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Peter G. Callaghan

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

    Publication

    DOL Provides Guidance on Exemption from Paid Leave for Small Businesses

    The FFCRA requires certain employers to provide paid sick leave and expanded FMLA benefits due to COVID-19 but provides that businesses with fewer than 50 employees may be exempt if the obligation would jeopardize...

    News

    Benchmark Litigation Names Preti Flaherty 2020 “Maine Firm of the Year”

    Benchmark Litigation has named Preti Flaherty as 2020 Litigation Firm of the Year in the State of Maine. The Benchmark Awards honor distinguished litigators and law firms in all 50 states and 10 practice...

    Publication

    Return to Work Protocol for Workers Following an Absence Due to COVID-19

    This protocol outlines steps to consider when returning an employee or contractor to work after a COVID-19-related absence and applies to situations in which the person: (1) had a positive test result or (2...

    Publication

    Alert: COVID-19 Update for ME and NH Employers

    As the landscape of the COVID-19 global pandemic continues to evolve, employers across the country are looking for guidance on how to reduce the impacts on their businesses and their employees. Yesterday, the Maine...