S. Elaine McChesney

Partner

Boston Phone +1.617.951.8501 Fax +1.617.951.8736

One Federal St.//Boston, MA 02110-1726//United States

Elaine McChesney focuses her trial and appellate practice on commercial litigation, with an emphasis on banking, complex financial transactions, and commercial fraud. She represents financial institutions in a wide range of matters, including Articles 3, 4, 4A, 5, and 9 of the U.C.C., letters of credit, consumer class actions, credit card disputes, Ponzi and other fraudulent schemes, shareholder derivative suits, employment litigation, trust and fiduciary functions, tax litigation, and constitutional challenges to regulatory schemes.

In addition to her trial and appellate experience, Elaine is skilled in arbitration matters (ICC, AAA, JAMS, FINRA), litigates challenges to arbitral awards under both the FAA and state equivalents, and litigates issues regarding arbitrability of claims. Before joining Morgan Lewis, Elaine was a partner in the financial institutions regulatory, enforcement, and litigation practice at another international law firm.

selected representations

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

Awards and Affiliations

Leading Lawyer, Dispute resolution: Financial services: litigation, The Legal 500 US (2021, 2022)

Recommended, Dispute resolution: Financial services: litigation, The Legal 500 US (2018–2020)

Top Woman Lawyer, The Best Lawyers in America (2016–2018)

Recognized, Commercial Litigation, Boston, The Best Lawyers in America (2014, 2015, 2017–2023)

Recognized, Massachusetts Super Lawyers (2004–2019)

Top 50 Women, Massachusetts Super Lawyers (2005–2006, 2013)

Member, American Bar Association, Labor Law Section (Subcommittee on Individual Rights in the Workplace) and Commercial/Financial and Banking Litigation Section (Subcommittee on Nominations)

Member, Massachusetts Bar Association

Member, Boston Bar Association, BBA Council (1994–1996), Law School Liaison Committee (1984–1985), Work/Life Balance Committee (2000–2004)

Member, BBA/MBA Joint Bar Committee on Judicial Nominations (1988–1990), Chair (1988–1990)

Women’s Bar Association, Editor, Calendar; Board of Directors (1990–2005)