Shearman & Sterling LLP > Austin, United States > Firm Profile

Shearman & Sterling LLP
111 CONGRESS AVENUE SUITE 1700
AUSTIN, TEXAS, 78701
United States

Dispute resolution > Securities litigation: defense Tier 1

Shearman & Sterling LLP is recognized as one of the pre-eminent firms for securities litigation, investigations, and enforcement actions. The firm has offices across the US, giving it a strong presence in state and federal court actions throughout the country. Best known for its strong relationships with financial institutions, the firm is a key adviser to underwriters, though it frequently acts for corporate issuers in high-stakes matters. For Canadian cannabis company Sundial Growers, the firm secured the dismissal of a securities class action arising from the company’s IPO, which was followed by declines in its stock price. Adam Hakki, who led that case, and Richard Schwed in New York, lead the team along with Patrick Robbins in San Francisco. Agnès Dunogué is an up-and-coming partner in New York, where Grace Lee was promoted to partner in April 2021, as was Mallory Brennan in Houston. Hakki and Lee recently acted for Morgan Stanley in a class action alleging that defendants conspired to fix interest rates of variable rate demand obligations at an artificially high level.

Practice head(s):

Adam Hakki; Richard Schwed; Patrick Robbins

Key clients

Bank of America Merrill Lynch

Pattern Energy Group

Uber Technologies, Inc.

Sundial Growers Inc.

Barclays

ViacomCBS

Intercontinental Exchange, Inc.

Synchrony Financial

Cemex LatAm

Mizuho

Credit Suisse

Evercore

Cantor Fitzgerald

Altice USA

BNP Paribas

Dycom Industries, Inc.

Goldman Sachs

Taro Pharmaceuticals

Jefferies

Citigroup

Morgan Stanley

Work highlights

  • Represented Sundial Inc. in a putative securities class action in New York state court. On February 16, 2021, the Appellate Division of the New York State Supreme Court, First Department, unanimously affirmed the dismissal of the action in its entirety.
  • Represented Uber Technologies, Inc., a multinational technology company, and certain of the Company’s directors in a securities class action lawsuit filed in California.
  • Represented purchasers of the ProShares Short VIX Short-Term Futures ETF in a significant litigation victory in a putative securities class action brought in the U.S. District Court for the Southern District of New York related to the infamous “Volpocalypse,” in which the VIX (volatility index) collapsed in February 2018, with billions of dollars in resulting investor losses.

Finance > Project finance

When it comes to working with lenders, Shearman & Sterling LLP sits at the top of the market, representing leading banking clients such as MUFG Bank and DNB in financing transactions relating to the development of power, energy, oil & gas, infrastructure and mining projects. The group also maintains a strong sponsor-side practice, capable of advising both private developers and public authorities on complex infrastructure projects. In a recent highlight, the team represented the US Department of Transportation (DoT) in the $1.3bn SR 400 Express Lanes Project in Atlanta. Paul Epstein  led on the transaction, one of a number of matters he has handled for DoT in recent months. Gregory Tan  continues to lead the global group from the New York office, which also includes metals and mining lead Cynthia Urda Kassis  and energy specialist Robert Freedman , who is the main point of contact for many of the firm's primary banking clients.

Practice head(s):

Gregory Tan

Other key lawyers:

Cynthia Urda Kassis; Robert Freedman; Alexandro Padrés; Denise Grant; Augusto Ruiloba; Robert O’Leary; Paul Epstein; David Ullman

Key clients

MUFG Bank

Northwestern Mutual

DNB Bank

ING

Caixabank, S.A.

Sumitomo Mitsui Banking Corporation

United States Department of Transportation (DOT)

Northwestern Mutual

United States Environment Protection Agency (EPA)

Project Development & Finance

Oryx Midstream Services

Work highlights

  • Represented private placement investors on the issuance and sale of  $125m of senior secured notes by Bulldog Infrastructure Group, LLC for the California State University, Fresno Central Utility Plant Replacement Project.
  • Advised a Chilean energy company as New York counsel on the entry into a $125m unsecured loan facility from the Inter-American Investment Corporation.
  • Advised MUFG Bank on an incremental construction-to-term loan facility and an expansion of the revolving facility for Bolt FinanceCo, LLC for the construction and expansion of one of the projects in a portfolio of three battery energy storage projects located in California.

