William T. Russell, Jr.

Bill Russell is a Partner at Simpson Thacher & Bartlett LLP in the Firm’s Litigation Department. He represents clients in a wide variety of commercial disputes including banking litigation, bankruptcy and reorganization matters, securities litigation, and contractual and transactional disputes, and has tried cases in state and federal courts, as well as in arbitral proceedings. His clients include leading financial institutions, private equity sponsors, corporations and other businesses. He has handled cases involving derivative transactions, residential mortgage-backed securities, secured lending syndicates, M&A transactions, Ponzi schemes, apparel licensing agreements, and auction rate securities, among other issues. He was one of the leaders of the defense group in Adelphia Recovery Trust v. Bank of America, et al. and led the negotiations that resulted in a settlement of that litigation for a small fraction of the claimed damages. He also recently represented one of the lead creditors in the In re Jefferson County Chapter 9 proceedings that, at the time, were the largest municipal bankruptcy proceedings in U.S. history. He also recently obtained a $168 million judgment for a large financial institution in a case involving an interest rate derivative transaction with a Brazilian manufacturing concern and is currently representing a number of financial institutions in connection with claims arising out of their issuance of residential mortgage-backed securities. He maintains an active pro bono practice and served as Co-Chair of the Firm’s Pro Bono Committee for almost 10 years. He has represented pro bono clients in a number of areas including housing, education and discrimination matters. He represented the Campaign for Fiscal Equity in its successful constitutional challenge to the public education funding system in New York State. He has been awarded the Legal Aid Society’s Award for Outstanding Pro Bono Service and Manhattan Legal Service’s Visionary Leadership Award in connection with his pro bono and public service efforts. Bill is a member of the American Law Institute; former Chair of the New York City Bar Association’s Committee on Pro Bono and Legal Services and member of its delegation to the New York State Bar Association’s House of Delegates and current Chair of its Special Committee on Legal Services Awards; former Chairman of the Board of Manhattan Legal Services; a member of the Advisory Board of Legal Outreach, Inc.; a member of the Board of the National Center for Access to Justice and the Board of Legal Services NYC; co-chair of the New York State Bar Association’s President’s Committee on Access to Justice and a member of its Special Committee on Student Loan Assistance for the Public Interest; and a former member of the Board of Directors of the Lawyers Alliance for New York. He was selected as a David Rockefeller Fellow for 2000–2001. He currently serves as a Panel Chair on the Disciplinary Committee for the First Judicial Department and was appointed by New York State Court of Appeals Chief Judge Jonathan Lippman to the Chief Judge’s Attorney Emeritus Council. Bill was a featured speaker at the 2012 and 2014 Southeastern Bankruptcy Law Institutes. He is co-author of the monthly column “New York Court of Appeals Roundup” appearing in the New York Law Journal, which discusses significant decisions by New York’s highest court. He has been recognized as a “litigation star” in Euromoney’s Benchmark Litigation, recognized by The Legal 500, and named in New York Super Lawyers. Bill joined Simpson Thacher in 1990 and became a Partner in 1999. He received his A.B., magna cum laude, from Princeton University in 1987 and his J.D. from New York University School of Law in 1990. He is admitted to practice before the Southern, Eastern and Northern District Courts of New York, the United States District of Arizona, the United States Court of Appeals for the Second and Fourth Circuits, the United States Supreme Court and all Courts of the State of New York.

January 19, 2021 | New York Law Journal

Decision Clarifies Contract Issue Regarding Grossly Negligent Conduct

In their New York Court of Appeals Roundup, Linton Mann III and William T. Russell Jr. discuss 'Deutsche Bank National Trust Company v. Morgan Stanley Mortgage Capital Holdings', in which the court held that the public policy rule prohibiting parties from insulating themselves for damages resulting from grossly negligent conduct only applies to contractual provisions that either completely immunize a party or provide for solely nominal damages.

By Linton Mann III and William T. Russell Jr.

6 minute read

December 15, 2020 | New York Law Journal

Permissible Damages Following Breach of Commercial Tenant Agreements

In their New York Court of Appeals Roundup, Linton Mann III and William T. Russell Jr. discuss a recent decision in which the court unanimously reaffirmed the principle that "parties are free to agree to a liquidated damages clause provided that the clause is neither unconscionable nor contrary to public policy." However, the judges split 4-3 on the issue of whether the relevant damages clause in a commercial lease was unenforceable as a matter of law because it was so grossly disproportionate to the ascertainable amount due upon full performance.

