Jones Day, New York, NY
Jay Tambe advises clients on litigation concerning securities, derivatives, and other financial products including credit default swaps and collateralized debt obligations. Jay also is experienced in class action litigation under the federal securities laws and often represents non-U.S. issuers. In derivatives and CDO litigation, he has frequently dealt with cross-border issues and is well versed in navigating international discovery and judgment enforcement. He has broad commercial litigation experience under federal and state consumer protection and financial disclosure statutes and the federal antiracketeering laws.
Jay has successfully obtained dismissal of claims involving CDOs in the New York state and federal courts. See SNS Bank N.A. v. Citibank, et al., No. 601989/02, slip op. (Sup. Ct. N.Y. Cty. July 31, 2003), aff'd 7 A.D.3d 352 (1st Dept. 2004); see also Banco Espirito Santo de Investimento v. Citibank, 2003 WL 23018888 (S.D.N.Y. Dec. 23, 2003), aff'd 110 F. Appx. 191 (2d Cir. Oct. 6, 2004). He is currently representing Financial Guaranty Insurance Company (FGIC) in a $1.875 billion claim against IKB AG, a distressed German bank, and is defending The Royal Bank of Scotland and HBK Investments in two separate CDO litigations.
Jay is co-leader of the Firm's Financial Institutions Litigation & Regulation Practice. He routinely provides prelitigation advice on documentation and risk mitigation concerning CDOs, swaps, and other derivatives. Well before the current credit crisis, Jay advised clients about the risks of CDO litigation and worked with them to review documentation and mitigate litigation risks. Jay is a frequent speaker on CDO and derivatives litigation topics.