Antitrust > Civil litigation/class actions: defense Tier 2

The antitrust group at Shearman & Sterling LLP represents clients in class actions and civil litigation pertaining to market allocation claims, monopolization, price-fixing, and unfair competition. The firm is particularly strong in the financial services sector but also sports extensive antitrust litigation expertise in other industries including technology, media and entertainment, healthcare, and agribusiness. David Higbee (Washington DC) leads the department while Adam Hakki (New York) and Patrick Robbins (San Francisco) are also key contacts of the firm’s antitrust bench. In March 2021, technology sector expert Ryan Shores (Washington DC) rejoined the group after a stint at the DOJ. Clients turn to Richard Schwed (New York) in questions of commodity exchange class action and securities litigation as well as finance-related antitrust matters.

Practice head(s):

David Higbee

Key clients

1-800 Contacts

Bank of America

BNP Paribas

Chevron

Intercontinental Exchange

Morgan Stanley

Rubycon

SS&C

Switch

Dispute resolution > General commercial disputes Tier 2

Shearman & Sterling LLP can showcase a series of victories for its clients from a range industries such as automotive, chemicals, healthcare, media and entertainment, medical devices, and technology. The practice is further regularly involved in financial products disputes as well as in breach of contract, fraud, professional malpractice, business torts, and insurance and reinsurance matters. Adam Hakki  in New York is a go-to litigator for financial institutions. Fellow New Yorker Richard Schwed  also covers antitrust and securities disputes. They lead the practice together with San Francisco-based Patrick Robbins. Stephen Fishbein in New York is a contract dispute specialist.

Practice head(s):

Adam Hakki; Richard Schwed; Patrick Robbins

Other key lawyers:

Stephen Fischbein

Key clients

SS&C Technologies, Inc.

General Electric

Citigroup

Sundial Growers Inc.

JetBlue

CEMEX LatAm

1-800 Contacts, Inc.

Dycom Industries Inc.

Credit Suisse

Altice USA

ViacomCBS

Morgan Stanley

Pattern Energy Group, Inc.

YETI Coolers, LLC

Uber Technologies, Inc.

Advent Software, Inc.

Maverick Capital Funds

JP Morgan Chase & Co.

OrbiMed Advisors LLC

Work highlights

  • Achieved a significant victory on behalf of 1-800 Contacts in a long-running case against the Federal Trade Commission.
  • Achieved a victory on behalf of our client JetBlue Airways Corporation in the United States District Court for the Eastern District of New York regarding claims for monopolization and attempted monopolization under Section 2 of the Sherman Act and for breach of contract and promissory estoppel under New York law.
  • Achieved a victory for General Electric Company in the Delaware Court of Chancery in litigation arising out of the 2017 merger of GE’s oil and gas segment and Baker Hughes Inc.

Dispute resolution > International litigation Tier 2

With strong expertise in complex financial products, Shearman & Sterling LLP‘s litigation group is particularly popular among investment banks for securities disputes and class actions. New York-based Adam Hakki and Richard Schwed head the practice alongside Patrick Robbins in San Francisco. Other names to note in New York include Jerry Fortinsky and Brian Burke, particularly for China-related litigation, and Katherine Stoller for both cross-border litigation and enforcement investigations. The group benefits from a number of former federal prosecutors and enforcement lawyers among its ranks, including Washington DC-based antitrust litigator Ryan Shores, who rejoined the practice from the Department of Justice in early 2021. Other additions to the team during 2021 include the arrival in Dallas of commercial and securities litigation and class action defense duo Thad Behrens and Dan Gold from Haynes and Boone, L.L.P. and Austin-based IP litigator Saul Perloff from Norton Rose Fulbright.

Practice head(s):

Adam Hakki; Richard Schwed; Patrick Robbins

Key clients

Bank of America Merrill Lynch

Pattern Energy Group

Uber Technologies, Inc.

Sundial Growers Inc.

Barclays

ViacomCBS

Intercontinental Exchange, Inc.

Synchrony Financial

Cemex LatAm

Mizuho

Credit Suisse

Evercore

Cantor Fitzgerald

Altice USA

BNP Paribas

Dycom Industries, Inc.

Goldman Sachs

Taro Pharmaceuticals

Jefferies

Citigroup

Morgan Stanley

Work highlights

  • Represented Sundial Inc in a putative securities class action in New York state court. On February 16, 2021, the Appellate Division of the New York State Supreme Court, First Department, unanimously affirmed the dismissal of the action in its entirety.
  • Represented Bank of America Mexico, SA in a putative antitrust class action in the Southern District of New York concerning the market for Mexican Government Bonds where plaintiffs claimed billions of dollars in damages and relied heavily on actions taken by COFECE, Mexico’s competition law authority.
  • Representing Citigroup in an internal investigation and in US regulatory and enforcement inquiries concerning a personal security unit within Citigroup’s Mexican unit, Banamex.

