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Cadwalader, Wickersham & Taft LLP

New York

Cadwalader, Wickersham & Taft LLP - New York
  • One World Financial Center
  • New York
  • New York
  • USA
  • NY 10281
  • Chairman: W Christopher White
  • Deputy Chairman: James C Woolery
  • Number of partners: 104
  • Number of lawyers: 363
  • Additional US locations: Charlotte, NC; Washington, DC; Houston, TX
  • International: London, Brussels, Beijing and Hong Kong

Firm Overview:
Established in New York in 1792, Cadwalader is a leading global advisor to corporations and financial institutions, offering innovative solutions to complex legal issues.

Main Areas of Practice:
Antitrust:
Represents clients in merger, monopolization and price-fixing matters before the DOJ, FTC, state attorneys general, foreign antitrust authorities, trial and appellate courts in the US, and before European courts. Knowledgeable in merger review, including HSR, commercial arrangements, antitrust compliance programs, joint ventures, distribution arrangements, pricing policies, standard-setting organizations, trade associations, joint purchasing alliances, R&D collaborations and IP.
Contact: Charles (Rick) Rule
Tel: +1 202 862 2420
Email: rick.rule@cwt.com

Business Fraud:
Handles significant civil, criminal and administrative disputes, and enforcement actions in federal and state proceedings and litigation, as well as in congressional investigations and hearings for financial institutions, major corporations, their boards, audit committees, directors and officers. Advises on corporate compliance, governance, internal investigations, and audits of US and foreign operations.
Contact: Kenneth L Wainstein
Tel: +1 202 862 2474
Email: ken.wainstein@cwt.com

Capital Markets:
Experienced in traditional fixed income and equity capital markets, structured finance, synthetic products, hybrid products and derivatives. Develops new products and structures; devises cross-border structures and assist in managing risks caused by subperforming securitized loans and troubled financial products.
Contact: Michael S Gambro
Tel: +1 212 504 6825
Email: michael.gambro@cwt.com
Contact: Stuart N Goldstein
Tel: +1 704 348 5258
Email: stuart.goldstein@cwt.com

Corporate:
Advises on IPOs, exchange and secondary offerings, private placements, workouts, convertible debt and equity, hybrid securities and distressed M&A. Broad experience with mergers, acquisitions, recapitalizations, spin-offs, dispositions and governance matters. Counsels clients on LBO and structured equity, mezzanine, real estate, venture growth capital and funds’ investments. Addresses all areas of debt finance, including secured and unsecured commercial lending, mortgage banking and real estate investment, acquisitions, sales, exchanges, development and workouts.
Contact: Steven N Cohen
Tel: 212 504 6276
Email: steven.cohen@cwt.com
Contact: Christopher T Cox
Tel: 212 504 6888
Email: chris.cox@cwt.com
Contact: William P McInerney
Tel: 212 504 6118
Email: william.mcinerney@cwt.com
Contact: James C Woolery
Tel: 212 504 6200
Email: james.woolery@cwt.com

Energy & Commodities:
Experienced in complex transactional, litigation, regulatory and compliance matters. Counsel to financial institutions and investors; oil, power and gas companies, producers and developers; industrial and commercial customers; trade associations; hedge funds; commodity marketers; exchanges; and clearing organizations.
Contact: Paul J Pantano Jr
Tel: +1 202 862 2410
Email: paul.pantano@cwt.com

Financial Restructuring:
Represents debtors, secured and unsecured lenders, bondholders, creditors’ committees, borrowers, asset purchasers and other distressed entities. Broad capabilities in transactions and litigation, developing bankruptcy sensitive products, and structuring deals to preserve and enhance value.
Contact: Mark C Ellenberg
Tel: +1 202 862 2238
Email: mark.ellenberg@cwt.com
Contact: Gregory M Petrick
Tel: +44 20 7170 8688
Email: gregory.petrick@cwt.com

Financial Services:
Expertise in financial law related statutory and regulatory requirements, including those governing broker-dealers, securities and futures exchanges, banks, investment advisers and funds. Advises clients on OTC derivatives, structured products, hedge fund derivatives and hybrid transactions. Structures and develops investment products, funds and services for and with domestic and offshore hedge funds; funds of funds; commodity pools; acquisition, venture capital, real estate and structured product funds; and investment advisers and management firms. Counsels clients on issues affecting ERISA, executive compensation and benefits.
Contact: Steven D Lofchie
Tel: +1 212 504 6700
Email: steven.lofchie@cwt.com
Contact: Richard M Schetman
Tel: +1 212 504 6906
Email: richard.schetman@cwt.com

