Distinguished Alumni Lecturer Thomas Lauria, who represented a group of stockholders during the restructuring of automobile manufacturer Chrysler, will lecture at the UT College of Law at noon Friday, Oct. 22. Room 132 of the College of Law building. The lecture is free and open to the public.
Lauria is the Global Practice Head of the Financial Restructuring and Insolvency Group at White & Case. He has led the firm’s efforts in restructuring more than $100 billion in debt in complex restructurings including Washington Mutual Inc., Delphi Corp., Mirant Corp. and the Williams Communications Group.
In one of Lauria’s most recent cases, he represented baseball legend Nolan Ryan in a legal nail biter between Ryan and Dallas Mavericks owner Mark Cuban in Ryan’s victorious quest to become the new owner of the Texas Rangers baseball team.
Lauria drew perhaps his most international attention to date when he was called out by President Barack Obama for his representation of a group of stockholders during the restructuring of American automobile manufacturer Chrysler and its sale to Fiat.
In the spring of 2009, Obama addressed Lauria and the clients he represented in a public speech by saying, “They were hoping that everybody else would make sacrifices, and they would have to make none. …I don’t stand with them. …I don’t stand with those who held out when everybody else is making sacrifices.”
Lauria said the chastisement of the shareholders, who would have accepted 50 cents on the dollar for their investment, changed the nature of the case and made him reexamine the law and the U.S. Constitution. He expects to share some of his observations about the Chrysler case during his lecture.
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C O N T A C T :
Kristi Hintz, UT Media Relations, (865-974-3993, khintz@utk.edu)
Tanya Brown, College of Law Director of Communications, (865-974-6788, tgbrown@utk.edu)