Dispute resolution > M&A litigation: defense Tier 2

Shearman & Sterling LLP has a deep bench of lawyers whose practices focus on many related area of law, among them securities, criminal law enforcement, antitrust, commercial disputes, intellectual property and arbitration. The firm is able to handle all aspects of the most complex M&A  and ensuing litigation, with litigators closely involved in deal structuring, pre-trial strategy and the trial process itself, whether in Delaware or in other fora around the country. Global managing partner and head of litigation Adam Hakki has a stellar reputation in both securities litigation and M&A disputes. He leads the M&A litigation practice along with fellow New York partners Paula Anderson, Alan Goudiss and Mallory Brennan. Goudiss and Brennan represented Pattern Energy Group in successfully defeating a putative class action in Delaware arising from its merger agreement with a subsidiary of Canada Pension Plan Investment Board, which was challenged by Water Island Capital.

Practice head(s):

Adam Hakk; Alan Goudiss; Paula Anderson; Mallory Brennan

Key clients

Daimler AG

Warren Rustand

WebMD

Dassault Systèmes

CVS Health Corporation

Altice USA

LyondellBasell Industries

Morgan Stanley

Hoya Corporation

General Electric

bibliotheca

Capital Square Partners

Advanced Disposal Services

Bojangles

EnCap Flatrock Midstream Fund II, L.P.

Raytheon Co.

Bank of America Merrill Lynch

Orbital ATK Inc.

Pattern Energy Group, Inc.

Work highlights

  • Represented Pattern Energy Group, Inc. in a putative securities class action case in the United States District Court for the District of Delaware.
  • Represented General Electric Company in the Delaware Court of Chancery. This litigation arose out of the 2017 merger of GE’s oil and gas segment (“GE O&G”) and Baker Hughes Inc., an oil field services provider.
  • Represented Morgan Stanley in obtaining a dismissal of an action arising out of Blackstone’s 2018 acquisition of the Gramercy Property Trust REIT. Morgan Stanley worked as a financial advisor on the transaction and issued a fairness opinion supporting the deal.

Finance > Capital markets: debt offerings

Shearman & Sterling LLP

Practice head(s):

Ilir Mujalovic

Key clients

Barclays

BNP Paribas

BofA Securities

Bunge Limited

Citigroup

Coca-Cola European Partners plc

Cowen & Co.

CVS Health Corporation

Credit Suisse Securities (USA) LLC

The Dow Chemical Company

Goldman Sachs & Co.

J.P. Morgan Securities LLC

Morgan Stanley & Co. LLC

Wells Fargo Securities

Work highlights

  • Advised CVS Health Corporation (CVS Health) on its $2bn bond offering consisted of $750m of its 1.3% senior notes due 2027 and $1.25bn of its 1.875% senior notes due 2031, and advised CVS Health on its $1bn bond offering and related $2.05bn cash tender offer for its outstanding 4.300% senior notes due 2028.
  • Advised the underwriters on Lowe’s Companies, Inc.’s public offering of $1.5bn of its 2.625% notes due 2031 and $500m of its 3.5% notes due 2051, and advised on Lowe’s Companies, Inc.’s public offering of $1bn of 1.700% notes due 2028 and $1bn of 2.800% notes due 2041.
  • Advised The Bank of Nova Scotia in connection with its $2.9bn notes offering including senior floating rate notes due 2023 (Bail-inable notes), senior floating rate notes due 2026 (Bail-inable notes), 0.400% senior notes due 2023 (Bail-inable notes) and 1.300% senior notes due 2026 (Bail-inable notes), and advised The Bank of Nova Scotia in connection with its inaugural registered offering of $1bn aggregate principal amount of 0.650% Senior Sustainability Bonds due 2024 (Bail-inable notes) and on its registered offering of $650m aggregate principal amount of Senior Floating Rate Notes due 2024 (Bail-inable notes).

Finance > Capital markets: equity offerings

Shearman & Sterling LLP continues to be amongst the leading firms in underwriter representations, particularly healthcare and SPAC equity offerings. The firm maintains an active presence on the issuer side and is noted for its strength in SEC reporting, disclosure and corporate governance. Ilir Mujalovic leads the capital markets team and is particularly known for his expertise and experience in the healthcare sector, and has made a further impression in SPAC offerings; he recently advised the underwriters of on Lucira Health’s $176m IPO. Lona Nallengara is further noted for issuer-side representations in equity offerings, SEC reporting, disclosure and governance, having previously held senior positions at the SEC. Menlo Park partner Christopher Forrester  is a key figure on the West coast. All named individuals are based in New York unless stated otherwise. Merritt Johnson  has joined Weil, Gotshal & Manges LLP.

Practice head(s):

Ilir Mujalovic

Other key lawyers:

Lona Nallengara; Christopher Forrester; Richard Alsop; Bill Nelson

Key clients

Albemarle Corporation

BofA Securities

Citigroup

Cowen & Co.

