X hits on this document

88 views

0 shares

0 downloads

0 comments

8 / 22

Respondents

13.

Essex Equity Holdings USA,

LLC ( /k/a

Maher Terminals Holdings

Corp.) (“Essex”) is a limited liability company co-owned by brothers and co-Respondents

M. Brian Maher and Basil Maher. In 2007, Essex invested with Lehman and other

investment firms approximately $1.2 billion generated from the sale of Maher Terminals,

LLC.

14.

M. Brian Maher was the Chairman and Chief Executive Officer of Maher

Terminals Holdings Corp. and is a Managing Director of Essex.

15.

Basil Maher was the President and Chief Operating Officer of Maher

Terminals Holdings Cop. and is a Managing Director of Essex.

VENUE

16.

The basis of venue in this county,is that this is the county where the

Arbitration is pending. See CPLR 7502(a)(i).

THE FACTS

The Arbitration

17.

Respondents’ claims in the arbitration relate to their purchase of ARS

from Lehman. ARS are securities with long-term or no stated contractual maturities and

short-term holding periods that offer liquidity through an auction process. Historically,

ARS have been considered safe, highly rated and highly liquid investments. A R S have

existed in the U.S. financial markets for more than twenty years and by July 2007 the size

of the market was estimated to be in excess of $330 billion. In the 23 years between

1984 and August 2007, the ARS market had experienced only a small number of auction

failures. The widespread auction failures experienced in the ARS market beginning in

5

Supreme Court Records OnLine Library - page 8 of 22

Document info
Document views88
Page views89
Page last viewedSun Dec 11 10:11:58 UTC 2016
Pages22
Paragraphs728
Words5463

Comments