In addition to "expertise in energy and commodity enforcement defense, regulatory work and compliance issues," the "team also possesses extensive expertise in structured finance and M&A matters, and has expert knowledge of energy derivatives". - Chambers USA 2011
Cadwalader's leading Energy & Commodities Group has wide-ranging and extensive experience in all forms of complex transactional, litigation and regulatory matters involving the energy and commodities industry. With attorneys located in New York, Washington, DC, London and Houston, we offer clients practical insights into the evolving regulatory, business, and legal issues affecting the global energy and commodities markets. Many of the leading lawyers who comprise the team were previously affiliated with the U.S. Commodity Futures Trading Commission, state public utility commissions, and commodity trading businesses, giving them unique insight into, and knowledge of, this increasingly competitive and regulated industry.
Commodity Trading and Structured Transactions: Cadwalader has a long-standing history of innovation and leadership in the derivatives and structured finance markets. The attorneys of the Energy & Commodities Group have continued and extended that tradition by leading a number of innovative structured energy and commodities transactions. We advise financial institutions, producers and purchasers of energy and other commodities on a range of techniques to mitigate commodity price risk, including:
- Long-Term Commodity and Derivative Hedges and Financing
- Long-Term Power Purchase, Tolling and Off-Take
- Energy Management and Asset Optimization Agreements
- Credit Support and Collateral Arrangements
- Distressed and Special Situation Energy Asset Trading
- Wholesale Power Auctions
- Commodity Repurchase Agreements
Mergers & Acquisitions: Our team has wide-ranging and extensive experience in all forms of complex transactional matters, including mergers and acquisitions, joint ventures, securities, private equity, debt finance, and restructuring. We represent buyers and sellers in acquisitions and sales of generation, production, storage, transportation, and distribution assets, and are highly skilled in assisting clients in structuring acquisitions and dispositions in compliance with the regulatory requirements of the FERC, CFTC, FTC, DOJ, and state utility commissions. We have a long history of representing many of the world's largest financial institutions in acquisitions and dispositions of energy and commodities trading businesses and transaction portfolios.
Project Development and Finance: We also have deep experience assisting clients in developing and financing power, gas, crude oil and refined products, and agricultural commodity production, transmission, transportation, and storage facilities. The Cadwalader team advises developers, sponsors, lenders and hedge providers with advice concerning all aspects of project development including structuring, tax, contracts, foreign investment, antitrust and competition, and corporate legal issues.
Regulation and Compliance
Cadwalader's market-leading attorneys provide energy and commodity clients with guidance on all manner of regulatory and compliance issues. Our lawyers understand regulatory risk in both developed and developing markets and have the deep experience and know-how to address relevant issues across agencies, industries, geographies and products.
We provide clients with FERC, CFTC, FTC, and DOJ regulatory compliance advice and training programs in all commodity sectors, including power, natural gas, metals, agriculture, crude oil and refined products, agriculture commodities, and various other markets. We also represent clients before state utility commissions and federal circuit courts of appeal and regularly counsel clients on challenges to agency proceedings, orders and rules.
Our team provides practical and interactive compliance training sessions based on a thorough understanding of trading operations, applicable law, and active participation in government investigations.
We have extensive experience advising clients in obtaining the regulatory approvals and performing the due diligence required in complex transactions, including securing the required FERC and FTC approvals related to the acquisition and disposition of public utility securities.
Investigations and Enforcement Defense
Cadwalader's enforcement defense team is experienced in the unique issues posed by inquiries and investigations by the U.S. CFTC, FERC, FTC and congressional committees, as well as foreign regulators. Our clients benefit from the knowledge and insight of our enforcement lawyers, many of whom were formerly with these and other government agencies.
We represent commodity traders, power marketers, and energy and agricultural companies in CFTC and FERC investigations involving physical commodities, over-the counter derivatives and regulated futures trading. We also defend clients in civil, criminal and administrative proceedings that involve allegations of manipulation, false reporting, wash trading and various other regulatory violations.
Teaming with Cadwalader's Business Fraud litigators, our Energy & Commodities team addresses civil and criminal matters involving bribery, securities, commodities and accounting fraud, antitrust and environmental enforcement, bank and tax fraud, government contracting, U.S. and international money laundering, asset forfeiture, and foreign bank secrecy and confidentiality laws.