Source: http://graysonlaw.com/litigation.html
Timestamp: 2019-04-25 16:37:06+00:00

Document:
Hyman v. General Electric Corporation and Sabic Innovative Plastics US, LLC, et al.
Superior Court at Stamford, Connecticut.
We were retained to represent the liquidation Estate of a major chemical distriubtor in an action against General Electric and the Saudi Arabian Basics Industry Corporation, wherein we are seeking $30,000,000 for breach of a partnership agreement relating to a large Phenol Plant in Indiana and breach of an agreement to market Acetone throughout the United States. This case has related proceedings in both Connecticut and Florida.
We were retained to represent Jeffrey Kong, the single most successful mortgage trader in 2009, in his $75,000,000.00 action for compensation against Structured Portfolio Management, LLC, the No. 1 rated hedge fund in the country at time in terms of performance. We were responsible for obtaining a very favorable (confidential) settlement for Mr. Kong. This case was closely followed in the financial press.
We acted as co-chair of the discovery committee in one of the largest class action suits pending in the U.S., arising out of the conspiracy between a number of international shipping companies to fix prices and carve out trading lanes for the purpose of ocean carriage of liquified petrochemicals in bulk. Two of the four defendants have pleaded guilty to various complaints brought by the U.S. Department of Justice. We are also special counsel to the co-lead counsel in the Court-ordered arbitration related to this case.
Xplore Technologies Corp. v. Killion and DRS Technologies, Inc.
We sucessfully represented Xplore Technologies, a pubically traded company, in its action against billion dollar defense contractor, DRS Technologies, in a declaratory judgment action whereby we were able to enforce a Non-Compete/Non-disclosure agreement, which then allowed Xplore to successfully obtain a contract for rugged tablet computers from AT&T, valued in excess of $20,000,000.
We were retained by Ashland Management, a high net worth manager specializing in large cap equities, who in 2002 sold its wrap-fee business to Lighthouse Growth Advisors, an affiliate of the Dreyfus Companies and a Mellon subsidiary. This action involves Ashland’s Complaint to recover $5.5 million as part of a contingent payment based on a threshold related to the Assets Under Management that were transferred as part of the transaction. We are in the discovery phase of the litigation. Lighthouse is represented by Reed Smith.
We were were successful in first prevailing in a multi-day trial and then on appeal (where the defendant was represented by Day, Berry & Howard) on claims brought by a Greenwich based commercial real estate broker against both a tenant (one of the largest privately held financial firms in the U.S.) and the owner of Pickwick Plaza, Greenwich, for space leased in one of the most valuable commercial complexes in Greenwich. (We settled with the building owner after the appeal was filed.) In the midst of the lower court proceedings we prevailed on the filing of a lis pendens on the complex, which held up the closing of the sale to a new owner for $122,000,000 until our client’s claim was bonded out. We also managed to have interest awarded against the tenant on the principal claim at the rate of 22% per annum.
Stotlhaven Terminals v. JLM International, Inc.
This multimillion dollar arbitration involved a subsidiary of Stolt Shipping, Inc. which operates a terminal and tank facility in New Jersey. We represented the user who terminated a complex through-put contract, when it purchased the assets of a division of Louis Dreyfus, who had the original contract with Stolt.
We were retained by the purchaser of the assets of Browning Chemical Co. to defend an action in the amount of $2,500,000 brought by RubyMonte Maritime arising out of the decomposition of a container of thiourea dioxide carried on board M/V WEALTHY RIVER from China to the U.S. Our clients have claim over against the Browning shareholders for breach of the representations and warranties in the asset/purchase agreement for what we see as the failure to disclose this liability. The case is in its initial stages.
Enron Clean Energy v. JLM International, Inc.
We represented the purchaser of bulk methanol under a year’s supply contract against claims by the supplier in excess of $1,750,000, when the market price of methanol dropped drastically in 1998. The case was litigated simultaneously in New York and Texas. The case settled under seal on terms favorable to our client, when the client was given authorization to force Enron to disclose its profit margins and cost structures.
