Liddle & Robinson Attorneys at Law New York City

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Lazard Freres & Co. et al v. First National Bank of Maryland - 1/13/2000

Case Summary: Our firm served as co-trial counsel in representing First National Bank of Maryland in this lawsuit over a whether the plaintiff, Lazard Freres, was entitled to a residual fee in a leveraged lease transaction. Lazard brokered a leasing transaction under which four investors, including the First National Bank of Maryland, purchased a Boeing 747 and simultaneously leased the airplane to Philippine Airlines. Following a trial, the New York State Supreme Court dismissed Lazard's claims, primarily because the court accepted the bank's defense that no residual fee agreement had ever been negotiated. Lazard appealed, and the Appellate Division, First Department, upheld the lower court's dismissal of its claims.

Blaine H. Bortnick

Judge: Charles E. Ramos

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