Clark Hill Thorp Reed lawyers exemplify the firm’s commitment to hard work, high ethical standards and dedication to client service. Our attorneys practice in diverse areas of law, and combine a multidisciplinary approach to solving legal problems. The bottom line: Clients of Clark Hill Thorp Reed benefit from attorneys whose expertise and commitment deliver effective client outcomes and superior legal service.

Mr. Cady is a member of the firm's Financial Institutions and Real Estate Transactions Department.  His practice is concentrated in the areas of commercial finance, mergers and acquisitions, workouts, bankruptcy, and creditors' and debtors' rights.  He obtained extensive experience as a law clerk for the Honorable Jerome Feller, United States Bankruptcy Judge in the Eastern District of New York, and while representing lenders, debtors and creditors in complex commercial and corporate Chapter 11 reorganization cases with a major New York City law firm.

Education

• J.D., Hofstra University School of Law, 1997
  Graduated with Distinction
  Articles Editor, Hofstra Law Review
  Citation of Excellence in Commercial Law, Hofstra University School of Law
  Charles C. Fallabella Award Outstanding Academic Achievement in Labor
       and Industrial Relations Law
  Lawrence C. Schoen Scholarship in Memory of Howard H Born, Distinguished
       Academic Merit Scholarship
• B.A., Philosophy and Economics, West Virginia University, 1983
  Magna Cum Laude
  The Wall St. Journal Award, Outstanding Academic Achievement
       in Economics
  Golden Key National Honor Society

Bar / Court Admissions

• Commonwealth of Pennsylvania
• State of New York
• U.S. District Court for the Western District of Pennsylvania
• U.S. District Court for the Southern District of New York
• U.S. District Court for the Eastern District of New York
• U.S. District Court for the Eastern District of Michigan
• U.S. Court of Appeals for the Third Circuit
• Allegheny County Bar Association

Commercial Finance

• Counsel to the lender in connection with secured bank-qualified and non-bank qualified credit facilities for a private, non-profit assisted living facility operator, the proceeds of which were used to refinance existing indebtedness and for providing working capital.
• Representation of the administrative agent with respect to a $75,000,000 asset based credit facility, the proceeds of which were used, among other things, to finance the acquisition by the borrower of substantially all of the assets of a metals merchant/broker.  The credit facility was fully secured by all of the assets of the borrower, which included imported inventory for which numerous third-party consents and acknowledgements were negotiated, including among others customs brokers, port operators, commodity brokers, consignors and warehousers.
• Representation of the senior secured lender with respect to a $13,000,000 asset based credit facility, the proceeds of which were used, among other things, to finance the acquisition by the borrower of substantially all of the assets of a company in the book binding business.  A portion of the credit facility was covered by a guarantee from the Export Import Bank of the United States.

Bankruptcy, Creditors’ and Debtors’ Rights

• Counsel to the agent in connection with an approximately $41,000,000 debtor-in-possession financing of the Chapter 11 bankruptcy of a steel storage systems manufacturer that involved the roll-up of the syndicate's pre-petition debt and the negotiation of a consensual, orderly liquidation of the debtor's domestic and foreign assets with the committee of unsecured creditors and a junior secured creditor.
• Representation of a major telecommunications company in the largest Chapter 11 bankruptcy case commenced in the United States.  Among other things, assisted the company's efforts to secure various forms of emergency relief upon the filing of its bankruptcy case and advised corporate executives in resolving the myriad crises the company faced during the initial stages of its reorganization.
• Representation of the administrative agent for the senior secured lender group in the Chapter 11 case of a steel manufacturer that involved the orderly liquidation of the company’s major steel-making components and obtaining court approval for the $40,000,000 sale of the company’s primary assets over the objections of an alternative purchaser.
• Representation of a national nursing home and assisted living facility operator in its Chapter 11 reorganization case.  Assisted the company in its lease divesture program, and aided in the negotiation and formulation of a structured settlement in the United States government related to a claim of Medicaid-Medicare underpayment liability, both of which were integral to the company’s successful reorganization efforts.

Mergers and Acquisitions

• Representation of the purchaser in the successful $12,500,000 asset acquisition of the largest fireworks manufacturer and show presenter in the United States.  The representation included assisting the client in the closing of a credit facility to partially fund the acquisition.