Michael M. Krauss

Michael Krauss, a former Assistant United States Attorney for the Southern District of New York, advises banks, institutional trustees, and investors on an array of complex financial disputes, as well as corporate trust and structured product matters, including residential mortgage-backed securities litigation and actions alleging breach of trust. Michael also represents banks and other creditors to enforce remedies and defend counterparty claims. He routinely litigates disputes arising from insolvencies, particularly in matters where a business's collapse was brought about by criminal fraud. Michael has deep litigation experience in the highly-regulated field of tribal gaming finance.

As an Assistant United States Attorney, Michael tried multiple cases to verdict and argued more than 10 appeals before the Second Circuit. Michael has also handled pro bono matters related to asylum, guardianship, and criminal appeals.

Experience

Bank and Investor Litigation Experience

• Won, at trial, the dismissal of a $39 million claim under the anti-tying provisions of the Bank Holding Company Act.°

• Won multiple judgments and reached settlements for lenders and lessors on a wide range of commercial real estate financing, equipment leasing, and asset-based lending, including the dismissal of lender liability counterclaims.°

• Obtained a settlement for full recovery on behalf of an international commodities trader in a federal suit for breach of coal purchase and sale contracts.°

• Defended multiple actions against lead lenders on participants' claims of breach of representations and warranties, fraud, and breach of fiduciary duty.°

• Defended multiple securities fraud actions against public companies, officers and directors, and underwriters.°

Insolvency and Bankruptcy Experience

• Won, at trial, an order ousting management for fraud and appointing a Chapter 11 trustee in Delaware bankruptcy court within weeks of the petition date.°

• Obtained a $42 million settlement on behalf of the receiver of an insolvent subprime construction finance company on claims of fraudulent transfer and breach of fiduciary duty.°

• Obtained the maximum available settlement for a bank against an investment advisory firm whose employee raided pension accounts.°

• Defended breach of fiduciary duty claims in the Delaware Court of Chancery arising out of Refco's collapse and resulting bankruptcy case.°

• Defended a loan originator in a federal multi-district litigation against numerous claims arising out of Le-Nature's collapse and resulting bankruptcy case.°

Tribal Gaming Finance Experience

• Won, at two trials, separate multimillion-dollar arbitration awards for a lender against a tribe for breaches of a casino loan and an equipment lease.°

• Won multiple unanimous decisions of the Oklahoma Court of Civil Appeals affirming arbitration awards and related enforcement efforts.°

• Won a decision of the Washington Supreme Court holding that a tribe had waived its immunity and could be sued for breach of a loan agreement.°

• Obtained a multimillion-dollar settlement for a casino developer in North Dakota, following arbitration and concurrent tribal court proceedings.°

• Obtained a multimillion-dollar settlement for a lender against a tribe in Washington, following concurrent proceedings in federal and state courts.°

• Won a preliminary injunction against a tribal gaming commission, barring it from taking any action that would adversely affect the lender's contract rights.°

°The above representations were handled by Mr. Krauss prior to his joining Greenberg Traurig, LLP.

Government Experience

• Assistant United States Attorney, United States Attorney’s Office for the Southern District of New York, 1999-2003

Corporate Trust and Structured Products Experience

• Obtained, after trial in the Delaware Court of Chancery, a $155 million settlement of a fraudulent transfer and breach of indenture claim against the issuer on behalf of the indenture trustee, a leading national bank.°

• Obtained judgment in New York state court for a leading national bank as indenture trustee for holders of $80 million of corporate bonds as a result of the issuer's misuse of asset sale proceeds.°

• Lead defense counsel to a national bank and its affiliate as trustees of reinsurance trusts and unit investment trusts in multiple actions in federal district court and the Delaware Court of Chancery.°

• Lead trial counsel to a leading national bank in an action to resolve the disputed calculation and distribution of payments to holders of an RMBS trust.°

• Lead defense counsel to a leading national bank as indenture trustee on a municipal bond issuance in an action alleging breach of indenture and breach of fiduciary duty.°

• Regularly represents leading national banks in RMBS litigation in their capacities as trustee, custodian, master servicer, and/or securities administrator.°

Recognition & Leadership

Awards & Accolades

• Listed, Super Lawyers Magazine, Minnesota Rising Stars, 2008-2009, 2012

Professional & Community Involvement

• Member, Ronald McDonald House Charities Twin Cities, Board of Directors, 2011-2016

Clerkships

• Hon. Eric L. Clay, U.S. Court of Appeals for the Sixth Circuit, 1998-1999