Philip C. Korologos
New York City
t: 212 446 2390
f: 212 446 2350
Area of Practice
University of Virginia School of Law, J.D., 1991; Editorial Staff, Journal of Law and Politics
Cornell University, B.A., with distinction, Physics, 1988
United States District Courts: Southern and Eastern Districts of New York, multiple pro hac admissions
United States Courts of Appeals: Second, Eighth, Ninth, Eleventh and Federal Circuits
Since joining the firm in 1998, Phil Korologos's main practice area has been complex litigation. At Boies, Schiller & Flexner LLP, Mr. Korologos has represented numerous high-profile clients, including entities in areas as diverse as investment banking, airline transportation, credit card business, fund management, cable television, power and electric generation and distribution, technology, agricultural and genetic engineering, real estate development, manufacturing and construction, and resort/gaming management and development, as well as high net worth individuals, in significant and diverse litigation matters involving antitrust allegations, securities fraud and other fraud allegations, RICO, accountant malpractice, shareholder derivative suits, merger and acquisition disputes, breach of fiduciary duty claims, contract disputes, insurance disputes, partnership disputes, and toxic and environmental torts. Mr. Korologos is experienced in United States District Courts, United States Courts of Appeals, state trial courts, state appellate courts and international arbitrations.
Mr. Korologos is co-lead counsel in representing American Express Company in connection with several antitrust actions filed in the United States District Court for the Eastern District of New York by credit card merchants (individually and as a class) and the Department of Justice alleging violations of Sections 1 and 2 of the Sherman Act. He is lead counsel in representing Monarch Master Funding and Trilogy Portfolio Co. as First Lien Lenders in appealing from an adverse judgment in the bankruptcy court in the TOUSA bankruptcy pending in the Southern District of Florida; the issues on appeal include whether a $500 million transaction was a fraudulent conveyance and whether a $200 million lien on a tax refund was a preferential transfer. Mr. Korologos is lead counsel representing Jefferson County, Alabama, in a suit filed by monoline insurer Syncora in connection with hundreds of millions of dollars in fraud claims asserted by Syncora concerning issues related to Jefferson County's warrants used to finance its sewer system. Mr. Korologos is also lead counsel in representing several top-ten shareholders in connection with investigations and pursuit of securities fraud and related claims against entities which have been heavily involved in mortgage backed securities (MBS's), credit default swaps (CDS's), collateralized debt obligations (CDO's) and other credit derivatives including arrangements governed by the International Swap Dealers Association (ISDA) Master Agreement and related agreements. He is lead counsel in representing Kerzner International, a resort and gaming company and owner of the Atlantis Resort in Paradise Island in the Bahamas and the One & Only brand of six-star international resorts, in connection with a trademark dispute involving the Atlantis marks that is pending in federal district court in Nevada. Mr. Korologos was lead counsel in representing Donald Sussman and Franklin Realty Holdings in claims against PAAMCO Founders relating to Mr. Sussman's seed investments in PAAMCO; the suit, resolved in Sussman/Franklin's favor on a plaintiffs' motion for summary judgment, ensured Franklin's rights to retain $59 million in interest payments from PAAMCO Founders, secured payment of an additional $20 million in interest payments, and enforced Franklin's conversion rights into a 40% membership interest in PAAMCO Founders. He was among the lead counsel in representing Delta Air Lines with respect to a challenge under the antitrust laws filed by certain airline passengers challenging Delta's agreed merger with Northwest Airlines-the action is pending in the United States District Court for the Northern District of California. He was lead counsel in representing Opportunity Equity Partners Ltd. and Daniel Dantas, among other Brazilian-based individuals and entities, which engage in investment, fund and asset management in connection with disputes pending in the United States district and appellate courts in New York and ICC arbitrations in Paris concerning ownership and control rights of multi-billion dollar foreign companies which involve partnership and control disputes, allegations of fraud and breach of fiduciary duty. Mr. Korologos was lead counsel representing Adelphia, one of the country's largest cable providers in several complex litigations brought by Adelphia (including securities fraud, RICO, accountant malpractice, among other litigations) stemming from a major corporate scandal. Mr. Korologos was also lead counsel for Adelphia in the action brought by the Securities & Exchange Commission against Adelphia and its former management. He has played an instrumental role in representing the class in a suit (now successfully settled) involving price fixing allegations against Sotheby's and Christie's auction houses. He has been lead counsel in representing a high net worth individual in a securities fraud case against a major U.S. bank that resulted in the successful Second Circuit appeal ruling Caiola v. Citibank, 295 F.3d 312 (2d Cir. 2002), redefining a "security" to include synthetic options. He has been and continues to be lead counsel in representing the Waterford Group, a hotel and facilities development group involved in a variety of litigations, including in a partnership dispute involving breach of fiduciary duty, unjust enrichment, and fraudulent non-disclosure allegations related to the partnership's development of the Mohegan Sun Casino that resulted in a successful Connecticut Supreme Court opinion, Leisure Resort Technology v. Trading Cove Associates, 277 Conn. 21, 889 A.2d 785 (2006), affirming the lower court's grant of summary judgment. He has represented Georgia-Pacific, a leading paper and wood products manufacturing corporation, in a price fixing class action and in toxic tort litigation brought by over 400 plaintiffs involving charges of toxic contamination of lands and waters in southeast Georgia in which, following a year's worth of motion practice, the plaintiffs dismissed their own actions. He has represented 3Com, a technology/network communications equipment corporation, in achieving dismissal on summary judgment of a class action shareholder derivative suit, concerning the decline of that corporation's stock price following a miss of Wall Street expected earnings; he has represented Caithness, a major independent power producer in connection with billion dollar litigation stemming from alleged violations of environmental regulations, in connection with the California energy crisis, and in partnership and contract disputes. Mr. Korologos represented Delta and Pine Land Company, an agricultural firm, in its suit against Monsanto claiming a breach of their merger agreement as a result of the defendant's failed attempts to obtain antitrust approval.
From 1991 to 1998, Mr. Korologos was an associate at the law firm of Cravath, Swaine & Moore, where he was involved in a variety of complex litigation matters.
AmEx To Spend Up To $79M In Surcharge Suit Settlement (In the News)
David Sokol Seen as Showing Poor Judgment Without Violating Laws (April 1, 2011)
BSF to Spearhead Defense of American Express in DOJ Suit (Firm Newsletter Spring 2011)
Firm Report: January 2008 (Vol. 3, Issue I) (01.22.2008)
Firm Report: July/August 2007 (Vol. 2, Issue II) (08.22.2007)
Firm Report: March 2006 (Vol. 1, Issue I) (03.01.2006)