MAYA D. (CATER) SCHEEF

PARTNER

Maya (Cater) Scheef has been litigating high-stakes, multi-million dollar disputes for nearly a decade. Her practice focuses on complex financial and business disputes, and she has extensive experience litigating disputes involving complex financial products. In the years following the 2008 financial crisis, she successfully litigated against numerous Wall Street Banks in connection with billions of failed mortgaged-backed securities, and has been named a securities litigation, New York Metro Rising Star by Super Lawyers since 2019.

Practices

About

Maya’s practice focuses on complex commercial litigation, structured finance and derivatives litigation, securities litigation and other types of financial litigation. She regularly counsels investors and other market participants in matters relating to residential and commercial mortgage-backed securities, collateralized debt obligations, swaps and other asset-backed securities, and has appeared in numerous state and federal actions at both the trial and appellate level on behalf of investors, securitization trustees, and trust administrators. She has also prosecuted and defended clients in an array of other business-related matters, ranging from employment matters to lending and investment disputes to bet-the-company litigation. Clients describe Maya as a “business-minded” litigator with a “knack for strategy,” and often turn to her for general advice, including how to protect themselves and avoid litigation in the first place.

Maya joined Kleinberg Kaplan with a breadth of legal and business experience. Maya came to the firm from Quinn Emanuel Urquhart & Sullivan, where she practiced for nine years. Prior to Quinn, Maya worked for a litigation funder, where she was responsible for initial risk assessment and evaluating cases for investment. Before that, she spent several years at a commercial real estate development firm, where she was responsible for a variety of regulatory and legal matters.

Experience

Selected Representations*:

  • Represented Computershare Trust Company, N.A. on behalf of a securitization trust in Natixis Real Estate Capital Trust Series 2007-HE2 v. Natixis, in a breach of contract action seeking $800 million in damages in connection with the sale and securitization of $1 billion residential mortgage loans.
  • Successfully defended BlueCrest Capital in O’Grady v. Bluecrest Capital Management LP, obtaining dismissal in the Southern District of New York of a former employee’s complaint seeking $1.2 million in bonus payments. The decision was unanimously affirmed by the Second Circuit on appeal.
  • Successfully obtained an emergency injunction on behalf of BlueCrest in BlueCrest Capital Opportunities Limited v. Meredith Whitney et al, which involved a dispute over the redemption of BlueCrest’s $50 million seed investment in Kenbelle Capital.
  • After a one-month bench trial in the Southern District of New York, obtained a favorable ruling on behalf of a securitization trustee in a $2 billion contract dispute against UBS.
  • Represented American International Group in a fraud action against Bank of America and Countrywide in connection with the sale of residential mortgage-backed securities, resulting in a $650 million settlement.

*Work was performed while practicing at a prior firm.

Education

Fordham University School of Law (J.D., 2011)

Walden College (B.S., magna cum laude, 2003)

Bar Admissions

New York State Bar

United States District Court for Southern District of New York

United States Court of Appeals, Second Circuit

Insights

The Train Has Left the Station: LSTA Issues Revised Secondary Trading Documentation To Reflect Transition from LIBOR

January 29, 2021

Effective January 27, 2021, the Board of the Loan Syndications and Trading Association (the “LSTA”) published a revised suite of trading documents to reflect the market’s transition from the use of the London Interbank Offered Rate (“LIBOR”) to the Secured Overnight Financing Rate (“SOFR”) or other alternative risk-free rates (“RFRs”) as a key benchmark for…

IBOR Transition – IBA Announces Plan For Key USD LIBOR Tenors Beyond 2021

December 3, 2020

The ICE Benchmark Administration (“IBA”) announced earlier this week that it will consult on its intention to extend publication of the overnight and one-, three-, six-, and 12-month USD LIBOR rates until June 30, 2023. The June 2023 extension, however, applies only to legacy contracts—no new USD LIBOR contracts will be permitted after 2021.1 The…

15 Kleinberg Kaplan Attorneys Named as 2020 Super Lawyers or Rising Stars

November 17, 2020

We are pleased to announce that 15 of the firm’s attorneys were selected for inclusion in the 2020 edition of Super Lawyers®, a national legal ranking. Attorneys were nominated by their peers and recognized for their outstanding professional achievement in several legal practice areas including business/corporate, business litigation, estate & probate, mergers & acquisitions, real estate,…

LIBOR Transition – ISDA Prepares to Launch 2020 IBOR Fallbacks Protocol and Supplement

October 19, 2020

Following a favorable review from the Antitrust Division of the U.S. Department of Justice, the International Swaps and Derivatives Association (“ISDA”) announced on October 9, 2020 that it intends to publish a protocol, along with updates to its standardized documentation to provide for fallback rates and procedures to account for the potential discontinuation of certain…

SEC Sets LIBOR Transition Preparedness as an Examination Initiative

July 21, 2020

The LIBOR transition encompasses far-ranging legal issues that impact the investment management industry, including the potential impact on trading and derivatives portfolios, fund performance targets within fund documentation, financing and brokerage arrangements, and a wide range of operational and other issues that need to be considered by managers. Background LIBOR (London Interbank Offered Rate) is…

Private Investment Funds & Capital Commitments: Force Majeure as Investors’ Defense Du Jour?

April 8, 2020

Investment funds continue to grapple with COVID-19, responding to fluctuating financial markets and the ongoing economic, strategic and practical challenges facing them. During this tumultuous period, the funds’ limited partners, perhaps struggling with liquidity issues of their own, may be at risk of defaulting on capital calls triggered by the funds and their general partners. These defaults…

Kleinberg Kaplan Adds Maya Cater as Partner to Litigation Group

January 21, 2020

Premier boutique law firm Kleinberg Kaplan has announced that Maya D. Cater has joined the firm as a partner in its Litigation Practice. She arrives from Quinn Emanuel. Ms. Cater has extensive experience representing clients in the financial services sector, including private investment funds, in commercial disputes. She represents both financial and corporate clients on matters involving collateralized debt…