The Legal 500

Within Corporate tax, tier 5

The team at Shearman & Sterling LLP is ‘commercial and practical, and communicates effectively’, acting on many high-profile, complex and multi-jurisdictional matters. It advised long-time client New England Sports Ventures on its successful acquisition of Liverpool FC, and American Sugar Holdings on its £211m acquisition of Tate & Lyle’s EU sugar-refining business. Well-respected partner Iain Scoon ‘identifies problems and solutions quickly’.

Within Equity capital markets: UK capability, tier 6

Monica McConville joined Shearman & Sterling LLP from Freshfields Bruckhaus Deringer in July 2011 to lead a dedicated ECM team at the firm. Laurence Levy recently advised African Barrick Gold and Tata Steel, and also acts for banks including Credit Suisse and Barclays.

Within Equity capital markets: US capability, tier 4

Shearman & Sterling LLP is rated for both underwriter and issuer matters, and has acted for the likes of Nokia and Goldman Sachs. Joint head of the corporate group Richard Price has an excellent reputation.

Within EU and competition , tier 5

The ‘exemplary’ Shearman & Sterling LLP strengthened its team in Brussels with the hire of three partners from the now disbanded Howrey LLP. It continues to assist Areva in a £250m High Court damages claim by National Grid; and is also advising Citigroup in the OFT’s market study into equity underwriting. Other clients include large hedge funds. The team is ‘always available and responsive, with a shrewd ability to get to the desired result’. Matthew Readings and senior associate James Webber both win high praise.

Within Financial services, tier 4

Shearman & Sterling LLP has both UK and US capabilities. The team advised US-based DTCC on setting up a subsidiary to run a new global derivatives repository. Barney Reynolds is a principal contact, and Richard Kelly has investigations experience. Azad Ali is also recommended.

Within M&A: upper mid-market and premium deals, 250m+, tier 4

Shearman & Sterling LLP ‘has the expertise where it matters’, and Creighton Condon is consistently singled out for his dealmaking abilities. The London team was involved on one of the highest-profile UK M&A deals in 2010, acting for New England Sports Ventures on its £300m bid for Liverpool FC, led by Condon and the highly regarded Laurence Levy. George Karafotias headed up a team on Ardagh Glass’ €1.7bn acquisition of metal packaging company Impress Coöperatieve.

Within M&A: US law capability, Shearman & Sterling LLP is a first tier firm,

Shearman & Sterling LLP’s Creighton Condon is a ‘truly exceptional’ practitioner, and George Karafotias ‘combines technical expertise with commercial common sense’. A large cross-border team was assembled and led from London to advise Ardagh Glass Group and its subsidiaries in its €1.7bn acquisition of Impress Coöperatieve.

Within Fraud: civil , tier 5

Jo Rickard leads the team at Shearman & Sterling LLP. Richard Kelly, who is dual qualified, advises on issues arising out of complex financial products; and Barney Reynolds is a well-known figure.

Within Fraud: corporate crime, Shearman & Sterling LLP is a third tier firm,

Shearman & Sterling LLP is well placed to advise on the US and UK aspects of fraud matters. Jo Rickard heads the team.

Within Banking litigation: investment and retail, tier 5

Shearman & Sterling LLP is currently assisting ENKA in pursuing enforcement action against two Italian banks, having obtained summary judgment in a claim worth $16m. The highly respected Jo Rickard heads the team; and Richard Kelly is ‘quite an operator’.

Within Commercial litigation, tier 6

Jo Rickard heads the group at Shearman & Sterling LLP, which recently advised the purchasers of Liverpool FC in court proceedings relating to the attempt by the previous owners of the club to prevent the sale. Richard Kelly is also recommended.

Within International arbitration, tier 4

Shearman & Sterling LLP’s London group grew to three partners with the promotion of Richard Kelly. Key matters included representing Viorel Micula as claimant in an ICSID arbitration against the Republic of Romania under the Sweden-Romania bilateral investment treaty. David Reed has advised in arbitrations involving commercial, construction, oil and gas, investment, engineering, IT and shipping matters. Alex Bevan is a key practitioner.