We tried a major case against a local securities broker/dealer who was represented by the New York office of Winthrop Stimson Putnam & Roberts. The case was litigated over three months and involved mainly partnership and shareholder issues as they relate to B/D’s and the NASD. SEC and NASD rules and regulations were also involved. The case resulted in the early recovery/recapture in full of our client’s capital account and an additional 6 figure award, which was recently collected in full with interest. We also prevailed in defeating counterclaims of $1,800,000.
We tried an arbitration against Nelson Peltz, who is on the Forbes 400, relating to the construction of a $2.9 million pool house and a $1 million ice rink at his estate in Bedford, NY. The case settled in the 6 figure range under seal after the first day of arbitration, immediately after we convinced the Arbitration Panel they had the authority to award punitive damages.
Swiss Bank v. Chemical Trading, Inc.
We obtained summary judgment against Swiss Bank who sued our client for return of monies it alleged were wrongly paid under a letter of credit. The case involved the sale and shipment of chemicals in bulk from the U.S. to Morocco and the law regarding the obligations of Banque Marroicane, the opening/issuing bank in Morocco, Swiss Bank as the confirming bank in New York and our client, as Swiss Bank’s client. This case was intensely litigated with depositions of Swiss Bank employees in New York and of our client in Florida.
William Foxley v. Sotheby’s, Inc.
We represented one of the country’s largest collectors of Western art (and owner of at what was at one time the country’s largest cattle company) in a suit against Sotheby’s arising out of the fraudulent sale of art in an amount in excess of $650,000. The case was heavily litigated for two years and was also closely followed in the art and auction publications. We understand the case is reported in the most recent edition of Ralph Lerner’s Art and the Law. The case settled under seal but we can report the settlement favored our client.
We tried a three-month arbitration before the American Arbitration Association in New York, where we represented a French group that held certain license rights to an internationally known fashion line against the U.S. manufacturer, VF Industries, a publicly traded company that is best known for manufacturing Wrangler and Lee jeans. The claims involved breach of the license agreement, business destruction and commercial fraud in excess of $3,000,000. Simultaneously litigation was proceeding in the Southern District of New York. VF was represented by both the New York and Philadelphia offices of Deckert Price & Rhodes. After the final briefs were submitted, the case settled under seal in our client’s favor.
Olefins Trading, Corp. v. Han Yang Petrochemical Corp.
We won a jury verdict against a billion dollar Korean petrochemical company represented by Kelly Drye & Warren, arising out of a multimillion dollar chemical trading contract. The trial judge reversed the jury and on appeal, we had the Judge reversed 3-0 by the United States Court of Appeals for the Third Circuit. Olefins is now an important and often cited case in the areas of oral modifications to a UCC contract and the interplay of the common law and UCC 2-207. After the decision of the Third Circuit, the then managing partner of Kelly Drye retained us to handle all of his personal clients’ litigation. That relationship still exists today.
We commenced an action on behalf of a local tug boat operator against a number of parties to seek recovery of major towing and fuel bills. Opposing counsel were Robinson & Cole, Cummings & Lockwood and a major New York admiralty firm. We obtained a judgment for 100% of the claims, plus attorneys’ fees, which were fully collected.
We obtained a settlement for a surety in Florida (who bonded out a bankrupt contractor) from the Florida DOT in excess of $4 million. At that time, it was the fourth largest settlement in the Florida DOT’s history and arose out of a highly publicized bridge project leading into the Ft. Lauderdale Airport, which at one point during construction was seized by M-16 toting Florida State Troopers.
We represented sponsors of a syndicated limited partnership in breach of contract action with vendor (owner of the improvements) and ground owner/lessor of $14 million shopping center for failure to close and fraudulent presentment of ownership and closing documentation.
We represented the seller and holder of the second mortgage in a number of actions relating to foreclosing on the mortgage and recovering on personal guaranties for the sale and financing of a waterfront lot in Darien, Connecticut.
Represented owner/landlord in successful eviction of tenant and subtenant of large commercial grocery store in third year of long term lease.

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