Cadwalader, Wickersham & Taft LLP > Washington DC, United States > Firm Profile

Cadwalader, Wickersham & Taft LLP
700 SIXTH STREET, N.W.
WASHINGTON DC 20001
United States

Finance > Restructuring (including bankruptcy): municipal Tier 1

The practice at Cadwalader, Wickersham & Taft LLP is best known for its involvement in ‘countless complex and challenging‘ matters pertaining to both state and local governments. It plays a prominent role in the restructuring of Puerto Rico; it represents the ‘largest creditor‘, Assured Guaranty Corporation and Assured Guaranty Municipal Corporation, which holds $5.6bn of bonds issued by Puerto Rico and its public entities. Lary Stromfeld and counsel Casey Servais and Thomas Curtin  played key roles in this matter. Both Ivan Loncar and Ingrid Bagby head the New York-based practice, with expertise including the handling of derivatives, municipal finance, Chapter 9 and Chapter 11 proceedings and out-of-court restructurings.

Practice head(s):

Ivan Loncar; Ingrid Bagby

Other key lawyers:

Lary Stromfeld; Michele Maman; Casey Servais; Thomas Curtin

Testimonials

‘Highly effective commercial team skilled at complex structuring and mitigating risks from tax and regulatory concerns while prioritizing practicality and “what can get done”. No firm is close to rivaling their combined expertise in bankruptcy, municipal credit and securitization and structuring.’

‘Lary Stromfeld and Ivan Loncar are skilled, hard working, accessible and straight shooters with an unmatched experience set.’

‘First-class all around.’

‘Extremely thoughtful, efficient and no topic is beyond their reach. Ivan Loncar is a stand out.’

 

Key clients

Assured Guaranty Corp. and Assured Guaranty Municipal Corp.

Bank of America Merrill Lynch

Fundamental Advisors

Morgan Stanley

Goldman Sachs

Work highlights

    Finance > Structured finance: derivatives and structured products Tier 1

    Cadwalader, Wickersham & Taft LLP stands out for putting forward a comprehensive offering for buy- and sell-side clients, with expertise across the full range of asset classes. The transactional team works closely with the firm’s tax, regulatory and financial restructuring experts to offer a full service to clients. Areas of novel expertise include structured note programs, algorithmic and proprietary indices, currency-, commodity- and fixed income-linked products and emerging market notes. In Charlotte, Scott Cammarn jointly heads the group with Richard Schetman in New York; an expert om derivatives work related to fixed-income and credit products, as well as funded derivatives. Also in New York, Lary Stromfeld, a member of the management committee, is a specialist in reference rates; and Ivan Loncar is another funded derivatives expert; Brian Foster is also recommended.

    Practice head(s):

    Scott Cammarn; Richard Schetman

    Other key lawyers:

    Testimonials

    ‘Jed Miller is very creative and value added to the process. Excellent commercial instincts. Client service is top tier.’

    ‘First-class all around’

    ‘Extremely thoughtful, efficient and no topic is beyond their reach. Ivan Loncar and Jed Miller are particular stand outs’

    Key clients

    Arbor Realty Trust, Inc.

    Assured Guaranty Corp.

    Bank of Nova Scotia

    BNP Paribas

    Federal Reserve’s Alternative Reference Rates Committee (ARRC)

    Greystone & Co., Inc.

    MBIA, Inc.

    Morgan Stanley

    Nearwater Capital

    Security Industry and Financial Markets Association (SIFMA) and numerous financial institutions

    Senator Investment Group, LP

    Société Générale S.A.

    Toronto-Dominion Bank

    UBS AG

    Z Capital

    Work highlights

    • Advising Assured Guaranty Corp. and Assured Guaranty Municipal Corp. on the Commonwealth of Puerto Rico’s restructuring of approximately $73 billion of outstanding bond debt
    • Advised a number of market participants on the impact of derivatives margin requirements across the globe.
    • Advising Nearwater Capital in connection with the development, negotiation and implementation of U.S.-, UK- and EU-compliant risk retention financing facilities with dozens of sponsors of asset- and mortgage-backed securities.

    Finance > Structured finance: securitization Tier 1

    At Cadwalader, Wickersham & Taft LLP, known as ‘a top law firm for companies interested in engaging in structured finance transactions’, the securities group sits within the firm’s well-respected capital markets practice. In addition to mortgage-backed securities, the group has vast experience in CLOs and asset-backed securities. In New York, Mike Gambro leads the firm’s work on Freddie Mac’s multifamily loan securitization program. He jointly heads the team with Charlotte’s Stuart Goldstein , who is a key name in the commercial real estate CLO practice. New York’s Neil Weidner is a veteran of the structured finance arena; Gregg Jubin, managing partner of the Washington DC office, leads on asset-based finance transactions, including in relation to corporate and auto loans. Michelle Abad is an expert in mortgage-backed securities and mortgage servicing rights securitization notes.