By Linton Mann III and William T. Russell Jr.

8 minute read

November 18, 2020 | New York Law Journal

Decision Clarifies Class Action Tolling in New York

In their New York Court of Appeals Roundup, Linton Mann III and William T. Russell Jr. discuss the decision in 'Chavez v. Occidental Chemical Corporation', in which the court answered questions certified by the Second Circuit regarding the extent to which New York recognizes the class action tolling principles set forth in 'American Pipe'.

By Linton Mann III and William T. Russell Jr.

8 minute read

July 21, 2020 | New York Law Journal

Court Examines Powers of Law Enforcement When Acting Outside Jurisdiction in Traffic Stop

In their New York Court of Appeals Roundup, Neuner and Russell review a recent decision in which the Court of Appeals examined the powers of law enforcement officers acting outside the scope of their jurisdiction to stop a vehicle for traffic violations and effectively conduct an "arrest."

By Lynn K. Neuner and William T. Russell Jr.

7 minute read

June 16, 2020 | New York Law Journal

Compliance With Election Law Requirements Still Important During Pandemic

In their New York Court of Appeals Roundup, Neuner and Russell review two recent rulings (involving late-filed documents and allegedly back-dated signatures on a petition) indicating that the court will continue to demand strict compliance with election law requirements.

By Lynn Neuner and William T. Russell Jr.

7 minute read

May 19, 2020 | New York Law Journal

Decision Demonstrates Court's Respect for Arbitration Parameters

In their New York Court of Appeals Roundup, Lynn Neuner and William Russell, Jr. discuss how the court recently reaffirmed New York's public policy favoring arbitration and the ability of parties to consensually define the parameters of their dispute resolution process in American International Specialty Lines Insurance Company v. Allied Capital Corporation.

By Lynn K. Neuner and William T. Russell Jr.

7 minute read

April 14, 2020 | New York Law Journal

Court Decides Gig Employment Issue: 'Vega v. Postmates'

In their New York Court of Appeals Roundup, Lynn K. Neuner and William T. Russell Jr. discuss a recent decision in which the court decided that an individual who served as a courier for the delivery service Postmates qualified as an "employee" and Postmates was therefore required to make contributions to the unemployment insurance fund for him and other similarly situated individuals.

By Lynn K. Neuner and William T. Russell Jr.

9 minute read

March 17, 2020 | New York Law Journal

Court Reverses Sentence Improperly Based on Unrelated Action

In their New York Court of Appeals Roundup, Lynn K. Neuner and William T. Russell Jr. discuss a recent four-to-three decision in which a narrow majority of the Court of Appeals reversed a trial court's sentencing determination that had been based on information from an unrelated criminal action in which the same defendant had been acquitted of all charges.

By Lynn K. Neuner and William T. Russell Jr.

7 minute read

January 16, 2020 | New York Law Journal

'Udeke' Court Rejects Attempt To Overturn Guilty Plea

In their New York Court of Appeals Roundup, Lynn K. Neuner and William T. Russell Jr. discuss 'People v. Udeke', in the defendant argued that he was not clearly informed at his plea allocution that he had a right to a jury trial on the class B offense and that his plea accordingly was not a voluntary and knowing waiver of his rights. The court rejected the defendant's argument.

By Lynn K. Neuner and William T. Russell Jr.

7 minute read

December 17, 2019 | New York Law Journal

Criminal Decision Demonstrates Growing Effect of Opioid Crisis

In their New York Court of Appeals Roundup, Lynn K. Neuner and William T. Russell Jr. discuss the recent decision in 'People v. Li', in which the court upheld the manslaughter convictions of a physician who prescribed opioids to two individuals who subsequently died from overdoses. This case evidences the growing effect that the opioid crisis is having on our society, including with respect to criminal jurisprudence.

By Lynn K. Neuner and William T. Russell Jr.

6 minute read

More from ALM

Legal Speak is a weekly podcast that makes sense of what’s happening in the legal industry.