CASE
Feb 14, 2005 LEBOEUF, LAMB, GREENE & MACRAE, SIDLEY AUSTIN BROWN & WOOD, CHENERY, GRANT THORNTON, AND GRAFF REPETTI SUED FOR $36 MILLION Leboeuf, Lamb, Greene & MacRae, Sidley Austin Brown & Wood, Chenery, Grant Thornton, and Graff Repetti are sued by Fensterstock client for $36 million for their role in promoting, advising, and marketing NPL, an abusive and illegal tax shelter.
Feb 1, 2005 JENKENS AND SEVERAL LIABILITY The opt-outs will try to recoup legal fees paid to Jenkens, which total some $25 million and other costs of setting up the shelters, which were as high as [sic] $1 million per person, according to Blair Fensterstock of New York, who represents six of them. They will also seek any penalties and interest owed to the Internal Revenue Service, and punitive damages. The opt-outs are ready to be the first. Their thinking is evident in the most recent tax shelter lawsuit, filed by Fensterstock in December. It includes a lengthy breakdown of Jenkens's corporate structure and allegations about the culpability of individual partners. "They all shared in the profits, and they're all liable," he says. Paul Braverman, Jenkens and Several Liability, AM. LAW., Feb, 2005.
Dec 8, 2004 JENKENS & GILCHRIST AND ERNST & YOUNG SUED BY FENSTERSTOCK CLIENT IN VIRGINIA FOR $12 MILLION for their role in promoting, advising, and marketing COBRA, an abusive and illegal tax shelter.
Dec 1, 2004 SHELTER FALLOUT The plaintiffs lawyer is Blair Fensterstock of New York. He's not worried about sinking the firm and leaving his clients without a remedy. "Jenkens's screams of poverty are unavailing," he says. "The insurance company is on the hook for much more than they have proposed." Fensterstock isn't so sure, and the parties will have to overcome bad blood to make a deal. "We've said from the beginning that the settlement is a product of collusion" between Deary and Jenkens, says Fensterstock, describing them as "arrogant and obstructive." Paul Braverman, Shelter Fallout, AM. LAW., Dec. 2004.
Nov 8, 2004 LAWSUIT OVER TAX SHELTERS MAY DERAIL A SETTLEMENT Nonetheless, a group of lawyers, including Blair C. Fensterstock of New York who filed Friday's lawsuit, opposed the settlement as too small. Those lawyers had filed a motion asking Judge Scheindlin to lift the preliminary injunction against further tax-shelter related litigation, which she did on Friday. Lynnley Browning, Lawsuit Over Tax Shelters May Derail a SettlementIMES, Nov. 8, 2004.
Nov 5, 2004 SIDLEY AUSTIN BROWN & WOOD, DEUTSCHE BANK SUED BY FENSTERSTOCK CLIENT IN VIRGINIA FOR $450 MILLION for their role in promoting COBRA, an illegal and abusive tax strategy.
Oct 18, 2004 JENKENS SETTLEMENT INFO REVEALS 'WEALTH' OF SHELTER ADVISERS Long before the summons enforcement proceedings were brought against Jenkens, disgruntled recipients of Jenkens's opinion letters filed suit in a New York federal district court against Ernst & Young, Jenkens & Gilchrist, Sidley Austin Brown & Wood, and others, for their roles in promoting the COBRA strategy. Seeking millions of dollars in compensatory damages and $1 billion in punitive damages, one suit alleged violations of the Racketeer Influences and Corrupt Organization Act statutes as well as various professional duties. Lawyer Blair Fensterstock filed the complaint in December 2002 on behalf of Henry N. Camferdam, Jr. and three others. Now representing six former Jenkens clients who invested in the firm's tax strategies, Blair Fensterstock has been a vocal opponent of the class action. He has seen what information Jenkens has offered and has concluded that the settlement is "not even close to fair and reasonable." Fensterstock's six clients collectively invested more than $210 million in Jenkens's tax shelters. Together, the former clients paid Jenkens $10 million in fees, he said. The key is not the number of potential class members who have opted out, but the size of their shelters, he said, which represents the size of the liability that Jenkens would still face. Some $80 million is at stake in potential tax liabilities, interest, and penalties for only two of Fenstestock's clients, he says. Jenkens is responsible for those damages, as well as any treble or punitive damages above that, in his view. "We alone have potential claims against Jenkens for over $200 million." Jenkens and class counsel claim that the investors have to settle the case, because if they don't, the law firm is going to fold, said Fensterstock. "That is not credible." Fensterstock has filed a motion on behalf of his clients to lift the stay on pursuing their claims against Jenkens and the other named defendants. In August 2004 Judge Scheindlin sustained and dismissed various claims brought by Fensterstock on behalf of Jenkens investors William and Sharon Seippel against the law firm, Daugerdas, Beutsche Bank, and Sidley Austin Brown & Wood. The New York district court dismissed RICO claims against Brown & Wood and the bank, while sustaining the recision of fees claims against those two firms for excessive fees. The court also denied the defendants' motion to strike the investors' request for back taxes, interest, and professional fees. Fensterstock is encouraged by the court's holding. "Now we have a decision from Judge Scheindlin that says what damages are recoverable." The Jenkens investors still have valid causes of action for back taxes, interest, and professional fees, he said. Furthermore, the court upheld the fraud claim against Deutsche Bank, he said. Sheryl Stratton, Jenkens Settlement Info Reveals 'Wealth' of Shelter Advisers, TAX NOTES, Oct. 18, 2004.