    Practice head(s):

    Mike Gambro; Stu Goldstein

    Other key lawyers:

    Neil Weidner; Gregg Jubin; Joseph Beach; Chris Gavin; Michelle Abad

    Testimonials

    ‘Cadwalader is a top law firm for companies interested in engaging in structured finance transactions related to residential mortgages and mortgage servicing rights. They have the expertise to handle complex transactions and are familiar with all of the outside counsel for lenders and other counterparties.’

    ‘The partners and associates that I have worked with are diligent, intelligent and helpful. Chris Gavin and Michelle Abad are always going the extra mile to close transactions on our company’s aggressive timelines.’

    Key clients

    Credit Suisse Securities (USA)

    Deutsche Bank AG

    Goldman Sachs

    HealthCare Royalty Partners

    J.P. Morgan Securities

    Lument Finance Trust

    Morgan Stanley

    Ares Capital Management

    UNIFY Financial Credit Union

    Wells Fargo

    Work highlights

    • Advised Wells Fargo in connection with the $3 billion permanent financing for One Vanderbilt.
    • Advised a mortgage lender and affiliates in connection with the issuance of a $1 billion CRE CLO offering.
    • Advised UNIFY Financial Credit Union as sponsor on its $300 million auto securitization, which was only the second time a federal credit union used securitization as a funding source.

    M&A/corporate and commercial > M&A: middle-market ($500m-999m) Tier 1

    The New York-based team at Cadwalader, Wickersham & Taft LLP thrives in respect of public and private M&A, shareholder activism, SPAC deals, board advisory, corporate governance and sell-side LBO matters. Richard Brand , who has extensive knowledge of takeover and defense strategies, also has notable experience in transactions pertaining to distressed companies. He co-chairs the practice alongside William Mills, whose core strengths include mergers, divestitures, spin-offs, tender and exchange offers, acquisitions and joint ventures. Joshua Apfelroth is an up-and-coming partner with expertise in transactions, securities, director duties, board composition, compliance and disclosure issues.    

    Practice head(s):

    William Mills; Richard Brand

    Other key lawyers:

    Stephen Fraidin; Joshua Apfelroth; Braden McCurrach; Daniel Raglan

    Testimonials

    ‘Richard Brand is a go-to guy in this world. A great lawyer – smart and creative.’

    Key clients

    Pershing Square Tontine Holdings, Ltd.

    Senator Investment Group

    Thoma Bravo Advantage

    Forbes Global Media Holdings Inc.

    Hudson Executive Capital

    Sachem Head Capital Management

    40 North

    Bow Street LLC

    Superior Integrated Solutions/Darwin Automotive

    Monocle Acquisition Corporation

    EquiLend Holdings LLC

    FourKorners LLC

    Gubagoo Inc.

    IQ-EQ

    Dealer Car Search

    Credit Bureau Connection

    Work highlights

    • Acted for Senator Investment Group LP in its proposed unsolicited offer, along with Cannae Holdings, to take CoreLogic private in a deal valuing the California-based real estate analytics business at $7bn.
    • Acted for Thoma Bravo Advantage in its $11.1bn business combination with ironSource Ltd.
    • Acted for one, a SPAC, in its $2.1bn merger with Markforged, Inc.

    Tax > Financial products Tier 1

    Cadwalader, Wickersham & Taft LLP‘s tax group, headed by Linda Swartz, sits alongside the firm’s transactional practices to advise on structuring, documentation and execution of complex, tax-advantaged securities transactions and products. The team also works closely with lawyers in the firm’s London office, to provide UK tax law advice. Clients include high-profile financial institutions, insurance companies, funds and financial intermediaries. The team has particular expertise in structuring securitization vehicles, and lawyers are well-versed in mortgage-backed and asset-backed products, areas led on by New York’s Gary Silverstein . In Washington DC, Mark Howe  has significant experience in advising on tax issues arising from derivatives product, spanning a wide variety of asset classes.

    Practice head(s):

    Linda Swartz

    Other key lawyers:

    Mark Howe; Gary Silverstein

    Key clients

    Alternative Reference Rates Committee (ARRC)

    Assured Guaranty Corp. and Assured GuarantyMunicipal Corp.

