Launched in May 2013, the International Financial Litigation Network (IFLN) was founded by more than 20 law firms, including Tannenbaum Helpern. The mission of the network, which presently spans 16 countries, is to improve cross-border solutions for financial institutions, funds and individuals involved in financial disputes by promoting collaboration among lawyers and court systems and by facilitating cost-effective resolutions.
One goal is to avoid duplicative court proceedings and inconsistent judgments. The network is also designed to help attorneys better serve their clients in financial matters by identifying sophisticated and experienced counsel in other jurisdictions to ensure quality advocacy.
“The borderless nature of today’s business, the global reach of the financial crisis and the overlapping jurisdictions of courts resolving financial disputes have raised the demand for improved international coordination among courts and lawyers. As a Vice Chairman of the IFLN, I plan to work with law firms and clients around the world to ensure quality representation – both for plaintiffs and defendants,” says Paul D Sarkozi, a partner in Tannenbaum Helpern’s Litigation and Dispute Resolution practice. Paul is a member of the NY State Commercial Division Advisory Council, vice chair of the NY State Bar’s Commercial and Federal Litigation Section and is recognised as one of the top 100 Super Lawyers in NY Metro in 2012 by Super Lawyers. “I am excited to join forces with talented attorneys around the world to share and develop best practices to address the complexity of global financial litigation,” he added.
“The financial services community has recently witnessed a number of regulatory developments in the US and Europe. We often assist non-US counsel in matters of US law for their clients and the network is a natural outgrowth of that focus. As those clients transact business outside their backyards, they must be cognizant of the host country’s regulation as well as the regulation at home. It’s crucial to have a network of sophisticated attorneys to share best practices, provide insight into local legal developments and ensure quality advocacy – bringing transparency to the global financial litigation landscape,” says Michael G Tannenbaum, a founding member of Tannenbaum Helpern, chair of the firm’s Financial Services, Private Funds and Capital Markets practice and a member of the International Who’s Who of Business Lawyers.
Michael’s practice was recognised by Hedgeweek as the 2013 Best North American Law Firm serving the financial services community.