History & Focus
The Firm was formed in 1994. Then, as now, there were numerous over-the-counter (OTC) derivative users dealing with banks and in need of legal representation. Yet, the available outside counsel expertise was largely concentrated in a few, large New York and London law firms, often representing the interests of dealer-banks. Other outside counsel were justifiably leery of advising in this distinct and specific area if not experienced in the field, particularly if not licensed to practice New York or English law.
The Firm was established to meet the needs of these derivative users and their counsel.
The Firm concentrates its practice in the area of over-the-counter derivative transactions, including interest rate, currency, equity, credit and other swaps, options and related transactions.
Mr. Forster has been involved in many of the major derivative controversies to date, including serving as lead counsel to the Kingdom of Belgium Ministry of Finance in its option-pricing claim against Merrill Lynch and assisting Procter & Gamble in its landmark litigation against Bankers Trust.
The primary focus of the Firm's practice is to assist customers (sometimes referred to as "end-users" or the "buy-side") who have a dispute with a bank OTC derivative dealer. Often, but not always, the dispute involves an over-the-counter option where the pricing and risk can be particularly difficult for the customer to measure and evaluate.
Additionally, the Firm represents a limited number of clients in negotiating the documentation for new derivative transactions.