    BSOF Parallel Master Fund L.P.

    Credit Suisse

    Deutsche Bank

    Freddie Mac

    Investec

    J.P. Morgan

    Lument Finance Trust, Inc.

    MBIA, Inc.

    Mizuho Capital Markets LLC

    Morgan Stanley

    Thoma Bravo Advantage

    Wells Fargo

    Alternative Reference Rates Committee (ARRC)

    Assured Guaranty Corp. and Assured Guaranty Municipal Corp.

    BSOF Parallel Master Fund L.P.

    Credit Suisse

    Deutsche Bank

    Freddie Mac

    Investec

    J.P. Morgan

    Lument Finance Trust, Inc.

    MBIA, Inc.

    Mizuho Capital Markets LLC

    Morgan Stanley

    Thoma Bravo Advantage

    Wells Fargo

    Work highlights

    • Advising Assured Guaranty Corp. and Assured Guaranty Municipal Corp. (“Assured”) in connection with the Commonwealth of Puerto Rico’s restructuring of approximately $73 billion of outstanding bond debt.
    • Advising ARRC on developing best practices for fallback language across all cash products, as well as advising on litigation preparedness, standard conventions for SOFR note issuances, and potential legislative solutions for legacy transactions.
    • Advised Wells Fargo as co-lenders on a $3 billion single-asset/single-borrower securitized refinancing of the newly developed One Vanderbilt skyscraper in Midtown Manhattan.

    M&A/corporate and commercial > Shareholder activism Tier 2

    Cadwalader, Wickersham & Taft LLP is one of a few full-service firms with vast experience of acting for both activists and boards. In 2020, highlights included acting for Senator Investment Group on its proposed unsolicited offer, along with Cannae Holdings, to take CoreLogic private; this matter represented the first large hostile takeover attempt worldwide during the coronavirus pandemic. In addition, the firm advised Sachem Head on the addition of managing partner Scott Ferguson to the company’s board. Richard Brand, who is ‘smart, flexible and always has inventive solutions‘, leads the practice with William Mills. Stephen Fraidin‘s work ranges from proxy contests to special committees. Areas of focus for the group include financial services and REITs. All named practitioners are based in New York.

    Practice head(s):

    William Mills; Richard Brand

    Other key lawyers:

    Testimonials

    ‘Richard Brand is one of the best attorneys I have ever worked with. He is smart, flexible and always has inventive solutions.’

    Key clients

    Senator Investment Group

    D.E. Shaw & Co.

    Mantle Ridge

    Sachem Head Capital Management

    Hudson Executive Capital

    Ashford Hospitality Trust

    40 North Management

    Bow Street LLC

    Vann Avedisian

    Wheeler Real Estate Investment Trust, Inc.

    Work highlights

    • Assisted Senator Investment Group LP with its proposed unsolicited offer, along with Cannae Holdings, to take CoreLogic private.
    • Advised D.E. Shaw & Co. on its efforts to encourage Exxon Mobil Corp. to reduce spending in order to improve performance and maintain its dividend, as well as efforts to improve its environmental reputation.
    • Advised Hudson Executive Capital on its proposed acquisition, along with funds managed by affiliates of Apollo Global Management, of Cardtronics plc, a leading non-bank ATM deployer, in a transaction valued at $2.3 billion.

    Real estate > Real estate finance Tier 2

    Historically dominant in the CMBS space, Cadwalader, Wickersham & Taft LLP continues to strengthen its expertise in syndicated, acquisition and construction lending, as well as loans backed by credit leases. Leading the practice from New York, Bonnie Neuman is a member of CREFC Women’s Network, and represents investment banks and investors across all facets of lending, in particularly in origination of mortgage and mezzanine loans, loan servicing, non-performing loan securitizations, and loan restructuring. Special counsel Nicholas Brandfon in the same office, is also of note. Also experienced in a wide variety of lending transitions, Holly Chamberlain in Charlotte is active in preferred equity investments in real estate joint ventures, unsecured real estate loans, single-family rental portfolios and workouts.      

    Practice head(s):

    Bonnie Neuman

    Key clients

    Arbor Commercial Mortgage LLC

    Bank of America, N.A.

    Citi Real Estate Funding Inc.

    Deutsche Bank Securities, Inc.

    JPMorgan Chase Bank, N.A.

    Morgan Stanley Bank, N.A.

    Wells Fargo Bank, N.A.

    HSBC Bank USA, N.A.

