Selendy Gay Elsberg PLLC > New York, United States > Firm Profile

Selendy Gay Elsberg PLLC
1290 AVENUE OF THE AMERICAS
NEW YORK, NY 10104
United States

Dispute resolution > Securities litigation: plaintiff Tier 2

Selendy Gay Elsberg PLLC, which changed its name from Selendy & Gay in 2022, has a securities and structured finance group based in New York that has amassed significant expertise in the financial services sector. The firm has in-depth understanding of structured finance and related insurance matters, including mortgage-backed obligations, synthetic and asset-backed collateralized debt obligations, credit default swaps, credit-linked notes, financial guaranty insurance, reinsurance, and other complex financial structures. As counsel to plaintiffs, the firm has secured recoveries from numerous investment banks, and ongoing work includes a case for MBIA & National Public Finance Group, representing the client in holding major Wall Street banks accountable for inequitable conduct that contributed to Puerto Rico’s economic collapse. Lead partner Philippe Selendy is currently acting for classes of investors in multiple digital tokens and other crypto-assets against crypto-asset exchanges. Andrew Dunlap and Sean Baldwin also play key roles in the practice.

Practice head(s):

Philippe Selendy

Other key lawyers:

Key clients

Proposed class of cryptocurrency investors

Cerberus Capital Management

Classes of investors in multiple digital tokens and other crypto-assets

MBIA & National Public Finance Group

U.S. Bank

Christofferson Robb & Co.

Investigative Committee Composed of Independent Board Members of WeWork

Computershare

Fortis Property Group

Fortis Advisors

Kingate Funds

Bersin

Fortress Investment Group LLC and DBD AMAC LLC

AMERRA Capital Management

Work highlights

  • Representing a proposed class of cryptocurrency investors alleging that the controllers of the cryptocurrency exchange Bitfinex falsely represented that their purportedly “stable” cryptocurrency Tether was backed by U.S. Dollars in order to control the price of Bitcoin and other cryptocurrencies in an elaborate market-manipulation scheme that cost investors hundreds of billions of dollars.
  • Representing National Public Finance Guarantee and MBIA Insurance Corporation, a monoline insurer, in a lawsuit to hold major Wall Street banks accountable for inequitable conduct that contributed to Puerto Rico’s economic collapse.
  • Representing Cerberus Capital Management, L.P., a private equity firm with more than US$40bn under management, as plaintiff in a US$950m breach of contract action against the Canadian Imperial Bank of Commerce, (“CIBC”) one of Canada’s largest banks.

Dispute resolution > General commercial disputes Tier 3

Selendy Gay Elsberg PLLC is a go-to counsel in New York for defendants and plaintiffs alike. It is recognised for its expertise in a variety of disputes, often relating to contracts, fraud, unfair competition, antitrust, RICO, class actions, securities and structured financial instruments, as well as corporate governance, trade secrets, and insolvency-related disputes. The client portfolio includes names from the manufacturing, real estate, energy, consumer products and pharmaceuticals industries. More recently cryptocurrency players seek out the practice. Faith Gay combines commercial litigation, government investigations and white-collar experience. Jennifer Selendy is regularly engaged by major technology companies and financial institutions. She leads the practice together with the experienced David Elsberg. Lena Konanova is another key contact.

Practice head(s):

David Elsberg; Jennifer Selendy

Other key lawyers:

Key clients

American Federation of Teachers

Cerberus Capital Management

Christofferson Robb & Co.

AMERRA Capital Management

MBIA and National Public Finance Corp.

Matthew Script, Benjamin Leibowitz, Jason Leibowitz, Aaron Leibowitz, and Pinchas Goldshtein

McKinsey & Company

Kenneth Krys and Greig Mitchell as Joint Liquidators for three BVI funds: Fairfield Sentry Limited; Fairfield Sigma Limited; Fairfield Lambda Limited

Kingate Funds

Nexstar Broadcasting, Inc.

