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Reid Collins & Tsai

From EverybodyWiki Bios & Wiki



Reid Collins & Tsai LLP
No. of offices4
OfficesNew York City, Austin, Dallas, Washington D.C.[1]
No. of attorneys28 (2016)[2]
Major practice areasbusiness litigation, insolvency
Key peopleWilliam T. Reid, IV, P. Jason Collins, Lisa S. Tsai, Rachel S. Fleishman, Eric D. Madden
Date foundedNovember 23, 2009
Company typeLimited liability partnership
Websiterctlegal.com

Reid Collins & Tsai LLP is a US law firm established in 2009 with offices in New York City, Austin, Dallas and Washington, D.C.. The firm represents plaintiffs in businesses disputes on a mixed-fee[3] or contingency-fee basis.[4] RCT is a member of the National Association of Federal Equity Receivers[5] and the American Bankruptcy Institute.[upper-alpha 1] Among the high-profile cases that the firm has litigated is the demand, made in 2012, for US$100 million from the singer Shakira by her former romantic and business partner Antonio de la Rua.[8][9]

Practice areas[edit]

Key practice areas include financial fraud, insolvency cases, professional liability, fiduciary litigation, mediation[10] and whistleblower actions.[4][2][11]

History[edit]

The firm was founded in November 2009 in Austin with 9 lawyers who previously worked at Latham & Watkins,[3] Diamond McCarthy[12] and the U.S. Department of Justice[3] with William T. Reid, IV, P. Jason Collins, and Lisa S. Tsai as founding partners. Among their first cases were the bankruptcies of Stanford International Bank,[13] Thelen LLP[14] and Cornerstone Ministries Investments.[15]

In 2010, Rachel S. Fleishman joined the firm to manage the NY office. By the end of 2010, the company had 15 lawyers.[4] Later in August 2013, the firm opened a Dallas office with Eric Madden[1] and J. Benjamin King as bankruptcy litigation partners,[16][17] joined later by Brandon V. Lewis.[18] In October 2014 Dallas office moved to Thanksgiving Tower building.[19][20]

In 2016, the firm had 28 lawyers.[2][4]

Notable cases[edit]

  • In 2012, Reid Collins & Tsai filed a US$100 million lawsuit against singer Shakira on behalf of her ex-boyfriend and former business partner Antonio de la Rua in the New York Supreme Court, seeking to "recover damages" for breach of contract and fiduciary duty.[8][9] The company made similar claims against Shakira in Los Angeles, Switzerland, and the Cayman Islands. All of the lawsuits were ultimately unsuccessful.[21]
  • In 2012, the firm handled several cases for one of their early clients, Highland Financial Partners, settling an alleged “legal malpractice/negligence” suit against Orrick, Herrington & Sutcliffe[22][23] and initiating a breach of contract case against Bank of America.[24] The firm also collectively sued Agape World Inc. of Nicholas Cosmo over unpaid contingency fees.[25][26]
  • In December 2013, the firm filed an $80 million claim against DLA Piper on behalf of its liquidators, claiming the firm helped two associated funds misappropriate millions of dollars[27] (in 2015 the judge dismissed the lawsuit).[28]
  • In 2014, the firm represented Plaintiff Claymore Holdings, LLC, as the assignee of the claims of investment funds managed by Highland Capital Management, LP, in a fraudulent inducement and breach of contract lawsuit against global investment bank Credit Suisse (Claymore Holdings, LLC vs. Credit Suisse AG, et al., Cause No. DC-13-07858, the 134th Judicial District Court of Dallas County, Texas). Following a three-week bench trial, the trial court found that Credit Suisse had breached its contractual obligations, and entered a judgment against it for $287.5 million.[29][30][31] The firm also filed a $1.15 billion suit against Citigroup, Bank of America, Goldman Sachs on behalf of relator Integra REC (largest financial fraud case ever brought by the state of Virginia (Case No. CL14-399)[32] resulting in a 2016 $63 million settlement to be paid to the state).[33] The company also resolved claims of corporate mismanagement filed by the former Astrotech Corporation’s CFO John Porter against the CEO Thomas Pickens III[34][35] and settled a clawback action for $32.2 million on behalf of Dreier LLP post-confirmation plan administrator.[36][37][38]
  • In February 2015, the firm represented Tibanne Ltd, the parent company of Mt. Gox, bitcoin exchange when the company filed for bankruptcy protection seeking shelter from U.S. lawsuits (Case No. 15-10255-mkv).[39]

Notable attorneys, employees and alumnii[edit]

References[edit]

Notes[edit]

  1. ↑ RCT partner Eric D. Madden serves as the Co-Chair of the Bankruptcy Taxation Committee[6] and the Commercial Fraud Committee[7] of the American Bankruptcy Institute.

