David Litterine-Kaufman

David Litterine-Kaufman is an experienced trial lawyer with a record of achieving successful litigation outcomes for financial institutions and other large companies in federal, state, and bankruptcy courts across the country and throughout the litigation process.

• Engagements

  Bankruptcy Litigation

  David has represented creditors holding nine-plus figure claims against debtors in adversary proceeding trials and other disputed proceedings before the most sophisticated bankruptcy courts in the country. For example:

  • Secured Creditors with $100+ Million Claim.  Obtained a resounding victory at trial for secured lenders and UBS O’Connor, as investment advisor, in an adversary proceeding brought by two chapter 11 debtors and their non-debtor affiliates seeking to invalidate the lender’s right to collateral securing a nine-figure loan. David pursued expedited fact and expert discovery, culminating in a week-long trial in the Bankruptcy Court for the Southern District of Texas, where David conducted direct examinations of key fact and expert witnesses, cross-examined two expert witnesses, and successfully argued a motion to preclude additional expert testimony. After trial the Court rendered an opinion affirming the $100+ million claim. David also led the charge on a parallel appeal of a motion to dismiss the chapter 11 filings. (AVR AH LLC v. Nineteen77 Capital Solutions A LP (In re Strudel Holdings LLC) (Bankr. S.D. Tex.))
  • Global Drug Development Company with $100+ Million Claim.  Defended a drug co-development partner in an adversary proceeding brought by a chapter 11 debtor seeking to extinguish its partner’s rights to the development program for a breakthrough drug in Phase 3 clinical trials so it could sell the program to a third party. After highly expedited litigation in the Bankruptcy Court for the District of Delaware, the night before trial David and the team secured the debtor’s agreement to transfer the program to our client, thus preserving the client’s investment and enabling the development program to continue. (PhaseBio Pharmaceuticals, Inc. v. SFJ Pharmaceuticals X, Ltd. (In re PhaseBio Pharmaceuticals, Inc.) (Bankr. D. Del.))
  • UK-based Financial Services Company with $100+ Million Claim.  Represented the joint liquidators of a UK-based financial services company in a chapter 11 bankruptcy filed by Katerra Inc. and its 32 affiliated debtors in the Bankruptcy Court for the Southern District of Texas. David was an integral part of the team that pursued nine-figure fraudulent conveyance claims against several Katerra entities in connection with various contracts executed in the months preceding Katerra’s petition. The matter was resolved in advance of trial. (In re Katerra Inc. (Bankr. S.D. Tex.))
  • Operator of Ultra Deepwater Drill Ships in Chapter 15 Recognition Proceeding.  Played a critical role in disputed chapter 15 recognition proceedings in the Bankruptcy Court for the Southern District of New York on behalf of a Cayman-domiciled deepwater drilling company. As an associate, David defended the depositions of a member of the debtor's board of directors and of a senior executive of the company. David also ran point on preparing dispositive briefing. The creditor fighting chapter 15 recognition dropped its objection halfway through deposition discovery, paving the way for the successful restructuring of more than $3.7 billion of institutional debt. (In re Ocean Rig UDW Inc. (Bankr. S.D.N.Y.))
  • International Shipping Company Facing Fraudulent Conveyance Claims.  Defended an international shipping company against fraudulent conveyance claims asserted in a lawsuit in the Republic of the Marshall Islands arising out of insolvency proceedings of a subsidiary in the Cayman Islands.  As an associate, David helped brief and argue a successful motion to dismiss in the trial court and obtain an affirmance on appeal to the Supreme Court of the Marshall Islands.  (Highland Floating Rate Opportunities Fund v. DryShips Inc.)
  • Major Alternative Investment Manager and Portfolio Companies.  Part of the team advising one of the world’s largest alternative investment management companies and many of its portfolio companies on secured and unsecured claims and potential claims against counterparties entering bankruptcy around the country, including in the chapter 11 cases for WeWork Inc. and its affiliates in the Bankruptcy Court for the District of New Jersey and in the chapter 11 cases for Peer Street, Inc. and its affiliates in the Bankruptcy Court for the District of Delaware.  The team investigates new bankruptcy petitions and potential claims, prepares and submits claims, and monitors pending claims to ensure that the clients’ interests are fully protected.