Health Care/Not-for-Profit:
Counsels on corporate governance, corporate finance, government regulation, Medicare/Medicaid, restructuring, labor relations, litigation, risk manage-ment, securities, capital markets and tax. Represents charitable and tax-exempt entities, including religious organizations, educational institutions, museums, social service agencies, foundations and trade associations.
Contact: Kathy Hirata Chin
Tel: +1 212 504 6542
Email: kathy.chin@cwt.com
Contact: Paul Mourning
Tel: +1 212 504 6216
Email: paul.mourning@cwt.com

Intellectual Property:
The IP team handles trials and litigation in complex patent and trade secret matters in federal courts, and in ITC and WIPO proceedings. The team also enforces and defends claims; provides expert opinions; secures rights; evaluates, sells, or licenses IP; and conducts due diligence.
Contact: Christopher Hughes
Tel: +1 212 504 6891
Email: christopher.hughes@cwt.com

Litigation:
Litigators handle disputes for financial institutions, major corporations, and their officers and directors in state and federal courts throughout the US and in the UK, as well as in proceedings before administrative and regulatory agencies and international tribunals. In addition to antitrust, business fraud and intellectual property, the practice focuses on commercial, complex financial products, insurance, international and securities disputes.
Contact: Gregory A Markel
Tel: +1 212 504 6112
Email: greg.markel@cwt.com
Contact: Louis M Solomon
Tel: +1 212 504 6600
Email: louis.solomon@cwt.com

Tax & Private Wealth:
The Tax Group pioneers innovative tax structures that drive complex deals and maintains a tax controversy practice for US and non-US corporations and financial institutions. The Private Wealth team provides personal, financial, charitable and tax planning for individuals and closely-held family companies.
Contact: Linda Z Swartz
Tel: +1 212 504 6062
Email: linda.swartz@cwt.com
Contact: Dean C Berry
Tel: +1 212 504 6944
Email: dean.berry@cwt.com

Branches

Antitrust - District of Columbia

What the team is known for Highly experienced antitrust group involved in a range of large-scale mergers, in addition to antitrust litigation and criminal matters. Serves an impressive clientele of blue-chip firms.

Work highlights Acted for US Airways in its major merger with American Airlines. The deal was cleared in December 2013, after a lawsuit brought by the DOJ was settled.

Represented Nestlé in a number of litigations alleging price-fixing in the chocolate industry.

Notable practitioners  

Rick Rule is an "absolutely top-class antitrust lawyer" who is seen on many of the most significant mergers and acquisitions in the country. This includes acting for US Airways in the investigation into its merger with American Airlines.

The "excellent" Jonathan Kanter frequently engages in major antitrust work for Microsoft, including work relating to its $7.2 billion acquisition of the devices and services arm of Nokia.

Significant clients Anheuser-Busch InBev, Bank of America, Eli Lilly, Monsanto, Yelp.

Bankruptcy/Restructuring - District of Columbia

What the team is known for Works nationally on cases mainly representing major secured and unsecured creditors. Also frequently sought after to handle large-scale debtor work.

Strengths (Quotes mainly from clients)
"They really have the right team: very good on strategic approaches to potential disputes and strategies in a bankruptcy, and very good at coming up with solutions. It's a really strong relationship - we think of them as a partner."

Work highlights Represented MBIA Insurance in the Chapter 11 proceedings of Residential Capital and its associates. The firm opposed an original Plan Support Agreement between the debtor and its parent company on the basis that its broad release settlement was too low, and saw a new plan confirmed with a far greater cash settlement to the benefit of its client. 

Acted for Vertis Holdings and its associates in its Chapter 11 proceedings that then transitioned into a Section 363 asset sale of the company. The firm secured approval for a DIP facility to finance the case and negotiated the stalking horse agreement that led to a successful sale of the assets to Quad/Graphics.

