Cadwalader, Wickersham & Taft LLP‘s New York team has been involved in complex restructuring cases involving state and local governments, with the firm having had a major role in the municipal bankruptcies occurring in the US including Jefferson County and Detroit, alongside Puerto Rico. The firm is comprised of specialists in municipal credit and securitization, as well as distressed municipal credit risk. Lary Stromfeld has a reputation in complex transactions and is currently representing the Federal Reserve’s Alternative Reference Rates Committee in navigating the cash markets through LIBOR transition. ’Best in class‘ Ivan Loncar is focused on derivatives, structured finance and municipal finance, including distressed municipal finance. Ingrid Bagby represents a range of parties including creditors and debtors in chapter 9 and chapter 11 proceedings, while Casey Servais has worked on a number of municipal bankruptcy cases.
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Testimonials
Collated independently by Legal 500 research team.
‘Best in class.’
‘Ivan Loncar and team are best in class within a best in class firm.’
Key clients
- Assured Guaranty Corp. and Assured Guaranty Municipal Corp.
- Bank of America Merrill Lynch
- Federal Reserve Bank of Boston
- Goldman Sachs
- MBIA Inc.
- Morgan Stanley
Work highlights
- Representing bond insurers Assured Guaranty Corp. and Assured Guaranty Municipal Corp. (“Assured”) in connection with the Commonwealth of Puerto Rico’s restructuring of approximately $73 billion of bond debt.
- Represented the Federal Reserve Bank of Boston (the “FRBB”) in the development, documentation and implementation of the $600 billion Main Street Lending Program (“MSLP”), a key component of the Federal Reserve Board’s historic actions to provide up to $2.3 trillion in loans to support the U.S. economy in response to the COVID-19 pandemic.
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Practice head
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Ivan Loncar, Casey Servais