Alana Sher Klein’s practice focuses on complex civil litigation. Alana also has experience in the areas of creditors’ rights and bankruptcy. She represents both plaintiffs and defendants in federal and state court actions. Alana has been recognized as a “Rising Star” in New York Metro Super Lawyers. She has also been recognized in Super Lawyers’ Top Women Attorneys in Metro New York Rising Stars publication.
- The 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.
- The indenture trustee for $1.3 billion of subordinated notes in connection with the Chapter 11 reorganization of Lyondell Chemical Company, the world’s third largest chemical producer.
- Several hedge funds as plaintiffs in breach of fiduciary duty litigation against The Bank of New York Mellon as notes trustee.