Notable practitioners  

Mark Ellenberg is cochair of the firm's restructuring practice and is noted for his "practical knowledge of the bankruptcy process." His practice involves work with both debtors and creditors and he helped lead the firm's recent case on behalf of MBIA Insurance, the largest creditor in the Chapter 11 proceedings of Residential Capital.

Significant clients Bank of America Merrill Lynch, The Renco Group, Lloyds TSB.

Capital Markets - Nationwide

What the team is known for Dominant force in the derivatives and structured finance market, with broad-ranging expertise on debt and credit products, equity derivatives and commodity products. Equally adept at both transactional and regulatory work and well versed in representing both buy and sell-side clients. Team routinely works in collaboration with industry groups and regulatory bodies.

Strengths (Quotes mainly from clients)
"The group is innovative and insightful - they can digest where you want to go, anticipate the issues and produce effective solutions which won't put you at legal risk."

"The firm as a whole has really deep bench strength. Cadwalader hires high-quality, high-caliber people."

Work highlights Represents the ISDA in ongoing regulatory developments, involving drafting of protocols and amendments in light of the Dodd-Frank Act.

Represents Merrill Lynch in connection to interest rate swaps stemming from the City of Detroit's municipal bankruptcy filing.

Notable practitioners  

Regulatory specialist Steven Lofchie offers dual expertise in derivatives transactions and financial services regulation, which he deploys to great effect in advising major financial institution clients. Sources praise his pragmatic approach, saying: "His comprehensive understanding of regulation and the practical nature of transactions means he can translate what might be opaque to some people and give it applicability in a real-life context."

Ray Shirazi is routinely called on to advise prominent investment banks and financial institutions on sophisticated transactions covering an impressive range of asset classes. Satisfied clients claim: "Ray excels at coming up with solutions. He is a problem-solver and an innovator."

Lary Stromfeld maintains a dynamic derivatives and structured finance practice. He played a leading role in handling interest rate swaps on behalf of Merrill Lynch in connection to the City of Detroit's filing for municipal bankruptcy.

Ivan Loncar is identified as a strong practitioner in the field of credit derivatives. Sources describe him as "smart, and knowledgeable about the markets."

Paul Pantano focuses his practice on derivatives regulation and enforcement stemming from energy transactions. Sources comment that he "has a nice, personal quality and is very knowledgeable."

Special counsel Brian Foster enters the rankings this year on the back of impressive market endorsement. He boasts a strong profile across a range of derivatives and structured finance matters and is particularly well known among high-profile fund clients. "Brian is an unbelievable negotiator - he has great attention to detail and is a very smart lawyer," according to commentators.

Jeffrey Robins receives recognition for his advice to major financial institutions on a variety of regulatory issues. He is heavily involved in providing advice and guidance to ISDA. Sources note that Robins is "able to marry a detailed understanding of the rules with an appreciation of business practice. He is very good at bringing out the implications of what rule changes mean in a quick way."

Douglas Donahue is well versed in both transactional and regulatory matters for a broad and diverse client base. He is notably involved in advising numerous financial institutions in their registration as swap dealers.

Significant clients BNP Paribas, Société Générale, Scotiabank, Credit Suisse, Deutsche Bank.

Capital Markets - Nationwide

Basic facts about the department
Key office is New York.

What the team is known for Maintains an excellent reputation for its expertise across a variety of asset classes including on ABS, CMBS and RMBS transactions. Widely recognized for its expertise in CLOs and CDOs.

Strengths (Quotes mainly from clients)
"They are very talented people who do an excellent job."  

Work highlights Represented Deutsche Bank Securities and others on the securitization of a $950 million mortgage loan secured by 1290 Avenue of the Americas, New York.

Represented JPMorgan Securities as issuer, loan seller and initial purchaser on a securitization of $500 million in mezzanine debt, part of a $3.6 billion refinancing for investors in the hotel chain Extended Stay America.

Notable practitioners  

Richard Schetman receives considerable praise from both peers and clients for his CLO and structured finance practice. Market observers comment: "He is focused on client outcome but remains personable and rational in the process of negotiating difficult points." 

Ray Shirazi is recommended by sources for his prowess on structured products transactions, and clients particularly appreciate his management skills: "He makes sure that whatever the topic we get to the appropriate specialist." His areas of expertise include hedge fund structured products.

