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Cadwalader, Wickersham & Taft LLP

200 LIBERTY STREET, NEW YORK, NY 10281, USA
Tel:
Work +1 212 504 6000
Fax:
Fax +1 212 504 6666
Email:
Web:
www.cadwalader.com

United States: Antitrust

Cartel
Cartel - ranked: tier 4

Cadwalader, Wickersham & Taft LLP

Cadwalader, Wickersham & Taft LLP represents a large number of high-profile clients across many industries, both in contentious matters and in investigations before the US and European regulators. In a recent highlight, the firm acted for Dexia and Assured Guaranty in an ongoing industry-wide investigation by the DOJ related to bid-rigging in the guaranteed investment contracts industry. ‘Talented’ antitrust practice chair Charles Rule is recommended, as is Jonathan Kanter; both are based in Washington DC.

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Civil litigation/class actions
Civil litigation/class actions - ranked: tier 4

Cadwalader, Wickersham & Taft LLP

Cadwalader, Wickersham & Taft LLP continues to handle high-profile financial services litigation. Practice head and managing partner of the Washington DC office Charles Rule has been representing RBS (CDS litigation) and Dexia (municipal derivatives litigation). Also in Washington DC, Peter Moll and Brian Wallach are defending Anheuser-Busch against allegations by California convenience store owners that the multinational violated state unfair competition laws by providing covert price discounting to selected retailers in the form of coupons provided on a discriminatory basis. Nestlé USA and Morgan Stanley are recent class action clients.

Leading lawyers

Charles Rule - Cadwalader, Wickersham & Taft LLP

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Merger control
Merger control - ranked: tier 4

Cadwalader, Wickersham & Taft LLP

The bulk of Cadwalader, Wickersham & Taft LLP’s antitrust team is based in Washington DC, with additional attorneys working in the firm’s New York office. The group handles high-profile merger clearance matters for an illustrious client base, which includes Microsoft, Eli Lilly and Getty Images. Practice head Charles Rule and Andrew Forman advised Salix Pharmaceuticals on its $15.8bn sale to Valeant. Jonathan Kanter is another key partner.

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United States: Dispute resolution

Securities litigation - defense
Securities litigation - defense - ranked: tier 3

Cadwalader, Wickersham & Taft LLP

At Cadwalader, Wickersham & Taft LLP, ‘the level of service is superb’, and clients appreciate its ‘great track record in securities litigation and regulatory expertise few firms can match’. Seasoned trial lawyer Louis Solomon is co-chair of the litigation department and is leading two teams featuring Hal Shaftel and Colin Underwood in the defense of AriZona Iced Tea in a matters exceeding $1bn in value concerning the company’s valuation. Martin Seidel is currently defending Salix Pharmaceutical in a securities class action alleging breaches of sections 10b and 20a of the ’34 Act. The ‘outstanding’ Gregory Markel is defending Morgan Stanley in a class action brought by commodities traders alleging the manipulation of the price of Brent crude oil futures and the Platts price benchmark. Jonathan Hoff is also recommended. Israel Dahan and Peter Isajiw joined King & Spalding LLP, and Bradley Bondi left for Cahill Gordon & Reindel LLP.

Leading lawyers

Gregory Markel - Cadwalader, Wickersham & Taft LLP

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White-collar criminal defense
White-collar criminal defense - ranked: tier 4

Cadwalader, Wickersham & Taft LLP

The lawyers at ‘top-notchCadwalader, Wickersham & Taft LLPhave deep industry knowledge that extends well past knowledge of the law’. The firm has a broad range of clients that includes financial institutions, energy companies and pharmaceutical companies, as well as some extremely prominent nonprofits. Kenneth Wainstein chairs the practice. He represented assistant US attorney Joseph Bottini in connection with an investigation into potential contempt of court charges arising from the prosecution of Senator Ted Stevens. Other highlights for the Washington DC-based Wainstein included conducting an internal investigation for the University of North Carolina at Chapel Hill into alleged academic irregularities. Colleagues in the same city include Jodi Avergun, whose expertise includes FCPA, FCA, and securities and pharmaceutical regulation; Bret Campbell, who regularly handles internal and governmental investigations; and Adam Lurie, whose work is wide ranging. Former US attorney for the Western District of North Carolina Anne Tompkins joined the firm’s Charlotte office in April 2015.

