Jun 21, 2010
GM, Chrysler, Landsource, CIT and Delphi Restructurings Take Top Honors
Numerous transactions on which Cadwalader, Wickersham & Taft LLP, one of the world’s most prominent law firms, had a prominent advisory role were named to the Winner’s Circle at the June 17 Global M&A Network Turnaround Atlas Awards in Chicago. Among the deal wins on which the firm worked were the General Motors restructuring, which was named Chapter 11 Reorganization of the Year ($5 billion plus), and the reorganization and sale of Chrysler to Fiat S.p.A., which took the Special Situation M&A Deal of the Year ($500 million plus). Cadwalader attorneys, led by Financial Restructuring Department Co-Chair John Rapisardi, represented the U.S. Department of Treasury and Presidential Auto Task Force in these historic matters.
Also winning was the Landsource Communities Development LLC transaction, which was named Chapter 11 Reorganization of the Year ($1 billion plus), in which the firm represented Barclays Capital, as Agent, under the First Lien Credit Agreement to Landsource; the pre-packaged Chapter 11 Reorganization of the Year ($1 billion plus) of CIT Group; and the Delphi Corporate Turnaround Deal of the Year ($5 billion plus). Cadwalader, led again by John Rapisardi, advised the U.S. Government on CIT and Delphi.
“Our team of talented and dedicated lawyers played an important role in helping to restructure the American automotive industry and preserve thousands of jobs. We are privileged to have been chosen by our clients to work on all of these historic matters and proud of our cross-disciplinary teams and their creative collaboration in these very challenging assignments,” said Christopher White, Chairman of Cadwalader.
Turnaround Atlas Awards is part of the M&A Atlas Awards, which annually recognizes outstanding performances for executing transactions, implementing turnaround strategies and financial work-outs.
Scott Cammarn, Mark Chorazak
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