Michael Gambro advised JPMorgan and RBC Capital Markets on a securitization for the purpose of purchasing Westin Hotels’ marquee properties in Canada. He is praised for his expertise on CMBS transactions.

Anna Glick is a highly respected securitization practitioner. She maintains a formidable reputation for her expertise in all areas of structured mortgage finance.  

Jordan Schwartz advised Merrill Lynch as arranger and Symphony CLO XI as issuer on a $827 million CLO transaction. He counts a number of insurance companies, investment and commercial banks among his clients.

Patrick Quinn is experienced in advising clients on CMBS and RMBS transactions. He cochairs the firm's capital markets department.

Ira Schacter is rated for his expertise on novel securitization transactions. His areas of expertise include whole-company, CDOs and insurance risk.

Stuart Goldstein is described by market sources as "highly commercial" and "creative in coming up with solutions." He represented Arbor Realty Trust on a $260 million CLO transaction.

Significant clients Barclays Bank, BNP Paribas, Deutsche Bank, Freddie Mac, Goldman Sachs.

Corporate/M&A - Nationwide

Basic facts about the department
Key office is New York.

What the team is known for Focuses on complex corporate transactions. Acts for public and private companies, financial advisers, special committees and boards of directors.

Work highlights Acted for Elan on the $3.25 billion sale to Biogen Idec of its 50% interest in the Tysabri product.

Advised Towers Watson in relation to the $250 million sale of the stock and assets of its reinsurance brokerage business to JLT Re (North America) and certain of its affiliates.

Notable practitioners 

Louis Bevilacqua is head of the M&A group and a key contact.

Significant clients JPMorgan, Nektar Therapeutics, Salix Pharmaceuticals, Scotts Miracle-Gro, CIT Group.

Energy & Natural Resources - Nationwide

Basic facts about the department
Key offices include New York, Houston and DC.

What the team is known for Excellent reputation for the strength of its commodities regulatory practice. Advises energy trading companies, financial institutions, energy companies and developers, in matters related to the DOE, FERC and the CFTC. Noted for its defense of regulatory enforcement actions.

Notable practitioners  

Paul Pantano has an energy and commodities practice focusing on representing clients in relation to FERC and CFTC matters. Sources note his abilities, with one saying that "he is very technically capable and he knows the CFTC area." Another source added that he is "one of the top enforcement lawyers; his really outstanding strength is on the commodities side."

Robert Stephens maintains a fine reputation for his transactional and finance work concerning the energy sector. Sources say: "He is very smart and extremely capable in complex transactions."

Kenneth Irvin is a well-regarded attorney with an energy and commodities regulatory practice. He represents natural gas and oil clients in relation to FERC and CFTC compliance and enforcement actions.  

Gregory Lawrence is a regulatory lawyer, noted for his presence in the power sector. He acts on matters such as regulatory compliance and enforcement actions, and represents clients before the FERC and state-level bodies. Sources say: "He is a zealous advocate for his clients and he works very hard at understanding our business so he can best represent us in the regulatory area."  

Financial Services Regulation - Nationwide

This firm is classed as a "Other Noted Firm".

Other Noted Firms are firms that are active in this practice area but have not yet been ranked.

Real Estate - Nationwide

Basic facts about the department
Key office is New York.

What the team is known for Impressive expertise in providing guidance to financial institutions in transactions involving real estate finance. Has substantial expertise in mortgage and mezzanine loans.

Strengths (Quotes mainly from clients)
"They know how to do real estate finance."

Notable practitioners  

Fredric Altschuler is admired by market sources who affirm that he is "extremely knowledgeable," "highly creative" and someone who "seeks to find solutions." He is renowned for his representation of clients in the acquisition and disposal, and financing and mortgage securitization, of commercial real estate.

William McInerney advises institutions and investors on a broad range of secured financing matters. He is particularly highly rated for his expertise in selling performing and nonperforming mortgage debt onto the secondary market.

Tax - Nationwide

Basic facts about the department
Key office is New York.

What the team is known for Provides tax support in connection with mergers and acquisitions, spin-offs, financings, bankruptcies and other complex and cross-border transactions. Also handles ongoing strategy and compliance advice.

Strengths (Quotes mainly from clients)
"They do cutting-edge financial product work and have good technicians in the area."

"Very plugged in and attuned to what is going on in the tax world."

