A retired senior justice of the Appellate Division of the New York Supreme Court and former Commercial Division Justice, Judge Crane has confronted complex securities litigations and appeals as a judge. In his earlier career he taught graduate courses in securities and securities regulation and practiced law in this field from his time of admission to the bar.
Judge Crane has had a substantial caseload in mediating, arbitrating and evaluating securities issues as a neutral since joining JAMS.
Representative Matters
- Adjudicated for the first time ever the application of the anti-fraud provisions of the New York Martin Act to insider trading
- Mediated claim against purchaser of sub-prime mortgage-backed portfolio for paying the wrong entity that later filed for bankruptcy
- Evaluated claim of valuation fraud in credit default swaps
- Arbitrated demand for bonuses withheld by investment bank when fixed income securities in synthetic collateralized debt obligations unit were found to be greatly overvalued
- Mediated claim of directors’ and officers’ liability for failing to plan for a controlled Chapter 11 rehabilitation
- Mediated claim against successful bidder in auction of portfolio of mortgage-backed securities for refusing to complete transaction
- Mediated transfer of fund securing letters of credit posted by trustee of lenders’ committee in bankruptcy proceeding to secure workers’ compensation insurers against future claims and liabilities
- Mediated numerous claims and defenses to claims in chapter 11 bankruptcy of investment bank involving valuations of termination payments for swaps and other forward contracts under ISDA forms
- Neutral evaluation of claim to profits by a non-registered broker who had attempted to secure investors for various ventures of a regulated securities entity
- Arbitrated claim of breach of contract to maintain an investment in start-up hedge fund specializing in long-short trading strategy
- Arbitrated claim against investment advisor for breach of stop loss and for unsuitable investments
- Arbitrated claims of asset securitization group members against bank for failing to make payments under a profit participation program when the bank discontinued this business
- Arbitrated claim to damages by special carry limited partners of certain private equity funds against their former employer-investment bank which resorted to offset against non-recourse debt owed by claimants in unrelated transactions
