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Reid Collins & Tsai LLP
No. of offices4
OfficesNew York City, Austin, Dallas, Washington D.C.[1]
No. of attorneys29 (2018)[2]
Major practice areasbusiness litigation, insolvency
Key peopleWilliam T. Reid, IV, P. Jason Collins, Lisa S. Tsai, Eric D. Madden
Date foundedNovember 23, 2009
Company typeLimited liability partnership
Websiterctlegal.com

Reid Collins & Tsai LLP is a US law firm established in 2009 with offices in New York City, Austin, Dallas and Washington, D.C.. The firm represents plaintiffs in business disputes on a mixed-fee[3] or contingency-fee basis.[4]

Practice areas

Key practice areas include financial fraud, insolvency cases, professional liability, fiduciary litigation, mediation[5] and whistleblower actions.[4][6][7]

History

The firm was founded in November 2009 in Austin with 9 lawyers who had previously worked at Latham & Watkins,[3] Diamond McCarthy[8] and the U.S. Department of Justice[3] with William T. Reid, IV, P. Jason Collins, and Lisa S. Tsai serving as founding partners. Among their first cases were the bankruptcies of Stanford International Bank,[9] Thelen LLP[10] and Cornerstone Ministries Investments.[11] By the end of 2010, the company had 15 lawyers.[4] In 2013, the firm opened a Dallas office with Eric Madden[1] and J. Benjamin King as bankruptcy litigation partners,[12][13] joined later by Brandon V. Lewis.[14] In October 2014 Dallas office moved to Thanksgiving Tower building.[15][16]

In October 2011, RCT partner Marina Marmolejo was appointed as a federal judge of the United States District Court for the Southern District of Texas.[17]

Notable cases

  • In 2012, Reid Collins & Tsai filed a US$100 million lawsuit against singer Shakira on behalf of her ex-boyfriend and former business partner Antonio de la Rua in the New York Supreme Court, seeking to "recover damages" for breach of contract and fiduciary duty.[18][19] The company made similar claims against Shakira in Los Angeles, Switzerland, and the Cayman Islands. All of the lawsuits were ultimately unsuccessful.[20]
  • In 2012, the firm handled several cases for one of their early clients, Highland Financial Partners, settling an alleged "legal malpractice/negligence" suit against Orrick, Herrington & Sutcliffe.[21][22]
  • In December 2013, the firm filed an $80 million claim against DLA Piper on behalf of its liquidators, claiming the firm helped two associated funds misappropriate millions of dollars[23] (in 2015 the judge dismissed the lawsuit).[24]
  • In 2014, the firm represented Plaintiff Claymore Holdings, LLC, as the assignee of the claims of investment funds managed by Highland Capital Management, LP, in a fraudulent inducement and breach of contract lawsuit against global investment bank Credit Suisse (Claymore Holdings, LLC vs. Credit Suisse AG, et al., Cause No. DC-13-07858, the 134th Judicial District Court of Dallas County, Texas). Following a three-week bench trial, the trial court found that Credit Suisse had breached its contractual obligations, and entered a judgment against it for $287.5 million.[25][26][27] The firm also filed a $1.15 billion suit against Citigroup, Bank of America, Goldman Sachs on behalf of relator Integra REC (largest financial fraud case ever brought by the state of Virginia (Case No. CL14-399)[28] resulting in a 2016 $63 million settlement to be paid to the state).[29] The company also resolved claims of corporate mismanagement filed by the former Astrotech Corporation's CFO John Porter against the CEO Thomas Pickens III[30][31] and settled a clawback action for $32.2 million on behalf of Dreier LLP post-confirmation plan administrator.[32][33][34]
  • In February 2015, the firm represented Tibanne Ltd, the parent company of Mt. Gox, bitcoin exchange when the company filed for bankruptcy protection seeking shelter from U.S. lawsuits (Case No. 15-10255-mkv).[35]

