Previous PageRichard H. Herold Partner

Richard Herold has more than two decades experience representing and providing services to clients in complex commercial litigation matters and related counseling aimed at preventing litigation. He has significant trial experience, in addition to appeals, mediations and arbitrations.

Richard has litigated cases throughout the United States in a variety of areas, including banking and financial litigation, commercial litigation, real estate litigation, employment litigation, securities litigation, corporate and partnership disputes and related director and officer litigation, and professional liability defense.

He has handled cases in Arizona, California, Georgia, Illinois, Nevada, New Jersey and New York involving commercial bank litigation, including contractual breaches (and loan workouts), related fraud claims, trustee’s sales, receivership applications and related expedited bankruptcy matters, including motions to appoint trustees, stay relief motions and non-dischargeability complaints.

Representative Matters

Banking & Financial Litigation

  • Unanimous jury verdict after a seven-day trial for bank client accused of fraud by guarantor
  • Successful prosecution of expedited applications for receivers to aid banks in protecting and preserving their collateral, including rental income, on numerous commercial loans and properties
  • Successful prosecution of numerous bankruptcy matters, including motions for stay relief and/or seeking to appoint a trustee and related expedited discovery and evidentiary hearings
  • Payment in full in the bankruptcy of a national seller of timeshares, extending to some $4 million and payment of all counsel fees and costs, despite challenges in identifying and appraising the collateral
  • Successful three-day evidentiary hearing in Arizona in furtherance of a request for a temporary restraining order (TRO) and preliminary injunctive relief to enforce a non-solicitation agreement and protect trade secrets on behalf of a national franchisor
  • Successful pre-judgment attachment of funds in Arizona and full recovery for an individual defrauded by an Arizona business seller who misrepresented corporate liabilities at the time of acquisition, including recovery of 100 percent of the client’s counsel fees and costs
  • Dismissal of Fair Credit Reporting Act claims in federal district court in Nevada on behalf of a national bank
  • Dismissal of lender liability claims in Arizona and Illinois by motions to dismiss on behalf of national banks
  • Defense in Arizona of a national franchisor (with its focus on lending) against allegations that certain liabilities had been assumed pursuant to a merger, resulting in a dismissal of the complaint and payment of 100 percent of the client’s counsel fees and costs

Complex Commercial & Employment Litigation

  • Defense of a $25 million breach of contract/lost profits case filed in California arising from a sale of machinery, allegedly for ultimate resale to an entity in China, resulting in a $15,000 settlement at the start of a nine-day trial
  • Summary judgment in favor of a national insurer in Arizona on a statute of limitations issue under a New York choice-of-law provision
  • Successful Arizona prosecution of claims under the Lanham Act and Arizona Trade Secrets Act by a request for a TRO and preliminary injunctive relief for a national franchise organization, leading to a favorable settlement

Real Estate

  • Successful defense in Arizona of a pre-judgment garnishment request on behalf of an Arizona developer, leading to a plaintiff’s withdrawal of the request and an agreement to dismiss the case in its entirety
  • Defense of a $5 million claim in Arizona on behalf of a national real estate broker, leading to plaintiff completely abandoning all claims two days before the start of an eight-day trial before an American Arbitration Association panel

Professional Liability Defense

  • Successful defense of a $3 million legal malpractice claim resolved favorably with a de minimis settlement payment
  • Successful defense in a one-day evidentiary hearing of an alleged ethics violation by an Arizona real estate salesperson, resulting in decision by the Arizona Real Estate Board completely vindicating the salesperson

Education

  • George Washington University School of Law (J.D., 1990)
  • Emory University (B.A., 1986)

Court Admissions

  • Supreme Court of Arizona
  • United States District Court, District of Arizona
  • United States Court of Appeals, Ninth Circuit

Professional Memberships & Activities

  • State Bar of Arizona
    • Fee Arbitration Committee, Member (2005-present), Chair (2008-2011)
    • Ethics Committee (2010-present)
  • Maricopa County Bar Association
  • American Bar Association
  • New Jersey, District XIII, Ethics Committee (1996-1997)

Representative Presentations & Publications

  • Real Property Management and Leasing in the Wake of a Trustee's Sale, Co-Presenter, MCBA Real Estate Series CLE Presentation (February 2012)
  • Current Developments in Ethical Issues, Panelist, State Bar of Arizona's Ethics Committee-Hosted Seminar addressing Ethical Rule 4.4 and related opinions issued by the State Bar of Arizona's Ethics Committee and the American Bar Association regarding the obligations of counsel when privileged communications are inadvertently disclosed (December 14, 2011)
  • Managing Your Practice, Presenter, 2010 State Bar of Arizona Annual Convention, Glendale, AZ (June 2010)
  • Taming the Tumult: Law Practice Management Tips from the Trenches, Presenter, State Bar of Arizona CLE, Phoenix, AZ (September 2009)
  • Risk Management for Litigators, Presenter, Hinshaw CLE Presentation, Chicago, IL (October 2008)
  • How to Make Money Ethically: Tips for Attorneys in Fee Arbitration Hearings, Presenter, State Bar of Arizona CLE, Phoenix, AZ (August 2007)
  • Arbitration Provisions May Inadvertently Waive Indian Tribes’ Sovereign Immunity, Author, Maricopa Lawyer (May 2002)
  • Putting Together a Successful Mediation, Author, Maricopa Lawyer (March 2002)
  • Cost-Effective Business Litigation in Arizona, Speaker, Lorman Education Services (October 2001)
  • The Americans With Disabilities Act: Litigation Risks and Preventive Measures, Presenter, Somerset County Chamber of Commerce, Somerset, NJ (June 1996)
  • Hiring, Testing, Supervising and Terminating Employees in Safety-Sensitive Positions: Legal Issues Arising Under the Department of Transportation’s Drug and Alcohol Testing Regulations, The Americans With Disabilities Act, The Family and Medical Leave Act and Related Federal and New Jersey State Law Requirements, Presenter, Somerset County Chamber of Commerce and the Governor’s Council for a Drug-Free Workplace, Somerset, NJ (April 1996)

Professional Recognition & Awards

  • Arizona’s Finest Lawyers (2011)

Community Involvement

  • Valley of the Sun United Way, Resource Management Committee (October 2011-present)
  • Economic Club of Phoenix (September 2011-present)
  • Phoenix Chamber of Commerce
  • Junior Achievement of the Central District of Arizona, Board of Directors (2006-2008)
  • State Bar of Arizona’s Operation Good Neighbor Program, Volunteer
  • United Way of Somerset County, New Jersey, General Counsel and Trustee (1993-1996)

Other Professional Experience

  • Hinshaw & Culbertson LLP, Partner
  • Judge Pro Tempore, Maricopa County Superior Court
  • McCarter & English, LLP, Associate