    Credit Suisse Securities (USA) LLC

    U.S. Bank National Association

    Work highlights

    • Represented JPMorgan Chase Bank, N.A., Citi Real Estate Funding Inc., Morgan Stanley Bank, N.A. and Wells Fargo Bank, N.A. as lenders in a $3.15bn single-asset, single-borrower (SASB) securitized mortgage loan, secured by the Aria Resort & Casino and Vdara Hotel and Spa.
    • Representing Deutsche Bank Securities Inc and other lenders in an approximately $1bn mortgage loan secured by a portfolio of 110 hotel properties and certain land and ancillary assets in connection with the approximately $1.5bn pending acquisition of CorePoint Lodging Inc.
    • Represented JPMorgan Chase Bank, N.A. as lender in a $414m securitized mortgage loan to finance the acquisition of One Memorial Drive, a Class A office building located on the Charles River in Cambridge, Massachusetts by MetLife Investment Management, the institutional asset management business of MetLife, Inc., and Norges Bank Investment Management, representing the largest single-asset U.S. office transaction to date in 2021.

    Antitrust > Civil litigation/class actions: plaintiff Tier 3

    Cadwalader, Wickersham & Taft LLP joins the ranking with a growing practice in antitrust which includes high-stakes class actions in the food, commodities, technology, and healthcare sectors. The firm is active in matters pertaining to price-fixing, elusive dealing and tying, monopolization, and opt-out cases, among others. Philip Iovieno, based in New York, represents defendants and plaintiffs alike in federal and state courts, leading the antitrust litigation department together with Brian Wallach, who is located in the firm’s Washington DC office. Head of commercial litigation Nicholas Gravante in New York has extensive trial experience in antitrust cases as well as commercial and securities litigation.

    Practice head(s):

    Philip Iovieno; Brian Wallach

    Other key lawyers:

    Work highlights

    • Representing more than a dozen opt-out plaintiffs in an ongoing antitrust lawsuit in connection with an alleged multi-faceted price-fixing scheme.
    • Representing BJ’s Wholesale Club as plaintiff in an ongoing antitrust litigation matter.
    • Representing AngioDynamics as plaintiffs in an ongoing antitrust lawsuit against a market competitor.

    Dispute resolution > Corporate investigations and white-collar criminal defense

    Cadwalader, Wickersham & Taft LLP has a strong track record in FCPA matters and is well versed in investigations and enforcement actions brought by authorities such as the DOJ and SEC. Particular areas of strength for the practice include money laundering and asset forfeiture, securities and commodities, sanctions, antitrust and healthcare fraud. The team is led from Washington DC by Jodi Avergun, who is a name to note for regulatory matters and white-collar crime, acting for both companies and individuals. In December 2020, Mark Grider joined in Washington DC from the DOJ; and in July 2021, Philip Khinda joined from Steptoe & Johnson LLP in New York.

    Practice head(s):

    Jodi Avergun

    Other key lawyers:

    Anne Tompkins; Todd Blanche; Douglas Gansler; Rachel Rodman; Philip Khinda; Mark Grider

    Testimonials

    ‘Great value for clients, excellent advice, strong relationships with DOJ and other agencies in Washington and New York.’

    ‘Todd Blanche is outstanding and can be trusted with the most high-stakes litigation.’

    Work highlights

      Dispute resolution > Securities litigation: defense Tier 3

      At Cadwalader, Wickersham & Taft LLP, the lawyers are praised as ‘extremely smart and always willing to do whatever it takes to provide the highest level of client service‘. Traditionally seen as a key adviser to financial institutions, the firm increasingly acts for corporate issuers, as well as investment banks, hedge funds, private equity houses and regulatory bodies. The firm draws on its specialists in capital markets, finance, derivatives, and financial regulation to handle litigation relating to financial products and services, though it also has deep expertise in sectors such as travel and leisure, real estate and medical devices. Jason Halper in New York leads the practice and clients describe him as ‘ top-notch, a great trial lawyer and always very knowledgeable about the issues that matter to the client‘. He recently acted for a major global financial institution in cases concerning the collapse of Archegos Capital Management, which had entered into total return swaps transactions with a number of banks.

      Practice head(s):

      Jason Halper

      Testimonials

      ‘Excellent team led by Jason Halper. Extremely smart and always willing to do whatever it takes to provide the highest level of client service.’

      ‘Jason Halper is top-notch – great trial lawyer and always very knowledgeable about the issues that matter to the client.’

      ‘They are extremely knowledgeable and commercial minded to get things done.’

      ‘They engage fully from the beginning and can help analyze complex situations to provide the best possible outcome. Jason Halper is fantastic.’