Citations[edit]

  1. ↑ 1.0 1.1 Council, John (2015-06-01). "Reid, Collins & Tsai Flourishing With Contingency Fees". law.com. Retrieved 2017-12-09.(subscription required)
  2. ↑ 2.0 2.1 2.2 Brenda Sapino Jeffreys (2016-12-15). "Plaintiffs Firm Touts Texas-Sized Bonuses to Top Cravath". law.com. Retrieved 2017-12-09.(subscription required)
  3. ↑ 3.0 3.1 3.2 Zoe Tillman (2016-02-08). "Reid Collins & Tsai". The National Law Journal. Retrieved 2017-12-09.(subscription required)
  4. ↑ 4.0 4.1 4.2 4.3 Katrina Dewey (2016-12-04). "Lawyer Limelight: William "Bill" T. Reid IV and Lisa S. Tsai". lawdragon.com. Archived from the original on 2017-09-23. Retrieved 2017-12-09.
  5. ↑ "NAFER welcomes new members!" (PDF). The Receiver (Summer 2015). Archived from the original (PDF) on 2017-12-09. Retrieved 2017-12-09.
  6. ↑ "Bankruptcy Taxation Committee". American Bankruptcy Institute. Archived from the original on 2016-04-07. Retrieved 2017-12-09.
  7. ↑ "Commercial Fraud Committee". American Bankruptcy Institute. Archived from the original on 2017-12-23. Retrieved 2017-12-23.
  8. ↑ 8.0 8.1 Cobo, Leila (1 December 2012). "Shakira Hit With $100 Million Lawsuit by Ex-Boyfriend". Billboard. Retrieved 1 July 2018.
  9. ↑ 9.0 9.1 "Shakira's ex-boyfriend files $100 million lawsuit against singer". CBS News. 4 December 2012. Retrieved 1 July 2018.
  10. ↑ Diane Davis (2016-04-20). "Mediation Plays Increasing Role in Bankruptcy Cases". Bankruptcy Law Reporter. Bloomberg BNA. Archived from the original on 2016-07-27. Retrieved 2017-12-09.
  11. ↑ "Small Size, Big Cases: The 2016 Litigation Boutiques Hot List". The National Law Journal. 2016-02-08. Retrieved 2017-12-09.(subscription required)
  12. ↑ Jacob Dirr (2009-12-20). "Eight Diamond McCarthy lawyers defect to start new firm". Austin Business Journal. Archived from the original on 2017-12-08. Retrieved 2017-12-08.
  13. ↑ "In re Stanford International Bank Ltd. Debtor in a Foreign Proceeding". Law360. Archived from the original on 2017-12-09. Retrieved 2017-12-09.
  14. ↑ Triedman, Julie (2014-11-21). "Key Ruling Brings Thelen Bankruptcy Closer to Conclusion". The American Lawyer. Retrieved 2017-12-09.(subscription required)
  15. ↑ Williams, Bob (2011-03-15). "Unfinished Business for the Presbyterian Church in America (PCA)". christianobserver.org. Archived from the original on 2016-08-16. Retrieved 2017-12-09.
  16. ↑ Jess Krochtengel (2013-08-27). "Reid Collins Opens Dallas Office With Diamond McCarthy Hires". Law360. Archived from the original on 2017-12-09. Retrieved 2017-12-09.(subscription required)
  17. ↑ Andrew Mizner (2013-08-30). "Texas firm doubles down". cdr-news.com. Archived from the original on 2017-12-09. Retrieved 2017-12-09.(subscription required)
  18. ↑ "Lawyers on the move". Texas Bar Journal. 77 (3): 283. 2015-05-21. Archived from the original on 2015-09-13. Retrieved 2017-12-08.
  19. ↑ Steve Brown. "Downtown Dallas' Thanksgiving Tower lands several new office tenants". The Dallas Morning News. Archived from the original on 2017-12-22. Retrieved 2017-12-22.
  20. ↑ Candace Carlisle (2014-10-17). "Sneak Peek: Thanksgiving Tower Renovation". Dallas Business Journal. Archived from the original on 2015-03-03. Retrieved 2017-12-22.
  21. ↑ Associated Press (8 February 2013). "Court Dismisses Shakira Lawsuit Filed By Ex-Boyfriend". Billboard. Retrieved 1 July 2018.
  22. ↑ Margaret Taylor (2012-01-30). "Highland Financial hits Orrick with $95m claim as RBS case continues". The Lawyer. Archived from the original on 2017-12-10. Retrieved 2017-12-10.(subscription required)
