Lawrence W. Byrne

Larry Byrne is a member of Pedersen & Houpt's Litigation and Dispute Resolution Practice Group. His practice is enhanced by his experience as a trader and as a manager of a trading fund at the Chicago Mercantile Exchange, where he was involved in arbitrage involving various financial products. This experience has given Larry a deep understanding of complex financial instruments and matters.

One of the first lawyers to obtain a successful verdict from the Financial Industry Regulatory Authority (FINRA) in an Auction Rate Securities (ARS) case, Larry represents clients in state and federal court at both the trial and appellate levels as well as in private arbitration.

His clients include numerous Chicago-based businesses. He has successfully represented several real estate companies in both their transactional and trial work, taking many cases to judgment. He has significant experience in representing lenders confronting the foreclosure of office parks, shopping malls, and other commercial real estate. He has represented companies in litigation by or among shareholders and has successfully represented an area auto parts retailer in defending against shareholder oppression claims. Additionally, he has successfully enforced judgments, including in circumstances when the debtor's assets were secreted off-shore.

He has prevailed in the defense of clients involved in Consumer Fraud Act claims, Truth in Lending claims, class action claims, as well as consumer-oriented and financial disclosure-related lawsuits. He has advised Chicago area automobile dealers on options for restructuring their businesses to minimize liability and potential litigation.

A seasoned family law practitioner, Larry draws on his financial and investment background to counsel clients about the impact of the division of marital and non-marital assets and determination of the fair value of closely-held businesses as well as avenues to find hidden assets. He has successfully obtained an $18M judgment for a client in a family law matter.

He is a member of the Chicago Bar Association and the Federal Trial Bar.

Representative Experience

• Obtained a $2.5 million verdict against a financial advising firm for violating Rule 10(b) and other securities acts related to the sale of Auction Rates Securities (ARS) that were represented to be cash equivalents. As one of the first significant ARS cases, the verdict was covered by The Wall Street Journal.  Several other verdicts on this subject were subsequently obtained.
• Represented shareholders of a closely-held internet company valued at $10 million in claims against  a rogue shareholder who transferred and secreted company funds offshore, obtaining a $3 million judgment in shares and sanctions for the clients.
• Received a not guilty verdict for an auto dealership that was accused of using one plaintiff as a straw purchaser for a second plaintiff.
• Obtained and subsequently successfully defended a summary judgment on appeal on behalf of a car dealer involved in a Magnuson-Moss breach of warranty claim.
• Prevailed in a bench trial defending a real estate investment company in a multi-count complaint that included claims for breach of contract and unjust enrichment.
• Obtained possession of seven (7) separate pieces of real property through a strict foreclosure for a mezzanine lender who was in a third position on most of the properties.  This case involved the successful litigation of a foreclosure matter as well as foreclosure matters and work-outs with senior lenders.
• Foreclosed on a commercial high rise in the Chicago Loop and restructured the debt between the senior and junior lenders.
• Obtained a judgment in excess of $18 million dollars in a family law matter.
• Obtained sole custody for a father in spite of the attorney for the child and the court's 604(b) expert recommending custody to the mother.
• Successfully enforced judgments including asset searches and collections from off-shore bank accounts.

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Professional Affiliations

Chicago Bar Association

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John Marshall Law School Alumni Board of Directors

Worked with an organization to provide housing for disabled adults.