Overview
(April 14, 2016, Washington, DC) — Law360 has named Michael Baratz a Rising Star in International Arbitration. In a profile published April 12, the editors write that Mr. Baratz “has consistently found himself at the forefront of the firm’s high-profile international arbitration caseload, highlighted by the dogged pursuit of a $1.6 billion award on behalf of ExxonMobil and a $30 million win for US Airways.”
The profile notes that Mr. Baratz has been especially active in Steptoe’s representation of ExxonMobil Corp. in the company’s multiyear battle against a Venezuelan state-owned oil firm highlighted by the company’s attempts to get the South American nation to honor a $1.6 billion judgment by the International Centre for the Settlement of Investment Disputes. The effort to enforce the judgment has moved the case to New York federal court and the Second Circuit, underscoring the challenges of litigation against a foreign sovereign.
“The entire backbone of the international investment system was that there would be a fair forum to resolve these disputes and that the sovereign would pay at the end of the day,” Mr. Baratz tells Law360. “That presumption has not borne out in reality, and you are seeing more and more efforts to enforce against sovereigns. That is a particular challenge but one we have had a lot of success with.”
For US Airways, Mr. Baratz helped the airlines 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 FINRA arbitrations against Oppenheimer & Co., Inc., individual brokers from Lehman Brothers, Inc., and other broker-dealers for inappropriately investing the airline's funds in unsuitable auction rate securities.
The list of Rising Stars recognizes individuals under 40 whose legal accomplishments in their respective fields belie their age. A team of Law360 editors arrived at the list of Rising Stars after carefully reviewing more than 1,100 submissions.
The full profile on Mr. Baratz can be read at Law360 (subscription required).
About Steptoe
Steptoe & Johnson LLP is an international law firm widely recognized for vigorous advocacy in complex litigation and arbitration, successful representation of clients before governmental agencies, and creative and practical advice in guiding business transactions. The firm has more than 500 lawyers and other professionals in offices in Beijing, Brussels, Century City, Chicago, London, Los Angeles, New York, Palo Alto, Phoenix and Washington. For more information, visit www.steptoe.com.
