Michael A. Hanin’s practice focuses on complex commercial litigation in state and federal courts and in proceedings involving the Securities and Exchange Commission and the U.S. Department of Justice. His practice includes advising investment funds on potential litigation and other issues relating to their investments, particularly with respect to complex financial products, securitizations, financing, securities, real estate and accounting. Mike is counsel of record to multiple investment funds – including Waterfall Asset Management, Serengeti Asset Management, One William Street Capital, Angelo Gordon, Davidson Kempner Capital Management and Deer Park Road Corporation – in ongoing public litigation relating to commercial and residential mortgage-backed securities, CDOs, CLOs, and other structured products.
Mike has been recognized as a leading litigator by Chambers USA, The Legal 500 and Benchmark Litigation. He was named a Plaintiffs’ Lawyers Trailblazer by the National Law Journal. He has also been named an MVP of the Year for Structured Finance by Law360, a Litigation Star by Benchmark Litigation and included in Lawdragon’s 500 Leading Plaintiff Financial Lawyers in America.
Work Highlights
- A group of noteholders in the multi-billion dollar National Collegiate Student Loan Trusts, including Angelo Gordon, Waterfall Asset Management, One William Street Capital Management, and Libremax Capital, in litigations nationwide concerning the management and control of the Trusts, and as interested parties in CFPB enforcement proceedings against the Trusts.
- Cascade Funding, LP-Series 6, an affiliate of asset manager Waterfall Asset Management, in securing summary judgment on Cascade’s breach of contract claim against The Bancorp Bank relating to Cascade’s valid exercise of a “market out” clause in connection with the purchase of a pool of $900 million in mortgage loan assets for securitization in a CRE CLO.
- Investment vehicles associated with Carl Icahn, one of Wall Street’s most successful investors and activists, in a case in Nevada state court against Rialto Capital Advisors for breach of contract and fraud in connection with Rialto’s servicing of a commercial mortgage-backed securities (CMBS) trust secured by the Prizm Outlets mall in Primm, Nevada, which resulted in a loss of almost $73 million, plus almost $13 million in fees, the largest loss on a CMBS conduit loan since the 2008 financial crisis.
- Davidson Kempner Capital Management, Cowell & Lee, Autonomy Capital, Hutch Capital, and other holders of $550 million in senior notes issued by China Fishery Group in connection with disputes arising from the bankruptcy of certain entities related to China Fishery Group, one of the world’s largest fishing companies.
- A cryptocurrency trading platform in connection with the SEC’s lawsuit against Ripple Labs alleging that XRP is a security, and accusing Ripple of engaging in a multi-billion dollar unregistered securities offering.
- Multiple investment funds in various trust instruction proceedings, Article 77 proceedings, and interpleader actions across the country brought to resolve disputes relating to structured finance vehicles.
- Howard Meyers, the Chairman of Eco-Bat Technologies, the world’s largest producer and recycler of lead, in actions for purported breach of contract, fraud, racketeering, and other alleged misconduct brought by a number of investment funds concerning a €600 million payment in kind loan that later was securitized and sold to investors.
- San Felasco Nurseries, a licensed medical marijuana company now part of international cannabis company Harvest Health and Recreation, in a series of legal battles with its Colorado-based franchisor. After defeating the franchisor’s attempts to obtain emergency injunctions at hearings held before the American Arbitration Association and the District Court of Denver, Colorado, the Colorado court dismissed the franchisor’s underlying action against SFN in its entirety and awarded SFN attorneys’ fees. The Colorado Court of Appeals unanimously affirmed the trial court’s decision in its entirety.
- The Federal Housing Finance Agency (“FHFA”), as conservator for Fannie Mae and Freddie Mac, in several actions in federal and state courts against numerous financial institutions arising out of defendants’ misrepresentations concerning residential mortgage-backed securities sold to Fannie Mae and Freddie Mac. In 2014, after completing discovery, prevailing on several critical pre-trial rulings and setting the case for trial, FHFA settled its action against Morgan Stanley for $1.25 billion.
- A leading investment company in an action against a Trustee and Sponsor arising out of the termination of a CDO.
- A leading financial institution in an adversary proceeding against FriendFinder Networks for failure to pay advisory fees.
- An international bank pursuing claims against AIG in connection with collateralization obligations under leveraged lease transactions.
- A leading financial institution in class and individual securities actions arising out of the demise of Lehman Brothers Holdings.
- A leading financial institution in multiple disputes arising out of the termination of guaranteed investment contracts tied to municipal bond offerings.
- A foreign broker-dealer in an adversary proceeding brought by the Securities and Exchange Commission, including the successful appeal of the SEC's decision to the Court of Appeals for the D.C. Circuit.
- A leading investment company in an action against affiliates of the Reserve International Liquidity Fund, a $3.5 billion money-market mutual fund that "broke the buck."
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