  23. ↑ Jess Krochtengel (2012-11-30). "Orrick Resolves $95M Malpractice Claims Over CDO Deal". Law360. Archived from the original on 2016-03-17. Retrieved 2017-12-10.(subscription required)
  24. ↑ "Highland Capital Management, L.P. et al v. Bank of America, National Association". Law360. Archived from the original on 2017-12-10. Retrieved 2017-12-10.(subscription required)
  25. ↑ "IN RE AGAPE WORLD, INC". leagle.com. 2012-02-21. Archived from the original on 2017-12-10. Retrieved 2017-12-10.
  26. ↑ "HIGHLAND CAPITAL MANAGEMENT v. BANK OF AMERICA NATIONAL ASSOCIATION". findlaw.com. 2012-10-02. Archived from the original on 2017-12-11. Retrieved 2017-12-11.
  27. ↑ Christine Simmons (2013-12-13). "Liquidators of Investment Funds Sue DLA Piper". New York Law Journal. Retrieved 2017-12-11.(subscription required)
  28. ↑ Christine Simmons (2015-09-17). "Judge Dismisses Suit Against DLA Piper". New York Law Journal. Retrieved 2017-12-11.(subscription required)
  29. ↑ Jess Krochtengel (2014-12-02). "Highland Entity Blames Credit Suisse For $285M Refi Loss". Law360. Archived from the original on 2015-09-11. Retrieved 2017-12-10.(subscription required)
  30. ↑ Tom Hals (2014-12-19). "Jury faults Credit Suisse in Lake Las Vegas refinancing". Reuters. Archived from the original on 2017-12-09. Retrieved 2017-12-09.
  31. ↑ Cronin Fisk, Margaret; Korosec, Tom (2015-09-05). "Credit Suisse Ordered to Pay Highland Capital $287.5 Million". Bloomberg News. Archived from the original on 2015-09-09. Retrieved 2017-12-09.(subscription required)
  32. ↑ "Virginia Sues 13 Banks For $1.15 Billion Alleging Fraud". Financial Advisor. 2014-09-17. Retrieved 2017-12-09.
  33. ↑ Dani Kass (2016-01-22). "11 Big Banks To Pay Va. $63M Over Alleged RMBS Fraud". Law360. Archived from the original on 2017-09-23. Retrieved 2017-12-09.(subscription required)
  34. ↑ Melby, Caleb (2013-04-16). "Billionaire T. Boone Pickens Sues His Son, Alleging 'Cyberbullying'". Forbes. Archived from the original on 2013-04-18. Retrieved 2017-12-13.
  35. ↑ Calnan, Christopher (2014-04-30). "Austin company settles mismanagement lawsuit filed by former CFO". Austin Business Journal. Archived from the original on 2014-05-31. Retrieved 2017-12-13.
  36. ↑ Andrew Scurria (2014-10-15). "Dreier Investor Settles Ponzi Scheme Claims For $32M". Law360. Archived from the original on 2014-11-05. Retrieved 2017-12-13.(subscription required)
  37. ↑ Sara Randazzo (2014-10-15). "With Settlement, Marc Dreier Is Off the Hook for Court Testimony". The Wall Street Journal. Archived from the original on 2014-10-18. Retrieved 2017-12-13.(subscription required)
  38. ↑ "October 2014 Ponzi Scheme Roundup". American Bankruptcy Institute. Archived from the original on 2017-12-13. Retrieved 2017-12-13.
  39. ↑ Rozens, Aleksandrs (2015-05-21). "Mt. Gox, Cointerra Top the List of Bitcoin Bankruptcy Filers by Liabilities" (PDF). Bloomberg Brief (Special Report: Bitcoin): 30. Archived from the original (PDF) on 2017-12-08. Retrieved 2017-12-08.
  40. ↑ Martin, Gary (2010-07-28). "Obama names Laredo lawyer to federal judge post". Houston Chronicle. Archived from the original on 2012-10-24. Retrieved 2017-12-09.
  41. ↑ "Garcia Marmolejo, Marina". Federal Judicial Center. Archived from the original on 2017-12-08. Retrieved 2017-12-09.

External links[edit]


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