Within Acquisition finance, tier 5

With its dual UK/US capability, Shearman & Sterling LLP is well placed to handle the trend among borrowers to tap the high yield market as well as to seek bank debt to fund acquisitions. It advised Advent International on the £670m acquisition of the Priory Group from RBS, involving a £600m bond element and £70m super senior revolving credit facility. Anthony Ward, Clifford Atkins, Caroline Leeds Ruby and Iain Goalen are integral members of the team, whose clients include Citigroup, Credit Suisse, UBS, Investcorp, and TPG.

Within Bank lending: investment grade debt and syndicated loans , tier 4

Shearman & Sterling LLP has handled a raft of refinancings and new-money deals for both banks and corporates. Recent highlights include advising Labco on a €500m bond offering, and €125m revolving credit facility. Led out of London by Clifford Atkins, the mandate involved significant input from the firm’s US and European offices. Other clients include Citigroup, Barclays Capital, UBS and Ardagh Glass Group.

Within Commodities: derivatives, Shearman & Sterling LLP is a second tier firm,

Shearman & Sterling LLP advises banks, hedge funds and corporations on regulatory and transactional matters. Barney Reynolds is ‘well known and greatly respected’, and Patrick Clancy is another notable name in the team, which advises IntercontinentalExchange and ICE Clear Europe.

Within Corporate restructuring and insolvency,

Also of note are: Nick Angel at Milbank, Tweed, Hadley & McCloy LLP; and Tony Horspool at Ropes & Gray LLP. Brown Rudnick LLP, Dewey & LeBoeuf LLP, Reed Smith and Shearman & Sterling LLP are among the firms continuing to make a concerted push into the area.

Within Debt capital markets, tier 4

Mei Lian, Richard Price, Clifford Atkins and Jacques McChesney stand out at Shearman & Sterling LLP, which advises financial institutions such as RBS and HSBC on deals into the US, and complex hybrid securities.

Within Derivatives and structured products, Shearman & Sterling LLP is a third tier firm,

Clifford Atkins’ European finance group at Shearman & Sterling LLP specialises in complex, technical matters. Patrick Clancy is ‘very commercial and has extensive knowledge’ of complex derivatives documentation; Julian Tucker advises investors in distressed deals; and recent work for Ian Harvey-Samuel includes trading claims against Lehman Brothers. Clients include IntercontinentalExchange, which it has been advising on matters including a new rulebook for OTC trading. Mei Lian is also recommended.

Within High yield, Shearman & Sterling LLP is a second tier firm,

Despite losing Ward McKimm to Kirkland & Ellis International LLP, Shearman & Sterling LLP is recognised for its ‘amazing track record’ in the market. Jacques McChesney remains a leading figure, and Apostolos Gkoutzinis has been promoted to partner. Bank of America Merrill Lynch, Credit Suisse, Advent International, and Oxea Finance & Cy are among the clients of the team, which recently represented furniture group DFS Furniture Holdings on its £240m offering of senior secured notes.

Within Investment funds, Shearman & Sterling LLP is a third tier firm,

Shearman & Sterling LLP advised key clients on the establishment and launch of a new hedge fund and a new real estate fund. Of counsel William Murdie heads the practice, and is highly rated.

Within Islamic finance, Shearman & Sterling LLP is a third tier firm,

Shearman & Sterling LLP advises on shari’ah-compliant financing and mixed conventional/Islamic financing for major projects including Pakistan’s New Bong and Uch II developments and Saudi Arabia’s Ras Tanura petrochemicals project. It has also been advising on Nakheel’s restructuring. Tim Pick is recommended.

