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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

Real estate
Real estate - ranked: tier 2

Cadwalader, Wickersham & Taft LLP

Spectacular lending shopCadwalader, Wickersham & Taft LLP was active across a range of sectors, including hospitality, healthcare, retail, multifamily and industrial. Practice head William McInerney and newly promoted partner Bonnie Neuman advised JPMorgan Chase Bank, Deutsche Bank Securities, Goldman Sachs Mortgage Company, Barclays Bank and Morgan Stanley Bank on a $1.27bn mortgage loan to Hilton Worldwide, in connection with the spin-off of Hilton’s property portfolio into a public REIT; and healthcare specialist Steven Herman represented Deutsche Bank Securities in a $710m mortgage loan and two mezzanine loans aggregating $340m for the refinancing of debt in Cammeby’s Equity Holdings skilled nursing facility portfolio. The team was also busy in the acquisition finance space, with Charlotte-based Holly Marcille Chamberlain handling the $1bn acquisition financing for Wells Fargo Bank relating to DRA Advisors’ acquisition of Inland Real Estate Corporation. Other names to note include Melissa Hinkle, ‘senior statesman’ Fredric Altschuler and Charlotte-based James Carroll, who advised a consortium of lenders on a major securitization. Named attorneys are based in New York unless otherwise stated.

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United States: Dispute resolution

Corporate investigations and white-collar criminal defense
Corporate investigations and white-collar criminal defense - ranked: tier 4

Cadwalader, Wickersham & Taft LLP

Recent highlights for Cadwalader, Wickersham & Taft LLP included representing six FedEx employees in a high-profile criminal drug trafficking and money laundering investigation, acting for Pershing Square Capital Management in an investigation into the pricing of off-patent drugs, and assisting a school with investigations into historic allegations of sexual abuse. The firm is active in the FCPA space and its clients include financial institutions and pharmaceutical companies. Kenneth Wainstein heads the practice from Washington DC, where Jodi Avergun is also based. Adam Lurie left in February 2016 to join Linklaters LLP, while special counsel Joseph Facciponti joined the New York office after leaving HSBC.

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Securities litigation: defense
Securities litigation: defense - ranked: tier 4

Cadwalader, Wickersham & Taft LLP

Cadwalader, Wickersham & Taft LLP has ‘a strong core team for securities litigation’, despite several departures. Louis Solomon, Hal Shaftel and Colin Underwood moved to Greenberg Traurig, LLP; Gregory Markel joined Seyfarth Shaw LLP; and Martin Seidel joined Willkie Farr & Gallagher LLP. One significant hire is Jason Halper in New York from Orrick, Herrington & Sutcliffe LLP, who is ‘an excellent litigator - responsive and engaged’. Also in New York, newly promoted Nathan Bull has ‘has great skills and can write beautifully’, and Jonathan Hoff is acting for Salix Pharmaceuticals in a class action that alleges the company made false and misleading statements regarding its wholesaler inventory levels and its financial results.

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United States: Finance

Financial services regulation
Financial services regulation - ranked: tier 5

Cadwalader, Wickersham & Taft LLP

Best known for its expertise in capital markets and trading regulation, Cadwalader, Wickersham & Taft LLP’s team provides a ‘responsive’ and balanced service that is cognizant of the regulatory issues affecting both buy- and sell-side clients, including HSBC, JP Morgan Chase, Black Rock and Federal Home Loan Mortgage. New York-based Jeffrey Robins has ‘excellent subject matter’ expertise in derivatives regulatory matters and continues to advise ISDA on industry strategies to produce and implement documentation necessitated by Dodd-Frank. Fellow New York lawyer and ‘broker-dealer legend’ Steven Lofchie is also involved in the advice to ISDA and is working with Robins to provide the regulatory overlay regarding the establishment of prime brokerage operations for Société Generale, Scotiabank and Wells Fargo. Charlotte-based partner Scott Cammarn spearheads the firm’s work on the bank regulatory front, which includes advising international banks on Volcker Rule compliance.

