Bloomberg Law
Oct. 22, 2015, 9:25 PM UTC

Court Dismisses Long-Running Malpractice Case Against Cadwalader

Ellen Rosen

Favorable rulings do come to those who wait, at least in the case of Cadwalader, Wickersham & Taft LLP.

New York’s highest court on Thursday has ruled in favor of the firm, dismissing in its entirety a long-running malpractice suit filed by Nomura Asset Capital Corp. over a failed CMBS, a commercial mortgage-backed securitization on which Cadwalader had acted as counsel. As it had for many of Nomura’s offerings, Cadwalader had conducted due diligence, drafted documents and gave legal opinions.

The case’s lengthy history began when one of the underlying loans of a Nomura CMBS went into default. That default ...

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