CPM represented the Santa Clara Valley Transportation Authority (“SCVTA”) in a contractual dispute relating to several lease transactions that SCVTA entered into with a number of major financial institutions concerning the sale and lease-back of rail cars. These banks sought to extract tens of millions of dollars in unwarranted penalties from SCVTA after the financial crisis resulted in the downgrading of credit ratings of the insurance companies that insured the transactions, at no fault of SCVTA. CPM assisted SCVTA in resolving the contract dispute in a manner beneficial to SCVTA without resorting to litigation.
