Bradley P. Lerman’s practice focuses on complex commercial litigation in both federal and state courts in New York and around the country. He has represented companies, government-sponsored entities, trustees and other individuals in a broad range of commercial disputes involving breach of contract, securities claims, insurance disputes, fraud claims, and RICO allegations.
Mr. Lerman has also taken on numerous pro bono clients and has assisted with child support matters, landlord/tenant disputes and has worked on getting reparations for Holocaust survivors. In his spare time he is a volunteer Big Brother with the Jewish Board of Family and Children’s Services (“JBFCS”).
- Le-Nature’s Liquidation Trust, formed from the bankruptcy of a nationwide beverage manufacturer, resulting in the prosecution of a multi-district litigation against insiders, auditors, financial advisors, and other third parties.
- Federal Housing Finance Agency, as conservator for Fannie Mae and Freddie Mac, in actions in federal and state courts against numerous financial institutions and individuals. The lawsuits sought rescission or damages from the banks for, among other things, their misrepresentations concerning pools of mortgage loans that underlie residential mortgage-backed securities the banks issued, securitized and sold to Fannie Mae and Freddie Mac. After prevailing on critical pre-trial issues, FHFA settled the actions brought by Kasowitz for over $2 billion, including a $1.25 billion settlement with Morgan Stanley.
- MBIA, one of the world’s largest monoline insurers, in litigation brought by 18 of the world’s largest banks seeking to overturn MBIA’s corporate restructuring which, with the approval of the New York Department of Insurance (now the Department of Financial Services), established a separate company for MBIA’s municipal bond insurance business. After a several-week evidentiary proceeding, the New York Supreme Court ruled in favor of MBIA, upholding MBIA’s restructuring. The banks agreed to drop their challenge to MBIA’s restructuring, and MBIA then received $1.7 billion in cash and a $500 million line of credit for its municipal bond insurance business.