Mandelsberg, Steven

Steven J. Mandelsberg

Partner, Litigation

T 212.478.7360


  • 488 Madison Avenue
    New York, NY 10022
  • Yeshiva University (B.A., cum laude, 1975)
  • St. John's University School of Law (J.D., 1978)
Biographical Details

    For over 35 years, Steve has successfully represented financial institutions, businesses and constituencies in federal and state courts in a wide variety of major commercial disputes, focusing on lender liability cases, fraud-based investigations and complex litigation.  He has extensive experience in litigating, arbitrating and mediating claims, defenses and issues arising under loan and security, guaranty, asset based lending, factoring, subordination, inter-creditor, syndication, loan participation, repurchase, mortgage, letter of credit, stock/asset purchase and sales agreements, including “failure-to-fund,” “lender domination-and-control,” “deepening insolvency,” implied covenant of good faith, breach of fiduciary duty, fraud, misrepresentation, tortious interference with contract, wrongful setoff, usury, equitable subordination, fraudulent conveyance, RICO, CERCLA, securities law, and related theories.  Steve is also experienced in representing governments and companies in recovering costs for removal and abatement of asbestos, and in international arbitrations.

    Selected Engagements:

    • Commerzbank AG v. Lehman Brothers et al. (Bankr. S.D.N.Y. 2014) (representing Commerzbank AG, successfully resolved numerous claims and counterclaims exceeding $651 million arising from issuance of credit default swaps and collateral obligations).
    • Bank Leumi USA v. AS Diamonds and Alain Spira and GM Diamonds, et al. (N.Y. County, N.Y. Supreme Court, Commercial Division (2014-2017) (representing Bank in multiple litigations resulting in issuance of pre-judgment Order of Replevin and preliminary injunction, judgments of over $11.6 million and $2.7 million and substantial recoveries and other relief).
    • DKRW Wind Holdings, LLC v. Transcanada Energy Ltd., 2016 N.Y. Misc. LEXIS 710 (Sup. Ct. N.Y. Co. March 1, 2016) (representing Transcanada, won summary judgment dismissal of $11 million suit against pipeline manufacturer by party to contract to develop a wind power electric generating facility; after pre-trial document and deposition discovery, court granted Transcanada summary judgment in full while denying DKRW’s summary judgment motion).
    • Capstone Advisory Group (representing Capstone in multiple litigations and disputes including challenges to professional fees in bankruptcy, enforcing and defending against non-compete, restrictive covenant and non-disparagement provisions, enforcing indemnification provisions, responding to third-party subpoenas, preparing witnesses for expert testimony, assisting in preparation of valuation and forensic investigation reports).
    • TAP Holdings v. Orix Finance Corp., Index No. 600691-2010 (Sup. Ct. N.Y. Co. Commercial Div. 2011) (won dismissal with prejudice, on behalf of three directors of California-based off-road vehicle manufacturer and parts supplier, of amended complaint seeking over $100 million in damages for breach of fiduciary duty and fraudulent transfers arising out of corporate restructuring and UCC Article 9 sale of company assets).
    • Buchwald Capital Advisors v. JP Morgan Chase Bank, N.A., 2011 WL 309583 (Bankr. S.D.N.Y. 2011) (representing JP Morgan Chase Bank, N.A. and effectively serving as lead counsel for group of seven other lenders to largest diamond/gem retailer to have filed for bankruptcy, won dismissal without leave to further re-plead of third amended complaint that sought over $129 million based upon fraudulent conveyance, preference and related theories).
    • State of California v. W.R. Grace, 418 B.R. 511 (D. Del. 2009) (obtained reversal of bankruptcy court decision that granted summary judgment, on statute of limitations grounds, of client State of California’s $130 million in claims against asbestos manufacturer for recovery of expenses of removing asbestos products from government-owned buildings).
    • Sirius Satellite Radio Inc. v. Chinatown Apts., 303 A.D. 2d 261, 756 N.Y.S.2d 557 (1st Dep't 2003); Index No. 602385 (Sup. Ct. N.Y. Co. 2003) (preliminary injunction affirmed, prohibiting interference with key satellite radio rooftop installation and authorizing transmissions as part of multi-billion dollar national network; summary judgment granted, enforcing license and related agreements and awarding permanent injunctive relief).
    • Merrill Lynch Interfunding Inc. v. Argenti, 200 U.S. Dist LEXIS 5458 (S.D.N.Y. 2000) (concluding phase of promissory note/lender liability litigation in which, after jury trial and Second Circuit opinion, 155 F.3d 113 (2d Cir. 1998) that enforced notes and dismissed various defenses and counterclaims, lender was awarded judgment of over $12 million).

    Steve is an inaugural member of the Federal Bar Council's Bankruptcy Litigation Committee and has served on the ABA’s Lender Liability Committee, as well as on federal civil procedure subcommittees of the New York State Bar Association and the New York County Lawyers Association.  Steve has been named to the New York Metro Area Super Lawyers list (2007, 2010, 2012, 2014) and elected to Cambridge’s “Who’s Who” Registry of Professionals and as a member of the Trial Lawyers Honorary Society of the Litigation Counsel of America.  A panelist at a 2016 global webinar on "Fraudulent Transfer Litigation," Steve also has addressed the ABA Section of Litigation’s 2007 Convention seminar, “Hiding the Ball: Preparing Experts’ Reports” and at the 2006 Asbestos Bankruptcy Conference on “Removing the Cloud of Future Asbestos Demands,” Steve has spoken at programs presented by the American, Canadian and New York State Bar Associations and the New York County Lawyers Association on subjects ranging from the ramifications of NAFTA to enforcement of contractual choice of law provisions.

    Steve is admitted in all New York state courts, and is admitted or has appeared before the United States District & Bankruptcy Courts for the Southern, Eastern and Northern Districts of New York; United States District & Bankruptcy Courts for the Central District of California, District of Delaware and District of New Jersey; United States Court of Appeals for the Second and Third Circuits; United States Court of Federal Claims; and the United States Supreme Court.