Jason Jurgens concentrates his practice on civil litigation and regulatory investigations, principally involving the financial services industry, the financial markets and financial instruments, including matters concerning derivatives, commodities, futures, options, swaps, structured products, securities and various complex financial products, as well as the antitrust laws.
Capital Markets, Structured Finance and Contractual Disputes
Jason represents major financial institutions and market participants in connection with civil litigation arising out of structured finance arrangements and contractual disputes. Representative engagements include the following:
· Currently representing a swap counterparty in connection with a forbearance and optional termination agreement that is the subject of litigation in the Chapter 9 bankruptcy of the City of Detroit, as well as the swap counterparty's defense of related civil litigation successfully transferred from the United States District Court for the Southern District of New York to the Eastern District of Michigan.
· Currently representing a monoline insurer in connection with the Chapter 11 bankruptcy of ResCap and its affiliates, after representing the insurer in a four-year civil litigation against a ResCap affiliate to recover billions of dollars in losses arising out of financial guarantee insurance that it provided in connection with residential mortgage-backed securitizations.
· Currently representing a German asset manager in connection with its ongoing efforts to enforce rights and remedies arising from its municipal guaranteed investment contract ("GIC") portfolio.
· Represented an international banking institution in connection with a civil action seeking to recover $700 million in losses arising out of a warehouse facility, which was brought against the hedge fund sponsor of a contemplated CDO transaction, and its affiliates.
· Represented German banking institution in connection with bankruptcy claims arising out of its contractual rights under the terms of a contingent management agreement that it entered in connection with a Lehman Brothers' affiliate's swap portfolio.
· Represented German banking institution in connection with civil litigation arising out of a breach by a state housing agency of terms of GICs, involving the state agency's failure to withdraw funds from the relevant GIC accounts.
· Represented a bondholder in connection with a civil action brought to enjoin an issuer from redeeming bonds and selling a power generation facility that served as the underlying collateral for the bonds at issue.
Jason also works closely with the Firm's Capital Markets, Real Estate Finance, Financial Services and Corporate practice groups, providing advice to financial institutions, hedge funds, corporations and issuers regarding their rights and obligations in connection with complex contractual arrangements, including GICs, loan agreements, offering documents, indentures, collateral management agreements, servicing agreements, swap agreements, and BOLI contracts. In doing so, Jason counsels clients regarding the litigation risks inherent in contemplated transactions and business strategies, and provides guidance to clients on how to minimize or avoid such risks when they exist. Jason also negotiates resolutions to disputes arising out of such arrangements.
Criminal, Regulatory and Internal Investigations
Jason conducts internal investigations and compliance reviews for major financial institutions and corporate clients. He recently conducted an internal inquiry as part of a team providing regulatory advice to a financial institution regarding structured products that it sells to retail and institutional investors. Other representative investigatory experience and engagements include the following:
· Led an internal investigation for an international banking institution regarding the propriety of various transactions involving certain senior officers of the bank.
· Led investigation for a futures and options exchange related to the futures and options trading of one of its members, which was the subject of a parallel investigation by the Commodity Futures Trading Commission ("CFTC").
· Played lead role in an internal investigation for an international banking institution in connection with inquiries by the U.S. Securities and Exchange Commission ("SEC"), the CFTC, the New York State Attorney General's Office, and the NASD into the use of swaps to finance mutual fund market timing trades, as well as allegations of late trading.
· Played a lead supervisory role in connection with internal investigations and compliance reviews conducted for an oil services company investigated by the U.S. Department of Justice and the SEC under the Foreign Corrupt Practices Act.
· Negotiated resolution of SEC enforcement proceeding brought against Chapter 7 debtor that allegedly failed to comply with the Exchange Act's requirement to file certain periodic reports with the Commission.
In addition to representing financial institutions and other corporations, Jason counsels individual brokers and executives involved in regulatory investigations. Most recently, Jason played a key role in the white collar criminal defense and trial of a former CEO charged by the U.S. Attorney's Office for allegedly committing securities fraud through a finite reinsurance transaction. Prior to that, Jason counseled individuals involved in the U.S. Attorney's Office's investigations concerning back-dated stock options, a coffee futures broker accused of improper trading practices by the CFTC, an individual involved in the New York State Attorney General's Office's investigation into allegations of bid-rigging in the insurance industry, an individual targeted by the SEC for his role in clearing mutual fund transactions, and the former CEO of a retail chain accused of securities fraud arising out of his company's accounting practices.
The Commodity Futures Markets
Drawing upon his experience representing clients from across the financial services sector, including the futures industry, Jason frequently advises a major futures and options exchange and its clearinghouse affiliate. Jason played an integral role in the Exchange's successful defense of claims brought under the Commodity Exchange Act against the Exchange and its clearinghouse arising out of the collapse of a futures commission merchant. After helping to secure an affirmance before the U.S. Court of Appeals for the Second Circuit, Jason participated in merits briefing before the U.S. Supreme Court. The petitioner's appeal to the Supreme Court was subsequently dismissed following oral argument. More recently, Jason provided advice to the Exchange in connection with various member disputes arising out of trading in its futures and options markets for sugar, the bankruptcy of Lehman Brothers, as well as requests by parties seeking to become delivery points for the Exchange's cotton futures contracts.
Jason's prior experience with commodities, futures and options also includes the leading role that he played in engineering the successful defense of a civil enforcement proceeding brought by the CFTC against a corporation that bought and sold copper, and several executives who were accused of conspiring with Sumitomo to manipulate the copper futures markets.
Jason represented a major copper merchant and its executives in connection with civil actions brought under federal and state antitrust laws, including one action that was abandoned by the plaintiff after a 10-day evidentiary hearing concerning a former CFTC attorney's alleged misappropriation of confidential law enforcement information. Since that time, Jason has continued to work on antitrust matters. For example, Jason was part of a team that successfully defended an international financial institution against civil allegations that its short selling practices violated federal antitrust laws. Currently, Jason is representing affiliates of a Fortune 100 chemical company in connection with antitrust and RICO claims brought by the Republic of Iraq arising out of the alleged corruption of the U.N. oil-for-food program.
Jason received his J.D. from Columbia University's School of Law and a B.A. from New York University, with honors.
Jason is admitted to practice before the Courts of the State of New York, the U.S. Supreme Court, the U.S. Court of Appeals for the Second Circuit, the Fifth Circuit, the D.C. Circuit, and the U.S. District Courts for the Southern and Eastern Districts of New York. Jason also practices before the Commodity Futures Trading Commission and the Securities & Exchange Commission. He is a member of the Law and Compliance Division of the Futures Industry Association.