Cadwalader Disputes Nomura's $70M Malpractice Suit

Law360, New York (September 22, 2011, 1:22 PM EDT) -- A New York judge grilled an attorney for Cadwalader Wickersham & Taft LLP on Wednesday, asking why the firm didn't review documentation underlying a single hospital loan that was part of a group of bundled loans that later caused Nomura Asset Capital Corp. to lose $70 million.

Cadwalader provided advice on hundreds of commercial loans as Nomura Asset Capital Corp.'s securitization counsel, including a $50 million mortgage loan on the Doctors Hospital of Hyde Park, Ill., according to Nomura's suit against the law firm.

But the...
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