References

  1. ^ a b Council, John (2015-06-01). "Reid, Collins & Tsai Flourishing With Contingency Fees". law.com. Retrieved 2017-12-09.(subscription required)
  2. ^ "Reid Collins & Tsai LLP". Chambers and Partners. 2018. Archived from the original on August 20, 2018. Retrieved August 20, 2018.
  3. ^ a b c Zoe Tillman (2016-02-08). "Reid Collins & Tsai". The National Law Journal. Retrieved 2017-12-09.(subscription required)
  4. ^ a b c Katrina Dewey (2016-12-04). "Lawyer Limelight: William "Bill" T. Reid IV and Lisa S. Tsai". lawdragon.com. Archived from the original on 2017-09-23. Retrieved 2017-12-09.
  5. ^ Diane Davis (2016-04-20). "Mediation Plays Increasing Role in Bankruptcy Cases". Bankruptcy Law Reporter. Bloomberg BNA. Archived from the original on 2016-07-27. Retrieved 2017-12-09. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  6. ^ Brenda Sapino Jeffreys (2016-12-15). "Plaintiffs Firm Touts Texas-Sized Bonuses to Top Cravath". law.com. Retrieved 2017-12-09.(subscription required)
  7. ^ "Small Size, Big Cases: The 2016 Litigation Boutiques Hot List". The National Law Journal. 2016-02-08. Retrieved 2017-12-09.(subscription required)
  8. ^ Jacob Dirr (2009-12-20). "Eight Diamond McCarthy lawyers defect to start new firm". Austin Business Journal. Archived from the original on 2017-12-08. Retrieved 2017-12-08. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  9. ^ "In re Stanford International Bank Ltd. Debtor in a Foreign Proceeding". Law360. Archived from the original on 2017-12-09. Retrieved 2017-12-09.
  10. ^ Triedman, Julie (2014-11-21). "Key Ruling Brings Thelen Bankruptcy Closer to Conclusion". The American Lawyer. Retrieved 2017-12-09.(subscription required)
  11. ^ Williams, Bob (2011-03-15). "Unfinished Business for the Presbyterian Church in America (PCA)". christianobserver.org. Archived from the original on 2016-08-16. Retrieved 2017-12-09.
  12. ^ Jess Krochtengel (2013-08-27). "Reid Collins Opens Dallas Office With Diamond McCarthy Hires". Law360. Archived from the original on 2017-12-09. Retrieved 2017-12-09.(subscription required)
  13. ^ Andrew Mizner (2013-08-30). "Texas firm doubles down". cdr-news.com. Archived from the original on 2017-12-09. Retrieved 2017-12-09.(subscription required)
  14. ^ "Lawyers on the move". Texas Bar Journal. 77 (3): 283. 2015-05-21. Archived from the original on 2015-09-13. Retrieved 2017-12-08. {{cite journal}}: Unknown parameter |dead-url= ignored (|url-status= suggested) (help)
  15. ^ Steve Brown. "Downtown Dallas' Thanksgiving Tower lands several new office tenants". The Dallas Morning News. Archived from the original on 2017-12-22. Retrieved 2017-12-22. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  16. ^ Candace Carlisle (2014-10-17). "Sneak Peek: Thanksgiving Tower Renovation". Dallas Business Journal. Archived from the original on 2015-03-03. Retrieved 2017-12-22. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  17. ^ Martin, Gary (2010-07-28). "Obama names Laredo lawyer to federal judge post". Houston Chronicle. Archived from the original on 2012-10-24. Retrieved 2017-12-09.
  18. ^ Cobo, Leila (1 December 2012). "Shakira Hit With $100 Million Lawsuit by Ex-Boyfriend". Billboard. Retrieved 1 July 2018.
  19. ^ "Shakira's ex-boyfriend files $100 million lawsuit against singer". CBS News. 4 December 2012. Retrieved 1 July 2018.
  20. ^ Associated Press (8 February 2013). "Court Dismisses Shakira Lawsuit Filed By Ex-Boyfriend". Billboard. Retrieved 1 July 2018.
  21. ^ Margaret Taylor (2012-01-30). "Highland Financial hits Orrick with $95m claim as RBS case continues". The Lawyer. Archived from the original on 2017-12-10. Retrieved 2017-12-10.(subscription required)
  22. ^ Jess Krochtengel (2012-11-30). "Orrick Resolves $95M Malpractice Claims Over CDO Deal". Law360. Archived from the original on 2016-03-17. Retrieved 2017-12-10. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)(subscription required)
  23. ^ Christine Simmons (2013-12-13). "Liquidators of Investment Funds Sue DLA Piper". New York Law Journal. Retrieved 2017-12-11.(subscription required)
  24. ^ Christine Simmons (2015-09-17). "Judge Dismisses Suit Against DLA Piper". New York Law Journal. Retrieved 2017-12-11.(subscription required)
  25. ^ Jess Krochtengel (2014-12-02). "Highland Entity Blames Credit Suisse For $285M Refi Loss". Law360. Archived from the original on 2015-09-11. Retrieved 2017-12-10.(subscription required)
  26. ^ Tom Hals (2014-12-19). "Jury faults Credit Suisse in Lake Las Vegas refinancing". Reuters. Archived from the original on 2017-12-09. Retrieved 2017-12-09.
  27. ^ Cronin Fisk, Margaret; Korosec, Tom (2015-09-05). "Credit Suisse Ordered to Pay Highland Capital $287.5 Million". Bloomberg News. Archived from the original on 2015-09-09. Retrieved 2017-12-09.(subscription required)
  28. ^ "Virginia Sues 13 Banks For $1.15 Billion Alleging Fraud". Financial Advisor. 2014-09-17. Retrieved 2017-12-09.
  29. ^ Dani Kass (2016-01-22). "11 Big Banks To Pay Va. $63M Over Alleged RMBS Fraud". Law360. Archived from the original on 2017-09-23. Retrieved 2017-12-09.(subscription required)
  30. ^ Melby, Caleb (2013-04-16). "Billionaire T. Boone Pickens Sues His Son, Alleging 'Cyberbullying'". Forbes. Archived from the original on 2013-04-18. Retrieved 2017-12-13.
  31. ^ Calnan, Christopher (2014-04-30). "Austin company settles mismanagement lawsuit filed by former CFO". Austin Business Journal. Archived from the original on 2014-05-31. Retrieved 2017-12-13.
  32. ^ Andrew Scurria (2014-10-15). "Dreier Investor Settles Ponzi Scheme Claims For $32M". Law360. Archived from the original on 2014-11-05. Retrieved 2017-12-13.(subscription required)
  33. ^ Sara Randazzo (2014-10-15). "With Settlement, Marc Dreier Is Off the Hook for Court Testimony". The Wall Street Journal. Archived from the original on 2014-10-18. Retrieved 2017-12-13. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)(subscription required)
  34. ^ "October 2014 Ponzi Scheme Roundup". American Bankruptcy Institute. Archived from the original on 2017-12-13. Retrieved 2017-12-13.
  35. ^ Rozens, Aleksandrs (2015-05-21). "Mt. Gox, Cointerra Top the List of Bitcoin Bankruptcy Filers by Liabilities" (PDF). Bloomberg Brief (Special Report: Bitcoin): 30. Archived from the original (PDF) on 2017-12-08. Retrieved 2017-12-08. {{cite journal}}: Cite has empty unknown parameter: |dead-url= (help)
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