Squeezing Silver: The Trial of Nelson Bunker Hunt

Famed Nelson Bunker Hunt, Mahmoud Fustok - brother in law to Crown Prince (later King) Abdullah of Saudi Arabia - and with others manipulated silver prices from $9 to $51 in four months in 1979-80 while meeting at thoroughbred horse events, five-star hotels and posh restaurants. When prices crashed three months later, and the Hunt family defaulted on debts, their defaults threatened the US economy with collapse. Paul Volcker, Chairman of the Federal Reserve Board, engineered a highly controversial bail out of Bunker Hunt to save the US economy. Squeezing Silver is a legal thriller that takes the reader inside the courtroom of one of the most important trials of recent decades, which chronicled the near collapse of the US economy.

Mark A. Cymrot is the Leader of BakerHostetler LLP's international arbitration and litigation practice. He was the lead lawyer in the trial that led to Squeezing Silver, Minpeco SA v. Nelson Bunker Hunt, which was tried for six months in New York federal court in 1988. He is an author of more than 30 book chapters and articles and frequent speaker on topics drawn from his illustrious career as counsel in US lawsuits and international arbitration and as an arbitrator. He defended Peru in $10billion commercial debt lawsuits brought by major fi nancial institutions worldwide and in a case involving a reward claim for the capture of Vladimiro Montesinos, the infamous Peruvian head of the security services; he tried and won a jury verdict against the Brunei Investment Agency and Prince Jefri Bolkiah, represented Puerto Rico's largest newspaper, El Nuevo Dia, in a civil rights lawsuit against the Governor for attempting to suppress free speech, and defended the Fulton Fish Market Cooperative in the case that determined whether the market would move from Manhattan to the Bronx. He has defended the International Monetary Fund, World Bank, and the High Representative of Bosnia and Herzegovina on immunities issues. He serves on the CPR President's Advisory Council and is an advisor to ALI's Restatement (Fourth) of Foreign Relations Law. He was special litigation counsel in the Civil Division of the Justice Department. He is ranked in Chambers Global and Th e Best Lawyers in America (International Arbitration Commercial and Governmental) and is listed in Who's Who in America.

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