  
  Contract Disputes

  David has deep experience litigating breach of contract actions stemming from complex transactions in various industries, including syndicated loan trades, bankruptcy claim sales, and manufacturing supply agreements.  For example:

  • Manufacturing Company Facing $80+ Million Breach of Contract Action.  Defended large privately held manufacturing company against breach of contract and fraud claims arising out long-term supply agreement for industrial gases.  David helped craft an aggressive expert discovery strategy that turned the tables on the plaintiff and lead the way to a favorable settlement just one week before trial.  (Airgas USA, LLC v. Hemlock Semiconductor, L.L.C.)
  • Institutional Brokerage Enforcing Multi-Million Dollar Loan Trade.  Represented the distressed trading business of a major banking institution in bringing litigation to enforce a sale of term loans after the counterparty attempted to abandon the trade.  David developed an aggressive discovery strategy and took and defended all depositions, leading to a favorable mid-discovery settlement.  (Jefferies Leveraged Credit Products, LLC v. TerraMar Capital, LLC)
  • Institutional Brokerage Enforcing Multi-Million Dollar Bankruptcy Claim Trade.  Representing the distressed trading business of a major banking institution in bringing litigation to enforce a sale of bankruptcy claims after the counterparty attempted to abandon the trade.  David is leading the charge as the case proceeds through initial dispositive motion briefing and discovery.  (Jefferies Leveraged Credit Products, LLC v. Invictus Special Situations I GP, LLC)
  • Financial Services Company Enforcing Repurchase of $200+ Million of Bankruptcy Claims.  Represented the purchaser of $200+ million in bankruptcy claims in an action to enforce the seller's repurchase obligation following partial disallowance of the claims.  David devised a discovery strategy that avoided deposition discovery, leading to favorable settlement one business day before the start of trial.  (Citigroup Financial Products Inc. v. Plansee SE)
  • Financial Services Company Enforcing Repurchase of $17+ Million of Bankruptcy Claims.  Represented the purchase of $17+ million in bankruptcy claims in an action to enforce the seller's repurchase obligation following assertion of a preference action against the claims.  David prepared pleadings and motions to obtain a default judgment against the seller without the need for any discovery.  (Citigroup Financial Products Inc. v. Tera Xtal Technology Corp.)

  
  Securities Litigation

  David has litigated securities fraud and other claims involving common stock as well as complex securities products.  For example:

  • International Shipping Company in Stock Drop Suit.  Defending an international shipping company against a putative securities fraud class action in federal court in New York arising out of a series of private financing transactions.  The case is stayed pending resolution of Defendants' motions to dismiss.  (Silverberg v. DryShips, Inc.)
  • Issuers of Residential Mortgage-Backed Securities.  Defending sponsors and underwriters of residential mortgage-backed securities against securities fraud actions brought by institutional investors, securitization trustees, and the federal government in federal and state courts across the United States.  (Various)

  
  Other Trial and Appellate Experience

  • Intellectual Property.  Litigating trademark infringement claims through jury trial on liability and bench trial on remedies.  David presented a senior executive of the company and an expert witness on damages calculations on direct and cross-examined the opponent's damages expert witness.  The case is currently on appeal.
  • Regulatory and Consumer Class Actions.  Part of the team representing the defendant in a consumer class action jury trial and in the remedies component of regulatory enforcement action bench trial under the Telephone Consume Protection Act.
  • Public Participation Appeal.  Briefed and argued an appeal to the Nebraska Supreme Court to enforce public participation requirement in state administrative procedure act for rulemaking on prison death penalty procedures.