"Life in the Doldrums Continues for Civil Litigators," The National Law Journal

Peter Haveles, Co-Chair of the Complex Commercial Litigation Department, is quoted in the article “Life in the Doldrums Continues for Civil Litigators,” which appeared in The National Law Journal on March 15, 2010.  The article analyses the decline of recoveries in commercial litigation in 2009, based on an examination of VerdictSearch’s Top 100 Verdicts of 2009.  Mr. Haveles commented that recoveries were lower due to corporate clients controlling costs by waiting to file suits.  “They likely will continue do so through the first half of 2010,” said Mr. Haveles.  “Part of it is deferring activity and not necessarily commencing a lawsuit if you can sue now or a year from now.”

Additionally, Mr. Haveles expects lawsuits emanating from commercial loan defaults to present a principal area of commercial litigation this year.  “You’ll see the lenders suing the borrowers and the guarantors to enforce their loans and recapture the property,” he said.  “That’s not going to change until you see an improvement in real estate values and a lending market where people can refinance and deal with loans coming due.”