Photo of Michael D. Napoli

Michael D. Napoli Member

Areas of Practice

Bar Admissions

  • Texas

Court Admissions

  • U.S. Court of Appeals, Fifth Circuit
  • U.S. Court of Appeals, Sixth Circuit
  • U.S. Court of Appeals, Ninth Circuit
  • U.S. Court of Federal Claims
  • U.S. District Court, Northern, Southern, Western and Eastern Districts of Texas


The University of Texas School of Law, J.D., with high honors; Member, Texas Law Review; Member, Order of the Coif; Member, Chancellors (Grand Chancellor, 1990-1991), 1991

Baylor University, B.A., with honors; Phi Beta Kappa, 1988

As a court-appointed receiver and counsel to receivers and trustees, Michael Napoli works to maximize the value of insolvent entities in order to make a fair and equitable distribution to creditors. His experience covers a variety of industries with an emphasis on life settlements. Outside of the insolvency arena, Michael protects individuals and companies facing lawsuits. He works closely with his clients to create practical, business solutions to litigation problems. Representing both plaintiffs and defendants, Michael works on a wide variety of cases including securities, commercial and products liability matters.



Michael acts as a receiver and represents court-appointed fiduciaries in receiverships and in bankruptcies. He also represents parties to receivership proceedings. Michael's recent insolvency experience includes:

  • Representing the trustee of the Life Partners Position Holder Trust which was created by the plan of re-organization of Life Partners, Inc. As of the confirmation date, LPI had a portfolio of 3,000+ life insurance policies in which it had sold more than 100,000 interests to 22,000 investors. The Position Holder Trust holds all of the policies and is responsible for maintaining them for the benefit of the investors. The investors hold a variety of interests including interests in the Trust itself, interests in specific policies held by the Trust and notes issued by the Trust.
  • Acting as the receiver for the Ticket Reserve, Inc. and its subsidiaries - a multi-million dollar securities enforcement action brought by the SEC involving securities sold by a SaaS provider operating markets for future options on college football games.
  • Representing the receiver for Retirement Value, LLC - a $77 million securities enforcement action brought by the Texas State Securities Board involving the sale of derivative investments based on life settlement policies.
  • Representing the receiver for USA Now, LLC - a multi-million dollar securities enforcement action brought by the SEC involving securities promoted by an EB-5 Regional Center.
  • Defending the advisor of a foreign exchange fund against securities fraud allegations and a receivership action brought by the Texas State Securities Board. As a result of settlement with the TSSB, the client was allowed to resume operations through a new fund by making a corrective offer to the existing investors
  • Prosecuting claims by investors in a Ponzi scheme arising out of fictitious loan transactions securing a substantial recovery for his clients before a receiver was appointed
  • Representing investors in efforts to recover funds from an SEC receiver

Securities Litigation

Michael represents parties to private securities cases as well as defendants in enforcement actions by the SEC and State Securities Board. Michael’s securities experience includes:

  • Defending a broker against an enforcement action by the TSSB
  • Defending a marketing company against market manipulation allegations brought by the SEC
  • Defending a mutual fund advisor in SEC investigation and suit regarding allegations of market timing
  • Defending a broker/dealer in FINRA arbitrations against numerous claims by customers alleging that an employee had defrauded them in a Ponzi scheme involving fictional investments. FINRA arbitration panels found in favor of broker/dealer on all issues related to the Ponzi scheme
  • Defending a hedge fund in suits by portfolio companies alleging violations of the securities laws.
  • Defending broker/dealers in FINRA arbitrations against claims by customers alleging mishandling of their accounts

Commercial Litigation

Michael also has a broad commercial practice representing individuals and companies in contract, corporate governance, insurance and intellectual property disputes in a wide variety of industries. His commercial litigation experience includes:

  • Representing founders of a midstream pipeline company in claims against co-founders for breach of fiduciary duty and oppression. Structured settlement providing for the division of existing assets, sale of shares and grant of options to clients allowing them to participate in company’s on-going business opportunities on favorable terms
  • Representing majority shareholder in health clinic in resolving claims brought by minority shareholder leading to buyout of minority on terms favorable to majority
  • Representing majority shareholders of entertainment start-up in claims against some of the founders and early investors resulting in elimination their interests on favorable terms
  • Representing a financial institution in breach of contract suit against servicer of portfolio of subprime automobile loans. Significant recovery for client as a result of settlement during trial
  • Defending the CFO of bankrupt public corporation against suit by bankruptcy trustee for breach of fiduciary duty
  • Defending former CEO and director of public real estate trust and his consulting company against claims for breach of fiduciary duty and breach of contract. Judgment after trial in favor of defendants affirmed on appeal
  • Defending former member of an LLC against claims that he was the alter ego of the company. Jury verdict and judgment in favor of client
  • Prosecuting claim on behalf of investors in ethanol venture against controlling members of Delaware LLC alleging breach of fiduciary duty and breach of company agreement arising out of sale of controlling interest. Significant recovery for clients as a result of settlement
  • Prosecuting suits on behalf of offshore drilling company against insurers seeking to recover on claims related to hurricane damage
  • Prosecuting claims by manufacturer of biometric time clocks for theft of trade secrets and participation in breach of fiduciary duty against former customer which had assisted client’s employees in creating a competitor. Cases in Connecticut and Texas settled on terms favorable to client
  • Defending life insurance companies against claims for improper practices in the sale of insurance products and settlement of claims in Texas, Oklahoma, New York and Massachusetts
  • Prosecuting suit on behalf of life insurer seeking to rescind life settlement policy based on misrepresentations by the insured when purchasing the policy

Personal Injury and Products Liability

Michael defends manufacturers and engineers against claims for personal injury, including products liability claims related to medical devices. His personal injury experience includes:

  • Defending manufacturer of pelvic mesh in numerous products liability lawsuits in state and federal court
  • Defending engineering companies in serious personal injury and wrongful death claims arising out of refinery accidents

Memberships & Involvement

  • American Bar Association
  • Dallas Bar Association
  • National Association of Federal Equity Receivers

Community/Civic Activities

Michael maintains an active pro bono practice involving, among other things, assisting parents in obtaining the return of their children under the Hague Convention on the Civil Aspects of International Child Abduction.