A GLOBAL FINANCIAL SYSTEM REQUIRES A GLOBAL NETWORK OF SOPHISTICATED LITIGATION COUNSEL
The Creation of the International Financial Litigation Network
The international financial crisis and recent cases that have involved simultaneous proceedings in multiple court systems around the world have highlighted the need for coordination among courts and lawyers that deal with cross-border litigation to ensure the fair and efficient administration of justice.
Responding to this need, more than 40 law firms in 20 countries have formed The International Financial Litigation Network (the “Network”) to provide the experience, resources, communication and know-how to effectively apply and maximize the use of collaborative tools in complex cases.
From left to right: Stacy Slaughter, Robins Kaplan LLP (EEUU); Patrick Haas, AKD (Netherlands); Sam Roberts, Cooke Young & Keidan (UK); Philip Rubens, Teacher Stern LLP (UK); Jeffrey Kleywegt, AKD (Netherlands); Larry Sucharow, Labaton Sucharow LLP (EEUU); Armin Mayerhofer; Breiteneder Rechtsanwalt GmbH (Austria); Christina Pilz, Breiteneder Rechtsanwalt GmbH (Austria); Diego Solana, Cremades & Calvo-Sotelo (Spain) Tina Philipp-Rampa, Breiteneder Rechtsanwalt GmbH (Austria); Eric Breiteneder, Breiteneder Rechtsanwalt GmbH (Austria); Stephen Elam, Cooke, Young & Keidan (UK)
On September 13th to 15th in Vienna took place the International Financial Litigation Network´s (IFLN) General Meeting. For one more year, this event brought together international lawyers and litigators from Europe and America to review and discuss about regulatory changes that may protect investors and will improve the performance of international financial markets. Diego Solana, partner of Cremades and Calvo-Sotelo, intervened in the meeting and exposed the current issues regarding Banco Popular case, and mentioned the legal actions and procedures that his law firm is working on behalf of thousand of shareholders and stakeholders, before the European and Spanish judicial authorities.
“Meeting in Madrid of the International Financial Litigation Network, Euro Latam Lex (ELLEX) and the World Jurist Association. Representatives of the three international networks of attorneys strengthened links and exchanged views about the current situation of international law and its implementation in different countries. The three international networks collaborate in the organization of the Congress under the title “Civic Capitalism: Towards a new relation with the investor” that will take place in Madrid on November 17-18, 2016, and are already working in a new Congress for 2017”
From left to right: Diego Solana, General Director of the International Financial Litigation Network and Euro Latam Lex (ELLEX) and Partner of Cremades & Calvo-Sotelo; Ramon Soler Padró, Executive Vice President of the World Jurist Association; Jacinto Soler Padró, Spanish National President of the World Jurist Association; Jose Dominguez, Senior International Counsel from Cremades & Calvo-Sotelo, Franklin Hoet, World Iuris Association President.
Securities fraud cases generally operate as "opt-out" class actions in the majority of Canadian jurisdictions, some of the very few places outside the United States where this is so...
On November 18th, 2015, the members of the International Financial Litigation Network gather in London to discuss and exchange information about the recent most relevant international cases. The English law firm COOKE, YOUNG & KEIDAN LLP hosted the event. Please click on to check the agenda of the meeting.
The Supreme Court has agreed to reassess a 25-year-old decision that is instrumental to investors' ability to bring securities fraud class actions, opening the door to major changes in the nature and scope of future shareholder lawsuits...
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The official launch and the adoption of the Constitution of the International Financial Litigation Network occurred on May 22, 2013 in New York City and on May 23, 2013 in Washington, D.C.
Headquartered in New York, the International Financial Litigation Network will also have a strong presence in Europe, with its General Secretariat located in the offices of Cremades & Calvo-Sotelo in Madrid.
Working with Cremades in the new organization will be vice chairmen Iacopo Destri (C-Lex Studio Legale) of Italy; Paul Kennedy (Dillon Eustace) of Ireland and the Cayman Islands; and Glen DeValerio (Berman DeValerio), Paul Sarkozi (Tannenbaum Helpern Syracuse & Hirschtritt, LLP) and.Lawrence Sucharow (Labaton Sucharow), all of the United States. James Duffy, of Berg & Duffy (U.S.) was appointed secretary.
As its first order of business, the International Network issued a declaration calling for the need to improve the legal security of financial markets, introduce best practices and promote collaboration of regulators – measures the founding members believe are needed to effectively promote their clients’ interests.
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