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United States: Finance

Financial services: regulatory
Financial services: regulatory - ranked: tier 5

Cadwalader, Wickersham & Taft LLP

Recognized for its ‘excellent securities regulatory expertise’, Cadwalader, Wickersham & Taft LLP has a superb perspective of the broker-dealer market as a result of its work on both the buy and sell side. Steven Lofchie heads the firm’s broker-dealer practice and has ‘comprehensive knowledge across products and regulatory regimes’. Along with the ‘very capable’ Jeffrey Robins, Lofchie is advising Société Générale, Scotia Bank and Wells Fargo on the establishment of prime brokerage businesses. Robins also continues to represent ISDA on industry strategies to produce and implement documentation necessitated by Dodd-Frank. Although the firm is less visible on the bank regulatory side it does, nevertheless, handle some complex and strategically important work for domestic and foreign banks as they continue to grapple with various key provisions of Dodd-Frank. The ‘experienced and knowledgeable’ Scott Cammarn is the firm’s principle bank regulatory expert and ‘applies excellent commercial judgment’ to numerous major domestic and international banks on key provisions of Dodd-Frank including the Volcker rule.

Leading lawyers

Steven Lofchie - Cadwalader, Wickersham & Taft LLP

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Not-for-profit (nonprofit and tax exempt organizations)
Not-for-profit (nonprofit and tax exempt organizations) - ranked: tier 3

Cadwalader, Wickersham & Taft LLP

Cadwalader, Wickersham & Taft LLP’s clients include major foundations and charities, universities, hospitals and healthcare institutions, churches and social welfare organizations. The practice stands out for its advice on regulatory matters, tax, real estate, litigation, trusts and financial restructuring, and its attorneys have played key roles in developing legislation and public policy that is supportive of the NFP sector. The team was counsel to The Amsterdam at Harborside, a continuing care retirement community, in a $220m debt restructuring via a pre-negotiated Chapter 11 bankruptcy plan; the complex matter juggled the competing interests of regulatory compliance, financial necessity and meeting the senior care community’s essential non-profit aims. Other transactional matters included advising Shorefront Jewish Geriatric Center, an affiliate of client MJHS (formerly Metropolitan Jewish Health System), on the sale of a skilled nursing facility to an established for-profit nursing home operator. Paul Mourning, Kathy Chin and Brian McGovern in New York are recommended.

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Restructuring (including bankruptcy): corporate
Restructuring (including bankruptcy): corporate - ranked: tier 5

Cadwalader, Wickersham & Taft LLP

Cadwalader, Wickersham & Taft LLP has been acting for a many of the largest US and international investment banks on some of the highest-profile restructurings in the market. In Energy Future Holdings, it assisted Morgan Stanley in successfully defeating a plaintiff motion to have the case transferred to state court; in Revel Casino, the team obtained confirmation of a Chapter 11 liquidation plan on highly favorable terms for its client JPMorgan (DIP lender and holder of first lien debt); and it has been acting for Deutsche Bank in a $90m claim under the Chapter 15 of Canadian mining company Veris Gold, which raised interesting issues of cross-border bankruptcy law. Greg Petrick and Mark Ellenberg co-chair the compact team, with Ingrid Bagby and recently promoted special counsels Michele Maman and Christopher Updike the other key figures. All those named are based in New York, except Washington DC-based Ellenberg.

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Restructuring (including bankruptcy): municipal
Restructuring (including bankruptcy): municipal - ranked: tier 2

Cadwalader, Wickersham & Taft LLP

Cadwalader, Wickersham & Taft LLP combines expertise in municipal finance, financial restructuring and bankruptcy, providing advisory and litigation services, and has had notable roles in the Chapter 9s of Detroit, Orange County and Jefferson County. Recent work includes advising monoline insurance companies Assured Guaranty and Assured Guaranty Municipal on the potential workout or restructuring of insured general government obligations, swaps and debt issuances by Puerto Rico and its instrumentalities. Mark Ellenberg - who splits his time between Washington DC and New York - and Lary Stromfeld co-head the distressed municipal finance team, which also includes Ingrid Bagby, Thomas Curtin and Michele Maman. Ivan Loncar frequently represents dealers, banks and other financial institutions. All mentioned are based in New York, unless otherwise stated.

Leading lawyers

Lary Stromfeld - Cadwalader, Wickersham & Taft LLP

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Structured finance
Structured finance - ranked: tier 1

