Peter Ihrig, Bankruptcy Attorney in Minneapolis, Minnesota

Peter is a commercial litigator known for distilling complicated subject matter into clear, compelling narratives that resonate with judges, juries, and opposing parties.

He represents clients on both the plaintiff and defense sides of high-stakes litigation. On the plaintiff side, Peter has secured verdicts and settlements in the hundreds of millions of dollars. On the defense side, he has represented major financial institutions and companies in government enforcement actions and commercial matters involving claims valued in the billions. His defense work has included not only managing clients’ primary defenses but also prosecuting third-party indemnification actions against other parties.

Recently, Peter represented a bankruptcy trustee in a long-running case that culminated in a $564 million jury verdict – the largest jury verdict in Minnesota history – following a federal court trial in Minnesota. He also helped secure a $28 million settlement on behalf of the receiver for Education Corporation of America (“ECA”), a for-profit education company, in a case against ECA’s former officers and directors for alleged breaches of fiduciary duty.

Peter was co-lead counsel for Regis, LLC in a complex commercial real estate dispute against its landlord. The Regis team won partial judgment on the pleadings, requiring the landlord to pay the full seven-figure damages award sought in the complaint.

In another major matter, Peter represented U.S. Bank in a multibillion-dollar case brought by the People of the State of California for alleged unfair competition related to foreclosed properties held in RMBS trusts. His role included defending against the State’s claims and pursuing third-party indemnification claims against several large mortgage servicers that serviced the properties at issue. The Plaintiff sought billions of dollars in fines and a permanent injunction that would have fundamentally altered securitized mortgage administration. The case settled just before trial on favorable terms, without any agreement to formal injunctive relief and for less than 1% of the monetary relief initially sought.

Concentrations

• Trials and arbitrations
• Financial services and securities litigation, including representing corporate trustees
• Representing bankruptcy trustees, litigation trusts, creditors, and receivers in restructuring-related litigation (including D&O litigation)
• Affirmative recoveries through indemnification claims against third parties
• Fraud
• Government and regulatory litigations and investigations
• Breach of contract
• Commercial real estate disputes
• Electronic discovery, including developing and implementing efficient and defensible strategies for document preservation, collection, and review