The following is an excerpt from Twin Cities Business. Yale Galanter successfully defended and won the following case. This case was awarded the largest damage award ever in a case involving the filing of an improper bankruptcy petition.
Author: Christa Meland
Report: U.S. Bank Ensnared in Florida Bankruptcy Dispute
Businessman Maury Rosenberg, who won a $6.1 million jury award, claims that U.S. Bank is using involuntary bankruptcy as a collection tool, which is illegal; the bank, meanwhile, claims it hasn’t done anything wrong and is appropriately pursuing a litigious businessman who owes money.
A Miami businessman has won a $6.1 million jury award after the jury determined that Minneapolis-based U.S. Bank and its equipment finance arm acted in bad faith by pushing him into involuntary bankruptcy, according to a Star Tribune report.
The verdicts, filed in U.S. District Court in Miami, include $5 million in punitive damages and $1.1 million for such things as emotional distress. Lawyers for the businessman, Maury Rosenberg, reportedly claim the punitive damages are the largest in history for such a case.
Click here to read full article (opens new link to source)