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

Cadwalader, Wickersham & Taft LLP > The Legal 500 Rankings

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.

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. Richard Schetman leads the team from New York; an expert on 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.

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.

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.    

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.

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.

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.      

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.