Of Counsel Larry W. Gabriel specializes in complex business and insolvency litigation. During his career, Mr. Gabriel has represented bankruptcy trustees, committees and numerous national companies and organizations, including, State Street Bank and Trust, Xerox Corporation, Bank of America, Imperial Bank, AARP, and the State of Alaska
Practice Emphasis
- Insolvency Representation
- Bankruptcy Litigation
- Complex General Litigation and Directors and Officers Claims
- General Commercial Bankruptcy Litigation
- Creditor’s Rights and Remedies
- Life Insurance Insolvencies
Qualifications/Memberships
- State Bars of California
- U.S. District Court
- Los Angeles County Bar Association
- Admitted to practice: Illinois (1974); California (1976)
- Admitted to practice: 5th, 7th, and 9th Circuits Courts of Appeal
- Admitted to practice: United States Supreme Court
Education
- De Paul University (J.D., 1974)
- Southern Illinois University (B.A., 1970)
Civil Activities
- Adjunct Professor (Business Law) College of the Desert (2005-2007).
- Member, City Council, City of Hidden Hills, California (1997-2002). Mayor Pro Tem (1998-2002).
- Representative, Las Virgenes Council of Governments (2000-2002); Planning Commissioner -City of Hidden Hills (1991-1993).
- Adjunct Professor of Law ( Banking) Pepperdine University (1987-1989)
- Judge Pro Tem, Beverly Hills Municipal Court (1982-1990)
- Board of Directors, Calabasas Country Club (President, 2004-5).
Publications and Speeches
- "The Impact of Recent Developments at Lloyd's - Insolvencies, Limited Liability, Changes in Membership By-Laws, Credit Risk Associated with Lloyd's Names on ‘Old Years’ Policies and Equitas, Lloyd's American Trust Funds - From the Perspective of U.S. Policyholders" American Bar Association International Insurance Law and Practice, May 5, 1995, London, England
- "Receivers' ERISA Fiduciary Responsibilities -- Fact or Fiction,"National Association of Insurance Commissioners ("NAIC"), The Society of Insurance Receivers Insolvency Workshop, February 6, 1995, Savannah, Georgia
- "1994 Receivers and Guaranty Funds in Life Insurance Insolvency Proceedings: The Need For Reform,"
- ABA National Institute; "Solvency Concerns With Foreign Insurers and Reinsurers/Recent Developments/US Reform Efforts,"
- 1994; "Pension Phantasmagoria,"
- Business Insurance, September 6, 1993
- "Ramifications of a Check Kite-Liability Between Banks," Pacific Banker and Business, March 1983
- "Check Kiting - The Implications of a Discovering Bank's Actions on Its Right of Recovery," Banking News, November 15, 1982
- Reprinted Independent Banker, January, 1983; "Ramifications of a Check Kite - Liability Between Banks,"
- Pacific Banker and Business, March, 1983
Representative matters:
- Currently special litigation counsel to Trustee in the matter, In re Mary Perkins, (a $30 million mortgage fraud investment scheme); special litigation counsel for the Trustee of Estate Financial Inc., (In re Estate Financial Inc.) prosecuting claims with damages in excess of $88 million.
- Lead Class Counsel in the matter, In re Quality Home Loans (a $60 million mortgage investment scheme) in claims against the company’s officers and directors
Represented the Official Borrowers Committee in the First Alliance Mortgage bankruptcy, and represented the Liquidating Trustee in a $400 million equitable subordination claim against Lehman Brothers, Inc., Henry v. Lehman Commercial Paper, Inc. 471 F.3d 977 (9th Cir. 2006) (a claim based upon “aiding and abetting” a mortgage fraud program).. - Represented the Examiner in the bankruptcy In re CenterStaging Musical Productions, Inc. ($2 million recovery against former officers and directors)
- Represented the Assignee for the Benefit of Creditors, in the matter, CMA v. Prevratil, (recovery in excess of$3 million)
- Represented the receiver in the matter, In re Norman David Stark/JPS Corporation, [131 Cal. App. 4th 184 (2005), cert denied Case No. S136969, Oct 19, 2005)], the first reported case involving the use of a receiver by a state agency involving a criminal business enterprise (Penal Code §186.11)
In re County of Orange
- Represented the Orange County Employees Association in obtaining Injunction against County preventing layoffs in violation of collective bargaining agreement.
State Life and Health Guaranty Fund Litigation:
- Texas Life, Accident, Health & Hospital Service Insurance Guaranty Association v. Gaylord Entertainment Company, et al. (1994-1996)
- Minnesota Life and Health Insurance Guaranty Association v. Xerox Corporation, etc., et al. (1994-1996)
- In the Matter of the Life and Health Guaranty Association Claim of BW/IP International, Inc. (1994-1996)
Life Insurance Insolvencies:
In Re Executive Life (1991-1998, 2005 - 2006)
- Represented Pension Plan Sponsors and Trustees (One Billion Dollars in contract claims) in the Executive Life Insurance Conservation proceedings.
State Street Bank and Trust v. Mutual of New York (1992)
United States District Court, Southern District of New York
- Represented State Street Bank in a suit against Mutual of New York for breach of contract and ERISA violations. The matter, tried before a jury, settled after completion of the trial on terms favorable to State Street.
In the Matter of the Rehabilitation of Mutual Benefit Life Insurance Company (1992-1994)
- Represented Pension Plan Sponsors and Trustees in the Mutual Benefit Life Insurance Company Conservation proceedings. Participated on the steering committee of "Pension GIC" contract holders.
American Bar Assoc. v. Equitable Life Assurance Society of American (1992)
- Represented the American Bar Association's Pension Plan in objecting to the demutualization of Equitable Life.
Significant General Litigation Matters:
The Travelers Insurance Co. v. Nyhart (1989) Montana Fifth Judicial District Court
- Defended Travelers Insurance Company in a $50 million lender liability claim brought by defendants in response to a foreclosure action instituted by Travelers. The matter was tried before a jury. Settled on appeal.
Challenge-Cook Bros. v. LCB Holdings, Inc. (1988)
United States District Court, Central District of California
- Represented CCB in breach of contract claim against LCB. Claim arose out of the failure of LCB to complete the acquisition of CCB. Judgment for CCB in excess of $5,000,000 plus award of attorneys fees.
F.D.I.C. v. John Van Dyke (1988)
- Represented president of failed bank in directors/officers litigation against former bank president, United States District Court, Central Dist. Of Calif.
F.D.I.C. v. Imperial Bank (1987)
United States District Court, Central Dist. of Calif.
- Defended Imperial Bank against $10,000,000 claim by F.D.I.C. Complaint alleged Bank was negligent in handling wire transfers causing the closure of a South Dakota bank. Defense verdict.
Sanwa Bank v. F.D.I.C. (1985)
United States District Court, Central District of California
- Represented Bank against FDIC in breach of contract action. Judgment for Bank - $5,000,000.
Imperial Bank v. Intermodal (and related cases) (1983)
- Prosecuted $23 million bank fraud action arising out of a check kiting scheme. The Bank sustained no loss as a result of the recoveries made from the litigation.
- Defended Bank in wrongful termination case filed by bank officer discharged as a result of his alleged participation in the scheme
- Defended Bank in wrongful death action in case brought by the estate of one of the participants in the fraud.