Oct 4, 2004 OPT-OUTS THREATEN SETTLEMENT OF JENKENS' TAX ADVICE SUIT "We believe that the proposed settlement is unfair and contains inequitable provisions and it does not provide in the slightest the compensation that taxpayers should be able to recover against Jenkens & Gilchrist," says Blair Fensterstock, who represents six former clients of Jenkens and who have opted out of the proposed settlement. "We believe that the basis on which the settlement was put forward was erroneous," says Fensterstock, a partner in Fensterstock & Partners in New York. Fensterstock says he believes his opt-out clients will ultimately recover damages in excess of the settlement. Two of his clients, William Melton of Virginia and Myer Berlow of New York, had sought advice from Jenkens on sheltering sums totaling in excess of $200 million, Fensterstock says. For his part, Fensterstock says he is not worried about the consequences if the proposed settlement unravels, or even a scenario that involves the break-up of Jenkens, which is under financial pressure because of the litigation. "If Jenkens wants to dissolve that's their choice, but every one of their partners is going to be a target for recovery," says Fensterstock. Miriam Rozen, Opt-Outs Threaten Settlement of Jenkens' Tax Advice Suit, TEX. LAW., Oct. 4, 2004.
Sep 1, 2004 SUIT AGAINST LAW FIRM OVER TAX PLAN PROCEEDS Blair Fensterstock, the lawyer for Mr. Seippel and dozens of other plaintiffs in tax shelter cases, hailed Judge Scheindlin's decision yesterday. "This will have overriding significance in the numerous tax shelter cases that are pending," he said. Anthony Lin, Suit Against Law Firm Over Tax Plan Proceeds, N.Y. L.J., Sept. 1, 2004.
Aug 25, 2004 FEDERAL JUDGE SUSTAINS FRAUD AND RECISSION CLAIMS AGAINST DEFENDANTS IN TAX SHELTER CASE and denies defendants' motion to strike claims for back taxes, interest and professional fees.
Jun 20, 2004 TAX SHELTER CRACKDOWN HITS LW FIRMS. ILLEGAL SCHEMES ATRACT SUITS, IRS. "Law firms were definitely part of the Axis of Evil of the tax shelter industry," says Blair Fensterstock, managing partner of Fensterstock & Partners, who is litigating over a dozen suits against tax shelter promoters. Tommy Fernandez, Tax Shelter Crackdown Hits Law Firms. Illegal Schemes Attract Suits, IRS, CRAIN'S N.Y. BUS., June 14, 2004.
Jun 17, 2004 LAW CLIENTS GIVEN CHOICE: A BIG PAYOUT OR PRIVACY Blair Fensterstock, a New York lawyer who represents some of Jenkens & Gilchrist's tax shelter clients, called it "a clear deviation from the normally approved class-action judicial process." Lynnley Browning, Law Clients Given Choice: A Big Payout or Privacy, N.Y. TIMES, June 17, 2004
May 3, 2004 FILING SAYS BOGUS TAX SHELTERS SOLD TO 1,100 Blair Fensterstock, a lawyer in New York who represents a former technology executive who has sued Jenkens & Gilchrist for giving an opinion in favor of a tax shelter the I.R.S. later disallowed, said yesterday that he would oppose the settlement. Mr. Fensterstock said that the settlement would pay out only a fraction of the amount that each taxpayer owes the government in unpaid taxes plus interest and penalties. He also noted that each tax shelter transaction involved Jenkens & Gilchrist working with a web of accounting and financial firms and banks. Those firms and banks, which are named in suits that are pending, could seek to blame Jenkens & Gilchrist and thus reduce their own liablity to clients. That, he said, would leave less money for the clients. Lynnley Browning, Filing Says Bogus Tax Shelters Sold to 1,100, N.Y. TIMES, May 3, 2004.
Apr 12, 2004 TAX SHELTER LAWSUITS HEATING UP Blair Fensterstock of Fensterstock & Partners in New York is even less enthusiastic. Fensterstock, who is working with Lukens on the myCFO arbitration and has "dozens" of clients of his own, doesn't feel these cases are even amenable to class certification. There are too many individual questions of fact and law, and lawyers are likely to land large fees while clients recoup little. The "$75 million, after attorney fees, won't pay for the fees paid to Jenkens," he said. The transactions brought Jenkens partners "a ton of money," he said. According to Texas Lawyer, Jenkens will only have to kick in $5.25 million while Daugerdas would pay almost $4 million and two of his Chicago partners a total of $2.3 million. The balance would be covered by insurance. Fensterstock doesn't understand why Jenkens partners shouldn't be held individually liable. "This is a hell of a deal for Jenkens," he said. "They've hit the lottery." David Heckler, Tax Shelter Lawsuits Heating Up, NAT'L. L.J., April 12, 2004.
Apr 1, 2004 THE TAX MAN'S TRAVAILS One such suit could come from Blair Fensterstock, a lawyer in New York who has a shelter case pending against Jenkens, has retainer agreements with about ten more shelter clients, and has spoken to dozens more. "I don't know how you could arrive at a fair dollar figure without knowing the size of the class or the amount of fines those people will have to pay," says Fensterstock. Paul Braverman, The Tax Man's Travails, AM. LAW., April 2004.
Feb 25, 2004 FENSTERSTOCK FIRM SUES LLOYDS FOR DEFENDANT'S WILLFUL FAILURE TO PAY DEFENSE COSTS of Reliance executive.
Dec 1, 2003 HELTER SHELTER David Deary of Shore Deary in Dallas and Blair Fensterstock of New York have, between them, spoken with about 7 of these COBRA buyers. Both have suits pending against Daugerdas and Jenkens. The lawyers tell remarkably similar stories when talking about people who bought the shelter. Buyers were required to use Jenkens, the firm that created the shelter. E&Y insisted that each sign a confidentiality agreement not to disclose the marketing materials to anyone except "internal personnel," a group that didn't include independent tax lawyers. For Jenkens, people who wanted to use COBRA were a captive market. They each received a nearly identical opinion letter. Like most shelters, once the COBRA structure was completed and a template opinion letter was written, setting up each additional shelter required little new paperwork. They each paid a fee to Jenkens equal to 3 percent of the promised tax loss. Like Camferdam, the approximately 70 people who have consulted with Deary and Fensterstock say they've never had contact with a Jenkens lawyer. That fact is proving troublesome for the firm. Paul Braverman, Helter Shelter, AM. LAW., April 2004.