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 assists private foundations with all matters, including governance, regulatory matters, tax, real estate and litigation. The firm is national legal counsel to The Salvation Army and regularly advises the client on law, regulations and administrative directives applicable to faith-based organizations, as well as in administering its self-insured employee health plan. In the healthcare sector, the team has been retained by Burke Rehabilitation Hospital regarding its affiliation with Montefiore Health System (MHS), and has also been representing the Foundation and Research Institute, which was previously associated with Burke but remains independent from MHS. Key lawyer at the practice Paul Mourning also represents various pro bono NFP clients under the firm’s ‘incubator’ scheme. Stephanie Marcantonio was recently promoted to the partnership and focuses on corporate and financial transactions. Mourning and Marcantonio are both based in New York.

Next generation lawyers

Stephanie Marcantonio - Cadwalader, Wickersham & Taft LLP

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

Cadwalader, Wickersham & Taft LLP

Cadwalader, Wickersham & Taft LLP leverages its financial services and litigation teams in representing investment banks in restructurings. The New York team, which includes co-chair Greg Petrick, Ingrid Bagby, recently promoted partner Michele Maman and senior counsel Mark Ellenberg, represents MBIA in multiple capacities relating to two collateral loan obligation investment funds, Zohar I and Zohar II; the group recently won a case for the client against Patriarch, the sponsor and former manager of the funds, in a claim that would have prevented the client from buying all assets noticed for sale. The New York financial restructuring group has also been representing Morgan Stanley Capital Group as first lien swap counterparty and an intervenor-defendant in an inter-creditor adversary proceeding in connection with the Chapter 11 of Energy Future Holdings. In another example of the firm’s representation of swap providers, Bagby has been representing Morgan Stanley Capital Services as the holder of the largest derivatives-related claim in the Peabody Energy Chapter 11, in which the debtor has filed a Chapter 11 plan that provides for a 100% recovery of swap claims. Yushan Ng co-chairs the practice from the London office.

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Restructuring (including bankruptcy): municipal
Restructuring (including bankruptcy): municipal - ranked: tier 1

Cadwalader, Wickersham & Taft LLP

Cadwalader, Wickersham & Taft LLP is well known for its distressed municipal finance practice and has previously had roles in the Chapter 9 cases of Orange County and Jefferson County. The firm has represented Assured as the largest creditor in the debt crisis of the Commonwealth of Puerto Rico, including negotiating the terms of a restructuring support agreement involving an exchange of the Puerto Rico Electric Power Authority (PREPA) legacy bonds for securitized bonds. Key partner Ivan Loncar also represents the client in litigation against Puerto Rico for violations of PROMESA regarding the diversion of pledged revenues. In the Detroit bankruptcy, the firm represented Bank of America Merrill Lynch as counterparty to several interest rate swaps with the city; led by Lary Stromfeld and the corporate restructuring and litigation departments, the settlement of the swaps was an unprecedented structure in bankruptcy and municipal finance. Stromfeld and Ingrid Bagby co-chair the practice from New York.

Leading lawyers

Lary Stromfeld - Cadwalader, Wickersham & Taft LLP

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Structured finance
Structured finance - ranked: tier 1

Cadwalader, Wickersham & Taft LLP

With extensive regulatory experience and an active transactional practice, Cadwalader, Wickersham & Taft LLP is highly regarded in every major area of structured finance. As a testimony to the firm’s regulatory expertise, Jeffrey Robins, Lary Stromfeld and Steve Lofchie are assisting the International Swaps and Derivatives Association (ISDA) with the development of new templates and amendments to ISDA master agreements and credit support documentation to accommodate legislative changes governing the regulation of the OTC derivatives market and security-based swaps. Ivan Loncar helps lead a team that is acting for Assured Guaranty Corp and Assured Guaranty Municipal Corps regarding a structure aimed to defease certain legacy bonds issued by Puerto Rico Electric Power Authority through a new issuance by a special purpose issuer, Puerto Rico Electric Power Authority Revitalization Corporation; the new securitization will cover $7bn of legacy debt. On the securitization side, Stuart Goldstein and Charlotte-based David Burkholder assisted Wells Fargo with Wells Fargo Commercial Mortgage Trust 2016-BNK1, which was the first risk-retention-compliant CMBS transaction under Dodd-Frank. Additionally, Neil Weidner advised BNP Paribas on note repackaging and CLO transactions, accounting for EU risk retention rules. Richard Schetman, Michael Gambro, Ray Shirazi and Brian Foster are also key contacts.