Investigative Committee Composed of Independent Board Members of WeWork

US Bank

Amsterdam Avenue Redevelopment Associates

Fortis Property Group

Fortis Advisors

Work highlights

  • Represented the American Federation of Teachers, President Randi Weingarten and eight individual AFT member plaintiffs in reaching a settlement with the US Department of Education following the prior administration’s failure to properly implement the Public Service Loan Forgiveness program (PSLF).
  • Representing a proposed class of cryptocurrency investors in a mahor bitcoin market manipulation case against Bitfinex and Tether.
  • Representing National Public Finance Guarantee and MBIA Insurance Corporation in a lawsuit to hold eight major Wall Street banks accountable for inequitable conduct that contributed to Puerto Rico’s economic collapse.

Dispute resolution > Appellate: courts of appeals / Appellate: supreme courts (states and federal) Tier 4

Selendy Gay Elsberg PLLC‘s New York-based practice covers a broad scope of appellate work, with its recent cases spanning insurance, construction, financial services and securities, among other matters. Department chair Caitlin Halligan, a former Solicitor General for the State of New York, has argued six cases before the US Supreme Court, as well as handling cases in the federal and state appellate courts. Halligan recently represented AIG subsidiary National Union Fire Insurance Company of Pittsburgh in an insurance-related matter before the New York Court of Appeals. Other key contacts include Philippe Selendy and Sean Baldwin.

Practice head(s):

Other key lawyers:

Key clients

National Union Fire Insurance Company of Pittsburgh, PA

Cerberus Capital Management

U.S. Bank

Pfizer, Inc.

Amsterdam Avenue Redevelopment Associates

Kenneth Krys and Greig Mitchell as Joint Liquidators for three BVI funds: Fairfield Sentry Limited; Fairfield Sigma Limited; Fairfield Lambda Limited

Computershare

Mohammed Ali Rashid

New Hampshire Insurance Company

Work highlights

  • Represented National Union Fire Insurance Company of Pittsburgh before the New York Court of Appeals in a case discussing whether a $160m SEC disgorgement order issued against Bear Stearns constituted an insurable event.
  • Represented Cerberus Capital Management, as plaintiff, in a $950m breach of contract action against the Canadian Imperial Bank of Commerce.
  • Obtained a unanimous reversal from the Appellate Division, First Department of a trial court decision, which ordered client Amsterdam Avenue Redevelopment Associates to tear down numerous floors of its residential building at 200 Amsterdam Avenue.
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Selendy Gay Elsberg’s practice is dedicated to excellence in litigation and investigations. Our partners and associates are a team of the most accomplished, lauded, and creative lawyers in the profession. By re-thinking law firm structure, operations, and culture, we have also crafted an environment for our lawyers to serve our clients’ needs with focus and efficiency. Putting our clients first includes learning their businesses to advise proactively and to be ready if crisis strikes. It also means bringing a strongly led, tightly-coordinated combination of talent and resources to each of our client’s priorities. Through critical thinking and collaboration, we offer an unmatched plaintiffs’ practice combined with a premier defense practice.

Our partners have earned industry-leading reputations by winning trials of the highest stakes in nearly every type of complex commercial litigation, arbitration, and investigation. As plaintiffs’ counsel, we have pioneered claims, and even practice areas, that recovered over $45bn for clients while holding institutional giants accountable. As defense counsel, we have won bet-the-company cases that threatened the existence of our clients’ businesses and business models, vindicated individuals in aggressive white-collar prosecutions, and counseled clients successfully in fast-moving investigations. Because of our extensive experience, we excel at anticipating legal maneuvers and staying several moves ahead.

Central to our success is our willingness to take cases to trial, if necessary. We have tried dozens of cases to verdict in state and federal courts across the nation and arbitrated many cases through to award, often stepping in at the last minute to handle distressed cases at trial or on appeal. Our experience brings our clients better courtroom results and also better settlements, because our adversaries have no doubt of the courtroom threat we pose.

Number of Partners : 13
Total Number of Lawyers : 59
English