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Cadwalader, Wickersham & Taft

US Financial Crisis and the downturn 2009 (2)

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Rankings at a glance
Award levelCommended
InnovationThe first out-of-court monoline insurance restructuring, the CIFG Settlement
Originality6
Rationale6
Impact6
Total18
DescriptionThe out-of-court restructuring solution, proposed by the firm themselves, saved the company and worked as a model for eight other monoline insurance restructurings

US Financial Crisis and the downturn 2009

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Rankings at a glance
Award levelHighly commended
InnovationLyondell debtor in possession financing
Originality6
Rationale7
Impact7
Total20
DescriptionIn the largest ever DIP financing, the firm used a unique structure of a single foreign debtor as a conduit to allow funding to reach their European subsidiaries