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Shearman & Sterling LLP

401 9TH STREET, NW, SUITE 800, WASHINGTON, DC 20004-2128, USA
Work +1 202 508 8000
Fax +1 202 508 8100

Kristen Garry

Work +1 202 508 8186
Shearman & Sterling LLP




United States: Tax

Financial products

Within: Financial products

Shearman & Sterling LLP is a top choice for a range of major financial institutions, including Citigroup, Credit Suisse, Bank of America, UBS and Barclays. The firm’s standing in the financial products arena is reflected in its role as counsel to the International Swaps and Derivatives Association (ISDA). A major highlight in the past year was in the firm’s representation of the estate of Andrew J. McKelvey, the founder of, in which Washington DC-based partners Kristen Garry and Robert Rudnick led the client to a major victory at the Tax Court in a $41.3m dispute concerning two variable prepaid forward contracts. On the capital markets side, team head Michael Shulman advised Viacom on two $650m fixed-to-floating rate junior subordinated debenture issuances. The up-and-coming Nathan Tasso was promoted to partner in January, 2018.

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US taxes: contentious

Within: US taxes: contentious

Tax controversy matters handled by Shearman & Sterling LLP include tax treatment of financial products, international corporate reorganizations and cross-border financings, tax accounting methods, transfer pricings and interest computations. Kristen Garry, Robert Rudnick and Nathan Tasso, who was made partner in January 2018, successfully acted for the estate of’s founder Andrew McKelvey in a case before the Tax Court involving the extension of two variable prepaid forward contracts, which was followed by an IRS deficiency determination. The team has also been assisting an affiliate of Susquehanna International at the Tax Court, which has potential tax liabilities of nearly $300m. Thomas Johnston is also recommended. Lawrence Hill and of counsel Richard Nessler moved to Winston & Strawn LLP in February 2017.

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