Milbank > Washington DC, United States > Firm Profile

Milbank > The Legal 500 Rankings

Energy > Renewable/alternative power Tier 1

A heavyweight in cross-border project financing, Milbank is the firm of choice for a host of clients in the renewable energy arena, from new developers to some of the largest sponsors in the industry, as well as both debt and equity investors. The team is proficient across financing, development, acquisition and disposition of renewable energy projects, and its slate of work covers regulatory and permitting matters, power purchase agreements, energy hedge agreements, construction contracts, and operations and maintenance agreements. From the firm’s New York office, Daniel Michalchuk and Daniel Bartfeld co-lead the department. Bartfeld is noted for his expertise in transactions and the representation of US, Asian and European-based lenders and investors, while Michalchuk is a renowned figure in financing renewable energy projects. William Bice is a further experienced figure at the New York office, while in Los Angeles, Henry Scott is a specialist in representing debt and equity financing parties in North American renewable energy transactions. Timothy Wendling acts in wind, solar and geothermal electricity generation projects.

Finance > Commercial lending Tier 1

Milbank‘s global leveraged finance group demonstrates its versatility through its ability to handle syndicated and direct lending options, loan and bond, preferred equity and other capital structures. With a strong lender-side practice, the team is well equipped to handle LBO financings, refinancings, dividend recapitalizations and repricing for credit facilities. The New York-based team is led by Marcus Dougherty  who draws on significant experience representing banks, direct lenders and leading financial institutions in acquisition financings. Lauren Hanrahan is highlighted as a key member of the team and has ample experience handling complex lending transactions such as, recapitalizations, mezzanine financings, exit facilities and special situation financings. Charles Stern is a further name to note and is well versed at representing investment banks, such as Goldman Sachs, Barclays, HSBC and MUFG. Meir Hornung and Christopher Kwan were promoted to partnership as of January 2023.  

Finance > Project finance

Milbank is well positioned to act on a host of domestic and international project financings, representing high-end banks, financial services providers, and financial sponsors on both early stage and operational assets. Infrastructure mandates form a substantial section of the firm’s workload, with impressive activity in the aviation and shipping sectors demonstrated over the past twelve months, but the team’s primary efforts focus on power and energy projects, where the group represent government lenders, debt and equity investors, and developers on both traditional and energy transition ventures. Exemplifying this in particular is practice head Daniel Bartfeld, whose expertise straddles oil and gas, digital infrastructure, transport and logistics, and renewables, which is similar to co-head Daniel Michalchuk who also frequently engaged on both energy and infrastructure mandates. The highly experienced William Bice is able to provide project finance, acquisition finance, M&A and development expertise and is therefore retained by clients throughout the entire project lifecycle, while Jeffrey Leider lends project finance and structured finance acumen to marquee lenders and sponsors, with notable activity in conventional power projects.  Javad Asghari is principally focused on the firm’s energy offering, possessing a cross-border practice that particularly covers the Americas and Australia and routinely sees his advise on utility-scale renewable projects – amongst others. Sean O’Neill, who was promoted to partner in 2023, has been active on aviation-related financings and investments over the past year, whereas Kyle Smit has been engaged with natural-gas projects. All individuals are based in New York except Javad, who operates out of Los Angeles.  

Finance > Restructuring (including bankruptcy): corporate Tier 1

Headed by Dennis Dunne, Evan Fleck and Samuel Khalil, Milbank’s financial restructuring group is skilled in handling Chapter 11 cases and corporate restructurings across a wide variety of industries internationally and domestically. The team represents clients including companies in need of financial restructuring, official and ad hoc communities of creditors, hedge funds and lenders. The practice includes specialists from the firm’s Los Angeles, New York and Washington DC offices, including partners Matthew Brod and Atara Miller who were involved in serving as counsel to the Official Committee of Unsecured Creditors in the Chapter 11 cases of Talen Energy Supply and its affiliated debtors and debtors-in-possession. Nelly Almeida represents a range of different parties in both in- and out- of court domestic and international restructurings and distressed financings and acquisitions, whereas Michael Price has experience representing debtors, ad hoc committees and official committees of unsecured creditors. Tyson Lomazow is a key name. All lawyers mentioned are based in New York.

