Michael J. Baratz

Partner

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Areas of Work

Commercial Litigation, Financial Services, Financial Services Litigation, International Arbitration

Overview

Michael Baratz focuses on all aspects of commercial litigation, arbitration, and mediation, as well as judgment enforcement, including many matters with a cross-border emphasis.

Complex Litigation and Arbitration

Michael regularly litigates all phases of commercial disputes in federal and state courts around the country through trial and appeal. He also frequently represents clients in proceedings before a variety of arbitral bodies, including the International Centre for Settlement of Investment Disputes (ICSID); the International Chamber of Commerce (ICC); the Zurich Chamber of Commerce (ZCC); the American Arbitration Association (AAA); and the Financial Industry Regulatory Authority (FINRA).

Judgment Enforcement

Michael represents clients in connection with their efforts to obtain recognition and enforcement of judgments and arbitral awards in courts around the world, and in seeking pre-judgment remedies in these matters.

District of Columbia
Maryland
Supreme Court of the United States
US Court of Federal Claims
US District Court, District of Columbia
US District Court, District of Maryland
US Court of Appeals, Second Circuit
US Court of Appeals, Fourth Circuit
US Court of Appeals, Seventh Circuit
US Court of Appeals, District of Columbia
US Court of Appeals, District of Columbia Circuit

J.D., The George Washington University Law School, 2002, with high honors; Order of the Coif; Associate, The George Washington Law Review; Imogen Williford Constitutional Law Award
B.A., The George Washington University, 1999, magna cum laude; Phi Beta Kappa; Joshua Evans III Prize in Political and Social Science

Areas of Work

Representative Matters

Michael was a member of a Steptoe team that represented ExxonMobil in connection with its worldwide effort to obtain compensation from PDVSA, the state-owned oil company of Venezuela, and its subsidiaries following Venezuela’s expropriation without compensation of an ExxonMobil subsidiary’s rights and interests in joint venture. The Steptoe team obtained a series of pre-award, attachment and freezing orders world-wide, including attaching over $300 million in cash in a proceeding in the United States District Court for the Southern District of New York.
Michael and a team of Steptoe lawyers helped US Airways, Inc. secure a $30 million award from a Financial Industry Regulatory Authority (FINRA) arbitration panel following 64 days of evidentiary hearings in New York City. US Airways filed the FINRA arbitration against Oppenheimer & Co., Inc. and one of its former managing directors for inappropriately investing the airline's funds in unsuitable auction rate securities (ARS) in 2006 and 2007.
Represented Brightstar Corp., one of the largest private telecommunications companies in the United States, in a dispute with its joint venture partner in an AAA arbitration including at an evidentiary hearing in support of a preliminary injunction.
Represented US Airways, Inc. in its efforts to recover corporate cash funds that its brokers Lehman Brothers, Inc. (LBI) and Oppenheimer & Co. Inc. invested in Auction Rate Securities (ARS), fixed-income products that failed in August 2007 and were unsuitable for US Airways' investment goals and risk profile, winning a $30 million award from a Financial Industry Regulatory Authority (FINRA) panel. This stands as one of the largest ARS awards for damages to date.
Represented US Airways in the Lehman Brothers bankruptcy proceedings before the US Bankruptcy Court and was able to secure from the bankruptcy estates payment on a FINRA award in favor of US Airways against former Lehman employees in the amount of $15 million.
Represented a major telecommunications provider in a £375 million product liability dispute under a GSM frame contract involving alleged defects in one of Europe’s largest GSM/GPRS networks.
Represented Motorola in an International Centre for Settlement of Investment Disputes (ICSID) arbitration against Turkey, which has seized Telsim, a Turkish telecom company that Motorola had obtained various judgments and arbitral awards against, which resulted in payments to Motorola of approximately $1 billion.
Representing ExxonMobil Corp. in an action brought against certain Cuban state-owned entities under the Helms-Burton Act in a groundbreaking case closely covered by Bloomberg and numerous media outlets; Representing King Ranch in a similar Helms-Burton Act Case.
Representing Credit Suisse in an adversary proceeding in bankruptcy court for the District of Maryland. TMST, the debtor, is seeking to clawback hundreds of millions of dollars paid to Credit Suisse and five other Wall Street banks. TMST was one of the leading public companies to securitize mortgage backed securities (MBS) and financed its purchases via repurchase agreements. When the financial crisis of 2008 occurred, the value of the MBS depreciated resulting in margin calls and liquidation of collateral. The claims against Credit Suisse are $295 million and Credit Suisse's proof of claim is $891 million.
Advised a consortium of foreign companies involved in a global dispute over control of a large, foreign telecommunications company, with proceedings in the Southern District of New York, the British Virgin Islands, Switzerland, Netherlands, and an ICC arbitration.
Represented Carmel Partners, a private owner of rental properties throughout the United States in six separate suits brought to the DC Superior Court for violations of the Tenant Opportunity Purchase Act (TOPA). Upon appeal, four cases were affirmed by the DC Court of Appeals and two reached out of court settlements.
Represented the trustee of a large, failed Bahamian bank with respect to winding up litigation.
Represented SourceHOV Holdings LLC in judgment enforcement litigation stemming from the merger that created Exela Technologies by securing a first-of-its-kind ruling from a Delaware vice chancellor who refused to dismiss a judgment creditor’s suit seeking traditional and "reverse" corporate veil piercing against Exela and its subsidiaries in order to collect on a nearly $58 million-plus-interest merger stock appraisal award. This matter was widely reported in the media, including Bloomberg Law, Law360, LevFin Insights and Reuters.
Converted ExxonMobil’s multibillion-dollar ICSID and ICC awards as against Venezuela and PDVSA into judgments in the Southern District of New York.
Led the Steptoe team that represented Motorola in its claims against the Uzan family, concerning fraudulent conduct in connection with a $2 billion loan. The team obtained a worldwide freezing order in the London commercial courts, which was affirmed by the English Court of Appeals; froze and liquidated assets worldwide; and obtained a fully contested fraud judgment for $2.13 billion in compensatory damages and a punitive damages judgment for $1 billion in federal court in New York City. These judgments were affirmed by the United States Court of Appeals for the Second Circuit. Steptoe successfully enforced the judgment and arbitral award in various countries throughout the world, including the United States, England, France, Switzerland, Germany, Israel, Bermuda, and Guernsey.

Speaking Engagements

"Digital Asset and Tracing – Onshore Vs Offshore," Offshore Disputes Week, Grand Cayman, 26 March, 2025
Webinar: Asset Recovery and Judgment Enforcement: A Focus on 2024 Trends in the US and UK (mondaq.com), May 14, 2024
"Asset Recovery And Judgment Enforcement: A Focus On The US And New Trends With An Assist From The UK," Webinar, March 1, 2023
"CUBA New Compliance Risks for Companies After Full Implementation of Title III of the Helms-Burton Act," 10th Annual New York Forum on Economic Sanctions, December 11, 2019
"Practical Steps if You Suspect Corruption or Fraud During a Case," 8th Annual GAR Live London, May 10, 2018
"International Dispute Resolution," Duke Energy, Charlotte, NC, March 3, 2015