Trevor Swett is a member in Caplin & Drysdale's Washington, D.C. office. He was elected to membership in 1989, having joined the firm as an associate in 1985.
ServicesMr. Swett's practice emphasizes bankruptcy litigation related to corporate reorganizations and the prosecution and defense of complex civil cases involving allegations of financial misconduct. He has focused on asset recovery litigation and has accumulated a depth of experience in suits for fraudulent conveyance, successor liability, and piercing the corporate veil. He also has substantial experience representing taxpayers in litigation against the Internal Revenue Service.
- Mr. Swett is lead litigation counsel for the Asbestos Claimants Committee in the Chapter 11 bankruptcy case of Garlock Sealing Technologies, LLC, pending in the United States Bankruptcy Court for the Western District of North Carolina. The Committee asserts that Garlock is insolvent by reason of its total liability for present and future asbestos personal injury and wrongful death claims. Committee counsel are preparing to prove up an estimate of Garlock's aggregate asbestos liability in a contested estimation proceeding and investigating potential "clawback" actions against certain affiliates of Garlock.
- He represented the Asbestos Claimants Committee in the bankruptcy liquidation of Motors Liquidation Company (formerly, General Motors). A contested proceeding for estimating the debtor's asbestos liability resulted was settled by an agreed estimate, and a trust for General Motors' asbestos claimants has been established and funded under a confirmed plan of liquidation.
- Mr. Swett is counsel to an official committee of unsecured creditors in the bankruptcy of Durabla Manufacturing Company and affiliates. Asbestos claimants are the major creditor body in the case. The Committee, the Future Claims Representative, and the Debtors are preparing a consensual plan of reorganization for submission to a vote of the claimants.
- Mr. Swett served as lead litigation counsel for the Asbestos Claimants Committee in the Chapter 11 bankruptcy case of G-I Holdings and related adversary proceedings for fraudulent transfer and successor liability. G-I and its principals agreed to a settlement under which they have funded a $775 million trust for our client's constituency.
- He represented the Unsecured Creditors Committee of Raytech Corporation in a suit for fraudulent transfer and breach of fiduciary duty against insiders.
- In the Chapter 11 reorganization of Hillsborough Holdings Corporation, he acted for tort victims in litigation to impose liability on the parent of the Celotex Corporation under a theory of piercing the corporate veil.
- He represented a leading financial institution in disputes arising out of the subprime mortgage crisis, including the bankruptcy of a large mortgage loan originator and a controversy between banks concerning alleged mis-selling of a collateralized debt obligation.
- As a business litigator, he has acted for plaintiffs and defendants in suits involving allegations of fraud, misrepresentation, breach of fiduciary duty, and accounting malpractice, and has represented financial professionals in federal enforcement proceedings.
- As a tax litigator, he has tried Tax Court cases concerning the allocation of purchase price for a professional sports team and a spouse's claim for relief from her husband's tax liabilities. He has litigated a "whipsaw" dispute in which two major corporations vied against one another and the IRS for a large tax benefit. He has also conducted tax refund litigation in federal District Court.
Professional ActivitiesMr. Swett has made speeches and presentations on a variety of litigation issues, including hedge fund redemptions, piercing the corporate veil, limited shareholder liability, corporate governance and conflict of interest, liability in tort for aiding and abetting, and legal and ethical constraints on cross-examination.
Awards & Honors
- Recognized as a top lawyer in the 2013 edition of Chambers USA: Bankruptcy/Restructuring
- Ranked as a leading lawyer in the 2010-2012 editions of The Legal 500.
- Ranked as a leading lawyer in the 2010-2012 editions of Benchmark Litigation
- Mr. Swett has been awarded the highest peer-review rating ("AV") by Martindale-Hubbell, the national legal directory.