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The foundation of Cadwalader's Financial Restructuring practice is a premier restructuring, bankruptcy, insolvency and workout group, distinguished by broad experience, the diverse nature of our clients, our significant global expertise and our leading attorneys. Our practitioners, many of whom are internationally recognized leaders in their field, bring clients the business acumen and in-depth legal knowledge necessary to successfully navigate complex restructurings and reorganizations.
With dedicated experience and professionals in both the United States and the United Kingdom, our attorneys are able to quickly respond to cross-border restructurings. In fact, we have been at the forefront of some of the most complex, recent international insolvencies, and routinely advise clients with interests in North America, Europe, Asia, Latin America, and Africa. By using a multidisciplinary approach, our clients benefit from Cadwalader's strong experience in debtor financial restructuring and bankruptcy, corporate transactions, finance, real estate, capital markets, litigation, and tax structuring.
Most recently, Cadwalader has been representing Lyondell Chemical Company as debtor's counsel, recently securing approval of a debtor-in-possession financing package that ranks among the largest and most complex DIP financings in history. In addition, Cadwalader is lead outside counsel to the United States Treasury Department Presidential Auto Task Force with respect to the restructuring of Chrysler LLC and General Motors Corporation and their related finance companies. Cadwalader has also been active in real estate workouts and restructurings in numerous real estate markets, including advising Barclay's Capital, the agent for the first lien facility and DIP financing in LandSource Communities Development LLC; several major investment banks with respect to their real estate investments in various residential property developments; and JPMorgan Chase Bank, as administrative agent in the Centro Properties restructuring. In addition, Cadwalader represented the senior mezzanine lender to Macklowe Properties Inc. in connection with a restructuring of mortgage indebtedness on four major New York City real estate properties. Cadwalader restructuring attorneys represented CIFG Holding, Ltd., a Bermuda domiciled monoline insurer, in reaching a settlement with its credit default swap counterparties and bondholders of ABS CDO exposure. The agreement successfully commuted approximately $12 billion in notional ABS CDO exposure.
Our clients include many of the largest financial institutions in the world, including commercial and investment banks, investment management firms, mutual funds, insurance companies, and pension funds. We also represent many Fortune 500 companies and other leading public and private corporations and business entities. Our practice includes the representation of companies, bondholders, creditors' committees, borrowers, asset purchasers, and other entities involved in financial restructuring transactions or reorganization cases.
On behalf of this diverse client base, we are involved in all facets of bankruptcy, complex reorganizations, insolvencies, restructurings, and workouts in a wide range of industries:
- aerospace and air transportation
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- financial products and services
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Our attorneys have broad experience and capabilities in both the transactional and litigation aspects of the practice and work closely with clients in developing bankruptcy-sensitive products and structuring corporate, commercial, and securities transactions to preserve and enhance value. The department's broad transactional experience ranges from negotiating company reorganizations and restructurings, sales of equity securities, new credit facilities, and the purchase or sale of going-concern businesses and assets. Our attorneys are adept at handling the intricacies involved with international chapter 11 bankruptcies and restructurings, chapter 15 (former Section 304) proceedings brought in the United States on behalf of foreign representatives, and related matters. The department also is involved in the acquisition, sale and financing of troubled companies, their business lines and assets. Through extensive experience in representing both debtors and creditors, our attorneys are able to readily assess the multiple perspectives underlying a complex restructuring. We take pride in our ability to quickly and efficiently negotiate solutions, redocument matters, resolve disputes, and respond to emergencies.
The group's partners are actively involved in teaching, lecturing and writing on a wide variety of topics relating to bankruptcy and restructuring. Many have authored internationally-recognized treatises, articles, and other materials relating to creditors' and debtors' rights, both within and outside of the United States.
The firm was most recently honored with two awards at the 2009 Turnaround Atlas Awards, with Department Co-Chair John Rapisardi being named Restructuring Legal Advisor of the Year and the firm's representation of JPMorgan Chase Bank in the Centro Properties Group restructuring being tapped as Out-of Court Restructuring of the Year. Cadwalader won 2009 IFLR Americas Awards for Restructuring Team of the Year and for Deal of the Year, as counsel on a matter for CIFG Holding, Ltd. In 2007, M&A Advisor named Cadwalader Law Firm of the Year: Reorganization and Bankruptcy Practice in recognition of the 65- lawyer team's record of achievements as well as Chapter 11 Reorganization of the Year and Consumer Products & Services Turnaround Deal of the Year for work as lead debtor's counsel on the Northwest Airlines Corporation chapter 11 proceedings.
As appropriate, the firm combines the talents of our financial restructuring attorneys with those of our corporate, litigation, project finance, real estate, and tax attorneys to staff major matters, to provide an interdisciplinary approach to problems, and to enhance results.
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