      ‘I worked closely with the Head of Litigation and another partner on a white-collar fraud matter. They were both excellent. Understanding the business, risk tolerance, and responsive to our needs.’

      ‘Jason Halper – very easy to work with. He is responsive and has a good understanding of risk appetite, is responsive, and has strong legal knowledge of the issues.’

      Key clients

      Corindus Vascular Robotics, Inc.

      Endurance U.S. Holding Corp.

      Nikola

      Kohl’s

      Hudson Executive Capital

      Major global financial institution

      Several major global financial institutions

      Janus Henderson Group plc, Janus Index & Calculation Services LLC, and Janus Distributors LLC

      Janus Henderson Group plc, Janus Index & Calculation Services LLC (n/k/a Janus Henderson Indices LLC) and Janus Distributors LLC (together, “Janus”)

      Ashford Trust

      Corindus Vascular Robotics, Inc.

      Endurance U.S. Holding Corp.

      Nikola

      Kohl’s

      Hudson Executive Capital

      Major global financial institution

      Several major global financial institutions

      Janus Henderson Group plc, Janus Index & Calculation Services LLC, and Janus Distributors LLC

      Janus Henderson Group plc, Janus Index & Calculation Services LLC (n/k/a Janus Henderson Indices LLC) and Janus Distributors LLC (together, “Janus”)

      Ashford Trust

      Work highlights

      • Represented Corindus Vascular Robotics, Inc. in merger-related litigation.
      • Representing Nikola Motors in connection with civil suits alleging federal securities law violations and breaches of fiduciary duties by directors of Nikola.
      • Represented major global financial institutions in connection with the implosion of Archegos Capital Management.

      Finance > Financial services regulation Tier 3

      Cadwalader, Wickersham & Taft LLP offers broad expertise across financial services regulation, with experience working for clients including prominent banks, broker-dealers and swap dealers. The practice also continues to advise on LIBOR transition including serving as counsel to the Alternative Reference Rates Committee. In the banking space, Scott Cammarn frequently advises clients on compliance with Dodd-Frank, acting for both international and domestic US banks on issues such as the Volcker Rule. Cammarn also serves as head of the firm’s financial services department and is based in Charlotte. The team’s expertise in bank regulation was bolstered in March 2021 by the addition of Daniel Meade to the Washington DC office; Meade joined from Wells Fargo and has past experience working in-house and in government on a range of regulatory issues.

      Practice head(s):

      Scott Cammarn

      Other key lawyers:

      Key clients

      ABN AMRO

      Ally Financial

      Alternative Reference Rates Committee (ARRC) (Sponsored by New York Fed)

      Annaly Capital Management

      Bank of America Merrill Lynch

      Bank of Ireland

      Bank of Montreal

      Bank of Nova Scotia

      Barclays

      BNP Paribas

      Canadian Imperial Bank of Commerce

      Castle Creek Capital

      CITIC Securities / CLSA

      Citigroup

      Common Bond

      Community Bank System, Inc.

      Credigy

      Credit Agricole

      Credit Suisse

      Deutsche Bank

      Dexia

      Federal Home Loan Mortgage Corp

      First Key

      Goldman Sachs

      Gresham

      HSBC

      Industrial and Commercial Bank of China

      ING

      JPMorgan Chase

      LendingHome

      Macquarie

      Mizuho

      Morgan Stanley

      MUFG

      National Bank of Canada

      Natixis

      Navient

      Park Avenue Finance

      Royal Bank of Canada

      Seacoast National Bank

      Shanda Asset Management

      Shell Oil Company

      Social Finance Inc.

      Société Générale

      Standard Chartered Bank

      State Street Bank

      TD Bank

      The Bank of New York Mellon

      TIAA

      UBS

      United Overseas Bank

      U.S. Bank

      Wells Fargo

      Wintrust

      Industry focus > Transport: shipping - finance Tier 3

      Cadwalader, Wickersham & Taft LLP‘s New York-based practice is particularly noted for its representation of creditors and bondholders in distressed shipping restructurings. Its experience includes handling issues involving foreign shipping companies and Chapter 11 filings, bankruptcy structures, and maritime liens and vessel arrests. The practice’s transactional experience also includes advising on securities offerings. Key figures within the team are co-chair of the corporate practice, Richard Brand, who regularly acts on shipping industry-related matters; and financial restructuring group chair Gregory Petrick, who divides his time between London and New York. Joshua Apfelroth routinely advises shipping companies on public offerings and restructurings.