Nov 9, 2003 ACCOUNTING FIELD FACES LATEST PROBE Blair Fensterstock, a New York lawyer who formerly represented Camferdam, is involved in about a dozen other suits naming Big Four accounting firms such as E&Y, KPMG LLP and Pricewaterhouse-Coopers LLP. He blames overzealous accountants and lawyers for pushing questionable shelters and said lawmakers should pass legislation giving current penalties more teeth. Scott Olson, Accounting Field Faces Latest Probe, INDIANAPOLIS BUS. J., Nov. 3 - 9, 2003.
Jul 9, 2003 COSTLY QUESTOINS ARISE ON LEGAL OPINIONS FOR TAX SHELTERS Blair C. Fensterstock, a New York lawyer representing four Indiana men who bought an Ernst & Young tax shelter to avoid taxes on $70 million from selling their business, said the promises in an opinion letter were crucial to resolving doubts and closing the deal to set up the shelter. Yet, he said, the letter itself was not delivered until after the shelter was set up. Even if his clients had received the letter ahead of time, Mr. Fensterstock said, they would not have understood all the subtle disclaimers in it. "Even for people who are sophisticated, it doesn't mean they understand anything about the complexities of tax shelters," Mr. Fensterstock said. David Cay Johnston, Costly Questions Arise on Legal Opinions for Tax Shelters, N.Y. TIMES, Feb. 9, 2003.
Apr 27, 2003 RETIRED ANDERSEN EXECUTIVE FILES NEW SUIT Viets' lead counsel, New York City lawyer Blair Fensterstock, added the partners as defendants in the amended complaint beause he said they are equally at fault for the retirees' losses. "They essentially conspired with the other accounting firms to breach their fidiciary duties, to steal the assets of Arthur Andersen and leave the corpse, or the remnants of the corpse, for the retired partners, all of whom had put their hearts and souls into building the company for years," Fensterstock said. Fensterstock has asked the court to place a constructive trust on the client revenue the partners have brought to their new firms to help pay the retirees what he claims they're owed in benefits. A court can impose the trust in complaints alleging unjust enrichment. The request is pending. Scott Olson, Retired Andersen Executive Files New Suit, INDIANAPOLIS BUS. J., April 21 - 27, 2003.
Mar 18, 2003 ARTHUR ANDERSEN RETIREE ADDS DEFENDANTS TO SUIT The amended complaint, filed yesterday, expands the suit to name Andersen's five-member executive team as defendants. It also takes the unusual step of naming a defendant "class" that includes all former Andersen personnel who were partners as of January 2002. Blair Fensterstock, a lawyer representing Mr. Viets, said partners along with management and other firms, "looted" Andersen's assets "and left the corpse for the retired partners." Cassell Bryan-Low, Arthur Andersen Retiree Adds Defendants to Suit, WALL ST. J., Mar. 18, 2003.
Mar 10, 2003 BITTEN BY A COBRA? "It's the epitome of arrogance and greed by both Jenkens & Gilchrist and Ernst & Young, and in total disregard for their fiduciary duties," alleges Blair Fensterstock of Fensterstock & Partners in New York City, the lead lawyer for the palintiffs in Camferdam. Brenda Sapino Jeffreys, Bitten by a COBRA, TEX. LAW., Mar. 10, 2003.
Mar 3, 2003 DO ACCOUNTANTS HAVE A FUTURE? Now accounting firms are in hot water with both the IRS and their former clients. "It's not like they screwed people who can't come after them," says Blair Fensterstock, a lawyer who is suing E&Y for $1 billion on behalf of four executives who bought a shelter idea now being challenged by the IRS. Several suits have been filed against the other firms as well. Jeremy Kahn, Do Acocuntants Have a Future?, FORTUNE, Mar. 3, 2003.
Mar 2, 2003 SWEET-LOOKING TAX SHELTER SOURS ON SUPPORT NET PARTNERS Blair Fensterstock, the New York attorney for the Support Net partners, said E&Y sold the same COBRA scheme to hundreds of other people, generating more than $100 million in fees. He said he is preparing to file additional COBRA-related suits. E&Y had served as Support Net's longtime auditor and as its adviser in the sale to Melville, N.Y.-based Arrow Communications. Fensterstock charges the accounting firm exploited its position as a trusted adviser by enticing his clients, who'd had every intention of paying their taxes. Greg Andrews, Sweet-Looking Tax Sheltelr Sours on Support Net Partners, INDIANAPOLIS BUS. J., Feb. 24 - Mar. 2, 2003.
Feb 26, 2003 1993 VICTIMS RELIVING OWN WTC ANGUISH The lead attorney for the suits, Blair Fensterstock, called that argument "inane," and Mangone pointed to PA documents warning of a possible car-bomb attack as far back as the mid-1980s. Dareh Gregorian & Ed Robinson, 1993 Victims Reliving Own WTC Anguish, N.Y. POST, Feb. 26, 2003.
Feb 20, 2003 AFTER SUCCESSFUL RULING ON $36 MILLION LAWSUIT BY FENSTERSTOCK'S CLIENT, GULF CHEMICAL, AGAINST RAYTHEON, GULF GAINS FAVORABLE SETTLEMENT arising out of defective refurbishment of petrochemical facility in Puerto Rico.
Feb 15, 2003 FENSTERSTOCK FIRM SUES ARTHUR ANDERSEN AND SUCCESSOR FIRMS FOR $190 MILLION on behalf of retired partners denied their retirement benefits.
Feb 12, 2003 FENSTERSTOCK & PARTNERS LLP RETAINED TO REPRESENT ALL RETIRED PARTNERS OF ARTHUR ANDERSON LLP Fensterstock & Partners LLP is retained to represent all of the retired partners of Arthur Anderson LLP in their lawsuit and arbitrations for early retirement and basic retirement benefits.
