Our extensive experience in the origination, sale and purchase of mezzanine loan financings, in many cases with numerous tranches of mezzanine loans and complicated intercreditor arrangements amongthe mortgage lender and various mezzanine lenders, means that we are uniquely qualified to analyze and evaluate the rights and remedies, and related risks, facing mezzanine lenders. Cadwalader has been at the forefront of revising and redefining these intercreditor arrangements as various new transactions have come to market. Our attorneys regularly represent investment funds and financial institutions in the workout and enforcement of troubled mezzanine loans.

Experience

• An investment fund in the workout and restructuring (and sale in certain instances) of numerous mezzanine loans and B participation interests of various levels of seniority with respect to single- and multiple-property transactions in securitized and non-securitized formats.
• The first mezzanine lender in connection with the workout of an approximately $800 million loan to a Harry Macklowe entity relating to the Macklowe EOP acquisition.
• A major financial institution in the complex workout of the mezzanine debt on a Florida hotel.
• A major financial institution in an extended workout of the mezzanine debt on a hotel project in Chicago, including the transfer of the business licenses held by the fee owner, forming the entity to hold the hotel property on behalf of the securitization trust, and coordinate with a Chicago-based firm regarding litigation of the title-insurance policy as well as the negotiation of the owner's title insurance policy for after the transfer of the fee interest.
• A major investment bank in a $110 million restructuring of a senior/subordinate structure mezzanine loan with respect to eight Ian Schrager hotels.
• A mezzanine lender in the restructuring and refinancing of a mezzanine loan in conjunction with the purchase of the mortgage loan from a securitization and refinancing thereof and refinancing of multiple other layers of mezzanine debt, all with respect to a large condominium conversion loan.
• The mortgage and mezzanine borrowers in connection with a mortgage and mezzanine financing to facilitate the acquisition of more than 30 acres of land and six hotels and casinos in downtown Las Vegas, and in connection with the subsequent alleged default and attempted foreclosure of the mezzanine loan and negotiated settlement involving the purchase of the mezzanine loan.
• A wholly-owned subsidiary of a British developer as mezzanine lender, in connection with the bankruptcy of the mezzanine borrower and mezzanine lender's foreclosure of a mezzanine loan secured by a pledge of the equity interest in a limited liability company that owned an office building in downtown Chicago.
• A wholly-owned subsidiary of a British developer as mezzanine lender, in connection with a mezzanine loan on the Tides Hotel in Miami, Florida, which subsequently went into default and was ultimately purchased by the owner of the property.
• The Japanese branch of a major U.S. financial institution in the proposed foreclosure of shares of certain U.S. subsidiaries of a group of affiliated Japanese companies securing a ¥119.5 billion loan to the Japanese companies.

We believe that our continued strength lies in ensuring that we attract, retain, and nurture the very best talent from all backgrounds, and we expect the future complexion of Cadwalader, Wickersham & Taft LLP will, with each passing year, more closely reflect the global community that we serve. 

Cadwalader has worked diligently to promote an inclusive work environment and, over the years, has developed many initiatives to fit our unique goals and challenges on issues of diversity and inclusion.  With the creation of the Cadwalader Center for Diversity & Inclusion (CCDI), a central resource for the firm’s diversity programs, initiatives and policies, we aim to improve upon our successes and follow through on our promise to weave diversity and inclusion principles into the fabric of our culture. 

The mission of the CCDI is to enhance gender, racial/ethnic, and LGBT diversity and inclusion within the firm to create an unrivalled environment that attracts, retains and promotes the best and brightest talent available to serve our clients. Governed by the Global Diversity Committee, chaired by Patrick T. Quinn, Managing Partner, the CCDI is a vehicle to support the work we currently perform, to reinforce our dedication to that work, to recognize outstanding effort and to communicate - to each other and to the clients we serve - our longstanding commitment to diversity and inclusion.

Recent Programs & Events

The Cadwalader Center for Diversity and Inclusion hosts programs and events throughout the year that are designed to increase cultural competence, celebrate history and heritage and educate attorneys on how to work effectively on diverse teams.

From Megan’s Law to Bernie Madoff: A Conversation with Judge Chin

- July 23, 2015

The Cadwalader Asian Pacific American Attorney Resource Group hosted a conversation with the Honorable Denny Chin, United States Circuit Judge for the Second Circuit.  During the interactive conversation, Judge Chin discussed his experiences as a federal judge and his path to the bench. Attendees had the opportunity to network and speak with Judge Chin during the cocktail reception that followed.

The Fight for Marriage Equality in the Supreme Court

- June 9, 2015

The Cadwalader LGBT Network and the Gay & Lesbian Advocates & Defenders (GLAD) hosted a Pride Month event, The Fight for Marriage Equality in the Supreme Court, featuring Mary Bonauto, GLAD’s Civil Rights Project Director and Janson Wu, GLAD’s Executive Director. During the presentation Mary discussed her experience arguing before the U.S. Supreme Court for marriage equality and Janson discussed the future of the LGBT rights movement.

Justice Denied: Wards Cove Packing Co. v. Atonio

- May 12, 2015

Members of the Asian American Bar Association of New York, including Cadwalader attorneys and the Honorable Denny Chin of the U.S. Court of Appeals for the Second Circuit presented a case reenactment of Wards Cove Packing Co. v. Atonio, a landmark employment discrimination case. The presentation told the story of the Wards Cove workers through narration, reenactment of court proceedings, and historic photographs. To view the performance, click here.

The Partner Track

- May 5, 2015

The Cadwalader Asian Pacific American Attorney Resource Group and the Women’s Leadership Initiative co-hosted a panel discussion with Cadwalader Partners, Ingrid Bagby, Kathy Chin and Athena Eastwood, focusing on their career experiences and paths to partnership. The panel was moderated by Helen Wan, author of The Partner Track, a fictional story about a young Asian-American corporate associate up for partner at her New York law firm.

“From Selma to Ferguson to Today: Why Civil Rights Matter,” featuring Professor Charles Ogletree, Harvard Law School

- April 29, 2015

The Cadwalader Black and Latino Association hosted a conversation with Charles Ogletree, Harvard Law School Jesse Climenko Professor of Law, and Founding and Executive Director of the Charles Hamilton Houston Institute for Race and Justice.  The conversation was followed by a cocktail reception where attorneys had the opportunity to network  and speak with Professor Ogletree.

The Art of Building Business Relationships and Executive Presence

- March 25, 2015

The Women’s Leadership Initiative and Diane Darling, Founder of the Darling Institute, hosted a workshop on building business relationships and executive presence.  This interactive presentation explored how professionals at all stages of their career can integrate networking and relationship-building into their everyday lives. 

WLI London Client Event: “Walking the Nile” by Levison Wood

– March 12, 2015

The Women’s Leadership Initiative hosted a special evening at our London office with Levison Wood, explorer, writer, and photographer. Formerly an officer in the British Parachute Regiment, Wood has led pioneering journeys into undiscovered regions, travelling to more than 80 countries. His nine-month walk along the length of the Nile, from source to sea, is chronicled in a recent Channel 4 documentary. During the presentation Wood described the amazing people, breathtaking places and shocking sights he encountered on his ground-breaking expedition.