Within Overview,

US firms also continue to feature prominently, in the corporate restructuring, acquisition finance and high yield rankings in particular. White & Case LLP can lay claim to having the broadest finance offering, while other firms featuring in multiple rankings include Weil, Gotshal & Manges, which recently picked up a four-partner investment funds team from Clifford Chance; Skadden, Arps, Slate, Meagher & Flom (UK) LLP; Kirkland & Ellis International LLP; and Shearman & Sterling LLP. Other strong performers are Bingham McCutchen (London) LLP, which moves up to the top tier for corporate restructuring in recognition of its market-leading bondholder practice; and Simpson Thacher & Bartlett LLP, which excels in leveraged finance, advising the likes of KKR and Blackstone.

Within Securitisation, Shearman & Sterling LLP is a third tier firm,

Shearman & Sterling LLP’s Julian Tucker advises many investors in distressed deals, and has notable expertise in whole-business securitisations and structured property transactions; he is ‘as good as anyone, highly engaged and with a light-hearted, no-nonsense approach’. The firm is active in bespoke private deals, and Ian Harvey-Samuel is experienced in restructurings.

Within Employee share schemes, tier 5

Sam Whitaker is recommended at Shearman & Sterling LLP.

Within Insurance: corporate and regulatory, Shearman & Sterling LLP is a third tier firm,

Shearman & Sterling LLP’s multidisciplinary insurance group handles a range of insurance and reinsurance work, including M&A, tax, securities and regulatory matters. It acted on Towergate Finance’s £250m bond offering. Practice head Barney Reynolds is the key contact.

Within Infrastructure, Shearman & Sterling LLP is a third tier firm,

Shearman & Sterling LLP continues to advise Alcoa on its joint venture with Ma’aden to develop and finance the $10.8bn Ras Al Zawr Smelter. Co-head of global project finance Nicholas Buckworth is the main contact, and Tim Pick is also very active.

Within Mining and minerals, Shearman & Sterling LLP is a second tier firm,

Shearman & Sterling LLP may be well known as ‘one of the world’s best project finance firms’, but it also packs a punch on the corporate side. It advised African Barrick Gold and Barrick Gold Corporation on African Barrick Gold’s £2.3bn IPO on the London Stock Exchange.

Within Oil and gas, Shearman & Sterling LLP is a second tier firm,

Shearman & Sterling LLP’s lawyers have a ‘deep knowledge of market practice and precedents’ and are ‘team players with superb technical skills’, making the firm ‘top of the list for project finance’. Recent highlights include advising Citadel Capital and Egyptian Refining Company on the $3.5bn financing for the redevelopment of a hydrocracking refinery project. Kenneth MacRitchie and Nicholas Buckworth are well known in the market.

Within Power (including electricity, nuclear and renewables) , Shearman & Sterling LLP is a second tier firm,

At Shearman & Sterling LLP, project finance co-head Nicholas Buckworth is ‘the man you want in your corner’, and Kenneth MacRitchie is also recommended. The firm has strength across project finance, litigation and corporate matters, and in 2010 advised International Power on its offering of €250m senior notes.

Within Water, Shearman & Sterling LLP is a third tier firm,

Shearman & Sterling LLP has a strong record in advising on headline Middle East water projects from London, under the leadership of co-head of global project finance Nicholas Buckworth. Clients include Rabigh Arabian Water & Electricity Co.

Within Commercial property, tier 5

Shearman & Sterling LLP advised Stanhope on its partnership with Threadneedle Asset Management Finance and The Carbon Trust to launch the Threadneedle Low-Carbon Workplace Trust. Clare Breeze and practice head Ian Nisse are recommended.

Within Environment, tier 5

Shearman & Sterling LLP’s Mehran Massih leads on environmental aspects of corporate and finance transactions. Highlights included advising American Sugar on acquiring Tate & Lyle’s European business, and advising ICE Futures Europe on carbon trading regulations.

Within Intellectual property, tier 5

Led by Deborah Lincoln, Shearman & Sterling LLP’s ‘prompt, focused team’ is commended for its ‘excellent response times and commercial understanding’. It advises international clients B/E Aerospace, Abu Dhabi Media Investment Corp, and American Sugar Refining Company on non-contentious IP issues.