Feb 10, 2003 BANKS FACE SUITS IN CONTESTED TAX PLANS New York lawyer Blair Fensterstock filed one lawsuit and says he has more than two dozen other clients about to file against Ernst & Young. Fensterstock's separate lawsuit filed last year against Ernst & Young was for a tax shelter designed to shield $70 million in profit from the sale of an Indianapolis computer business. Del Jones, Banks Face Suits in Contested Tax Plans, USA TODAY, Feb. 10, 2003.
Feb 7, 2003 ACCOUNTING FIRMS FACE BACKLASH OVER THE TAX SHELTERS THEY SOLD One reason the tax maneuvers are lucrative for accounting firms is that once devised, they can be marketed to potentially thousands of clients, both corporate and individual. In the case of the Ernst shelter sold to Mr. Camferdam, at least 47 other individuals used the same transaction, generating $50 million in fees, according to his and his colleagues' suit. Their lawyer, Blair Fensterstock, of Fensterstock & Partners LLP, says he has been contacted by a dozen other Ernst clients who say they received similar pitches. Cassell Bryan-Low, Accounting Firms Face Backlash Over the Tax Shelters They Sold, WALL ST. J., Feb. 7, 2003.
Nov 1, 2002 FENSTERSTOCK FIRM OBTAINS FAVORABLE SETTLEMENT ON BEHALF OF INSURANCE BROKERAGE FIRM
Jul 1, 2002 FENSTERSTOCK CLIENT SUCCESSFULLY RESOLVES LAWSUIT AGAINST TEXACO Fensterstock & Partners LLP announced today the successful confidential settlement of a three year old defamation lawusit commenced by former VP/CFO of Texaco's subsidiary for false allegations of withholding documents in a racial discrimination class action lawsuit.
Jun 11, 2002 WTC PAPERS MAY BE UNSEALED The Judge asked Blair Fensterstock, lead attorney for the plaintiffs, whether he planned to file a motion regarding the issue. He said he would. "In our original argument ... we made an emphatic argument that the horse was out of the barn," Fensterstock said of the suit filed about seven years ago. "Subsequent to 9/11, I ... said, 'The Barn is no longer there.' ... All of those documents should be able to be examined." Karen Freifeld, WTC Papers May Be Unsealed, NEWSDAY, June 11, 2002.
Jun 10, 2002 LEGAL ROW OVER '83 WTC BLAST Blair Fensterstock, lead attorney for the plaintiffs, said in papers filed May 24 that Caram "will testify as to the existence and/or lack of adequate measures and precautions relating to safety and security ... with respect to the World Trade Center complex and more particularly the underground parking garage." "They want to muzzle him because they're afraid of what he's going to say," Fensterstock said. "They're afraid he's going to say exactly what he's publicly stated in his book: That the Port Authority was negligent and reckless in failing to follow the recommendations of its own experts and consultants regarding the vulnerability of the World Trade Center." Karen Freifeld, Legal Row Over '83 WTC Blast, NEWSDAY, June 10, 2002.
May 30, 2002 DUNNING SUCCESFULLY RESOLVES LAWSUIT AGAINST ZIFF DAVIS Fensterstock & Partners LLP announced today its successful resolution of the lawsuit commenced by ex-Chairman of Ziff Davis, James Dunning, against Ziff Davis. In connection with a confidential settlement filed today, Mr. Dunning stated, "I am delighted with this resolution."
Apr 25, 2002 FENSTERSTOCK FIRM WINS $7 MILLION IN ARBITRATION AWARD AGAINST PRICEWATERHOUSE COOPERS Fensterstock & Partners LLP announced its victory for its client, Personal Path Systems, Inc., in an arbitration against Pricewaterhouse Coopers. Named as the respondent in this privacy software arbitration, Personal Path was successful on its counterclaim, being awarded $7 million against Pricewaterhouse Coopers.
Apr 1, 2002 ZIFF WINS ROUND. BUT DUNNING ALSO CLAIMS VICTORY IN SUIT. But Dunning attorney Blair Fensterstock is also claiming victory. "We think the case has uncovered incredible wrongdoing by Willis Stein & Partners and Ziff Davis," said Fensterstock. "I see it as a victory for us." "His personal jet was charged to Ziff Davis," claimed Dunning attorney Fensterstock. "It cost hundreds of thousands of dollars a year." Keith J. Kelly, Ziff Wins Round. But Dunning Also Claims Victory in Suit, N.Y. POST, April 1, 2002.
Apr 1, 2002 DUNNING SUIT WAGES ON AGAINST ZIFF "We'll be filing things almost on a daily basis in the next week or two," said Mr. Dunning's attorney, Blair Fensterstock of Fensterstock & Partners. He did not specify what the filings would be. But they would come on the heels of a ruling last month that left both sides claiming victory. "The substantive allegations of our complaint have been completely upheld," Mr. Fensterstock said. "If Willis Stein or Ziff Davis think that's a victory, they should let their shareholders know that Willis Stein's actions and the actions of the board may cause those shareholders to cough up over $100 million, plus punitive damages. If that's a victory, I'll eat my hat." Jon Fine, Dunning Suit Wages on Against Ziff, AVERTISING AGE, April 1, 2002.
Feb 28, 2002 FENSTERSTOCK FIRM, AS LEAD COUNSEL ON THE 1993 WORLD TRADE CENTER BOMBING CASES, SUCCEEDS IN UNCOVERING KEY LIABILITY DOCUMENTS After almost nine years of litigating the "public interest privilege" asserted by the Port Authority to shield the production of damaging documents, today the Court of Appeals ordered the production of documents directly relative to the Port Authority's culpability.
