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RTC v. Stroock, Stroock & Lavan in Federal Court in Miami, April 1994. This case grew out of the savings and loan crisis of the late 1980s. The institution in question was Commonwealth Savings and Loan in Miami. After the two founders of the firm were convicted of criminal charges, the Resolution Trust Corporation sued Stroock, Stroock & Lavan for failing to properly advise the Board of Commonwealth with regard to investment in junk bonds. To simplify matters, Federal Judge Gonzalez decided to bifurcate the trial and try the damages question first. Working with attorneys from Sidley, Austin, I was able to convince Judge Gonzalez that they were no damages associated with Commonwealth’s investments in junk bonds. In response, he ruled that a liability trial would not be necessary and dismissed the case against Stroock, Stroock & Lavan.