Leading lawyers

Ivan Loncar - Cadwalader, Wickersham & Taft LLP

Lary Stromfeld - Cadwalader, Wickersham & Taft LLP

Neil Weidner - Cadwalader, Wickersham & Taft LLP

Ray Shirazi - Cadwalader, Wickersham & Taft LLP

Next generation lawyers

Brian Foster - Cadwalader, Wickersham & Taft LLP

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United States: Industry focus

Energy regulatory: conventional power
Energy regulatory: conventional power - ranked: tier 3

Cadwalader, Wickersham & Taft LLP

Cadwalader, Wickersham & Taft LLP is best known for its ‘strong enforcement practice’ and expertise in contentious and non-contentious energy commodity trading work. The team, which includes Washington DC-based key contact Mark Haskell, frequently represents power marketers, local distribution companies, end users, producers and industrial consumers before FERC and CFTC. Counsel George Billinson is another name to note.

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Energy regulatory: oil and gas
Energy regulatory: oil and gas - ranked: tier 3

Cadwalader, Wickersham & Taft LLP

Cadwalader, Wickersham & Taft LLP focuses on litigation, CFTC and FERC compliance work, energy commodity trading and enforcement defense. The team frequently represents commercial energy market participants, commodities merchants and trading companies, banks, commercial companies, brokerage firms and hedge funds in the latter and also deals with DOE and FERC export authorization proceedings. The highly recommended Mark Haskell is a key contact.

Leading lawyers

Mark Haskell - Cadwalader, Wickersham & Taft LLP

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United States: Intellectual property

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

Cadwalader, Wickersham & Taft LLP

At Cadwalader, Wickersham & Taft LLP, highlights included successfully defending AT&T Mobility in an infringement case related to 4G wireless networks, in which it obtained a favorable summary judgment on the majority of claims, and defending AngioDynamics against charges of infringement of three patents, in which it prevailed in three inter partes proceedings against all asserted patents. Senior counsel Christopher Hughes heads the IP practice group, advising on patent, trade secret and trademark litigation. Dorothy Auth is another key practitioner along with John Moehringer, who focuses on electrical engineering and computer science-related cases brought to the ITC. All named attorneys are based in New York.

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United States: Investment fund formation and management

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

Cadwalader, Wickersham & Taft LLP

Cadwalader, Wickersham & Taft LLP advises funds on a range of matters, often involving complex and cross-border regulatory matters. Dorothy Mehta and Mark Howe advised Morgan Stanley on the sale of its funds-of-funds business, while Richard Brand and Kenneth Wainstein advised activist fund Pershing Square Capital Management on issues arising from its acquisition of a stake in Valeant Pharmaceuticals. Steven Lofchie and Ray Shirazi have extensive fund manager expertise, as well as a track record of advice on prime brokerage issues. Other clients include family offices and other investors. Other than Howe, who is based in Washington DC, the named lawyers are located in New York.

Next generation lawyers

Dorothy Mehta - Cadwalader, Wickersham & Taft LLP

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United States: Labor and employment

Employee benefits and executive compensation (transactions)
Employee benefits and executive compensation (transactions) - ranked: tier 4

Cadwalader, Wickersham & Taft LLP

The New York-based practice at Cadwalader, Wickersham & Taft LLP provides advice on fiduciary standards and transactional matters. In the corporate space, the firm assisted The Medicines Company with the divestiture of three of its cardiovascular products to Chiesi Farmaceutici. The firm also represented the senior management of NYU Lutheran in connection with their separation of employment after their acquisition by NYU Langstone Medical Center. Practice head James Frazier and Linda Swartz are also key contacts. Gillian Moldowan moved to Shearman & Sterling LLP.