Feb 24, 2002 A FORGOTTEN FIGHT. COMPENSATION ELUDES MANY VICTIMS OF 1993 WTC ATTACK. "Their own experts predicted that of all of the buildings in the United States, the World Trade Center was the most likely to be bombed by a terrorist," said Blair Fensterstock, the lead lawyer for the plaintiffs' steering committee. Fensterstock also represents some of the businesses and insurance companies affected by the 1993 attack. "One of the reasons this case has taken so long is that the Port Authority has delayed it each time it could," Fensterstock charged. "Another reason is because these cases were brought in state court, and that means that every decision issued by a judge can be appealed twice. We have a difficult, novel theory in our case dealing with the public interest." Some lawyers, like Fensterstock, welcome the creation of the Federal Sept. 11th Victim Compensation Fund so that victims of the latest attack will not see their cases linger in the courts as the 1993 victims have. To get compensation from the fund, Sept. 11 victims must give up their right to sue. "I applaud the government for coming up with this latest fund," Fensterstock said. "It'd be a tragedy to drag this through the courts when there's potentially an avenue to compensate these victims... One good thing about this act means that there is now federal jurisdiction to handle all these cases. The world just wasn't ready for that in 1993." Patricia Hurtado, A Forgotten Flight. Compensation Eludes Many Victims of 1993 WTC Attack, NEWSDAY, Feb. 24, 2002.
Feb 1, 2002 MANAGEMENT TEAM OF DEUTSCHE BANK SUCCESSFULLY RESOLVES SUIT AGAINST BANK A management team of an IP subsidiary of Deutsche Bank expressed their gratification today at successfully resolving their lawsuit against the Bank.
Jan 30, 2002 LAWYER'S LIFE INTIMATELY INTERTWINED WITH THE TWIN TOWERS But Fensterstock's ties to the WTC are not merely professional, but extremely personal as well. His office at 30 Wall Street, just a few blocks from the WTC, was one of only two buildings in downtown New York that did not lose power after the attacks. After the first attack, he went to the WTC to look for his secretary, who was at the building when it occurred. He observed that, while everyone else was running away, "as a litigator does, I was running towards the World Trade Center." Thus, he was standing just 50 feet from the second tower when it too was hit, and saw the horrors first-hand. Although he dnies suffering any significant Post Traumatic Stress from the experience, he stated that everyone has it to some extent. His secretary of 15 years, for whom he was searching after the first attack, had greater difficulty coping, and had to leave the firm. Fensterstock remains optimistic, however, and called New York a better place to live and a "fabulous place to be now." David Ziemer, Lawyer's Life Intimately Intertwined with the Twin Towers, WIS, L.J., Jan. 30, 2002.
Nov 12, 2001 CHARGES FLY OVER AILING ZIFF DAVIS "This is an absolute malicious lie," said Mr. Dunning's attorney Blair Fensterstock, when asked to comment on such charges. "I have evidence to prove that right now, and we will." "I just think it's outrageous that a vulture capitalist like Avy Stein would breach representation to an honorable and successful executive like Jim Dunning, when Jim has made Avy probably a billion dollars," said Mr. Fensterstock. While no court dates are currently scheduled, Mr. Fensterstock said that "we may get some interesting decisions by the end of the year." Jon Fine, Charges Fly Over Ailing Ziff Davis, AVERTISING AGE, Nov. 12, 2001.
Nov 7, 2001 DUNNING US WRONG. SUIT: ZIFF BOSS HIRED HIS GIRLFRIEND, SPENT LAVISHLY. Blair Fensterstock, the attorney representing Dunning in his $300 million breach of contract and defamation suit, blasted back against the Willis Stein claims. "Their allegations are treacherous and insidious misrepresentations in their continuing campaign of defamation against Mr. Dunning," he said. Keith J. Kelly, Dunning Us Wrong. Suit: Ziff Boss Hired His Girlfriend, Spent Lavishly, N.Y. POST, Nov. 7, 2001.
Nov 6, 2001 OUSTED CEO IN COURT WAR WITH FORMER BACKERS. "Jim Dunning is going to win a lot of money -- he's been badly wronged," said Dunning's attorney, Blair Fensterstock.
Oct 10, 2001 LAWSUIT FREEZE PROMISES SPEEDY RELIEF "I can't put a number on this one, it's too large. I can't even imagine what it might be," said Blair C. Fensterstock of New York, one of 20 attorneys for the World Trade Center Bombing Litigation Steering Committee representing victims of the 1993 truck bombing of the center, which still is an open case. "I think the moratorium was a valiant and noble effort to allow victims time to digest the horrific ramifications of this attack, and to suggest to lawyers that they sit back, bide some time, and allow that process to occur," Mr. Fensterstock said. "We did finally get the documents that would prove liability by the Port Authority of New York and New Jersey," Mr. Fensterstock said, explaining the theory that the building was a magnet for terrorists. "[They] proved conclusively the World Trade Center was the building most likely to be bombed in the United States." Those 75 documents were stripped of what New York's highest court called "security-sensitive" data on threats other than the truck bomb, but Mr. Fensterstock said the Port Authority clearly considered the risk that an airliner could crash there, even if not necessarily in a deliberate act of terror, and had been on notice of the buildings' attraction for terrorists from arguments in the 1993 case. "For one thing, it is absolutely clear that when the Port Authority designed the World Trade Center it boasted that it could withstand a crash of a 707," he said. Frank J. Murray, Lawsuit Freeze Promises Speedy Relief, WASH. TIMES, Oct. 10, 2001.
Oct 8, 2001 '93 LAWSUITS UNSETTLED. TRADE CENTER CAR BOMB VICTIMS STILL WAITING. "Their own experts had predicted that of all of the buildings in the United States likely to be bombed by a terrorist, the World Trade Center was the most likely," said Blair Fensterstock, lead lawyer for the plaintiffs. Helen Peterson, '93 Lawsuit Unsettled. Trade Center Car Bomb Victims Still Waiting, DAILY NEWS, Oct. 8, 2001.
Oct 8, 2001 SUITS PENDING FROM '93 TRADE CENTER BLAST "The position we always put forth was that the World Trade Center was the target for terrorists," said Blair Fensterstock, of New York's Fensterstock & Partners, who chairs the plaintiffs' steering committee in the 1993 bombing cases. The Port Authority "downplayed that." Bob Van Voris, Suits Pending from '93 Trade Center Blast, NAT'L. L.J., Oct. 8, 2001.
