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HOME | OUR PRACTICE | LIABILITY SHIFTING
Fognani & Faught has a core group of clients, some of which have been clients of the founding partners for over ten years. During this time, unique issues have arisen and confronted these clients. In response, the Firm has developed valuable and time-saving strategies which can be utilized by other corporations facing similar difficulties. This experience is particularly significant to those enterprises which have long histories of acquisitions and divestitures that have created significant tail liabilities unrelated to current operations and that continue to drain on available cash flow. For example, the Firm has devised and implemented methods to bring off-balance sheet assets to bear to address, dilute and ultimately eliminate the liabilities. These methods have been successfully used by the Firm in acquisitions and divestitures of major clients as part of the due diligence efforts.
The Firm has also devised strategies to shift liability arising out of environmental and natural resources damages claims by pursuing cost recovery actions, citizen suits, common law and insurance coverage suits and liability avoidance efforts. The liability management strategies are complemented by extensive experience litigating cases under various federal and state laws, including RCRA, CERCLA and the Clean Water Act.
Fraud Prosecution/Defense and Minority Shareholder Rights
The Firm has both defended and prosecuted complex fraud claims. It has successfully litigated cases involving RICO claims as well as claims filed under the False Claims Act, one of which alleged fraud against the United States. In another matter, the Firm was instrumental in exposing the fraud that had been perpetrated against the United States and its citizens by the Environmental Chemical Corporation, the United States Environmental Protection Agency's primary contractor at the Summitville Mine Site in South Central Colorado. As a result of this exposure, the client received a favorable settlement with the United States and the State of Colorado. The Firm also represents clients in both the prosecution and defense of minority rights claims in various jurisdictions in the United States.
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