Cadwalader, Wickersham & Taft LLP

Cadwalader, Wickersham & Taft LLP is ‘a recognized leader in the finance sector’, and fields ‘an elite group of lawyers’ who are noted for their expertise in securitization transactions, derivatives and structured products, and for their ‘outstanding’ knowledge of regulatory matters. An impressive list of clients includes Bank of America, BNP Paribas, Citibank, Deutsche Bank and Wells Fargo, together with managers and new participants implementing CLO-like transactions in innovative sectors. The practice continues to diversify beyond its CMBS roots, and is recognized also in the areas of CLOs, subscription credit facilities, ABSs and a range of more esoteric asset classes, including aircraft loans and leases, cell tower, company cash flows, insurance receivables, manufactured housing contracts and music royalties. The securitization practice is headed by New York-based Michael Gambro and Charlotte-based Stuart Goldstein, while the derivatives department is led by Richard Schetman and Steven Lofchie, who is ‘an expert on broker-dealer issues’. A team led by Neil Weidner in New York advised CPP Investment Board on the acquisition by its subsidiary, CPPIB Credit Investment, of GE Capital’s US sponsor lending portfolio, Antares Capital, for $12bn; in another highlight, the group acted for FirstKey Lending in the first multi-borrower single-family rental (SFR) securitization, totaling $241m. Equity derivatives expert Ray Shirazi, also based in New York, assisted Salix Pharmaceuticals with terminating and unwinding complex convertible call spread equity derivatives backing $1.04bn of convertible notes connected to its $15.6bn sale to Valeant. Lary Stromfeld and Ivan Loncar are considered ‘two of the best structured finance practitioners in the area’. The ‘equity derivatives and regulatory expert’ Jeffrey Robins is also recommended.

Leading lawyers

Lary Stromfeld - Cadwalader, Wickersham & Taft LLP

Neil Weidner - Cadwalader, Wickersham & Taft LLP

Ray Shirazi - Cadwalader, Wickersham & Taft LLP

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United States: Industry focus

Energy: regulatory
Energy: regulatory - ranked: tier 2

Cadwalader, Wickersham & Taft LLP

Cadwalader, Wickersham & Taft LLP’s team had an eventful year, with natural gas lawyer Mark Haskell, special counsel Brett Snyder and counsel George Billinson joining the firm’s Washington DC office from Morgan, Lewis & Bockius LLP, and Kenneth Irvin and Terence Healey departing for Sidley Austin LLP. Paul Pantano heads the team, which stands out in energy trading, regulatory compliance and enforcement defense. BP Energy Company engaged the team to act as lead counsel in the Houston Ship Channel natural gas market manipulation hearing before the FERC. The team also provides ongoing regulatory advice to Credit Suisse, Mercuria Energy and Deutsche Bank in relation to trading portfolio M&A transactions.

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United States: Intellectual property

Patent litigation: full coverage
Patent litigation: full coverage - ranked: tier 6

Cadwalader, Wickersham & Taft LLP

Cadwalader, Wickersham & Taft LLP’s ‘excellent’ group defended AT&T Mobility in a patent infringement case related to 4G wireless networks, successfully obtaining a summary judgment of non-infringement on four asserted claims. The firm also represented Freescale Semiconductor in a suit brought by MediaTek, which concerned patents covering semiconductor bus arbitration technology and power management technology. Senior counsel Christopher Hughes, ITC specialist Alexander Hadjis and technology expert John Moehringer are all key individuals. Other notable clients include Microsoft, AngioDynamics and ATEN.

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United States: Investment fund formation and management

Alternative/hedge funds
Alternative/hedge funds - ranked: tier 4

Cadwalader, Wickersham & Taft LLP

Steven Lofchie’s team at Cadwalader, Wickersham & Taft LLP advises on every facet of an investment manager’s business, from formation of the fund manager, creation and structuring of funds, capital raising and devising and executing investment strategies, through to regulatory and compliance issues and M&A. The practice was strengthened by the arrival of Richard Brand, who joined from Kirkland & Ellis LLP, while Dorothy Mehta and Andrew Lom were promoted to partner and counsel, respectively. Brand worked with Christopher Cox and others to advise Pershing Square Capital Management on its acquisition of a 7.5% stake in Mondelez International. The group is particularly active in the family office space, acting for US-based and non-US high-net-worth families and asset managers on family office entity structuring, investment due diligence, succession issues, as well as converting family offices into asset management firms and vice versa. Other strengths include advice on shareholder activism and takeover matters, as well as its work for buy-side and sell-side clients in the derivatives arena. On the regulatory side, the team handles numerous SEC and CFTC-related matters, including those involving registrations, audits and compliance issues.

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United States: Labor and employment

Employee benefits and executive compensation
Employee benefits and executive compensation - ranked: tier 4

Cadwalader, Wickersham & Taft LLP

The ‘top-notch practice’ at Cadwalader, Wickersham & Taft LLP is ‘deeply respected for its marketplace know-how’ that is ‘clearly at the pinnacle of the field when it comes to pension plan investments in financial products’. ‘Lawyers don’t get much better’ than James Frazier and Washington DC-based senior counsel Robert Davis, who are advising broker-dealers and banks on ensuring financial products are suitable for ERISA-regulated investors. Outside the regulatory space, practice head and executive compensation specialist Steven Eckhaus advised the Big Ten Conference’s compensation committee on extending the contract of its commissioner, Jim Delany. In the M&A field, special counsel Shane Stroud advised Salix Pharmaceuticals on its sale to Valeant. Unless otherwise stated, all named lawyers are based in New York.