Oct 4, 2001 DILEMMA FOR FAMILIES: QUICK CLAIM OR COURT? Blair Fensterstock, the lead attorney in the 1993 World Trade Center bombing suit, said his "guess is that by going through the court, you're going to get many multiples of what you would if you were going through the fund." Any negligence verdict that has come down in the past, he said, is going to pale in comparison. However, Broder and Fensterstock argue that the time and effort involved with a lawsuit may prompt a larger payoff over the long run. Fensterstock, who is still awaiting a trial date for the 1993 bombing, said the decision will be highly personal. "If it is important for you to get this behind you and get paid quickly but not as much, sue the claim fund," he said. "If it is important for you to ... discuss the problems thoroughly and to obtain proper compensation, then litigation is the proper route." The two sides also disagree on whether high civil verdicts will be paid in full, with Boyle saying there is a limited pot to draw from and Fensterstock saying challenges will go well beyond the airlines, making the payout potential "huge, almost bottomless." Karen Freifeld, Dilemma for Families: Quick Claim or Court?, NEWSDAY, Oct. 4, 2001.
Sep 30, 2001 LITIGATION THREATENS TO ENTANGLE RECOVERY. Eight years after that bombing, the case has yet to be heard. Blair Fensterstock, the lead attorney for the plaintiffs, says the delay is the fault of the Port Authority. The agency resisted turning over a series of internal reports that showed its officials not only anticipated a terrorist attack, but also predicted it would be carried out with a bomb in a parking lot. "I would hope that the judicial system would permit us to move much quicker in this situation," Fensterstock says. "Discovery can move a lot faster than the first time." The Port Authority is a likely target for suit in the latest attack, Fensterstock says -- particularly because an announcement made in the south tower after the first plane hit told workers it was safe to return to their offices. Moments later, a jet hit that building, which subsequently collapsed. "Those people should be compensated, clearly, as a result of that announcement," the lawyer says. "They could have gotten out and didn't." Kate Shatazkin, Litigation Threatens to Entangle Recovery, BALT. SUN, Sept. 30, 2001.
Sep 19, 2001 LAWSUITS FROM ATTACKS LIKELY TO BE IN THE BILLIONS. "Right now is not the time to initiate litigation," said Manhattan attorney Blair Fensterstock. "It's more important to rebuild the country. On the other hand there have been lives that have been disrupted and lost and families that will be left destitute as a result of this tragedy." The amount of litigation should be enormous -- "thousands and thousands of lawsuits involving billions and billions," of dollars said Fensterstock. It may be years before these cases are tried. Fensterstock knows. He is the lead plaintiff attorney in a lawsuit brought by more than 400 individuals against the Port Authority for the 1993 WTC bombing. Eight years later that case is still pending in Manhattan Supreme Court. Robert Gearty, Lawsuits From Attacks Likely To Be in the Billions, DAILY NEWS, Sept. 19, 2001.
Sep 17, 2001 WHO PAYS THE DAMAGES FOR SEPT. 11? The first World Trade Center bombing killed six people, yet resulted in 500 lawsuits by 700 individuals, businesses, and insurance companies, asking for $500 million in damages, says Blair Fensterstock, lead attorney in the case. Eight years later, the case is still not finished. In the WTC case, Fensterstock says, attorneys limited their fees to 6 percent, instead of the 33 percent that is the norm. Or, as in the case of medical malpractice, legislators may enact laws limiting attorney fees. Blair Fensterstock, the lead plaintiffs' lawyer, says the parties rae waiting for a trial date, which is unlikely this year. "I would think there would have to be a special tribunal set up for this," Fensterstock says. "This is not something that the judiciary should allow to clog up the courts." Seth Stern, Who Pays Damages for Sept. 11?, CHRISTIAN SCI. MONITOR, Sept. 17, 2001.
Sep 14, 2001 LAWSUITS LINGER YEARS AFTER FIRST WORLD TRADE CENTER ATTACK. The litigation, consolidated before New York County State Supreme Court Justice Stanley Sklar, includes more than 400 personal injury and business interruption claims, according to Blair Fensterstock, lead attorney for the companies and individuals bringing the suits. "The initial World Trade Center case is continuing," Fensterstock said. "The plaintiff steering committee has completed discovery on liability. We are getting ready for trial." Fensterstock finally won access to some of the documents last year, among them parts of a 1986 study of World Trade Center security that suggested an attack by a vehicle loaded with explosives was the most likely threat. The study also recommended eliminating public parking at the center. Claude Solnik, Lawsuits Linger Years After First World Trade Center Attack, FIN. & COM., Sept. 14, 2001.
Sep 6, 2001 JIM DUNNING SUES ZIFF DAVIS HOLDINGS Jim Dunning, ex-Chairman of Ziff Davis Holdings sues Ziff Davis Holdings for in excess of $50 million. Fensterstock & Partners LLP represents the plaintiff.
Feb 6, 2001 PERSONAL PATH SYSTEMS, INC. SUES PRICEWATERHOUSE COOPERS Personal Path Systems, Inc., privacy softare company, sues Pricewaterhouse Coopers for conversion of proprietary privacy solution model. Fensterstock & Partners LLP represents the plaintiff.
Jun 2, 2000 SENIOR PORTFOLIO MANAGER OF TORONTO DOMINION BANK SUE FOR BREACH OF EMPLOYMENT AGREEMENT Senior Portfolio Manager of Toronto Dominion Bank sues for breach of his employment agreement, defamation and discrimination. Fensterstock & Partners LLP represents the plaintiff.
Mar 23, 2000 MANAGEMENT TEAM OF DEUTSCHE BANK SUES FOR BREACH OF FIDUCIARY DUTY Management team of Deutsche Bank software subsidiary sue bank for breach of fiduciary duty, self dealing, mismanagement and breach of contract alleging damages of $30 million.
