Selendy Gay Elsberg and Kirkland Lead Cerberus Capital Management To a Significant Litigation Victory
On behalf of client Cerberus Capital Management, co-lead counsel Selendy Gay Elsberg PLLC and Kirkland & Ellis LLP teamed up to secure a top-to-bottom liability win on December 1, 2022 in a breach of contract action against Canadian Imperial Bank of Commerce (CIBC), one of Canada’s largest banks. After a subsequent damages hearing and related decision on January 3, 2023 that rejected nearly all of CIBC’s damages arguments, CIBC has acknowledged it owes Cerberus nearly $850 million as of December 1, 2022.