People

Craig A. Boneau

Craig is a partner at Reid Collins & Tsai in the Austin office. Craig appears in federal and state courts and arbitrations across the country representing plaintiffs in professional liability litigation, including legal and accounting malpractice, financial-fraud-based litigation, insolvency disputes, and cross-border financial litigation.

Craig regularly brings negligence, breach of fiduciary duty, fraud, and fraudulent transfer claims on behalf of his clients against some of the largest institutions in the world. In doing so, he often represents the victims of financial fraud, including companies, hedge funds, and private equity funds. Many of Craig’s clients are in insolvency proceedings as a result of the fraud and so his representations include working on behalf of court-appointed trustees and liquidators.

Craig received his J.D. from Columbia Law School and his B.A. in Psychology from the University of Texas at Austin. Between undergrad and law school, Craig spent four years as a teacher and coach in Texas. He taught high school biology and physics and he coached basketball and football.

Notable Representations:

  • Craig represents a privately held Canadian company in pursuit of a $65 million legal malpractice claim against Hogan Lovells arising from Hogan Lovells's representation of the company before the International Trade Commission. The arbitration trial is complete and the parties are awaiting a judgment.
  • Craig represents a litigation trustee for a group of bankrupt funds that were part of an investment structure run out of New York. The funds include Cayman Island and Bermuda based funds. Craig is pursuing fraudulent conveyance, negligence, and fraud claims against the funds’ professional service providers.
  • Craig represents the liquidators of Cayman hedge funds that invested in a group of failed CDOs. Craig is currently pursuing claims against a large, international law firm for its alleged role in a multimillion-dollar fraud on the funds. The representation also included pursuit of U.S.-law and Cayman-Island-law based fraudulent conveyance claims against a large international bank which has since been successfully settled.
  • Craig represented the Texas County Retirement Systems, a governmental pension fund, in pursuit of its fraud claims against a number of international banks related to the pension fund’s investment in RMBS. The case has been resolved.
  • Craig represented a group of funds in a $95 million legal malpractice case against a major international law firm arising out of its negligence representation in connection with a CLO warehouse extension. The case was successfully settled on confidential terms.
  • Craig represented the Chapter 7 trustee of the bankruptcy estate of a New York investment fund that was an estimated $400-million Ponzi scheme. Craig pursued fraudulent transfers on behalf of the estate against futures commission merchants. The cases were successfully settled on confidential terms.
  • Craig represented a bank in pursuit of fraud claims against an underwriter and servicer of various RMBS arising from the bank’s purchase of the fraudulent RMBS. The case was successfully settled on the eve of trial on confidential terms.