Jan 11, 2000 THE WTC BOMBING - REVISITED COURT SAYS TO PORT AUTHORITY: NO MORE APPEALS Until December 21, 1999, the lawsuits were essentially delayed. Some attorneys received the full documents last week. Blair Fensterstock, of Fensterstock & Partners LLP, liaison counsel for the cases and head of the steering committee appointed by State Supreme Court Justice Stanley Sklar to oversee them, says, "The Court of Appeals ruled that the PA has no more appeals on this issue." "[The OSP report's] primary conclusion, as far as we're concerned," says Fensterstock, "was that the World Trade Center was the most likely building to be bombed in the United States. And the way to do it would be to drive a van down into the basement, exactly the way it happened. It was negligence, gross negligence and recklessness." Claude Solnik, The WTC Bombing - Revisited Court Says to Port Authority: No More Appeals, VILLAGE VOICE, Jan. 11, 2000.
Apr 5, 1999 ARROW ANSWERS SUIT Blair Fensterstock, attorney for the former Support Net owners, said, "Arrow specifically excluded our senior management team from key meetings, undercut their authority and took all these actions in express violation of the signed agreement." Heidi Elliott, Arrow Answers Suit, ELECTRONIC NEWS, April 5, 1999.
Mar 29, 1999 ARROW SUED FOR $462M. Blair Fensterstock, the attorney representing former owners Henry Camferdam, Jr. and Jeffrey Adams, said the former owners allege they were promised an opportunity to take Support Net, then a $290 million in sales company, to $1 billion in sales. Mr. Fensterstock siad Arrow has denied Support Net executives access to financial data "making it impossible for (the former owners) to figure out what they should be making." Heidi Elliot, Arrow Sued for $462 M, ELECTRONIC NEWS, Mar. 29, 1999.
Mar 23, 1999 ARROW ELECTRONICS, GATES/ARROW, AND THEIR SENIOR OFFICERS SUED FOR $162 MILLION IN COMPENSATORY DAMAGES AND $300 MILLION IN PUNITIVE DAMAGES
Feb 10, 1999 TEXACO'S MOTION TO DISMISS THREE COUNTS OF LIBEL CLAIM DENIED On February 8, 1999, United States District Judge Lawrence M. McKenna denied Texaco's motion to dismiss 3 counts in a lawsuit filed by former VP/CFO of Bermuda-based Texaco subsidiary for false allegations of withholding documents for a racial discrimination class action lawsuit. Blair Fensterstock is representing the plaintiff.
Feb 3, 1999 MOTION FOR SUMMARY JUDGMENT DENIED IN COMPLAINT FILED AGAINST MARICOPA INTERNATIONAL INVESTMENT CORP., ET AL. George Liebmann, Kenneth Tsang and Charles Schwab & Co. United States District Judge Harold Baer, Jr. denies the motion to dismiss claim of federal securities fraud. Jorn Axel Holl of Fensterstock & Pratners LLP represents the plaintiff.
Jan 26, 1999 SHAREHOLDERS ACCUSE COMPANY OF FRAUD, SECURITIES LAW VIOLATION International Wireless' Series I preferred stock shareholders are seeking $81 million in economic damages and $325 million in punitive damages. They include Warburg Dillon Read LLC, BancBoston Investments, Inc. and Chase Latin American Equity Associates. Blair Fensterstock, a New York attorney acting for the shareholders, said Monday. "It was really a schedule to corporate ravage the assets of RMD," Fensterstock said. Jane Secombe, Shareholders Accuse Coompany of Fraud, Securities Law Violation, NEWS & REC. (Greensboro, N.C.), Jan. 26, 1999.
Jan 25, 1999 VANGUARD BOARD CHAIRMAN GRIFFIN AND VICE CHAIRMAN RICHARDSON NAMED IN $400 MILLION SUIT FOR FRAUD, SECURITIES LAWS VIOLATIONS
Mar 25, 1998 HUDSON OPTICAL CORPORATION Hudson Optical Corporation, Plaintiff-Appellant v. Cabot Safety Corporation, Defendant-Appellee. Ref: 97-9046, US Court of Appeals for the 2nd Circuit, 1998 US App. LEXIS 22391, March 25, 1998 Decided. Blair Fensterstock & Jorn A. Holl, counsel for the Plaintiff-Appellant.
Jul 30, 1997 DAVID LEVY, PLAINTIFF V. BESSEMER TRUST COMPANY, N.A., DEFENDANT Disposition: Defendants motion to dismiss granted in part and denied in part. Breach of contract claim dismissed, Plaintiff granted leave to replead that claim by August 29, 1997. Ref: 97 Civ. 1785 (JFK), US Dist. Court for the Southern District of NY 1997 US Dist. LEXIS* 11056; Comm Fut L Rep (CCH) P27,249 July 20, 1997. Filed Blair Fensterstock & Jorn A. Holl, counsel for plaintiff.
Apr 2, 1997 SOME TRADE CENTER SECURITY REPORTS RELEASED. Although Justice Stanley Sklar found much of the material too sensitive to disclose, the head of the plaintiff committee, Blair Fensterstock, asserted that the ruling would provide plaintiffs with sufficient ammunition to prevail on the civil claims. Mr. Green, however, added that the authority would review the materials to determine "whether their disclosure would have a chilling effect on our ability to conduct similar security analyses in the future." Mr. Fensterstock also said that he could not decide on an appeal until he sees the documents. Despite the shielding of much of the material that was sought by the plaintiffs, Mr. Fensterstock claimed the documents the judge ordered turned over would "confirm that the Port Authority foresaw the likelihood that the World Trade Center would be bombed, exactly the way it was likely to be attacked, and did nothing to deter it." Daniel Wise, Some Trade Center Security Reports Released, N.Y.L.J., April 2, 1997.
Apr 10, 2008 FENSTERSTOCK & PARTNERS LLP CELEBRATES 10 YEAR ANNIVERSARY!
Jun 24, 2007 BLAIR FENSTERSTOCK ELECTED FELLOW OF THE AMERICAN BAR FOUNDATION.