      Practice head(s):

      Other key lawyers:

      Key clients

      Safe Bulkers

      Tax > US taxes: non-contentious Tier 3

      Cadwalader, Wickersham & Taft LLP is highly experienced in tax efficient M&A structuring and asset-backed securitizations, as well as a range of restructuring and reorganization mandates for numerous blue-chip clients. Clients regard Linda Swartz as the ‘gold standard‘ for transactional tax lawyers, citing her ‘meticulous planning‘ in M&A, joint ventures, financings, and derivative transactions. Gary Silverstein focuses on the tax aspects of mortgage-backed and asset-backed securities, while Mark Howe , who splits his time between the firm’s New York and DC offices, specializes in domestic and offshore investment funds. All named lawyers are based in New York unless noted otherwise.

      Practice head(s):

      Linda Swartz

      Other key lawyers:

      Gary Silverstein; Mark Howe

      Testimonials

      ‘Cadwalader applies their unmatched federal income expertise to help lead their clients through complex structured transactions.’

      ‘Linda Swartz is the gold standard for structured M&A transactions. Once a transaction is completed, Tax VPs and CFOs rest easy knowing that Linda’s meticulous planning details have minimized their risks.’

      Key clients

      Assured Guaranty Corp. and Assured Guaranty Municipal Corp.

      MBIA, Inc.

      Pershing Square Tontine Holdings

      Kingsland Holdings Limited

      Alternative Reference Rates Committee

      Bank of America

      one

      Forbes Global Holdings

      J. Aron & Company LLC

      Thoma Bravo Advantage

      Sachem Head Capital Management

      Hudson Executive Capital

      Monocle Acquisition Corporation

      Morgan Stanley

      EquiLend

      Mason Industrial Technology

      Work highlights

      • Representing Assured Guaranty Corp. and Assured Guaranty Municipal Corp in connection with the Commonwealth of Puerto Rico’s restructuring of approximately $73bn of outstanding bond debt.
      • Represented MBIA Insurance Corp. and MBIA Inc. in multiple capacities relating to two of three collateral loan obligation investment funds referred to collectively as the “Zohar Funds”.
      • Representing Kingsland Holdings in the Chapter 11 cases for Avianca Holdings.

      Finance > Commercial lending Tier 4

      Cadwalader, Wickersham & Taft LLP is developing a strong reputation for lender side work and has a significant presence on the Charlotte market. Michael Mascia, Christopher McDermott and Jeffrey Nagle co-lead the team which, alongside its transactional work, gained widespread recognition in 2021 for its work advising the Alternative Reference Rates Committee on contractual fallback language for LIBOR denominated bilateral business loans and securitizations. The firm expanded its team throughout 2021 with the February addition of  partner Chad Stackhouse from Troutman Pepper, in addition to special counsels Leah Edelboim in January and Perry Hicks in October from Clifford Chance and Hunton Andrews Kurth LLP respectively.

      Practice head(s):

      Michael Mascia; Christopher McDermott; Jeffrey Nagle

      Key clients

      Alternative Reference Rates Committee

      The Loan Syndications and Trading Association

      The Renco Group Inc.

      Bank of America Corp.

      Coöperatieve Rabobank U.A., New York Branch

      Federal Reserve Bank of Boston

      Kingsland Holdings Limited

      BNP Paribas

      MUFG Bank Ltd.

      Investec Bank plc

      ING Capital LLC

      Natixis

      Work highlights

      • Advising the Alternative Reference Rates Committee in drafting recommended contractual fallback language for U.S. Dollar LIBOR denominated bilateral business loans and securitizations.
      • Advised BNP Paribas on a $1.7bn senior secured working capital facility for Castleton Commodities International LLC.
      • Advised Coöperatieve Rabobank U.A., New York Branch, on a $500m sustainability-linked senior secured revolving credit facility for Mercon Coffee Group.

      Labor and employment > Employee benefits, executive compensation and retirement plans: transactional Tier 4

      Cadwalader, Wickersham & Taft LLP provides ‘practical and clear advice on ERISA issues’ relating to M&A and counts financial services companies, as well as investment managers, among its roster of key clients. Key clients include Morgan Stanley, BlackRock and Bank of America. Based in New York, James Frazier leads the practice and focuses on ERISA fiduciary compliance and prohibited transaction matters. Following the departure of David Teigman in September 2021, Washington DC-based partner Michael Bergmann shortly joined from Skadden, Arps, Slate, Meagher & Flom LLP.

      Practice head(s):

      James Frazier

      Other key lawyers:

      Testimonials

      ‘The people we work with are both extremely knowledgeable and approachable. Their advice is always correct and delivered in an understandable fashion.’

