Scott is a problem solver. His more than 40 years of experience in trials, arbitrations, and mediations allows him to effectively and efficiently counsel clients through difficult lawsuits and find the best resolution for them.
For the last 25 years, Scott’s practice has been focused on representing banks and their officers and directors. Scott has defended banks in class actions, represented officers and directors in failed bank litigation, and defended banks and their officers and directors in merger-related matters.
Scott has also defended banks and officers and directors in enforcement actions brought by the SEC, FDIC, OCC, and state bank regulators.
Scott advises corporate boards on internal investigations and conducts such investigations. He also works with corporate boards to ensure that claims are covered by directors' and officers' liability insurance.
Scott has served as a court-appointed receiver at the request of the SEC in a case of fraud by a private equity firm (United States Securities and Exchange Commission v. AA Capital Partners, Inc. et. al.)
Scott also devotes time to pro bono matters. He has represented immigrants seeking asylum and prisoners seeking medical relief. Scott also worked with Northwestern University Pritzker School of Law to obtain a reduced sentence for an individual who had been sentenced as a juvenile to life without parole.
- State of Illinois
- State of California
- U.S. District Court for the Northern District of Illinois (Trial Bar)
- U.S. District Court - Northern District of Illinois
- U.S. District Court - Central District of Illinois
- U.S. District Court - Southern District of Illinois
- U.S. District Court - Western District of Michigan
- U.S. Court of Appeals - 2nd Circuit
- U.S. Court of Appeals - 7th Circuit
- Northwestern University Pritzker School of Law, J.D., 1979
- Northwestern University, B.A., 1976
- Scott obtained dismissal of a first amended complaint alleging that one of BFKN’s bank clients was unjustly enriched because $3.6 million had passed through one of its customer’s accounts. The federal district court for the Eastern District of Wisconsin granted the motion to dismiss filed by Scott and found that plaintiff failed to plead a claim for unjust enrichment against our bank client. See BMO Harris Bank NA v Berkovitz, No. 20-cv-00546, E. D. Wis.
- Scott and the BFKN team negotiated a favorable settlement for a bank client that had been sued in the $3 billion litigation resulting from the Chicago Tribune leveraged buyout. The settlement followed the team obtaining dismissal on January 23, 2019 of the Tribune’s litigation trustee's complaint alleging breach of fiduciary duties and unjust enrichment. In re Tribune Company Fraudulent Conveyance Litigation, S. D. N. Y.
- Scott obtained the dismissal of an enforcement action filed by the Illinois Secretary of State, Securities Department, against American Metro Bancorp, Inc. The Securities Department filed a notice of charges alleging that American Metro Bancorp had violated the Illinois Securities Law in the sale of American Metro Bancorp's stock. Scott filed a motion to dismiss the action and the Securities Department voluntarily dismissed the action.
- Scott obtained a favorable result in a stockholder appraisal involving some former shareholders of Bank of Coral Gables (Florida). Scott filed a declaratory judgment action on behalf of First American Bank Corporation in the Circuit Court of Miami-Dade County against the dissenting shareholders. The case was resolved with a payment to the dissenting shareholders that did not exceed the merger price offered by First American Bank Corporation. First American Bank Corporation v Lopez-Cantera, et. al, No. 15-005175-CA-01.
- Scott obtained a favorable settlement and dismissal for a former director of Integra Bank in a suit brought by the FDIC. Federal Deposit Insurance Company v Vea, et. al, No. 3:14-cv-00104, Southern District of Indiana.
- The Iowa Supreme Court affirmed a jury verdict in favor of Quad City Bank & Trust. Scott represented the Bank in obtaining a jury verdict in favor of the Bank and against the defendant based on legal malpractice. Scott succeeded in the post-trial motions and obtained a judgment for the Bank on the jury verdict. Quad City Bank & Trust v. Elderkin & Pirnie.
- The Central District of Illinois issued an opinion in The Gifford State Bank v. Richardson, a favorable decision for Illinois banks and mortgage companies. Scott wrote an amicus brief for the Illinois Bankers Association.
- As the receiver for AA Capital Partners, Scott recovered over $22 million for the receivership estate to benefit the AA Capital customers that had been victimized by the theft of their funds by one of the principals of AA Capital. Scott obtained the $22 million by recovering insurance proceeds, successfully suing the officers and directors of AA Capital, settling claims against AA Capital's auditors, and tracing stolen funds used to purchase homes, cars, and jewelry.
- Local Litigation Star, Benchmark Litigation (2019-2023)
- Top Rated Lawyer, Banking & Finance Law, LexisNexis® Martindale-Hubbell™ and ALM (2013)
- Arbitrator, National Futures Association
- Phi Beta Kappa