Established 225 years ago, Cadwalader,
Wickersham & Taft LLP is the oldest Wall Street firm still in
existence. Known especially for its capital markets, bankruptcy,
and real estate expertise, the firm is a well-established presence
in the New York legal market and has expanded around the globe in
Cadwalader was founded in 1792, when folks
were still sealing letters with wax and writing with quills. But we
just might have Cadwalader to thank for all the bells and whistles
that constitute a modern law firm. In the late 19th century, the
firm introduced such new-fangled technology as typewriters and
telephones to its offices. Cadwalader was similarly revolutionary
in its approach to training and staffing: to replace the old system
of unpaid law clerkships, the firm established the role of the
The present-day Cadwalader forged a niche in
the early New York legal field by working on commercial claims,
litigation, maritime law, and real estate for banks, insurance
companies and members of New York society. The real catalyst for
the firm's growth and increased financial stability throughout the
20th century, however, came when former U.S. Assistant Secretary of
State John L. Cadwalader joined the firm in 1878, bringing big-time
corporate connections with him. The 1889 addition of name partner
Henry W. Taft-whose older brother would later succeed Teddy
Roosevelt in the White House-brought more political clout and
cemented the firm's status as a fixture in American law. In 1942,
the firm elevated a woman, Catherine Noyes Lee, to partner: the
first woman partner of a major Wall Street firm. Now, Cadwalader
runs offices in the United States and Europe with an eye that's
generally focused on corporate and financial work.
While respecting its remarkable history,
Cadwalader also tries to stay on the cutting edge and is committed
to new and innovative solutions. The firm is building a strong
corporate governance practice that advises participants in contests
for corporate control and includes the launch of the
Shareholder-Director Exchange (SDX) initiative to provide guidance
on the growing trend toward shareholder-director engagement and to
flag the key challenges and opportunities shaping the boardroom.
The firm's health care practice launched the Health Care Fraud
Focus blog, which offers insight on the latest developments in
False Claims Act (FCA) and other civil and criminal health care
fraud. The Cadwalader Cabinet, an award-winning, web-based
financial regulatory knowledge and intelligence platform, was
redesigned and expanded with three times more content, a new user
interface, dynamic search capabilities and powerful expert
systems,allowing financial service practitioners to perform legal,
compliance, and transactional tasks through an interactive online
solution. In addition to its online presence, the firm tries to set
itself apart from the competition by offering benefits such as
sabbaticals to attorneys after five years of practice.
¡Hola Puerto Rico!
Cadwalader is representing Assured
Guaranty in connection with Puerto Rico's restructuring of
approximately $73 billion of outstanding bond debt, the
largest-ever U.S. municipal debt restructuring and the first
bankruptcy of any U.S. territory. Assured is the largest creditor
of Puerto Rico.
Not So Taxing
The firm was named Foreign Tax
Planning Firm of the Year-USA as part of the 2017 Finance
Monthly Law Awards. The awards recognize and celebrate
excellence across the increasingly diverse and dynamic tax
industry, highlighting its impact and importance.
Cadwalader is ranked at the top of
all three-Global, US, and European-Creditflux CLO Arranger Counsel
tables for 2016. The firm is also ranked among the leading Manager
Counsel in all three geographic categories, reflecting its
market-leading transatlantic position.
A Dynastic Run
Cadwalader is again ranked as the
number one law firm advising issuers and underwriters on commercial
MBS offerings, topping the 2016 rankings released by Commercial
Mortgage Alert. The firm has now been ranked first in the issuer
counsel category for 17 consecutive years.
In his final full day in office,
President Barack Obama commuted the sentence of a client Cadwalader
represented pro bono. The representation was conducted under the
auspices of the Department of Justice Clemency Initiative.
The TOP for CLO
Cadwalader was recognized as the "Top
Underwriter Counsel for U.S. CLOs," topping the 2016 Asset-Backed
Alert rankings. The firm's capital markets lawyers closed 54 CLO
transactions as underwriter counsel, valued at $25.8 billion.