Edward E. Filusch’s practice focuses on complex commercial litigation in state and federal courts, as well as in arbitration. Ed represents public and private companies, private equity and other investment firms, partnerships, and individuals in industries including financial services, structured products, real estate, insurance, and manufacturing. Ed has been recognized on Benchmark Litigation’s 40 & Under Hot List and as a Rising Star in New York Metro Super Lawyers in the area of Business Litigation.
Prior to joining Kasowitz, Ed served as a law clerk to the Honorable Brian M. Cogan of the United States District Court, Eastern District of New York.
Work Highlights
- MBIA, as trial counsel, in a long-running put-back action against Credit Suisse in which MBIA is seeking to recover over $740 million related to RMBS insured by MBIA, resulting in a two-week trial in New York State Supreme Court, one of the very few such actions to go to trial. The court’s decision is currently pending.
- A leading international insurance company in an international arbitration governed by The Danish Institute of Arbitration rules of arbitration procedure concerning a nine-figure coverage dispute under a professional indemnity insurance policy.
- Howard Meyers, the Chairman of Eco-Bat Technologies, the world’s largest producer and recycler of lead, in actions for purported breach of contract, fraud, racketeering, and other alleged misconduct brought by a number of investment funds concerning a €600 million payment in kind loan that later was securitized and sold to investors.
- Insight Global, a national staffing and services company, in reaching a successful settlement of its legal battle in the U.S. District Court for the Southern District of New York against a national competitor arising out of the competitor’s alleged employee-poaching scheme and misappropriation of Insight Global’s trade secrets.
- TPG, one of the world’s largest private equity firms, and senior TPG partners, in bankruptcy proceedings and multiple state and federal court actions concerning TPG portfolio company Caesars Entertainment. Claims at issue included alleged fraudulent transfers, breaches of governing indentures, and breaches of fiduciary duty in connection with controversial and complex transactions undertaken prior to the bankruptcy filing of Caesars' operating subsidiary.
- 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.
- A major investment fund concerning multi-million dollar disputes arising from real estate deals and related securitizations.
- Private equity portfolio fund manager in multi-million dollar disputes with partners concerning valuation of firm’s RMBS portfolio and improper wind-up of the firm.
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