Michael Rosow
Partner
Overview
Michael Rosow is a partner in Maslon's Financial Services Group who represents clients in loan workouts, creditor remedies, and bankruptcy; financial services litigation; and real estate litigation. He enjoys tackling highly complex cases that require his zealous advocacy in the courtroom, as well as completing transactional work in partnership with banks and other financial institutions to ensure they accomplish their business goals.
Michael has deep experience guiding workout professionals to implement collections processes and determining how best to enforce their rights as creditors. He also works on the collection of unsecured notes, the enforcement of secured loans, and the acquisition of assets of distressed companies.
His fluency with the business goals of financial institutions makes Michael a sought-after partner in complex bank-related litigation. He has represented clients in all manner of bank disputes, including lender liability claims, counter claims against financial institutions, coercion claims, and fraudulent inducement. He also has in-depth experience with Ponzi schemes, mortgage foreclosures, receiverships, and claim and delivery, including cases involving bankruptcy.
Michael's familiarity with real estate foreclosures has led him to represent property owners, developers, and lenders on a variety of matters, including purchase and sale disputes, boundary disputes, title insurance disputes, and mechanic's liens.
In all matters, Michael takes pride in ensuring clients understand not only the legal process but the implications of any decisions, including the cost of litigation, so that they can take the actions that best suit their goals.
Outside of work, Michael enjoys endurance sports; he has completed three Ironman triathlons, 10 marathons, several ultramarathons, and has run across the Grand Canyon and back. He is also involved in his two sons' sports and Scouting activities.
Michael earned his law degree, magna cum laude, from the University of Minnesota, where he was awarded the Order of the Coif.
Experience
Loan Workouts, Creditor Remedies, & Bankruptcy Representation
- Represented a bank in connection with a failed historic tax credit project. The matter ended with the bank foreclosing on the property and having an affiliate become the federal tax credit investor. Along the way, we had a receiver appointed, completed the renovations at the property, and obtained the dismissal of two bankruptcy filings by the borrower group.
- Represented a local bank in connection with a mortgage foreclosure matter involving multiple appeals to the Minnesota Court of Appeals and Minnesota Supreme Court. Successfully defended the priority of the bank’s mortgage against a junior creditor and defeated multiple lender liability claims asserted against the bank.
- Successfully represented a secured lender in a two day evidentiary hearing objecting to the debtor’s use of cash collateral and seeking relief from the automatic stay. The debtor had transferred substantial real estate assets on the eve of filing for bankruptcy and the parties had significant disagreements about the value of the real estate.
- Successfully represented a secured lender in having the borrower’s bankruptcy proceeding dismissed so that the lender could proceed with its state court foreclosure rights.
- Successfully tried an adversary proceeding objecting to a debtor’s discharge. The debtor had transferred significant assets on the eve of filing for bankruptcy and had filed materially false schedules and statements with the bankruptcy court.
- Represented secured lender in contested Chapter 11 cash collateral hearing involving a printing company which projected significant erosion of cash, inventory and account receivable levels early in the bankruptcy case. Obtained favorable cash collateral order which constrained the borrower’s ability to spend cash and erode collateral value.
- Represented loan servicer in bankruptcy proceeding with mortgages and liens on approximately 40 convenience stores. The borrower’s efforts to confirm a cram-down plan of reorganization were defeated, which led to an agreed-upon 363 sale where each of the convenience stores was sold at public auction and the secured lender acquired one store through credit bid.
- Represented special servicers of CMBS loans on all aspects of commercial real estate loan workouts. Properties have included office, industrial, multi-family, warehouse, gas stations, convenience stores, and hotels.
- Represented secured lender liquidating a large portfolio of loans to numerous home builders and residential real estate developers. Collateral included vacant lots, numerous spec homes, condominiums and properties involving homeowners associations. Remedies exercised on behalf of the lender included judicial foreclosures, foreclosures by advertisement, voluntary foreclosure agreements, deeds in lieu of foreclosure, deeds in escrow, reduction of redemption period to five weeks for vacant properties, and receivership.
- Represented a lead bank in connection with a foreclosure on a senior cooperative and in connection with a suit brought by participant banks. The matter included litigation in state court, bankruptcy court, and federal court.
- Executed and recovered various unusual items of collateral, including show-horses, wholesale live-fish inventory, sports memorabilia, boats, snowmobiles, and certificated stock.
