Gary Silverstein represents issuers, underwriters, insurers and other parties in connection with the tax aspects of mortgage-backed and asset-backed securities, REMICs, CLOs, CRE-CLOs and other debt issuances. He has extensive experience in structuring commercial and residential mortgage-backed securitizations and resecuritizations (including “RE-REMICs”), and in other capital markets transactions (both agency and “private-label”). Gary advises borrowers and lenders (including securitization vehicles) in connection with loan workouts, foreclosures and restructurings. He is also involved in the re-performing and distressed asset markets and in the formation of lending facilities to finance MSRs, new and/or seasoned mortgage loans and other securities.
He also works closely with Cadwalader's finance attorneys in the origination of large commercial loans for securitization or syndication and in advising loan participants that face challenges in volatile markets. In addition, Gary advises both lenders and borrowers in their negotiations of credit facilities, credit agreements and repos, with extensive knowledge of “taxable mortgage pool” issues and solutions.
Gary is a member of the Tax Section of the New York State Bar Association, the American Bar Association (ABA) and the Tax Subcommittee of the American Securitization Forum. He is the co-author of a chapter on taxation in the Mortgage and Asset Backed Securities Litigation Handbook (West). He has been a speaker at the ABA's annual convention in Washington, D.C., to discuss the taxation of mortgage securitization. Gary was acknowledged by The Legal 500 in 2010 for “building an excellent reputation for his work in securitization,” and again in 2011 for his “complex and innovative instructions.” More recently, Gary was recognized in the 2016 edition of The Legal 500 for Financial Products Tax and recognized by the IFLR 1000 as a leading lawyer.
Gary graduated with a B.A., cum laude, in Economics from Yeshiva University, received his J.D. from Columbia University Law School, and earned his LL.M. degree in Taxation from New York University School of Law. He is admitted to practice in the State of New York.