Areas of Practice:
Banking Litigation, Debtor-Creditor Relations,
Securities Litigation, E-Commerce Litigation, Commercial Litigation
State University of New York at Stony Brook (B.A., 1973);
Columbia University (J.D., 1976)
American Bar Association (Member: Litigation Section; Committee
on Securities Regulation, 1984- ; Creditors' Rights Committee,
1977, New York; 1978, U.S. District Court, Southern and Eastern
Districts of New York; 1982, U.S. Court of Appeals, Second
Circuit and U.S. Supreme Court; 1984, U.S. District Court,
Northern District of New York; 1986, U.S. Court of Appeals,
Secretary: Olga Cave
Direct telephone number: (212) 826-5305
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Stuart A. Krause practices in
the areas of litigation and creditor's rights. After graduating
from Columbia Law School in 1976 (where he was a Harlan Fiske
Stone Scholar), he began his legal career at Skadden Arps
Slate Meagher & Flom as an associate in the litigation department,
specializing in securities litigation. In 1980, he joined
the firm of Sage Gray Todd & Sims, where he developed an expertise
in banking litigation and creditor's rights.
He joined the predecessor to ZEK in 1986 and was a founding
partner of ZEK in 1989. At ZEK, he has specialized in banking
litigation, with a particular emphasis on the prosecution
and defense of fraud claims, and in representing bank and
other creditors in their efforts to enforce their claims both
in and out of bankruptcy court. He has recently become involved
in the burgeoning area of E-Commerce litigation. Stu has helped spearhead the firm's representation of Israeli corporate clients. In Tel Aviv, in February, 2005, Stu and Bruce Goodman addressed the Association of Corporate Counsel in Israel on the topic of “International Arbitration and Mediation."
Stu and his colleagues have successfully defended Citibank
in the United States District Court for the Southern District
of New York against a $180 million RICO and common law fraud
claim brought by a quasi governmental entity of the Kingdom
of Qatar, obtaining a defendant's verdict after a month-long
trial (which verdict was affirmed in the Second Circuit Court
of Appeals). Qatar National Navigation & Transport Co. v.
Citibank, N.A., 1998 W.L. 516117 (Aug. 20, 1998), and 1992
W.L. 276565 (Sep. 29, 1992), both aff'd, 182 F.3d 901 (2d
Stu has also led ZEK's efforts, on behalf of a Japanese trading company (and member of the Toyota family of companies) Toyota Tsusho America, to prosecute complex fraud and creditor's rights actions, in the Florida state, federal, and bankruptcy courts. The initial amount in controversy exceeded $50 million. A number of such actions were ultimately settled out of court, and one recently resulted in an $8 million judgment.
Stu "enjoys the give and take of complex litigation because
it is akin to chess at the grandmaster level. Litigating such
cases also requires you to be a bit of a detective, since
successfully resolving these cases often involves getting
at the truth, not only in terms of the underlying facts, but
also with respect to the litigant's motives and goals which
underly the fact pattern." Stu has published articles on securities
and bankruptcy law, but prefers to grapple with interesting
legal issues in the context of actual litigation.
Stu is active in many charitable organizations and devotes
a great deal of his leisure time to his efforts in that regard.
He is a rabid Yankee and Jets fan.