- Represented a group of secured creditors in purchasing the assets of a multi-national technology company out of an assignment for the benefit of creditors. The creditor group was successful in obtaining the key assets without significant further cash outlays.
- Represented strategic and financial buyers in section 363 bankruptcy sales. Acquired assets have included equipment, intellectual property, and real estate.
- Represented a secured creditor and landlords in separate restaurant bankruptcy proceedings. Dealt with issues including use of cash collateral, DIP financing, assumption and assignment of leases, sale of assets, and confirmation of liquidating plans.
- Represented secured creditor in assignment for the benefit of creditor proceeding. Worked with the assignee to get the secured lender paid in accordance with the loan documents. The secured creditor obtained a full recovery.
Financial Services Litigation
- Represented multiple creditors in the bankruptcy and federal district court proceedings that arose in the wake of Tom Petters’ $3.5 billion Ponzi scheme, including the first major creditor to enter into a significant settlement agreement with the Petters’ trustee and the various bankruptcy estates. Successfully tried a weeklong jury trial seeking damages from a hedge fund that took control of an ethanol plant that failed to pay its other creditors. When senior management at the hedge fund was criminally indicted and the fund was placed in receivership, successfully used various collection tools to get our client paid in full.
- Represented an assignee in an assignment for the benefit of creditors over a group of entities that had owned multiple assisted living facilities. Initiated and resolved a claims process with over 1,000 filed claims in less than six months.
- Represented a successor administrative agent brought in by the lender on a nine figure loan when the prior administrative agent, which was an affiliate of the borrower, failed to perform its duties. Guided the new administrative agent through the process of performing its duties when complete and accurate information was not made available and where the parties to the loan agreement were in active litigation.
- Represented an investor and a DIP lender in an involuntary bankruptcy proceeding brought against a mining company. Led the effort by a group of secured creditors to establish the priority of their claims and recover from the real estate and equipment securing their loans.
- Obtained summary judgment for a bank in Federal Court on a seven figure conversion claim brought by a bonding company after the bank’s borrower failed.
- Represented several financial institutions in responding to residential mortgage repurchase demands totaling over $40 million. Coordinated with other defendants in defending against claims and developed unique settlement analysis that resulted in clients obtaining an early resolution of the claims.
- Represented a securities brokerage and trading firm in connection with a suit against an international financial institution for damages caused by a rogue employee.
- Successfully represented a participant bank in connection with a claim against a lead bank that had failed to disclose material information in connection with selling a multi-million dollar participation.
- Represented an administrative agent in connection with disputes regarding the administration of a $150 million loan facility that was in default.
Real Estate Litigation
- Represented land owners and lenders in connection with condemnation proceedings. Worked with my transactions colleagues to simultaneously prepare for contested litigation and work towards a negotiated resolution.
- Obtained summary judgment for a home builder in a case accusing the home builder of faulty construction of over 30 townhomes.
- Represented multiple land owners in connection with boundary line disputes. Worked to find creative solutions that permitted all parties to benefit. When negotiated resolution was not possible, brought legal action to establish boundary lines, including Torrens registration proceedings, declaratory judgment actions and adverse possession claims.
- Represented land owners and lenders in reformation actions to correct legal descriptions in deeds and mortgages, sometimes from the early 1900s.
- Represented lenders in connection with making and negotiating title insurance disputes. Represented buyers, sellers and secured lenders in connection with the sale of distressed real estate. Represented multiple sellers of property pursuant to contracts for deed in cancelling the contracts and in ensuing litigation related to the cancellation of those contracts.
- Represented multiple landlords in commercial eviction proceedings.
Honors
Recognized on Minnesota Super Lawyers® list, 2018-2024 (Minnesota Super Lawyers® is a designation given to only 5% of Minnesota attorneys each year, based on a selection process that includes the recommendation of peers in the legal profession.)
Selected for inclusion in The Best Lawyers in America®, 2020-2025
Recognized on Minnesota Rising Stars list as part of the Super Lawyers® selection process, 2007-2015 (Minnesota Rising Stars is a designation given to only 2.5 percent of Minnesota attorneys each year, based on a selection process that includes the recommendation of peers in the legal profession.)
Local Litigation Star, Benchmark Litigation, 2020-2021
Attorney of the Year, Minnesota Lawyer, 2020
Recognized as a Top Lawyer, Minnesota Monthly, 2023 (The research for the Top Lawyers list, created by Professional Research Services, is based on an online peer-review survey sent to all attorneys in Minnesota.)