william f. costigan
Of Counsel
Commercial Litigation
costigan@dssvlaw.com
Mr. Costigan has handled an array of commercial litigation matters, including breach of contract, fraudulent conveyance, antitrust and securities fraud cases, as well as adversary proceedings in bankruptcy and commercial arbitrations.
A substantial part of Mr. Costigan’s litigation practice involves representation of state insurance commissioners when functioning as statutory receivers of insolvent insurance companies. He has handled suits against former directors and officers of the insolvent companies, former parent companies and affiliates, and reinsurers. Outside the receivership realm, he has handled coverage disputes, reinsurance litigations and arbitrations, and other insurance industry matters.
Mr. Costigan is admitted to practice before the Courts of the State of New York and the Commonwealth of Pennsylvania (inactive). He is also admitted to practice before the U.S. Supreme Court, the U.S. Court of Appeals (Second and Third Circuits), the U.S. District Court (Southern, Eastern and Northern Districts of New York), and the U.S. Court of International Trade.
He received his J.D. from New York University School of Law in 1980 and his B.A. from the University of Pennsylvania, where he was a Benjamin Franklin Scholar, in 1977.
Mr. Costigan began his career in the Litigation Department of Mudge Rose Guthrie & Alexander, leaving that firm in1988 to launch his own firm. He closed that firm and joined the commercial litigation practice of Dornbush Schaeffer Strongin & Venaglia, LLP in 2006. Early in his career, he also taught Legal Writing at New York Law School.
Representative Engagements
2000: Representation of 450 investors in instruments issued by a massively insolvent New York equipment leasing company: negotiated an over $13.6 million settlement with the U.S. Branch of an Italian financial guaranty insurer.
2001: Representation of plaintiff liquidator in the first case tried to a verdict under the holding company provisions of the New York Insurance Law: won $21 million jury verdict against both principals of the insurer on a breach of statutory fiduciary duty claim and a $28 million verdict against one of the principals on an alter ego theory. Judgment affirmed on appeal in 2003.
2002: Representation of creditor in U.S. Bankruptcy Court trial of causes of action to deny Debtor discharge under Bankruptcy Code §727: won denial of discharge on three independent grounds and affirmance by U.S. District Court in 2006.
2004: Representation of reinsurance cedent in contract action against a non-performing reinsurer: won a unanimous jury verdict as to liability and a $16.5 million settlement the following month.
2005: Arbitration of breach of contract claim against consulting firm for software programming: obtained award for full amount claimed, converted award to judgment, and successfully enforced.
2005: Representation of rehabilitator of an insolvent insurer in proceeding to secure approval of $248 million modification of reinsurance agreement: approval granted and order affirmed on appeal in 2006.
2006: Testimony as expert witness on New York law in connection with London arbitration of ocean marine coverage dispute arising from terrorist bombing/ total loss of Greek-chartered vessel in Sri Lanka.
2006: Arbitration of breach of contract claim against international reinsurer: adverse award vacated on grounds of manifest disregard of law and case remanded to new panel.
2007: Claim against life insurer for failure to pay death benefit. Case settled at mediation for full amount of death benefit.
2007: Defense of Rehabilitator of insolvent insurer on $2.7 million surety claim – won decision sustaining the Rehabilitator’s discretion to defer payment.