Pioneer Uri Itkin Recognized by National Law Journal
In a groundbreaking move, Uri Itkin, a litigation partner at Gump Strauss Hauer & Feld LLP, has devised an unorthodox strategy to help an asset manager enforce claims against a fund issuer. This innovative approach, significant for credit investors seeking to enforce their rights, is designed to enhance accountability in the structured credit space.
Itkin's strategy ensures that issuers, managers, and other responsible parties can be held accountable, preventing them from hiding behind layers of bureaucracy. The strategy involves triggering certain contractual provisions to impose broader duties on the trustee and filing a trust instruction proceeding as a neutral party.
In a recent case, Itkin's strategy allowed the client to enforce the claimed violations in court. The trust instruction proceeding was filed as a neutral party by the trustee at Itkin's persuasion. This move set a precedent for how credit investors can use trust instruction proceedings to enforce their rights.
Itkin's work in this case has given clients a path to enforce their claims in court, a development that could have far-reaching implications for the structured credit industry. The strategy used by Itkin in this case is significant for credit investors seeking to enforce their rights without the delays and procedural hurdles associated with securities actions.
Uri Itkin, recognised as a Plaintiffs' Lawyers Trailblazer by The National Law Journal, has been making waves in the legal world. The NLJ Trailblazers series highlights legal professionals who are "agents of change" in their practice areas. In his published profile, Itkin discussed the work that made him a Trailblazer, emphasising the importance of innovative strategies in enforcing investors' rights.
Gump Strauss Hauer & Feld LLP is an international law firm with over 900 lawyers and advisors in offices worldwide. With Itkin leading the charge, the firm continues to push boundaries and set new standards in the legal industry.
