William D. Wallach

Consolidated Rail Corporation—Third circuit affirms dismissal of all claims in action challenging property sale

Represented Consolidated Rail Corporation in the United States District Court for the Eastern District of Pennsylvania in an action allegedly based upon an assignment of rights to challenge Conrail’s sale of property to a third-party. We successfully invoked the doctrine of champerty to obtain dismissal of the claim and this was affirmed by the United States Court of Appeals for the Third Circuit.

Commercial banks—Litigation over forged checks

Represented Fidelity Intern. Bank in Zambia Nat. Commercial Bank v. Fidelity Intern. Bank, and established comparative negligence of the plaintiff precluding recovery on a claim for forged checks. 

Consolidated Rail Corporation—Successful opposition to municipality’s effort to condemn railroad property

Represented Consolidated Rail Corporation in the Superior Court of New Jersey (Middlesex County, Chancery Division) in opposing the Borough of Carteret’s efforts to inspect and condemn railroad property by successful asserting preemption under federal law.

Consolidated Rail Corporation—Long-running litigation ends with dismissal of fraud related claims upheld on appeal

Represented Consolidated Rail Corporation in the Superior Court of New Jersey (Hudson County, Law Division) in defense of claims of fraud and misrepresentation arising from the sale of former railroad property in Jersey City, New Jersey. Bringing more than ten years of litigation arising from the sale to a conclusion, the Court rejected all of the claims and ruled in favor of Conrail. The ruling was then affirmed on appeal.

Industrial equipment manufacturer—Breach of joint venture agreement and related claims dismissed following four day trial

Represented Beumer Corporation and its officers in the Delaware Court of Chancery in response to lawsuit challenging actions of the majority owner of a joint venture, as well as calculation of earn-out payments. After a four day trial, the Vice-Chancellor rejected the $7 million plus claims for breach of fiduciary duty and breach of the Joint Venture Agreement. The Plaintiffs chose not to appeal.

Environmental technology company—Favorable verdict following trial to obtain involuntary disassociation of minority member

Represented PFT Technology LLC and its majority members in the Supreme Court of New York (Nassau County, Commercial Division) in an action commenced to obtain the involuntary disassociation of the minority member when the parties’ efforts to consensually agree upon terms of buy-out were unsuccessful. Following several days of trial, the Court rejected the breach of fiduciary duty claims, limited the advancement claim for fees, and then entered judgment affirming the involuntary disassociation at substantially the value arrived at by the clients’ valuation expert. 

State of New Jersey—Successful challenge of New York’s amended commuter tax

Represented The State of New Jersey in Quinn v. The State of New York in successfully obtaining the declaration of New York's Amended Commuter Tax as unconstitutional.

Shareholder—Successful challenge to majority shareholders’ conduct and award of legal fees upheld on appeal

Represented the plaintiff in the matter entitled Nagle v. Solberg, Superior Court of New Jersey (Hunterdon County, Chancery Division) where the client challenged the oppressive conduct of the majority shareholders and co-partners in connection with ownership and operation of a privately owned airport. The Chancery Judge ruled in favor of the client following ten days of trial and dismissed the Counterclaim in its entirety. On appeal, the decision was upheld by the New Jersey Appellate Division, including the 100% award of legal fees directed by the trial court.