By way of example, Mr. Baum litigated on behalf of 150 investors in the Boardwalk Marketplace securities offering, who were bilked of their multi-million dollar investment in a three square block area of Atlantic City by the convicted felon, John Galanis, and were subsequently pursued by various banks to whom their investment notes had been assigned. The notes were held to be non-negotiable instruments, freeing the investors to assert various defenses against the banks which would otherwise have been unavailable.
Mr. Baum has consistently sought ways to bring value to clients through efficient approaches to litigation. For example, even before filing a formal answer he successfully moved to dismiss a $25 million claim of fraud in connection with a merger and acquisition. Similarly, while representing a general contractor in a construction litigation matter, Mr. Baum used summary judgment proceedings to abort trial of a $600,000 subcontractor’s claim and obtain a $200,000 award for the general contractor on the counterclaim. He has successfully prosecuted actions on commercial obligations from commencement through enforcement proceedings to obtain collection of substantial claims.
Mr. Baum has represented business interests from the European Community and the Pacific Rim. In addition to judgments for EC companies, he has obtained a judgment of over $800,000 for a Taiwanese business, and a $4.5 million dollar judgment on behalf of the largest privately held company in Hong Kong.
Mr. Baum spent more than three of his years of practice exclusively in the representation of reinsurers in disputes with ceding companies or retrocessionaires. These often complex and high-stakes disputes involved the reinsurance of a variety of types of property and casualty policies, ranging from self-insured retention on retrospectively rated business, workers compensation, general liability, professional liability, and directors and officers coverage, subject to aggregate excess of loss and quota share reinsurance treaties, as well as facultative agreements. For example, Mr. Baum was involved in the successful representation of reinsurers of AIG, seeking rescission of aggregate excess quota share treaties, bearing $50 million in liability, on the ground of, inter alia, misrepresentation of the maximum premium on self-insured retention policies, serving as the trigger of liability under one set of treaties.
Mr. Baum has also been involved in ground level coverage disputes, and has represented claimants seeking disability coverage.
PRODUCTS LIABILITY and TORT LITIGATION
Earlier in his legal career, Mr. Baum conducted a number of jury trials in connection with the defense of tort claims ranging from death at a construction site, through wrongful arrest, slip and fall, automobile injuries and property damage. He has been involved in the defense of claims relating to asbestos and other products liability claims.
Mr. Baum has served as CLE chair of the New York County Lawyers Association’s Environmental Law Committee, and, inter alia, chaired an Evening Forum at the Home of Law on legal issues relating Lead Poisoning, including the prosecution and defense of lead claims, insurance coverage, the statutory scheme and abatement. He has been qualified as a New York City Department of Health Speaker on Lead Poisoning.
PROFESSIONAL and EDUCATIONAL BACKGROUND
Mr. Baum is a graduate of the Fordham University School of Law, where he was Commentary Editor of the Fordham International Law Journal, and received his B.A., cum laude, and M.A., with distinction, in the Comparative Study of Religion from Colgate University. He speaks Spanish and Japanese.