Notable practitioners

New York-based Linda Swartz leads the firm's tax group. 

Significant clients Procter & Gamble, Pfizer, Bank of America, Barclays, AngioDynamics, JPMorgan.

Corporate/M&A - New York

What the team is known for Handles a wide range of corporate and M&A matters for clients including public companies, financial advisers, special committees and boards of directors.

What's new? James Woolery joins Cadwalader from his position as co-head of US M&A at JPMorgan.

Work highlights Acted for JPMorgan Securities as financial adviser to the special committee of the board of directors of Dell, in relation to the company's acquisition by Silver Lake and Michael Dell.

Advised Elan on a hostile takeover bid by Royalty Pharma.

Notable practitioners  

Louis Bevilacqua is head of the M&A group and a key contact.

Significant clients Towers Watson, Air Products & Chemicals, AngioDynamics, Barclays, Salix Pharmaceuticals.

Employee Benefits & Executive Compensation - New York

What the team is known for Admired for skill in providing ERISA counsel and for its broad practice extending beyond general corporate service. Has significant experience in advising clients in the investment and financial services industries. Adept in executive compensation and nonqualified plan arrangements.

Strengths (Quotes mainly from clients)
"A really good firm in the ERISA area, really strong on that. They're in the top handful of firms, really well respected."

"Cadwalader is a firm that I call for a second opinion or idea bouncing. I have a really healthy respect for them." 

Work highlights Continues to support the International Swaps and Derivatives Association (ISDA) in amendments to existing master agreements governing swaps, in order to ensure compliance with Dodd-Frank requirements.

Notable practitioners  

The "terrific" Bronislaw Grala is "widely regarded as one of the outstanding fiduciary practitioners." He is an expert in ERISA matters and has impressed clients with his ability to "come up with stuff we can't even dream up, which is great!" He is praised for his communication skills, with one observer noting: "His delivery is so good, he can really go back to the basics and make sure everyone understands." 

James Frazier is described as "a good technical lawyer who is very plugged-in to the industry" and is considered by sources to be "helpful in complicated projects." He has assisted the ISDA with Dodd-Frank Act compliance requirements.

Significant clients BlackRock, Wells Fargo, The Salvation Army, Gresham Investment Management, PNC Financial Services Group.

Healthcare - New York

What the team is known for Long-standing expertise across a broad range of transactional and regulatory matters, with increasing activity in areas such as healthcare real estate financing. Houses a strong bench of dedicated practitioners, whose expertise regularly attracts clients such as nursing homes, home care providers and managed care plans.

Strengths (Quotes mainly from clients)
"Very good, responsive and thorough."
 

Work highlights Acted for Field Home-Holy Comforter in the formation and creation of a senior residential community.

Advised Amsterdam Nursing Home on the drafting and negotiating of its accountable care and managed care provider contracts.

Notable practitioners  

Brian McGovern is held in high esteem by clients for his skills as a "good negotiator." He primarily acts for healthcare providers, and offers advice on matters such as government investigations, regulatory compliance and reimbursement issues.

Paul Mourning is particularly noted for his experience with nonprofit organizations, and regularly handles matters such as financing, joint ventures and restructuring for entities such as hospitals and religious institutions.

Significant clients CenterLight Health System, Metropolitan Jewish Health System, Visiting Nurse Service, The Salvation Army, Amsterdam Continuing Care Health System.

Intellectual Property - New York

What the team is known for Well-rounded IP group, offering advice and counsel on litigation, prosecution, portfolio management and corporate deals and joint ventures involving IP assets. Also well placed to assist clients with post-grant reviews. 

Strengths (Quotes mainly from clients)
"They are prompt, attentive, very efficient and pay attention to detail."

Work highlights Representing AT&T in a patent infringement action brought by Adaptix regarding 4G wireless networks. Cadwalader successfully argued for the transfer of the case from the Eastern District of Texas to the Northern District of California.

Defending AngioDynamics in a suit filed by medical devices manufacturer Bard relating to three patents. Cadwalader filed successful inter partes reexamination requests at the USPTO for the patents, obtaining stay of the litigation pending the outcome of the reexaminations.

Notable practitioners  

Christopher Hughes is best known as a patent litigator, although he advises clients on a wide range of issues including patent strategy. Clients and peers attest to the quality of his representations.