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United States: M&A/corporate and commercial

M&A: large deals ($1bn+)
M&A: large deals ($1bn+) - ranked: tier 6

Cadwalader, Wickersham & Taft LLP

Cadwalader, Wickersham & Taft LLP has a broad-based public and private M&A practice, with particular expertise in healthcare and financial services mandates. Corporate governance expertise and investment fund clients are very much at the heart of the firm, providing a basis for its flourishing shareholder activist work on behalf of activists as well as managers and directors. Clients include The Medicines Company, Willis Towers Watson, AngioDynamics and Access Industries. Fund clients include Pershing Square Capital Management and Elliott Capital Management. It advised The Medicines Company on the sale of three of its marketed cardiovascular products, and it assisted Bill Ackman’s hedge fund Pershing Square with its investment in Valeant Pharmaceuticals. Richard Brand is recognized for his public M&A and shareholder activism expertise and William Mills has an excellent record in healthcare deals. Christopher Cox has retired from the partnership and is now senior counsel at the firm in addition to holding a senior position at key client The Medicines Company.

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United States: Tax

Financial products
Financial products - ranked: tier 1

Cadwalader, Wickersham & Taft LLP

Gary Silverstein and head of tax Linda Swartz now lead the financial products practice at Cadwalader, Wickersham & Taft LLP, following the departure of David Miller to Proskauer Rose LLP. The New York-based team focuses on securitization, debt issuances, mortgage finance and collateralized loan obligations (CLOs). Silverstein advised Deutsche Mortgage & Asset Receiving Corporation on a $975m securitization of a pool of 30 fixed-rate loans, while Mark Howe is acting for multiple financial institutions in the ongoing issuance of structured products. Special counsel Jason Schwartz served as an adviser to Oak Hill Advisors in connection with repo financings and the securitization of portfolios of non-performing residential mortgage loans.

Next generation lawyers

Jason Schwartz - Cadwalader, Wickersham & Taft LLP

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International tax
International tax - ranked: tier 5

Cadwalader, Wickersham & Taft LLP

Linda Swartz leads Cadwalader, Wickersham & Taft LLP’s international tax practice, which is based across New York and Washington DC. The lawyers handle complex M&A structures, spin-offs, inversions, Reverse Morris Trusts, divestitures and joint ventures. Swartz and Edward Wei, who was promoted to partner in January 2017, advised Procter & Gamble as special tax counsel on the split-off and tax-free merger of its global fine fragrances, salon professional, cosmetics and retail hair color businesses as well as its specialty beauty brands with Coty in a Reverse Morris Trust transaction. The pair also advised The Medicines Company on its sale of three of its marketed cardiovascular products and related assets to Italian pharmaceutical company Chiesi Farmaceutici.

Next generation lawyers

Edward Wei - Cadwalader, Wickersham & Taft LLP

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US taxes: non-contentious
US taxes: non-contentious - ranked: tier 2

Cadwalader, Wickersham & Taft LLP

Cadwalader, Wickersham & Taft LLP’s ‘premier tax practice’ attracts praise for its innovative approach to tax-efficient structures, as well as for its transactional tax advice. Linda Swartz acted as tax counsel for Procter & Gamble during the $11.4bn merger of its specialty beauty business with Coty, and worked alongside Edward Wei for The Medicines Company during the $792m sale of three of its cardiovascular products to Italian corporation Chiesi Farmaceutici. The firm has also represented global manufacturer The Dover Corporation on the reorganization and sale of Texas Hydraulics to Chicago-based private equity firm Wynnchurch Capital. Other clients include Ashford Hospitality Prime and J.P. Morgan.

Leading lawyers

Linda Swartz - Cadwalader, Wickersham & Taft LLP

Next generation lawyers

Edward Wei - Cadwalader, Wickersham & Taft LLP

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