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Peter G. Callaghan,
Director

Concord, NH 603.410.1500
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Representative Matters

  • Represented bank as Plaintiff in in case where Plaintiff made a series of loans to borrower, which in the end totaled $12 Million.  In 2011 it was discovered that the borrower had overstated its assets by $10.5 Million. The borrower filed for bankruptcy protection and ultimately dissolved. The bank sued the company CFO for negligent misrepresentation, which was covered by the company’s D&O policy, and the company’s outside accountant and auditor for negligence, which was covered by the professional liability policy. Obtained $2.35 Million settlement for client shortly before trial.  The settlement was approved by the Bankruptcy Court. The settlement secured the bulk of the available insurance proceeds before coverage was declined and before any criminal charges have been filed. The company CEO subsequently pled guilty to a conspiracy charge.

  • Represented multiple parties including bank and mortgage company as Defendant in 2 million dollar case where Plaintiffs borrowed $2.9 million in order to purchase a home. The borrowers defaulted in 2009 and after numerous failed attempts to resolve the default, the lender initiated foreclosure proceedings. Borrowers filed suit to declare the mortgage void and for damages related to the collection efforts of the lender.  Plaintiffs brought claims for violation of RESPA and the New Hampshire Consumer Protection Act. The Plaintiffs challenged the validity of the endorsement on the Note, as it was a successor trustee who was seeking to foreclose.  Plaintiffs also challenged the endorsement of the Note to the successor trustee, which endorsement occurred during the litigation. Obtained dismissal of all claims but one on Motion to Dismiss (Plaintiffs later Amended their Petition). Won Judgment for Defendants on all claims following Bench Trial. This enabled the lender to enforce the note and mortgage by foreclosing on the property.

    • Firm Highlights

    Event

    2023 Maine Employment Law Summit

    For nearly 30 years, Preti Flaherty's Employment Law team has provided Maine employers with practical guidance and best practices at our annual Employment Law Summit. Join us  Thursday, October 5  for the 2023 Employment...

    Publication

    President Biden Signs Speak Out Act

    On December 7, 2022, President Biden signed the "Speak Out Act" which became effective that day. The Act prohibits the enforcement of blanket non-disclosure and non-disparagement clauses that are entered into before any allegation...

    News

    43 Preti Flaherty Attorneys Selected by Peers for Inclusion in Best Lawyers in America 2024, Including 1 “Lawyer of the Year”

    Forty-three Preti Flaherty attorneys have been named to Best Lawyers in America 2024, including five “Ones to Watch” and one “Lawyer of the Year.” Inclusion in Best Lawyers in America is considered a high...

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