      ‘James Frazier really understands the intersection of ERISA, investment and business issues.’

      ‘Practical and clear advice on ERISA issues.’

      Key clients

      Bank of America

      Hudson Executive Capital

      Monocle Acquisition Corp.

      Wells Fargo

      The Howard Hughes Corporation

      Ashford

      Community Bank System

      Morgan Stanley

      Gresham Investment Management

      AngioDynamics

      Elliott Management

      BlackRock

      UBS

      Tax > International tax Tier 4

      Cadwalader, Wickersham & Taft LLP is particularly strong in cross-border US-UK tax matters related to M&A structuring, international spin-offs, inversions, divestitures, and joint ventures. Its clients include multinational corporations, private equity and investment firms, and investment banks. The team also covers cross-border restructurings, SPACs and de-SPAC work, reorganizations, and developing structuring securitization vehicles. Based in New York, chair of the tax group Linda Swartz specializes in structuring complex cross-border M&A, spin-offs, and restructurings, financial products and SPACs. Jason Schwartz left the firm in February 2022.

      Practice head(s):

      Linda Swartz

      Testimonials

      ‘While small, CWT has several high performing partners who are expert in their space. I find them extremely strong for securitization, financial products and international tax.’

      Key clients

      Assured Guaranty Corp. and Assured Guaranty Municipal Corp.

      MBIA, Inc.

      Pershing Square Tontine Holdings

      Kingsland Holdings Limited

      Alternative Reference Rates Committee (“ARRC”)

      Forbes Global Holdings

      Deutsche Bank

      Hudson Executive Capital

      Investec

      Morgan Stanley

      Fintech Ecosystem Development Corp.

      Work highlights

      • Represented Assured Guaranty Corp. and Assured Guaranty Municipal Corp. in connection with the Commonwealth of Puerto Rico’s restructuring of approximately $73bn of outstanding bond debt.
      • Represented MBIA Insurance Corp. and MBIA Inc. in multiple capacities relating to two of three collateral loan obligation investment funds referred to collectively as the “Zohar Funds,” or, individually, as Zohar I and Zohar II.
      • Represented Kingsland Holdings in the Chapter 11 cases for Avianca Holdings.

      Finance > Restructuring (including bankruptcy): corporate Tier 6

      Cadwalader, Wickersham & Taft LLP is ‘well known for its expertise in bankruptcies and restructurings‘, often involving complex cross-border aspects and high profile representations. Ingrid Bagby in New York is noted for her representation of creditors, debtors and investors in both chapter 9 and chapter 11 cases. Another notable individual is New York's Michele Maman; she has vast experience in international insolvency proceedings. The practice is led by Gregory Petrick, who splits his time between both the New York office and the London office.

      Practice head(s):

      Gregory Petrick

      Other key lawyers:

      Ingrid Bagby; Michele Maman; Casey Servais; Tom Curtin

      Key clients

      Federal Reserve Bank of Boston

      MBIA, Inc.

      Assured Guaranty Corp. and Assured Guaranty Municipal Corp.

      Kingsland Holdings Limited

      Argonaut Insurance Company

      JPMorgan Chase Bank, N.A.

      J. Aron & Company LLC (Goldman Sachs)

      National Founders LP (Credigy)

      Work highlights

      • Advised the Federal Reserve Bank of Boston in the development, documentation and implementation of the $600bn Main Street Lending Program.
      • Advised MBIA Insurance Corp. and MBIA Inc. in multiple capacities relating to two of three collateral loan obligation investment funds referred to collectively as the “Zohar Funds,” or, individually, as Zohar I and Zohar II.

      Firm Overview: Established in New York in 1792, Cadwalader is a trusted advisor to many of the world’s leading financial institutions, corporations and investment funds, with more than 225 years of experience crafting innovative solutions for our clients’ most complex legal issues.

      Main areas of practice

      Capital Markets: The team is widely recognized as a premier global legal advisor in securitization and structured finance. It represents investment banks, issuers, funds and private equity sponsors in structuring and executing transactions across a broad array of structured products and asset classes, including ABS, CLOs, CMBS, CRE CLOs, RMBS, structured workout financings and whole loan sales.

      Corporate: Cadwalader represents companies, financial institutions, private equity firms and other investors across the full spectrum of complex negotiated and hostile corporate transactions, including mergers, acquisitions, joint ventures, divestitures and spinoffs, as well as public and private debt and equity securities offerings, both shareholder activism and takeover preparedness, and related corporate governance and securities law matters.

