LEONARD A. RODES, Partner
For more than 25 years, Len has successfully assisted clients involved in business disputes through sophisticated, skillful and creative representation in litigation, arbitration, mediation and negotiation. He has represented firms, and their managers, engaged in a wide range of business areas.
Practice Areas
- Hedge Fund Litigation
- Financial Industry Disputes
- International Retailers
- Real Estate
- Business Torts
- Commercial law
- Contract law
- Corporate law
- Partnership law
- Real estate
- Securities
- Agricultural Importers/Distributors
Selected Significant Matters
- Defended prominent satellite and aerospace company in action by Indian telecom company alleging breach of joint venture agreement and seeking $100mm in damages. Settled for less than $50,000.
- Prosecuted satellite and aerospace company's claims for coverage under D&O policy obtaining $20 million in coverage by settlement and judgment.
- Defended operating subsidiary of satellite and aerospace company in action by supplier of satellite components, obtaining favorable settlement.
- Prosecuted claim for breach of shopping center lease, resulting in modification of lease providing substantial landlord concessions to client and recovery of most attorneys' fees.
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- Prosecuting claim in UNCITRAL arbitration to recover damages under satellite services lease.
- Defending hedge fund manager in action by fund partner complaining of 80% decline in value of its $100mm investment.
- Representing California court appointed receiver for medical provider finance company in two New York matters, including foreclosure of $9mm mortgage on hospital property.
- Representing family partnerships and trusts in action against major New York bank to recover $1mm in custodial fees overcharged on $150mm portfolio.
- Has served for 15+ years as general counsel for U.S. distribution subsidiary for largest Israeli agricultural exporter.
- Defending real estate company against $300,000 electricity overcharge claim by Manhattan office building tenant.
- Brought arbitration to compel clients' former employer, a major investment bank, to enforce its fee agreement with a private equity firm in which clients had multimillion dollar participation. Obtained settlement pursuant to which bank, at its expense, brought fee collection action against PE firm.
- Advisor to trustee of Norwegian securities firm in connection with U.S. litigation arising from total loss of $150mm derivatives investment.
- Conceived of and filed claims on behalf of lender to film production company against film company auditors, based on their certification of materially false financial statements as GAAP-compliant, and also against film company directors and officers on theory that, when they submitted materially false financial statements to obtain multimillion dollar loan, the film company was in "zone of insolvency" and therefore owed fiduciary duties to lender. After commencing action, TRF was also engaged by film company's bankruptcy trustee to press similar claims belonging to the debtor. Soon after initiating the action, began settlement negotiations with defendants' insurers (D&O and professional liability), and obtained $7.5mm settlement, and bankruptcy court approval thereof, at the pleading stage.
- Represented owner of mutual fund administrative services company in negotiating highly favorable settlement of complex fraud claims brought by liquidators of Bermudian insurance company founded by client.
- Prosecuted claim by GE real estate subsidiary, as owner of major Manhattan office building, against tenant that refused to pay as "additional rent" its share of several years' worth of capital expense associated with re-pointing building's brick veneer. Obtained almost all of the claimed amount during private mediation.
- Defended work-out firm in action brought by lenders to Burger King franchisees against claims that work-out firm tortiously interfered with loan agreements by advising franchisees to default on loans as part of restructuring their debt to franchisor. Obtained summary judgment dismissing case against client.
- Represented owners, directors and officers of champagne producer in shareholder derivative action by notorious corporate raider. Obtained summary judgment dismissing action.
- Represented hedge fund principal in action against tax accountant for malpractice in connection with late filings. Obtained majority of loss in settlement negotiated with defendant's insurer.
- The Firm defended a heavy machinery manufacturer against claims that its "rock crusher" failed to process all-purpose waste at a warranted rate, causing a regulatory shutdown of the plaintiff's recycling plant. The plaintiff's $10 million case was dismissed after a seven-day bench trial in federal court.
- The Firm obtained a mid-six figure arbitration Award in favor of our Canadian client, a vitamin distributor, based on the client's claim that the respondent, a large American vitamin manufacturer, had wrongfully terminated their distribution contract.
- The Firm represented the co-owners of a highly successful mortgage banking company, who had sold the company's assets to a national savings and loan. Seizing upon a drafting ambiguity in the transaction documents, the thrift had refused to pay the final and largest component of the deferred purchase price. By aggressively litigating the claim, and obtaining deposition admissions fatal to the S&L's position, the Firm obtained 100% of the unpaid purchase price in an eve-of-trial settlement.
- The Firm represented a British inventor who had sold his invention to a company started by an American investor - with the purchase price deferred and to become due upon issuance of a U.S. patent. The investor obtained the patent, but then refused to pay the client, hiding behind the corporate veil of the buyer. By vigorously pressing alter ego liability claims against the investor, the Firm forced an early settlement by which the client recovered all rights to the invention - plus the U.S. patent that the defendant had prosecuted.
- The Firm represented a woman who had started a home-based business in 1965 with her boyfriend, using a pre-existing corporate shell formed by the boyfriend. In 1987, after the couple had grown the business into a multi-million-dollar brand, but with the personal relationship fading, the boyfriend disavowed the client's ownership interest. After several other law firms had failed to advance the case, we appeared for the plaintiff, concluded discovery, and fended off the defendant's summary judgment motion - triggering a high seven-figure settlement on the eve of trial.
- The Firm successfully prosecuted a claim on behalf of a client against its two partners that they had shirked certain capital contribution obligations under their partnership agreement. By pressing an expedited arbitration in the American Arbitration Association, the Firm obtained an award that forced the respondent partners not only to make the capital contributions in question, but also to pay the client's legal fees.
- The Firm defended a major insurance carrier against a $2.2 million claim under a D&O policy, stemming from the insured's unilateral settlement of an underlying commercial litigation. The Firm obtained an arbitration Award rejecting the insureds' claims entirely.
- The Firm represented a discharged investment banker in his action against a major multi-national investment bank for breach of a severance agreement, resulting in a jury verdict awarding our client 100% of damages sought as well as attorneys' fees.
- The Firm represented an executive search professional in his suit against his former employer, a major search firm, which refused to pay him a six-figure performance bonus because he was considering an employment offer from a competitor. On the eve of trial, the Firm obtained most of the withheld amount in a settlement.
- The Firm represented a beleaguered client facing a summary judgment motion that threatened him with $15 million of lease liability as a partner in a failed and insolvent retail tenant. As his new attorneys, we cross-moved for summary judgment, contending that a bankruptcy discharge of the retailer also operated to discharge our client. Faced with a sudden reversal of fortunes, the landlord settled for less than 1% of its damages.
- The Firm represented a real estate broker in his action to recover a commission on his client's secret purchase of a $10 million multi-use building in mid-town Manhattan. Soon after filing the complaint, we negotiated a six-figure settlement before the start of discovery.
- The Firm represented a medical consultant who had, in partial consideration of services rendered to a national drugstore and retailer, received stock options. Long after the consultant had stopped providing services, and at a time when they were worth roughly $800,000, the retailer cancelled the client's remaining options, without advance notice, based on termination provisions in the pertinent option agreement. The Firm obtained the majority of the cancelled options' value in a settlement at the conclusion of discovery.