Media, technology and telecoms > Telecoms and broadcast: transactions Tier 1

Milbank‘s multi-disciplinary TMT team remains at the forefront of the telecoms finance and the space and satellite industries. As well as expertise in digital infrastructure, the team fields a strong connectivity practice, advising developers and sponsors of telecoms networks, from terrestrial to satellite. Advising an extensive roster of clients across the full lifecycle of projects, the team handles financings, the purchase and sale of telecoms infrastructure and project development, alongside procurement agreements, capacity contracts, spectrum leasing and securitization, and tower leasing arrangements. Dara Panahy heads the firm’s Washington DC-based transportation and space group, with a diverse clientele of satellite and space infrastructure operators, aerospace manufacturers, and communications, earth observation and data companies, as well as service providers and investors in the sector. Practice co-head Patrick Campbell has extensive experience in contract negotiation regarding the construction of undersea and underground fiber optic telecoms systems, the procurement of satellite systems and the leasing of satellite capacity. Bijan Ganji is well-versed in the aerospace and communications industries, as well as bringing in-depth knowledge of national security to the team. From New York, Daniel Bartfeld heads the firm’s global project, energy and infrastructure finance team, while Jaime Ramirez and Roland Estevez focus on connectivity infrastructure.

Transport > Aviation and air travel: finance Tier 1

Recent highlights for Milbank‘s aviation team include advising on complex acquisition and warehouse financings, secured portfolio financings, asset-backed securities (ABS), enhanced equipment trust certificates (EETCs), and  loyalty program financings. Other areas of expertise range from private placements, structured finance, Aircraft Finance Insurance Consortium financings and Export Credit Agency-related work, to aviation-related M&A, IPOs, joint ventures, and aircraft portfolio acquisitions and disposals. The New York-based practice is co-led by Drew Fine, who has substantial experience in EETCs, financings, ABS, restructurings, and aviation M&A; and Alexandra Johnson, who regularly represents underwriters, lenders, issuers, borrowers, lessors, credit insurers and other equity and debt investors on high-end aviation financings. Fine and Johnson recently acted for the lenders in Griffin Global Asset Management’s and Palisade Aviation Holdings Warehouse’s upsize of their senior secured warehouse facility to $2bn. Johnson also led advice to the lenders and lead arranger on a $400m  term loan to BG Beta I for the purchase of seventeen Rolls Royce engines. Providing key support, Jim Pascale represents banks, leasing companies, airlines, lenders, equity participants and hedge funds on a range of aviation deals; and Freyda Mechlowicz routinely advises on large financing facilities for aircraft leasing companies and financial institutions.

Dispute resolution > Securities litigation: defense Tier 2

Milbank‘s New York office is home to some of the most experienced securities litigators in the market, including the vastly experienced Sean Murphy, a specialist in private securities cases. Global head of litigation and arbitration George Canellos and practice group leader Alexander Lees oversee the securities litigation group, which has been involved in key areas of the market, notably SPAC-related cases. One example is the work of firm chair Scott Edelman and emerging partner talent Jed Schwartz for virtual behavioral healthcare company Talkspace in a case concerning its de-SPAC transaction. David Gelfand and Robert Hora also play key roles in the practice, and they continue to act for Rabobank in class action litigation. Edelman and key partner Grant Mainland are handling a high-profile case for former Goldman Sachs president Gary Cohn in a complex matter concerning the issuance of bonds by Malaysian sovereign wealth fund 1MDB.

Finance > Capital markets: global offerings

Milbank has a major presence in global offerings, particularly those that originate from Latin America. It remains noted for investment grade and high-yield debt, along with project bonds, liability management transactions and equity offerings. The firm is close to major banks and Latin American issuers with much of its recent practice focusing on managers, underwriters and initial purchasers. Energy, oil and gas, infrastructure, financial services and aviation are key sectors for the capital markets group. Marcelo Mottesi is chairman of the corporate finance and securities group, while also co-heading the Latin America team. Carlos Albarracin is another key partner on Latin America capital markets offerings. Both are based in New York.

