Jeremy Wallison’s practice focuses on trial court, appellate and arbitral litigation of complex, make-or-break business disputes. For his work in this area, Mr. Wallison, every year since 2014, has been named to the New York Super Lawyers list, a Thomson Reuters publication honoring the top 5% of lawyers in New York in particular practice areas based on a variety of factors, including peer review and professional achievement. At both Wallison & Wallison and, prior to that, as a business litigation partner at Foley & Lardner LLP, Mr. Wallison has achieved remarkable results for clients across diverse industries and areas of law. Notable victories include:
- Won dismissal of securities fraud class action complaint on the basis of what the court termed a “novel theory” – that plaintiffs could not prove conscious misbehavior or recklessness sufficient to give rise to an inference of fraudulent intent where the fraudulent scheme alleged was unlikely to succeed. In re Geopharma, Inc. Sec. Litig., 399 F.Supp.2d 432 (S.D.N.Y. 2005) (dismissing securities fraud complaint with leave to replead); In re Geopharma, Inc. Sec. Litig., 411 F.Supp.2d 434 (S.D.N.Y. 2006) (dismissing securities fraud complaint with prejudice after leave to replead);
- Won summary judgment dismissal of products liability claim and successfully defended dismissal on appeal. Granata v. Sub-Zero Freezer Co., Inc., No 10655/03, 2006 WL 1358468 (Sup. Ct. March 27, 2006), aff’d 841 N.Y.S.2d 469 (2d Dep’t 2007);
- Obtained appellate court reversal in breach of contract claim by establishing that oral acceptance of a competitive bid can give rise to contractual liability even when the parties contemplate subsequent negotiation and preparation of a formal purchase and sale agreement. Emigrant Bank v. UBS Real Estate Securities, Inc., 854 N.Y.S.2d 39 (1st Dep’t 2008);
- Won arbitration of complex lease dispute regarding novel question of how to account for lease termination payments, under GAAP, in calculating a percentage rent obligation;
- Obtained judgment against defaulted borrower for full amount of outstanding debt, then obtained dismissal of borrower’s countersuit for fraud and breach of contract, then won judgment against borrower for the full amount of legal fees incurred in defending the countersuit, then successfully defended dismissal and legal fees award on appeal. Edelman v. Emigrant Bank Fine Art Finance, LLC, 933 N.Y.S.2d 270 (1st Dep’t 2011);
- Helped lead litigation team in complex dispute over breach of indenture and fraudulent conveyance claims arising out of a restructuring involving billons of dollars in publicly traded debt, ultimately securing favorable settlement for bondholders. Travelport Limited, et al. v. Computershare Trust Company, N.A., Southern District of New York, Case No. 11 Civ. 7704 (PKC);
- Won dismissal with prejudice of complex fraud and breach of fiduciary duty lawsuit asserted in connection with an acrimonious business divorce involving two accounting companies. Marcum, LLP v. Rosenfarb, Index No. 27407-13, 2014 NY Slip Op 31216(U) (N.Y. Sup. Ct. April 3, 2014);
- Using fraudulent conveyance and veil-piercing claims, in actions in both state and federal court, collected $3.9 million of a $4 million judgment originally obtained against an empty shell corporation;
- Using Delaware’s information rights statute, successfully obtained from private corporation financial information sufficient to allow former CEO to market and sell her shares in the corporation; and
- In a first-of-its-kind case in New York, convinced both a trial court and appellate court that a consensual foreclosure transaction between a lender and financially distressed hedge funds involving $250 million in assets could be unwound on the basis of the lender’s “bad faith” exploitation of bargaining leverage in securing the hedge funds’ consent to the terms of the exchange; case settled for a substantial payment to client (a liquidating entity acting for the benefit of creditors of the hedge funds) soon after the appellate court affirmed the viability of the claim. Stillwater Liquidating LLC v. Partner Reins. Co., Ltd., 2017 WL 318658 (N.Y. Sup. Ct. Jan. 23, 2017), aff’d 59 N.Y.S.3d 8 (1st Dep’t 2017).
Mr. Wallison also is an active participant in professional and civic organizations — including New York American Inn of Court, New York City Bar Association, International Bar Association, and Union Internationale des Avocats — and writes and lectures regularly on emerging issues in business law. Recent publications and presentations include:
- “Cross-border discovery in International Disputes,” presented at the 10th Winter Seminar of Union Internationale des Avocats, February 26, 2015;
- “Valuing Contingent or Disputed Assets And Liabilities in Solvency Opinions,” The Review of Banking & Financial Services, Vol. 30, No. 5 (May 2014);
- “Valuation of Contingent and Disputed Liabilities and Assets in Solvency Determinations,” co-presented at Valcon 2013, February 20, 2013; and
- “Traps for the Unwary in LOIs, NDAs and Other Preliminary Agreements — A Litigator’s Perspective,” co-presented at the New York Chapter of the Association of Corporate Counsel, February 23, 2012.
Mr. Wallison received his A.B., cum laude, from Harvard University, where he was awarded the Harvard College Scholarship, and his J.D. from the New York University School of Law, where he was a Leslie and Edmund Glass Fellow.