Significant clients AT&T, Hoffmann-La Roche, IBM, MIT, Merck.

Litigation - New York

What the team is known for Respected complex commercial litigation practice with expertise across a broad range of work including IP, financial services, healthcare and insurance disputes. Strong securities litigation team with experience in handling significant disputes for an impressive client portfolio.

Strengths (Quotes mainly from clients)
"They've got strong derivatives lawyers and a very strong bankruptcy practice, and their litigation of these types of commercial disputes works very nicely because they really have the right team. Very good on strategic approaches to potential disputes and very good at coming up with solutions."

"They have unique expertise in connection with some of the really complex structured financial products in the wake of the financial crisis."

"A very deep team. They had good legal strategy that was aligned with our business strategy."

Work highlights Represented the Renco Group in connection with a claim alleging breach of contract and breach of fiduciary duty involving a joint venture agreement with defendant company MacAndrews AMG Holdings.

Acted on behalf of MBIA Insurance asserting fraud and breach of contract claims against Residential Funding in connection with multiple residential mortgage securitizations sponsored by the defendant.

Notable practitioners  

Gregory Markel has a national reputation for his securities litigation practice. His recent work includes representing Bank of America in multiple lawsuits arising out of securitization transactions.

Jonathan Hoff has significant experience in handling complex securities actions. His recent highlights include a high-value litigation for MBIA Insurance. Clients note that "he's remarkably bright, insightful and committed."

Jason Halper has a broad practice, representing clients such as financial services, pharmaceuticals and manufacturing organizations. He is noted for his expertise in derivatives litigation.

Louis Solomon heads the commercial litigation practice at the firm and is characterized as "thoughtful, intelligent and hard-working." His work highlights include continued representation of AriZona Iced Tea in a complex commercial dispute. He attracts praise from clients, with one noting: "He did a good job in understanding our business objective."

"Very pragmatic" and "extremely commercial," Howard Hawkins impresses clients with his analytical ability. He is noted for his securities litigation strength, with one source stating: "He understands complex structured products and has a unique ability to characterize them and convey legal terms in a courtroom very well for others to understand."

Significant clients AK Steel, Credit Suisse, Aladdin Capital, PepsiCo, Morgan Stanley.

Real Estate - New York

What the team is known for Maintains a strong profile for its advice to clients on a range of real estate finance matters. Handles complex transactions on behalf of major banking clients.

Strengths (Quotes mainly from clients)
"It is an excellent finance practice."  

"A very good lending shop." 

Notable practitioners  

William McInerney receives strong market endorsement for his expertise in advising clients on a range of real estate finance transactions. He cochairs the firm's corporate finance practice.

The "fantastic" Fredric Altschuler is involved in the representation of institutional lenders, investment banks and other market participants on an array of real estate transactions. "He is a great financing lawyer," say sources.

Christopher White represents clients on debt and equity transactions related to commercial real estate. He is chairman of the firm and cochair of the corporate department.

Tax - New York

What the team is known for Renowned for its expertise in REITs and M&A and the taxation issues that arise within those areas. Demonstrates additional expertise in private equity fund formation, hedge funds, partnerships and transfer taxation.

Strengths (Quotes mainly from clients)
"Their work is consistently superior, and delivered on time. They are precise, succinct and proactive."

"Their partner involvement is very good, and there is always somebody available for you on the phone."

Notable practitioners  

David Miller handles tax work in relation to domestic and international M&A, financings, funds and bankruptcies. "He is very smart, very quick on his feet, and offers a lot of knowledge in a lot of different areas," say sources.

Linda Swartz is chair of the firm's tax department and an expert on domestic and international joint ventures, M&A, spin-offs and restructurings. According to clients, "she is very responsive and plugged-in to what is happening in the market."

Real Estate - North Carolina

What the team is known for Attracts substantial market attention for the quality of its real estate finance practice. Its areas of strength include syndicated loans, REIT financing and securitization.

Strengths (Quotes mainly from clients)
"They are a securitization machine, and very good at it."

Notable practitioners

James Carroll serves as managing partner of the Charlotte office, dividing his time between North Carolina and Washington, DC. He is an experienced real estate attorney dedicated to handling a range of financing matters for diverse clients. Sources note that he is "both very professional and very experienced, and is at the cutting edge of the securitization world."