professionals
Gary R. Wallace | Principal
gwallace@gladstonemichel.com
(310) 821-9000
Gary Wallace has more than 20 years of legal experience representing clients in business litigation, bankruptcy and legal malpractice cases. He has represented a diverse array of financial institutions, insurers, municipalities, professionals and corporations of different types and scales worldwide. He has an excellent track record in all courts, including a perfect success rate in jury and non-jury trials before the Superior and Bankruptcy Courts.
Gary represents clients in litigation matters involving a variety of business torts, contractual disputes, and collections. He is knowledgeable on issues of pre-judgment remedies and post-judgment enforcement procedures. He has negotiated structured settlements and has experience in commercial and residential foreclosure matters (judicial and non-judicial), including receiverships, on behalf of lenders and borrowers.
In non-litigation matters, Gary advises clients on corporate matters such as officer and director duties and shareholder rights. He has negotiated commercial leases for tenants and frequently represents debtors in bankruptcy matters, but more commonly creditors, in Chapter 7, 11 and 13 cases. He works with Chapter 11 creditor committees and trustees concerning plans of reorganization and asset recovery. He litigates and has tried adversary proceedings involving dischargeability, preferences and claims objections.
Gary has also defended attorneys, accountants and financial advisors against claims of negligence, breach of fiduciary duty and intentional wrongdoing.
Prior to joining Gladstone Michel, he was a partner in Haight Brown & Bonesteel’s Los Angeles office.
Representative Experience:
- Defense of foreign government agency against alleged interference with contract. A domestic corporation with exclusive rights to re-transmission of foreign language programming alleged contractual interference and sought tens of millions in damages. A three-member AAA panel found in favor of client after a full hearing on the merits
- Defense of former officers/directors of a bankrupt corporation. Trustee asserted breaches of fiduciary duties and objected to proofs of claims. Matter settled with Trustee dismissing claims and clients retaining allowed claims against the estate
- Defense of farmers market operator. Former vendor alleged breach of joint venture agreement and other claims. Complaint dismissed on demurrer after lengthy procedural battle before trial, and affirmed on appeal
- Defense of machine manufacturer against breach of warranty claims. Buyer, who failed to pay balance due on DVD replication machine, alleged breach of warranties and damages. Unanimous jury verdict for client on all causes of action
- Defense of attorney accused of legal malpractice. Obtained summary judgment in favor of client on a class action lawsuit by hotel workers alleging failure to assert timely claims against various Los Angeles area hotels
Education
J.D., University of Southern California, 1987
B.A., Boston University, 1983
Presentations and Publications
Invited speaker at various bankruptcy conferences
Memberships
Los Angeles County Bar Association
American Bankruptcy Institute
Phi Alpha Delta Law Fraternity, International
Central District Consumer Bankruptcy Attorneys Association
Admissions
California
United States Bankruptcy Courts throughout California
United States District Courts throughout California