Bruce Grace is an experienced commercial litigator whose practice currently focuses on representing asset managers and foreign financial institutions in bringing fraud cases arising out of the subprime debacle of 2007. Mr. Grace has argued numerous appeals in the intermediate appellate and highest court of New York. He successfully defended on appeal a favorable trial court ruling in a suit against Goldman Sachs. The resulting appellate decision is widely cited on issues of fraud and collateralized debt obligations. Previously, he represented a Saudi Arabian family conglomerate in a suit filed in New York by a bank located in the U.A.E.
Mr. Grace also has extensive experience in insurance and reinsurance matters, the majority of which involved Lloyd’s and Companies in the London Market. These matters include both litigation and confidential arbitration. He has acted as an expert witness on U.S. insurance coverage law in a matter pending in the U.K. courts. As a corollary to his litigation practice, Mr. Grace has been an active proponent of alternate dispute resolution methods. He has successfully resolved a number of large claims through private settlements and mediation. The mediations have included several international and complex multi-party settlements.
Over a period of several years, Mr. Grace represented a French pharmaceutical company in a variety of IP disputes, including bringing an action for theft of trade secrets concerning a drug delivery technology. He has provided strategic counseling on the Hatch Waxman Act, provided advice regarding licensing agreements for a variety of pharmaceutical products, and pursued a major antitrust claim against a pharmaceutical company, which resulted in a successful settlement.
- Law Clerk to the Honorable Laurence H. Silberman, U.S. Court of Appeals for the District of Columbia Circuit
- Represents a CDO investor in a suit against the collateral manager of the CDO.
- Represents a Japanese bank in a CDO fraud suit against a New York investment bank.
- Represents a CDO investor in a CDO suit against Goldman Sachs.
- Represented insurers in coverage litigation in West Virginia brought by a large coal mining company.
- Numerous representations of reinsurers and cedents in the defense of asbestos, pollution, environmental liability, health hazard claims, advertising liability, sexual abuse, and antitrust coverage cases.
- Represented London Market Reinsurers on numerous matters that span multiple subject areas. He has provided counseling on reinsurance issues arising out of the massive Andina Coffee fraud, claims made under workers compensation carve out policies, claims under Directors and Officers policies, including Enron claims, and sexual harassment claims.
- Represented London Market Reinsurers in litigation involving one of the largest insolvency proceedings in the U.S.
- Numerous representations of both London and domestic insurance companies on a number of difficult and unique matters arising out of mass torts. For example, he negotiated an agreement allocating latex glove defense costs among a variety of both claims-made and occurrence policies. He successfully pursued contribution rights in the U.S. against a U.K. carrier under a non-U.S. insurance contract.
- Advised a reinsurer in respect of claims arising out of loss settlements for clergy sexual abuse claims.
- Represented professional liability insurers in a coverage dispute where he obtained a ruling in the District of Columbia Court of Appeals that fee forfeiture awards do not fall within the scope of professional liability policies.
Publications & Events
- October 2014
- August 16, 2012
- "The Reinsurance Documentation Requirements - A Constructive Approach to the Current Asbestos Claims Crisis"
Bruce R. Grace, Mealey's Litigation Report: Reinsurance, Vol. 13, #16.December 12, 2002
In the News
- October 23, 2015
- Le Parisien, August 13, 2014
- Yahoo Finance France, August 13, 2014
- Societe Generale allegedly mis-sold financial products to Northern Rock that were partly to blame for UK bank's collapseThe Telegragh, August 13, 2014
- Law360, August 12, 2014
- January 30, 2014
- Columbia Law School (J.D. 1987), Kent Scholar and Articles and Book Review Editor, Columbia Law Review
- University of Chicago (A.B. 1979)
- District of Columbia
- New York
- U.S. Courts of Appeals for the Third, Ninth, and D.C. Circuits