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Zachary Rosenbaum chairs the firm's Capital Markets Litigation group. He has a multi-state and international trial practice, focusing on business fraud matters, including securities and structured finance litigation, derivatives litigation, real estate and subprime mortgage lending litigation, secured and unsecured financing matters, and bankruptcy litigation. Mr. Rosenbaum has developed a specialty in litigating actions on behalf of institutional investors, both foreign and domestic, involving collateralized debt obligations (CDOs) and credit default swaps, among other derivative and structured transactions. He also routinely conducts arbitration proceedings in domestic and international disputes. He represents a number of financial institutions as well as investment managers, hedge funds and private equity funds.
Mr. Rosenbaum was featured on National Public Radio (NPR) in a segment about securities fraud actions in the wake of the global financial crisis and bond insurer MBIA's $5.7 billion suit against Merrill Lynch. He was recognized as "Forty Under 40" by NJBiz magazine in 2006 for his outstanding achievement and commitment to business growth and recognized in the 2011 edition of New York Super Lawyers.
Recent Representative Cases
- Won dismissal of a $1.875 billion claim brought in New York by financial guarantor FGIC against client IKB Deutsche Industriebank. FGIC was attempting to rescind a financial commitment issued in the United Kingdom as loss protection to a structured vehicle; the matter involved a complex array of credit default swaps and underlying CDO assets.
- Defended claims of ratings fraud in connection with the 2007 launch of a Structured Investment Vehicle (SIV).
- Defeated arbitration claim brought against institutional investors by an international investment bank stemming from three contemplated CDO transactions, totaling $1.5 billion, clearing the way for a substantial damage claim prosecuted in the New York Supreme Court.
- Representation of CDO noteholders regarding the collateral manager's and trustee's interpretation of the Indenture's waterfall provision.
- Defeated claims brought against investment fund, which arose from a $60 million loan transaction.
- Jury trial successfully prosecuted in the Southern District of New York on behalf of a minority shareholder in a large privately held company.
Speaking Engagements
- "Effectively Managing Increased Litigation and Enforcement," ABS East Conference 2011, October 2011
- "Challenges Facing Trustees in the Default and Enforcement Process," Global ABS 2011 Conference, June 2011
- "The Aftermath of the Financial Crisis: Part 3 - The International Credit Crisis and CDO Litigation: The View from the SEC and the Banks," American Bar Association's Section of International Law 2011 Spring Meeting, April 2011
- "Effectively Managing Increased Litigation and Enforcement," ABS East Conference, October 2010
- "Investor Rights and the Importance of Proper Documentation," Global ABS 2010 Conference, June 2010
- "Strategies for Investors, Issuers and Trustees to Pursue and Defend CDO Claims," Collateralized Debt Obligation Litigation on the Rise Webinar, March 18, 2010
- "Effectively Managing Increased Litigation and Enforcement," IMN ABS East Conference, October 2009
- "Recent Judicial Developments Affecting Subprime and Structured Finance Litigation," IQPC, Co-Chair, Subprime and Structured Finance Litigation Conference, November 2008
- "Debating the Future of the CDO," IQPC, The Subprime Mortgage Crisis Summit, February 2008
- "CDO Due Diligence," IncreMental Advantage, Hedge Fund Due Diligence Seminar, October 2007
- "American Conference on Diversity, Humanitarian Awards Dinner," Keynote Address, June 2007
- "National Conference for Community and Justice (NCCJ-NJ), First Annual Essex County Chapter Humanitarian Awards Dinner," Keynote Address, June 2006
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Capital Markets Litigation Client Alert: Court Order Permits Discovery Regarding BofA $8.5 Billion RMBS Settlement
Capital Markets Litigation Client Alert, August 2011
Zachary Rosenbaum,
Donald Corbett,
Jonathan Wishnia,
Scott Walker
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Capital Markets Litigation Client Alert: BofA Settlement Information
Capital Markets Litigation Client Alert, July 1, 2011
Zachary Rosenbaum,
Donald Corbett,
Jonathan Wishnia,
Scott Walker
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Recovering From The Subprime Crisis: Is a Rating Merely an Opinion?
The Metropolitan Corporate Counsel, March 2008
Zachary Rosenbaum
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Zachary Rosenbaum comments on investors' frustration regarding the unwillingness of some RMBS trustees to investigate and pursue mortgage "put-back" claims.,
Global ABS Daily, June 14, 2011
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Zachary Rosenbaum comments on securities fraud and bond insurer MBIA's suit against Merrill Lynch.,
National Public Radio (NPR), May 13, 2009
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Zachary Rosenbaum is highlighted for winning the dismissal of a $1.875 billion claim stemming from a complex structured transaction centered in Europe.,
The AmLaw Daily, January 13, 2009
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New York Law School
(J.D., 1994),
magna cum laude, The New York Law School Law Review, Editor, 1993-1994
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University of Maryland
(B.S., 1990)
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New Jersey
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New York
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U.S. Supreme Court
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U.S. District Court, District of New Jersey
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U.S. District Court, Southern District of New York
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U.S. District Court, Eastern District of New York
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- Founding Chair, American Conference on Diversity, Essex County, New Jersey Chapter
- Board Member, PAX, Real Solutions to Gun Violence
- Board Member, R Baby Foundation
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