Antony S. Burt has more than 25 years of experience in complex commercial litigation, with a particular concentration in the areas of:
- Financial Institutions
- Insurance insolvency
- Fidelity and surety bonds
- Director, officer and professional liability
- Civil fraud investigations
Financial Institutions Litigation
Mr. Burt has extensive experience representing the Federal Deposit Insurance Corporation (FDIC), the Federal Savings and Loan Insurance Corporation (FSLIC), and the Resolution Trust Corporation (RTC).
He was lead counsel for all professional liability and commercial litigation matters arising out of the failure of numerous savings and loan associations and banks, including:
- Silverado Savings and Loan Association (Colorado)
- Manning Savings & Loan Association (Illinois)
- Tri-County Savings and Loan Association (New Jersey)
- First American Savings and Loan Association (Illinois)
- Columbia Federal Savings & Loan Association (Colorado)
- Capitol Federal Savings and Loan Association (Iowa)
Mr. Burt handled highly visible lawsuits for these federal receiverships, including lawsuits against a former governor of Illinois, a U.S. congressman, a city mayor, and the son of a sitting President of the United States.
Mr. Burt's illustrative experiences in this area include:
- Acting as chief outside counsel for the RTC on all investigations into possible financial fraud at closed savings and loans during RTC's final year. In addition, he conducted special investigations for the RTC relating to the failure of such high-profile financial institutions as Franklin Savings and Loan Association of Overland Park, Kansas, and Centrust Savings of Florida.
- Serving as a member of the RTC's Phoenix SWAT team handling litigation, investigations and asset disposition issues. During this period, Mr. Burt regularly lectured RTC attorneys and investigators on conducting investigations and pursuing professional liability claims.
- Being involved in many of the most important cases involving legal challenges to the appointment of receivers and special receivership powers, including two cases which were decided by the U.S. Supreme Court.
In 2010, Mr. Burt represented the FDIC in a contract dispute over an assistance agreement, recovering over $43 million in the face of a $50 million counterclaim. Mr. Burt also successfully lifted an injunction against the FDIC on the sale of an $85 million loan secured by a hotel property, allowing the sale to proceed that day.
Mr. Burt also regularly represents financial institutions in lender liability and commercial disputes.
Mr. Burt has substantial experience with reinsurance arbitration and litigation on behalf of both reinsurers and cedants. His reinsurance experience includes disputes over:
- Personal accident
- Individual disability insurance
- Workers' compensation carve out
- Warranty claims handling
- Claims reviews and auditing
- Oral agreements to reinsure
- Follow the fortunes and follow the settlements
- Letters of credit
- Fronting arrangements and obligations of ceding and assuming companies
His major matters include:
- Acting as lead trial counsel in Houston General Insurance Co. v. Certain Underwriters at Lloyd’s London, U.S. Dist. LEXIS 19516 (S.D.N.Y. 2003), in which the court affirmed the entry of a $39 million arbitration award.
- Leading a special investigation for the Litigation Committee of the Board of Directors of State Farm Insurance Company into the company’s handling of the insurance claim by the then-President of the United States.