Leading lawyers

Steven Eckhaus - Cadwalader, Wickersham & Taft LLP

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United States: M&A/corporate and commercial

M&A: large deals ($1bn+)
M&A: large deals ($1bn+) - ranked: tier 7

Cadwalader, Wickersham & Taft LLP

Cadwalader, Wickersham & Taft LLP has a principal focus on middle-market clients, although this does not prevent it from advising on a multitude of big-ticket deals. It also has a strong reputation in the activism and proxy contest space, where it represents both shareholder activists and corporates, and its standing in this area was further enhanced by the lateral hire of Richard Brand from Kirkland & Ellis LLP in 2015. He links up with co-chair of the corporate and M&A department Christopher Cox, who is another experienced figure in activism situations and a regular adviser to life sciences, pharmaceutical, biotech, and medical device companies. In 2015, Cox represented Salix Pharmaceuticals in its $15.6bn sale to Valeant Pharmaceuticals. Aly El Hamamsy is another key member of the team and represented CPP Investment Board in connection with CPPIB Credit Investments’ $12bn acquisition of Antares Capital’s sponsor lending portfolio. Co-chair of the corporate team William Mills is another senior member of the practice and is noted for his healthcare expertise.

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United States: Real estate and construction

Real estate
Real estate - ranked: tier 2

Cadwalader, Wickersham & Taft LLP

Thought by some to have ‘the best debt finance practice in the country’, Cadwalader, Wickersham & Taft LLP’s six-partner team operates out of New York and Charlotte, handling work for a roster of leading financial institutions, such as JPMorgan, HSBC and Bank of America. Examples of recent transactions include advising Deutsche Bank Securities, JPMorgan Chase and Barclays as lenders in relation to Blackstone’s $1.2bn acquisition of three hotels from Paulson & Co, and acting for Bank of America and Wells Fargo Bank as lenders in a $1.4bn securitized mortgage loan to Tishman Speyer secured by the MetLife Building in New York. The practice has been enhanced by the hire of special counsel Joshua Dill from American Realty Capital and the promotion to partner of Bonnie Neuman. Other key partners are Steven Herman, who has significant healthcare sector expertise, Melissa Hinkle, who specializes in the hotel and hospitality industry, and department chair William McInerney. All mentioned attorneys are based in New York.

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United States: Tax

Financial products
Financial products - ranked: tier 1

Cadwalader, Wickersham & Taft LLP

Led out of New York and Washington DC, Cadwalader, Wickersham & Taft LLP’s tax practice covers the full gamut of financial products. Providing extraordinary knowledge of this specialist area, it is well known for its expertise in relation to the development of sophisticated and innovative products. New York-based co-chair of the tax group Linda Swartz advises on structuring complex mergers and acquisitions, financings and derivative transactions. Gary Silverstein is praised for his knowledge and expertise in the securitization arena and acts for underwriters, issuers and other market participants in matters relating to mortgage-backed and asset-backed securities. Based in Washington DC, Mark Howe provides expertise in partnerships, financial products, securitizations, capital markets and commodities. Previous mandates included acting for Barclays on the issuance of structured notes and Goldman Sachs Developers Diversified Realty’s credit line securitization. Other notable clients include Morgan Stanley, JPMorgan, BNP Paribas and Deutsche Bank. Since publication, David Miller has moved to Proskauer Rose LLP.

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International tax
International tax - ranked: tier 5

Cadwalader, Wickersham & Taft LLP

Cadwalader, Wickersham & Taft LLP advises on a range of tax-efficient M&A structures, restructuring and capital markets transactions, and represents domestic and multinational corporations, private equity firms and investment banks. The team is advising Procter & Gamble on the $15bn pending split-off and tax-free merger of 43 of its beauty brands with Coty. New York-based Linda Swartz heads the team. Since publication, David Miller has moved to Proskauer Rose LLP.

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US taxes: non-contentious
US taxes: non-contentious - ranked: tier 3

Cadwalader, Wickersham & Taft LLP

Cadwalader, Wickersham & Taft LLP added a number of funds to its client roster in 2015. The team advised Magnetar Capital on its strategic capitalization of Finacity Capital Management, and a team led by Richard Nugent acted for Mercuria Energy Group in its $800m acquisition of JPMorgan Chase’s physical energy and commodities business. Other highlights included representing Procter & Gamble in a Reverse Morris Trust transaction involving the split-off and merger of 43 of its beauty brands with Coty. In the pharmaceutical sector, practice head Linda Swartz advised Salix Pharmaceuticals on its sale to Valeant Pharmaceuticals. In April 2016, David Miller moved to Proskauer Rose LLP.

Leading lawyers

Linda Swartz - Cadwalader, Wickersham & Taft LLP

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