John P. Foudy
JOHN P. FOUDY joined the firm in 1999. His professional experience includes over fifteen years of commercial, insurance, banking and bankruptcy litigation.
Focused in commercial litigation, Mr. Foudy has successfully represented various insurance and banking institutions in cases and matters concerning multi-million dollar mortgage and real state fraud schemes, involving straw buyers, multi-party flipping schemes, claimed loan origination fraud; multi-million dollar fidelity insurance claims- some involving complex international commodities transactions, the Madoff Ponzi scheme and other investment Ponzi schemes and frauds; property insurance claims including mass catastrophe losses; fraudulent insurance claims and schemes; banking fraud cases—including check fraud, wire fraud and automated clearinghouse (ACH) schemes, and other checking and negotiable instrument issues involving UCC Articles 3, 4 and 4A as well as the NACHA Rules and other clearinghouse rules; commercial banking loan and mortgage workouts, including multi-million dollar defaulted commercial real estate and construction loans, and claimed predatory lending and other lender liability litigation involving both federal and state rules and regulations.
Some of the reported cases handled by Mr. Foudy include: Cumberland Packing Corp. v. Chubb Ins. Corp., 2010 WL 3991185 (N.Y.Sup.) where he obtained the summary dismissal of claims arising out of the Madoff Ponzi scheme; Wachovia Mortgage. v. Smoot, 478 B.R. 555 (E.D.N.Y.,2012) where he defeated an attempt to strip off a junior mortgage in a chapter 7 Bankrupcty; David R. Maltz & Co., Inc. v. Wachovia Bank, N.A., 2010 WL 1286308 (E.D.N.Y. 2010) where he successfully defended against an auctioneer’s commission claim on the sale of a multi-million dollar property after the United States Attorney’s office intervened in the sale causing the purchaser to back out; Lopes v. Mellon Investor Services LLC, 2007 WL 4258189 (S.D.N.Y. 2007) where he obtained the dismissal of claims brought by an allegedly defrauded stock transferee against a depository bank; Elite Investigations v. Bank of New York, 2006 WL 3232185 (N.Y.Sup. 2006) where, in a case involving the application of the NACHA Rules, he successfully defended the bank with respect to a series of ACH debits originated by a depositor’s creditor and employee. In Doural v. Bank of New York, 2005 WL 408050 (E.D.N.Y. 2005), Mr. Foudy successfully defended and obtained summary judgment dismissing various claims and causes of action against the defendant bank for violations of the Truth-in-Lending-Act, Regulation Z, N.Y. General Business Law Deceptive Practices Act and Fair Debt Collection Practices Act allegedly arising from the origination of mortgage loans.
Mr. Foudy also handles complex legal matters concerning enforcement of levies, subpoenas, legal process, and issues involving fund transfers and their interdiction, for national and other banks, including successfully defending class action litigation involving such issues. (See, McCarthy v. Wachovia Bank, N.A., 759 F.Supp.2d 265 (E.D.N.Y.2011)).
A cum laude graduate from the University of Buffalo Law School in 1994, Mr. Foudy was a member of the University of Buffalo Law Review. He is admitted to practice in the State and Federal Courts in New York, including before the United States Court of Appeals for the Second Circuit.