Cadwalader advised The Bank of Tokyo-Mitsubishi UFJ, Ltd., as administrative agent to a large group of international commodity finance banks, in the successful out-of-court workout of $2 billion of debt under the U.S. borrowing base credit facility of Noble Americas Corp. (“NAC”), the U.S. oil trading subsidiary of Hong Kong-based Noble Group Limited (“Noble”). The workout process included Noble’s sale of various NAC assets to a subsidiary of Mercuria Energy Group, Noble’s sale of NAC to a subsidiary of The Vitol Group and a full recovery for the lending syndicate.
The Cadwalader team was led by Finance partners Jeffrey Nagle and Christopher McDermott and included senior attorney Matthew Stempler and associates Evan Carter, Stephen Johnson and Ryan Leverone. The team also included Corporate partner Andrew Alin and associate Melissa Solomon, and Financial Restructuring partner Ingrid Bagby.
Richard Brand, Brian McGovern
Joseph Moreno, Anne Tompkins
Partner Chris Gavin will speak on a panel addressing "Securitization & Cash Execution."