      Finance: Cadwalader advises financial institutions, private equity sponsors and corporate borrowers in a wide variety of financing transactions, including acquisition, leveraged and other syndicated financings; senior secured, second lien and mezzanine loans; asset-based lending transactions; commodities financings; the financing of financial assets; and rescue financing, workouts, debtor-in-possession financings and exit financings.

      Financial Restructuring: Cadwalader regularly advises agents, noteholders, official creditor committees, ad hoc creditor committees and various other creditor constituencies, as well as debtors, in bankruptcy and insolvency proceedings in the U.S. and abroad. It also counsels strategic investors and market participants on bankruptcy issues related to financings and acquisitions involving distressed entities.

      Financial Services: The firm advises clients on statutory and regulatory requirements, including those governing broker-dealers, securities and futures exchanges, banks, investment advisers and funds. It advises hedge funds and asset managers on structuring funds and raising capital. It also represents issuers, dealers and end-users on complex derivatives and structured products transactions.

      Fund Finance: The firm’s market-leading team represents financial institutions as lenders and lead agents on the full range of fund finance products, including subscription credit facilities, hybrid facilities, leverage facilities, management fee and GP lines of credit, equity commitment facilities and credit-enhanced corporate loans, for private equity funds sponsored by many of the world’s preeminent fund sponsors.

      Litigation: Cadwalader’s full-service, transatlantic litigation team handles all aspects of dispute resolution, including negotiation, mediation and arbitration. Its trial practice helps clients successfully navigate enterprise-threatening litigation with confidence. It protects and defend our clients in a broad range of strategic areas, including antitrust, corporate and financial services litigation and regulation, and intellectual property.

      Private Wealth: Cadwalader is a leading authority on international and domestic private wealth matters, with a long history of advising U.S. and multinational high net-worth individuals and families regarding tax efficient structures for their US and global holdings, with emphasis on governance, the minimization of taxation, the management of holdings, and their transfer to family members, entities, trusts and charities.

      Real Estate: Our premier real estate finance team represents financial institutions and investors in the origination of securitized and balance sheet mortgage and mezzanine loans, syndicated loans and construction loans secured by virtually all property types, including hotel, office, retail, healthcare, multi-family and industrial properties, ranging from single, trophy assets to multi-asset, multi-state and whole-company transactions, as well as the sale of mortgage and mezzanine loans in the secondary market, co-lender and intercreditor agreements, servicing and loan workouts, and restructurings.

      Tax: Cadwalader’s tax practice is notable for its sophistication and expertise in complex, tax-advantaged transaction structures that have been employed in the most complex public and private mergers and acquisitions, spin-offs, Reverse Morris Trusts (RMTs), divestitures, joint ventures, restructurings and foreign tax planning strategies. It is a leader in structuring sophisticated securitization vehicles and have had a primary role in virtually every type of mortgage-backed and asset-backed securitization in the market.

      White-Collar Defense and Investigations: The team has extensive experience in white-collar defense and investigations, cybersecurity and data protection, FCPA enforcement, pharmaceutical regulation, securities enforcement, and the full spectrum of related compliance issues.

      DepartmentNameEmailTelephone
      Capital Markets Michael Gambromichael.gambro@cwt.com+1 212 504 6825
      Capital Markets Stuart Goldsteinstuart.goldstein@cwt.com+1 704 348 5258
      Corporate William Millswilliam.mills@cwt.com+1 212 504 6436
      Corporate Richard Brandrichard.brand@cwt.com+1 212 504 5757
      Fund Finance Wesley Missonwesley.misson@cwt.com+1 704 348 5355
      Financial Restructuring Gregory Petrickgregory.petrick@cwt.com+1 212 504 6373
      Financial Services James Frazierjames.frazier@cwt.com+1 212 504 6963
      Financial Services Ivan Loncarivan.loncar@cwt.com+1 212 504 6339
      Litigation Jason Halperjason.halper@cwt.com+1 212 504 6300
      Litigation Nicholas Gravantenicholas.gravante@cwt.com+1 212 504 6500
      Private Wealth Dean Berrydean.berry@cwt.com+1 212 504 6944
      Real Estate Bonnie Neumanbonnie.neuman@cwt.com+1 212 504 5625
      Tax Linda Swartzlinda.swartz@cwt.com+1 212 504 6062
      White Collar Defense and Investigations Jodi Avergunjodi.avergun@cwt.com+1 202 862 2456
      Number of Partners : 113
      Number of Other Lawyers : 320
      Managing Partner : Patrick Quinn
      Other Offices : Charlotte, Washington, D.C. and London