Elaine McChesney focuses her practice on complex commercial litigation, with an emphasis on banking, complex financial transactions and commercial fraud.
Elaine has represented various financial institutions in a wide range of matters, including Articles 3, 4, 4A, 5 and 9 of the U.C.C., letters of credit, URC collections, OFAC and related trade sanction issues, securities cases, shareholder derivative suits, employment litigation and advice, tax litigation, and constitutional challenges to regulatory schemes. She has substantial arbitration experience (ICC, AAA, JAMS, FINRA and other self-regulatory organizations), has litigated challenges to arbitral awards under both the FAA and state equivalents, and has litigated issues regarding arbitrability of claims.
- Won an important appellate victory for financial institution in a claim alleging unfair trade practices under Chapter 93A
- Defended financial institution in $35 million wire transfer fraud
- Defended financial institution in $12 million letter of credit fraud
- Defended financial institution in $50 million dispute under revolving credit agreement, making new law under UCC Article 9-318 with respect to liability of assignee of accounts receivable
- Successful prosecuted claim for $150 million tax refund based on challenge to constitutionality of state bank tax statute and secured passage of new tax statute
- Defended financial institution in $200 million plus employment action
- Defended financial institution in $100 million plus class action WARN Act claim
- Defended financial institution in multimillion-dollar claim by former executives
- Defended multiple cases involving virtually every aspect of UCC Articles 2, 3, 4, 4A and 5, including letter of credit disputes, check-kiting, Reg. CC, wire transfers, forgeries, stop payment orders, trade acceptances, URC collections, FIRREA and Federal Export Control Laws
- Drafted Compliance Manual on Trade Services for major financial institution
- Successfully challenged to the constitutionality of a wide range of statutes and regulations for a number of clients in different industries
- Experienced in litigation regarding corporate structure and relationships, including breach of fiduciary duty claims, liability of parent for acts of subsidiary and the like
- Co-author, “Deciding Several Issues of First Impression,” National Law Journal (May 16, 2005)
- “Banks Duty to Pay on Expired Letter of Credit Upon Dissolution of Injunction Prohibiting Payment,” ABA Commercial Law Newsletter (August 2004)
- “Dragnet Clause Enforced as Written,” ABA Commercial Law Newsletter (August 2004)
- “Spoliation Analysis as a Function of Duty and Fault,” Boston Bar Journal (November/December 2003)
- Co-author, “Laying Down Principles on Foreign Arbitration,” National Law Journal (Oct. 20, 2003)
- “Encroachments by Title VII into the Principles of Affiliate Liability,” Commercial and Business Litigation Journal (Spring 2002)
- Co-author, Massachusetts Practice Series: Discovery (West, 2001 and annual supplements)
- Co-author, “More Than Part-Time: The Effect of Reduced-Hours Arrangements on the Retention, Recruitment, and Success of Women Attorneys in Law Firms,” Women's Bar Association (2000)
- “Drafting Effective Written Discovery,” MCLE Program: Drafting Effective Litigation Documents (1996, 1999)
- Co-author, Massachusetts Civil Practice: Discovery, Lawyers' Cooperative Practice Guide (1996)
- “Discovery in Financial Statement Fraud Cases,” MCLE Program: Accounting in the Courtroom (1995)
- “Damages from a Defendant's View in Distributorship Termination Cases,” MCLE Program: Damages in Commercial Disputes (1985)
- “Answers, Counterclaims and Third-Party Practice,” Fundamentals of Civil Litigation Preparation (1984)
- Co-author, “Recoverability of Punitive Damages in Employment-Related Cases, and Punitive Damages in Insurance Cases,” ABA Section of Litigation: Punitive Damages (Callaghan & Co., 1981)
- Super Lawyers, Massachusetts Top 50 Women (2005–2006)
- Super Lawyers, Massachusetts (2004–2009)
- American Bar Association, Labor Law Section (Subcommittee on Individual Rights in the Workplace) and Commercial/Financial and Banking Litigation Section (Subcommittee on Nominations)
- Massachusetts Bar Association
- Boston Bar Association, BBA Council (1994-1996), Law School Liaison Committee (1984–1985), Work/Life Balance Committee (2000–2004)
- BBA/MBA Joint Bar Committee on Judicial Nominations (1988–1990), Chair (1988–1990)
- Women’s Bar Association, Editor, Calendar; Board of Directors (1990–2005)
- Admitted to practice in Massachusetts
- Massachusetts Supreme Judicial Court
- U.S. Court of Appeals, First Circuit
- U.S. Court of Appeals, Sixth Circuit
- U.S. District Court, District of Massachusetts
- U.S. District Court, Western District of Kentucky
- U.S. Supreme Court
- Harvard Law School, Juris Doctor (1978)
- Western Kentucky University, Artis Baccalaureate (1975)