Michael M. Fay

Background

Michael M. Fay’s practice covers a broad spectrum of litigation involving complex financial products, bankruptcy, corporate governance, general commercial, insurance, and real estate matters. He is a member of the New York bar and has practiced law in New York for over 30 years.

Michael has represented Fortune 500 companies, numerous investment firms, hedge funds, financial institutions and other corporations in courts in New York, New Jersey, California, Delaware, Florida, Texas and several other jurisdictions. He also has extensive trial experience in both federal and state courts, as well as before arbitration panels.

In the 1990s, Michael represented a Fortune 500 company in “bet-the-company” litigation involving product liability cases pending throughout the United States. He was a lead attorney in two nationwide class actions and a nine-month arbitration that successfully resolved those actions.

Beginning in 2001, Michael represented a German bank in numerous matters, including in an action where he obtained a judgment against a group of sureties that had guaranteed finite re insurance transactions, and in the Enron bankruptcy and during the Enron examiner’s investigation. Michael was involved in some of the biggest bankruptcies of the 2000s: Enron, WorldCom, Global Crossing, Lyondell and Lehman.

Michael has extensive experience with litigation involving various structured finance products, including CDOs, CLOs, credit default swaps, leveraged agency and derivative investment instruments. Michael has also been highly successful in RMBS litigation, representing trustees in mortgage loan “put-back” litigation against loan originators and RMBS securitization sponsors. In June 2014, Michael defeated a motion to dismiss in four separate RMBS actions in a single decision that has become a standard in New York’s commercial courts.

Representative Matters

  • Successfully prosecuted accounting fraud action for bankruptcy trustee to favorable settlement.
  • Successfully prosecuted claims of investment funds in dispute over Pennsylvania power plant, resulting in favorable settlement for clients.
  • Prosecuted to a successful judgment claims against sureties in dispute arising out of finite reinsurance transactions.
  • Tried action to a plaintiff’s verdict before Texas jury in dispute over damage to industrial reactor.
  • Tried action before Missouri state regulatory commission, resulting in upward modification of rates for local distribution company.
  • Represented and obtained a very favorable settlement for MCI bondholders in WorldCom bankruptcy.
  • Represented financial institutions in Enron examiner investigation, avoiding any asserted liability and any exposure in the Enron “mega-claim” action.

Education

  • J.D., University of Virginia School of Law
    • Editor in Chief, Virginia Journal of Law and Politics
  • B.A., College of William & Mary

Clerkship

  • Law Clerk to the Honorable John A. Mackenzie, United States District Court for the Eastern District of Virginia

Admissions

  • New York
  • U.S. Court of Appeals, Second Circuit
  • U.S. Court of Appeals, Fourth Circuit
  • U.S. Court of Appeals, Ninth Circuit
  • U.S. District Court, Eastern District of New York
  • U.S. District Court, Southern District of New York