The Legal 500

Twitter Logo Youtube Circle Icon LinkedIn Icon

Cadwalader, Wickersham & Taft LLP

DASHWOOD HOUSE, 69 OLD BROAD STREET, LONDON, EC2M 1QS, ENGLAND
Tel:
Work 020 7170 8700
Fax:
Fax 020 7170 8600
Email:
Web:
www.cadwalader.com
Brussels, Charlotte, Houston, London, New York, Washington DC

London: Corporate and commercial

Corporate tax
Corporate tax - ranked: tier 6

Cadwalader, Wickersham & Taft LLP

Cadwalader, Wickersham & Taft LLP is most noted for its cross-border structured finance practice.  The London  tax group regularly advises domestic and multinational companies and financial institutions on the tax aspects of transactions and deal structuring. Adam Blakemore leads the practice and has particular experience assisting clients with restructurings in solvent and distressed debt situations and  corporate reorganisations.

Practice head(s):Adam Blakemore

Other key lawyers:Catherine Richardson; Hugo Chan

Key Clients

Seadrill Limited

Smurfit Kappa Group

[back to top]

London: Finance

Corporate restructuring & insolvency
Corporate restructuring & insolvency - ranked: tier 7

Cadwalader, Wickersham & Taft LLP

Despite being hugely impacted by an exodus of partners at the beginning of 2018 to¬†Milbank¬†(including rainmaker¬†Yushan Ng),¬†Cadwalader, Wickersham & Taft LLP¬†still has several US-qualified practitioners based in London, including¬† 'impressive' team head¬†Gregory Petrick¬†and thereby has the capacity to handle restructuring work¬†‚Äď particularly for bondholders¬†‚Äď on cross-border situations. It can also effectively leverage practitioners from its acclaimed New York office.

Practice head(s):Gregory Petrick

Other key lawyers:Richard Nevins

Key Clients

MBIA

Hemen Holdings

Norske Skog

Work highlights

  • Represented MBIA in multiple capacities relating to two collateral loan obligation investment funds regarding workout and other strategies for reducing MBIA’s exposure and with respect to restructuring efforts and potential litigation.
  • Represented Hemen Holdings (a company owned by family trusts established by Mr John Fredriksen for the benefit of his immediate family) as new money provider in the Chapter 11 restructuring of Seadrill Limited.
  • Advised an informal ad hoc group of secured lenders that held approximately 95 per cent of the secured debt in the Chapter 11 cases of Toisa Limited, Trade and Transport Inc. and certain vessel-owning affiliates (Bermuda-chartered offshore oil and gas supply shipping companies owned by Greek shipping magnate Gregory Callimanopulos) pending in the US Bankruptcy Court for the Southern District of New York.

[back to top]

Derivatives (including commodities)
Derivatives (including commodities) - ranked: tier 4

Cadwalader, Wickersham & Taft LLP

Cadwalader, Wickersham & Taft LLP's capital markets (securitization and asset-based finance) group focuses predominantly on securitisation and structured products, but it is also home to significant specialist expertise in derivatives. Nick Shiren focuses primarily on derivatives, CLOs and other loan funding structures. He is qualified in the UK, the US and in Australia, and his work includes in-depth advice on changing regulation in both Europe and the US. Though mainly focused on CLOs, David Quirolo is recognised as a leading adviser on regulatory developments across Europe, and he frequently represents the Loan Markets Association (LMA).

Practice head(s):Suzanne Bell; Robert Cannon; Stephen Day; Claire Puddicombe; David Quirolo; Nick Shiren; Daniel Tobias

Key Clients

Swisscard AECS

AMAG

Deutsche Bank AG

Funding Circle

Insight Investment

[back to top]

Structured products and securitisation
Structured products and securitisation - ranked: tier 2

Cadwalader, Wickersham & Taft LLP

'In addition to its subject matter expertise, it is without doubt a market leader in actually managing transactions and effectively dealing with third parties', remarks a client of the securitisation and asset-based finance practice at Cadwalader, Wickersham & Taft LLP. The firm has a dominant position as arranger's counsel for CLO transactions in Europe and also a significant presence in European ABS securitisation. The experienced structured products team, which includes CLO expert David Quirolo, counts well-known names such as Deutsche Bank among its clients. It has cross-border expertise in public and private securitisations and its insurance-linked securities practice, led by newly promoted partner Robert Cannon, handles numerous catastrophe bond deals. The firm is a leader in European peer-to-peer (P2P) securitisations, and also acts in transactions involving direct lending, SME loans and alternative finance.  Key partner Jeremiah Wagner left to join Latham & Watkins but the firm has a deep bench of talent in the structured finance space. Stephen Day is a leading light in asset-backed securitisations. Up-and-coming partner Suzanne Bell is a core member of the ABS team and advises on a broad range of structured finance and securitisation transactions.

Practice head(s):Suzanne Bell; Robert Cannon; Stephen Day; Claire Puddicombe; David Quirolo; Nick Shiren; Daniel Tobias

Other key lawyers:Sabah Nawaz; Alex Collins; Jake Lindsay

Testimonials

"Stephen Day and Suzanne Bell are among the best partners in the industry.'

"It is top in the CLO field. Given their extensive experience, they are able to deal with a variety of situations and have a deep bench of lawyers to ensure continuity of service."

"David Quirolo is very knowledgeable - one of the top lawyers in the EUR CLO space - and has seen many different transactions. He has advised from a CLO manager perspective and arranger perspective and so can see multiple sides of an argument."

"Working with Alex Collins is a pleasure. He is quick to respond and easily contactable. He is approachable and client-friendly, and able to calmly work under pressure to adhere to difficult deadlines. His responsive communication and regular updates ensure that miscommunications are rare and therefore deals proceed smoothly."

'Daniel Tobias is very thoughtful and thinks through issues deeply.'

"The team is one the most experienced in the European market, with in-depth knowledge of the full panoply of asset classes. They are very commercially-minded, and support efficient negotiation of legal documentation."

" Outstanding value for money and consistently go above and beyond for their clients."

Key Clients

Swisscard AECS

AMAG

Deutsche Bank AG

Funding Circle

Insight Investment

Work highlights

  • In 2018, the firm's global capital markets lawyers closed 185 CLO transactions as arranger and manager counsel, valued over $95bn, and was named top arranger counsel for Europe by Creditflux.
  • Acted as English law transaction counsel in respect of a CHF200m  securitisation of credit card receivables originated by Swisscard AECS.
  • Advised a global bank on the warehousing of a €1.4bn mortgage portfolio into two separate warehouse vehicles, and two RMBS transactions.
  • Advised AMAG Leasing AG on its two Swiss auto-lease securitisation transactions (CHF275m and CHF250m) which completed in 2018.
  • Acted as drafting counsel to the arranger of a securitisation backed by £130m of loans to UK SMEs originated on the Funding Circle platform.
Leading individuals

David Quirolo - Cadwalader, Wickersham & Taft LLP

Stephen Day - Cadwalader, Wickersham & Taft LLP

Next Generation Partners

Robert Cannon - Cadwalader, Wickersham & Taft LLP

Suzanne Bell - Cadwalader, Wickersham & Taft LLP

[back to top]


Legal Developments in the UK

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to