Elizabeth Frohlich

Liz Frohlich has represented U.S. and international companies in their most important commercial and financial services disputes nationwide. She represents banks and securities broker-dealers in complex, high-stakes civil and criminal actions in federal and state courts as well as arbitrations.

Liz is particularly experienced with litigation involving asset-backed securities. In addition to her securitization litigation work, she handles investor cases, trust instruction proceedings, National Fair Housing Act cases, actions by municipalities and County Recorder/Mortgage Electronic Registration Systems actions.

She often provides clients with advice concerning pre-litigation legal strategy as well as post-litigation consulting.

Liz’s experience includes:

• Representation of RMBS trustees in defense of more than a dozen class, derivative and individual actions brought by RMBS investors, alleging hundreds of billions of dollars in damages for violation of the Trust Indenture Act of 1939, breach of fiduciary duty and breach of trust agreements in federal and state courts
• Development with bank client of strategy to establish nationwide legal precedent on issues of limited liability of RMBS trustees and execution of strategy
• Representation of RMBS trustees in defense of numerous California and nationwide class actions brought by mortgage loan borrowers asserting claims for, among other things, consumer unfair and deceptive trade practices and/or asserting that the trustees lacked standing to enforce notes and mortgages that had been securitized
• Development with client of strategy to establish Southern California venue for trust instruction proceedings typically filed in New York and Minnesota and execution of strategy
• As national coordinating counsel, developed deposition and defense strategy in dozens of cases nationwide to ensure consistencies of testimony and argument
• Representation of RMBS trustees in over two dozen trust instruction proceedings, several involving bench trials of investor objections to multibillion-dollar settlements negotiated between investors and sponsors concerning sponsors’ liability for representations and warranties concerning mortgage loan characteristics
• Representation of investment bank in defense of breach of contract claim
• Representation of bankruptcy creditors in asserting claims and in evidentiary hearing opposing debtor-in-possession financing
• Representation of bank senior executives in deposition and evidentiary hearings
• Reporting on behalf of bank clients to regulators and bank’s domestic and foreign insurance syndicate
• Community engagement and negotiation with municipal and housing entities on behalf of bank clients
• Representation of broker-dealers and clearing broker in multiple FINRA arbitrations
• Representation of publicly traded companies in defense of securities fraud class actions