Finance > Structured finance: securitization Tier 2

Milbank’s practice stands out for experience in CLO and securitization matters, with CLO work includeing supporting alternative asset managers in novel CLO types. The firm is also well-practiced in securitizations backed by a range of asset classes, including esoterics; the firm advises on whole business, digital infrastructure and real estate securitizations. The firm expanded its practice with the addition of Kathryn Weiss and Martin Eid from King & Spalding LLP in April 2023 and Lawrence Wee from Paul, Weiss, Rifkind, Wharton & Garrison LLP in May 2023.  Sean Solis leads the team, and concentrates on CLO matters and complex financings for asset managers, arrangers and issuers. Weiss further supports the firm’s esoteric securitizations expertise, advising underwriters and issuers in such matters. All lawyers are based in New York. Michael Urschel left the firm in June 2024.

Real estate > Real estate finance Tier 2

Real estate finance expert Erwin Dweck leads the New York-based real estate practice at Milbank. Dweck has a long history in commercial real estate and is sought out by financial institutions, private equity and hedge funds, and investment managers. His work includes real estate acquisitions, financings, preferred equity, joint ventures, and advising clients on distress in the office sector. High profile UCC foreclosures and distressed debt workouts are where the team excels, assisting with securitization trusts and tranches. The firm works across a number of sectors but stands out for its expertise in office spaces. Kevin O’Shea is the go-to for mezzanine loan foreclosures, while Yaakov Sheinfeld represents both lenders and borrowers from institutional capital sources in real estate investments, dispositions, and foreclosures. Jonathan Karl also focuses on bridge and mezzanine financing.

Dispute resolution > Corporate investigations and white-collar criminal defense

Milbank frequently represents clients in proceedings brought by the regulatory authorities such as the SEC, DOJ, and CFTC. The practice advises on the full breadth of white-collar matters, including market manipulation, sanction violations, money laundering, and accounting fraud. George Canellos is a highly capable litigator who regularly represents broker-dealers, mutual fund companies, and investment advisory firms. James Cavoli and Matt Laroche are also notable members of the team. Cavoli is skilled at conducting internal investigations, while Laroche has in-depth experience navigating high-stakes investigations on behalf of major companies and financial institutions. Having joined from Cahill Gordon & Reindel LLP in August 2023, Nola Heller brings her expertise of securities laws to the team. All lawyers mentioned are based in New York.

Dispute resolution > General commercial disputes Tier 3

The ‘brilliant team’ of litigators at Milbank has a strong track record of representing financial institutions at trial for matters including breach of contract, breach of fiduciary duty, tortious interference and statutory violations, among many others. Alexander Lees and George Canellos jointly chair the department. Experienced trial lawyer Scott Edelman is recognized for his securities, commercial, and white-collar expertise, while Stacey Rappaport is known in the marketplace for her expertise in complex financial services cases as well as for her ability to handle class actions. All attorneys referenced are based in New York.

Energy > Energy transactions: electric power Tier 3

Combining financing and transactional capabilities for a range of multinational commercial banks, investment banks, and US power and energy infrastructure asset managers and companies, Milbank is equally comfortable acting as lenders' and borrowers' counsel on mandates pertaining to critical projects and developments across the nation. Daniel Bartfeld and Daniel Michalchuk co-lead the practice, with the former leading the firm’s most significant M&A and acquisition financing mandates, and the latter possessing a broad understanding of energy assets, from conventional power to renewables and minerals. William Bice is another name to note for the practice’s acquisition financing expertise, while Richard Hillman primarily focuses on project and structured financing transactions. Jeffrey Leider regularly advises energy and infrastructure investment firms and developers. All practitioners operate out of New York.  

Finance > Capital markets: debt offerings

Milbank has a particularly impressive standing in high-yield debt, though also has a wide-ranging practice across the DCM space, including ESG-relating financings and green bonds. Technology, media, telecoms, aviation and energy are amongst its primary sectors. Marcelo Mottesi is chairman of the corporate finance and securities group and is co-head of the Latin America practice. Rod Miller is noted for equity and debt offerings, including those linked to M&A financings. Jonathan Jackson is group leader of the corporate finance and securities team, specializing in high-yield debt, convertible debt and secutizations. Brett Nadritch and Paul Denaro are also key partners. All named partners are based in New York.