Apr 15, 2004 BLAIR FENSTERSTOCK ELECTED by the National Republican Congressional Committee as Businessman of the Year.
Mar 15, 2004 BLAIR FENSTERSTOCK SELECTED AS BARRISTER in New York Inn of Court.
Jan 1, 2004 NEW PARTNER ANNOUNCED Maureen M. McGuirl, formerly a partner at Gibson Dunn & Crutcher and Crosby Heafy Roach & May, becomes a partner at Fensterstock & Partners.
May 1, 2003 APPOINTMENT ANNOUNCED Blair Fensterstock elected Vice Chairman of Board of Regents of Center for Security Policy.
Sep 18, 2002 ELIZABETH PREVITE ACCEPTS OFFER to become first year associate.
Mar 1, 2002 BLAIR FENSTERSTOCK SELECTED FOR NYC 2012 LEGAL ADVISORY GROUP
May 17, 2001 RELIANCE NATIONAL INSURANCE COMPANAY EXECUTIVES SUE Key senior executives of Reliance National Insurance Company sue for breach of their Key Management Incentive Plan. Fensterstock & Partners LLP represent the plaintiffs.
Mar 15, 1999 FORMER NY COUNTY SURROGATE JUDGE MILLARD L. MIDONICK JOINS FENSTERSTOCK & PARTNERS LLP AS COUNSEL The former Judge of the Family Court of the State of New York from 1962-1971, and of the Surrogate's Court in the County of New York from 1972-1982, was most recently counsel at Tenzer Grenblatt, Fallon & Kaplan. At Fensterstock & Partners, Mr. Midonick will concentrate on trusts and estates and related litigation.
Apr 14, 1998 FORMATION OF FENSTERSTOCK & PARTNERS LLP ANNOUNCED
BYLINED ARTICLES, PUBLICATIONS, ETC.
Jan 16, 2002 IT'S AN HONOR TO WORK DOWNTOWN I read with some interest the article titled "Some Lawyers Decide Not to Return Downtown" in the Jan. 9 issue of the New York Law Journal. In the interest of fair exchange, you should note that many of us with offices downtown deem it an honor, a statement of loyalty, and pleasure to have our office in the financial district, especially after Sept. 11. Each morning as I exit the Lexington Avenue Subway at Wall Street and Broadway and walk to our offices at 30 Wall, I count our blessings that we are in the center of the universe. I observe the beauty of Wall Street, the Federal Building, and the New York Stock Exchange with the symbolic structures and their emblematic stature. At the same time, I am energized by my observations of the evidence of the hard work and courage of every individual who survived the Sept. 11 attack on freedom. I, for one, say good riddance to those few of us who don't have the stamina, the courage, and the fortitude, to stay in the financial district. This area of New York has always symbolized the historic traditions of freedom, democracy and entrepreneurship, and have been the mainstay of the business and legal community. Mayors Giuliani and Bloomberg have done a miraculous job bringing the area back to its former strength. At Fensterstock & Partners, we love this area and wouldn't give it up for anything. Blair C. Fensterstock, Letter to the Editor, "It's an Honor to Work Downtown, N.Y. L.J., Jan. 16, 2002.
Feb 9, 1999 INCOMPLETE ANALYSIS SEEN BY TAYLOR NY Law Journal*, Tuesday Feb 9, 1999 (Section: Letters to the Editor, pg. 2). By Millard L. Midonick
Dec 20, 1996 JFK WORRIES/MANY HAVE A STAKE IN ITS SECURITY, THAT'S THE PROBLEM Newsday*, Friday Dec 20, 1996 - all editions (Section: News pg. A07).
Jun 1, 1995 LITIGATION ISSUES FROM A FORMER PROBATE JUDGE'S PERSPECTIVE. INDUSTRY LEADERS PUT THE BUSINESS IN PERSPECTIVE Trusts & Estates, June 1995, Section Vol. 134; No. 6; page 58; ISSN: 0041-3682; (c) 1995 Argus Press, (c) 1995 Information Access Company, a Thomson Corporation Company. Byline: Millard L. Midonick
Feb 5, 2002 BLAIR FENSTERSTOCK ADDRESSES INSURANCE GROUP IN MILWAUKEE Addressing a room full of insurance and legal professionals at the Milwaukee Athletic Club, Blair Fensterstock discussed the connections between the February 1993 bombing of the World Trade Center and the bombing of September 11, 2001, and the impact of 9/11 on New Yorkers, and his participation on the NYC 2012 Committee, whose aim it is to attract the 2012 Olympics to New York City.
Jan 11, 1996 BLAIR FENSTERSTOCK TAKES PART IN PROGRAM TO REVIEW DISCRIMINATION SUITS The program, "Managing and Litigating Discrimination Actions", was held January 11, 1996 at the New York County Lawyers' Association. Among the other panelists were Southern District Judge Denny Chin; Eugene Anderson of Anderson, Kill, Olick & Oshinsky; Meryl Kaynard, Assistant General Counsel, Chemical Bank; Debra L. Raskin, Vladeck, Waldman, Ellas & Engelhard; and Mattie L. Thompson.
Oct 1, 1992 BLAIR FENSTERSTOCK OF THE CORPORATE COUNSEL SECTION OF THE NEW YORK STATE BAR CO-ORGANIZES PROGRAM & FORUM of speakers on timely subjects such as: (1) Building an Effective Internal Compliance Program in Response to the Federal Corporate Sentencing Guidelines; (2) Global Antitrust and Environmental Laws Compliance; (3) Worldwide Compliance with the Corrupt Practices Act; (4) Arbitration and International Business Transactions; (5) Criminal Aspects of Money Laundering and Integrating Domestic and International Law Compliance. Bart Schwartz and Charles Hann of the Section also co-organized these programs. NY Law Journal*, Jan 27, 1993 Wed; Section: NY State Bar Annual Meeting, 116th Annual Meeting; pages S-3. Headline: "In-House Counsel Programs".