Lomas Mortgage USA

The Firm represented the liquidating trustee of Lomas Financial Corporation and Lomas Mortgage USA bankruptcy estates in one of the largest financial collapses of the 1990s.

Lomas Financial Corporation and its affiliates were once among the largest commercial and residential mortgage lenders, holding more than $6 billion in assets. Following market downturns, Lomas filed for a second Chapter 11 bankruptcy in 1995 and multiple post-confirmation trusts were created to pursue claims from Lomas’s collapse.

Acting on behalf of those trusts in multiple related actions, the Firm pursued claims against former officers and directors, securing access to critical business records to advance breach of fiduciary duty claims, and ultimately obtaining a multi-million dollar settlement on behalf of the trustee.