Finance > Capital markets: high-yield debt offerings

Milbank‘s high-yield debt practice centres on the TMT sector, along with aviation and energy. It has expanded its presence in technology and has a fine record in M&A financings involving high-yield offerings. The firm has strong links to both issuers and underwriters. Rod Miller has extensive experience in the high-yield field, for both underwriters and issuers. Paul Denaro and Brett Nadritch are also key figures in this area, along with the up and coming Jonathan Jackson, who leads the corporate finance and securities group. All are based in New York.

Antitrust > Merger control Tier 4

Fielding a team of ‘top-notch antitrust partners’, the ‘thriving’ practice at Milbank is active on domestic and cross-border deals across a range of industries and possesses the ability to handle HSR filings alongside agency investigations and challenges. The practice is steered by the ‘highly effective’ Fiona Schaeffer in the New York office, who is noted for her expertise across the full spectrum of antitrust issues, ranging from criminal investigations and civil litigation to M&A and joint ventures. Washington DC-based Adam Di Vincenzo focuses on representing clients in government reviews of mergers, antitrust investigations, and litigation. The team has been bolstered with the arrival of ‘fantastic litigator’ Richard Parker from Gibson, Dunn & Crutcher LLP, adding significant experience in contentious regulatory investigations and enforcement actions relating to mergers to the team. Additionally, Grant Bermann joined from the DOJ, further deepening the team’s agency experience.

Energy > Energy transactions: oil and gas Tier 4

Alongside its specialism in equity investments in pipelines, terminals and refineries, Milbank also has considerable expertise in advising on complex M&A, project development, and financing projects. Daniel Bartfeld and Daniel Michalchuk jointly lead the firm’s global project, energy and infrastructure finance practice from New York, routinely assisting a range of financial institutions, investment firms and multinational companies with a number of oil and gas transactions, including LNG projects, transportation infrastructure and energy-related projects in the US, and throughout Latin America.

Finance > Capital markets: equity offerings

Milbank has a strong record in capital markets,  frequently advising issuers and underwriters on equity offerings, including follow-on offerings, private placements, equity investments, exchange offers and at-the-market transactions. New York partner Jonathan Jackson leads the corporate finance and securities group and is an active adviser on equity transactions.

Tax > US taxes: non-contentious Tier 4

Milbank collaborates closely with the firm’s M&A, private equity, restructuring, and securitization practices to advise on acquisitions, spin-offs, and other transactions, with strength in the public utility, telecoms, and transport sectors. The group is also well known for its work in the private equity and aircraft leasing spaces. Practice head Eschi Rahimi-Laridjani focuses on the tax aspects of structured finance and asset securitization transactions, among other matters. Having joined the firm from Dechert LLP in July 2023, Edward Lemanowicz brings notable experience advising private equity sponsors and their portfolio companies. Russell Kestenbaum represents clients in a broad range of sectors, including entertainment, alternative investment, and financial services, as well as creditors’ committees during bankruptcy proceedings. Max Goodman specializes in the formation of joint ventures and partnerships, including in the real estate space.

Intellectual property > Patents: litigation (full coverage) Tier 5

Milbank‘s intellectual property group represents both plaintiffs and defendants in patent infringement disputes relating to a broad range of technologies, including electronic, pharma, biotech and consumer products. Leading the practice, Christopher Gaspar in New York represents a broad range of tech companies in all key IP litigation venues and also advises clients on IP issues arising in M&A, financing, and financial restructuring transactions. Also in New York, Nathaniel Browand focuses on IP law with a particular emphasis on litigation, transactional work and counselling.

M&A/corporate and commercial > M&A: large deals ($1bn+) Tier 5

Representing domestic and global companies within the infrastructure, energy, and tech fields, the Milbank practice is highly regarded for its ability to handle multi-jurisdictional M&A, definitive agreements, and corporate restructurings. The team is led by the New York-based trio of Dean Sattler, John Franchini, and Richard Presutti, who are noted for their ability to represent buyout groups, investors, and boards of directors in recapitalizations and strategic joint ventures. Aaron Stine focuses on M&A in the healthcare, telecoms, and real estate industries, while Jennifer Lang, Bianca Prikazsky, and Ross Shepard are further key contacts who routinely advise on a wide range of transactional and corporate governance matters. The whole team is New York-based.

Antitrust > Cartel

Dispute resolution > International arbitration

Antitrust > Civil litigation/class actions: defense

Environment > Environment: transactional