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Sascha Rand is a partner in the New York office where his practice is focused on complex financial fraud and business tort litigation in federal and state court and in arbitration. Mr. Rand also litigates complex matters involving issues of bankruptcy, antitrust and intellectual property.
Mr. Rand has substantial experience litigating complex financial and commercial disputes including multi-district litigation actions and matters arising out of cross-border disputes and restructuring proceedings. Among other high profile financial fraud and business tort matters, Mr. Rand is representing the Federal Housing Finance Authority in its landmark actions against UBS, JP Morgan, Merrill Lynch, Citibank, Goldman Sachs, Barclays, and Bank of America, and other major banks. Mr. Rand was also responsible for multi-billion dollar litigation actions brought against the banks, auditors and other professionals in Enron, Parmalat, and Refco. His clients include bankruptcy and litigation trustees, creditors, hedge funds, venture capital firms, fortune 500 companies and high net worth individuals.
Benchmark Litigation has repeatedly identified Mr. Rand as a New York Litigation Star and a National Bankruptcy Litigation Star.
Appaloosa Management L.P.
Board of Directors of Interliant, Inc.
Elliott Associates L.P.
Federal Housing Finance Authority
Le-Nature's, Inc. Bondholders
MH Davidson & Co.
Mobius Venture Capital
Refco Litigation Trustee
Representing the Federal Housing Finance Agency in its landmark RMBS litigation against UBS, JP Morgan, Merrill Lynch, Citibank, Goldman Sachs, Barclays, and Bank of America, and other major banks arising from its Conservatorship for Fannie Mae and Freddie Mac. To date in 2013, after prevailing on critical procedural and appellate rulings and setting all cases for trial, FHFA has settled its actions against JP Morgan (for $5.15 billion, including the settlement of federal and state claims as well as separate contract claims), UBS (for $885 million), and Citi (confidential amount). Quinn Emanuel continues to litigate the remaining cases.
Obtained a $2.1 billion settlement in favor of Yosemite Trusts and investors resolving contract and fraud claims against Citibank and Enron relating to Enron credit-linked notes.
Obtained favorable settlements from strategic investor, management, outside counsel, auditor and others in connection with representation of the Refco Litigation Trust and Refco Private Actions Trust (successors to the bankruptcy estate of Refco Inc. and its subsidiaries and assignee of private creditor causes of action).
Represented globally recognized hedge fund in connection with multi-billion dollar litigation against Porsche arising out of the October 2008 Volkswagen short squeeze.
Represented sovereign wealth fund in multi-billion dollar arbitration against worldwide financial institution involving mortgage-backed instruments.
Obtained favorable settlements from bank and auditor in connection with representation of note purchasers of bankrupt beverage manufacturer Le Nature's, Inc.
Represented a leading mutual fund in a $40 million action against Citibank brought under the Pennsylvania Securities Act relating to Enron credit-linked notes.
Representing Dr. Enrico Bondi, Extraordinary Commissioner of Parmalat S.P.A in various actions against various financial institutions and accounting firms, for aiding and abetting Parmalat's insiders in the commission of massive fraud and for auditor malfeasance.
Represented the former officers and directors and various investors in litigation brought by a Creditors Committee arising out of the bankruptcy of Interliant, Inc., a publicly-traded technology company.
Represented high net worth individual in dispute with international bank concerning exotic currency options.
Represented a Florida homebuilder in billion dollar contract action.