Credit Suisse Securities (USA) LLC

Goldman Sachs & Co.

J.P. Morgan Securities LLC

Morgan Stanley & Co. LLC

Intapp, Inc.

SAP SE

TELUS International

ViacomCBS Inc.

Work highlights

  • Advised TELUS International in connection with its $925m cross-border IPO.
  • Advised Qualtrics International on its carve out of Qualtrics from SAP, along with Qualtrics’ IPO and its acquisition of Clarabridge, Inc.
  • Advised Intapp in connection with its $314m IPO.

Finance > Capital markets: global offerings

Shearman & Sterling LLP is rated for both bank side and issuer engagements, particularly those involving Canadian and Latin America entities. The firm is noted for its record in SEC-registered IPOs and debt offerings, along with Rule 144A/Regulation S offerings and private placements. In Latin America, the firm is also active in the sovereign issuance field. The firm’s well established offices in Toronto and Sao Paulo bring it a wealth of engagements with a number of New York partners and team members also plugged into the Canada and Latin America markets. Latin America giant Stuart Fleischmann retired in January 2022 and Latin America leader Antonia Stolper  has become of counsel. Manuel Orillac  and Grissel Mercado  are now the key New York partners on Latin America deals. Jason Lehner  splits his time between New York and Toronto and is key for Canada offerings.

Practice head(s):

Ilir Mujalovic

Other key lawyers:

Antonia Stolper; Manuel Orillac; Grissel Mercado

Key clients

Aeropuerto Internacional de Tocumen

Azul S.A.

Banco BTG Pactual S.A. – Cayman Branch

Banco de Chile

Banco General, S.A.

The Bank of Nova Scotia

Barclays

BMO Capital Markets

BNP Paribas

BofA Securities

Bradesco BBI

Bradesco Securities Inc.

Citigroup Global Markets Inc.

CIBC World Markets Corp.

Coca-Cola European Partners plc

Credit Suisse

Empresa Nacional del Petróleo (ENAP)

Globo Comunicação e Participações S.A.

Goldman Sachs & Co. LLC

HSBC Securities (USA) Inc.

Itau BBA

Itaú Corpbanca

ITB Holding Brasil Participações Ltda.

J.P. Morgan Securities

Mizuho Securities USA

Morgan Stanley

MUFG Securities Americas Inc.

National Bank of Canada Financial Inc.

PNC Capital Markets LLC

Province of British Columbia

Province of Ontario

RBC Capital Markets

Safra

Santander Investment Securities

Scotia Capital (USA)

SMBC Nikko Securities America

TELUS International (Cda) Inc.

TD Securities

The Nature Conservancy

Volcan Compañía Minera S.A.A.

UBS Securities LLC

XP Investimentos

 

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Work highlights

    Finance > Capital markets: high-yield debt offerings

    Shearman & Sterling LLP has a well-established high-yield debt practice, with a particularly prolific record on the underwriter side. BofA Securities, Citigroup, Credit Suisse, Goldman Sachs and JP Morgan are amongst its key underwriter clients. The high-yield team is very much part of a thriving leveraged finance practice. Ilir Mujalovic leads the Americas capital markets group and is particularly active in the healthcare sector. Jonathan DeSantis  is another key figure with an excellent reputation and prolific record in representing underwriters and issuers. Jason Lehner provides further senior-level expertise from Toronto. Named individuals are based in New York, unless stated otherwise. Merritt Johnson  has joined Weil, Gotshal & Manges LLP.

    Practice head(s):

    Ilir Mujalovic

    Other key lawyers:

    Jonathan DeSantis; Jason Lehner

    Key clients

    BofA Securities Inc.

    Citigroup Global Markets Inc.

    Cowen & Co.

    Credit Suisse Securities (USA) LLC

    CVR Partners

    Dycom Industries, Inc.

    Greenidge Generation

    Goldman Sachs & Co.

    J.P. Morgan Securities LLC

    Leeward Renewable Energy

    Morgan Stanley & Co. LLC

    Service Corporation International No

    Valvoline Inc.

    Work highlights

    • Advised Valvoline Inc. on its Rule 144A/Regulation S offering of $535m of 3.625% senior notes due 2031.
    • Advised CVR Partners, LP and its wholly owned subsidiary, CVR Nitrogen Finance Corporation, on their private placement offering of $550m aggregate principal amount of 6.125% senior secured notes due 2028.
    • Advised Dycom Industries, Inc. in connection with its offering of $500m aggregate principal amount of 4.5% senior notes due 2029.

    Industry focus > Energy transactions: oil and gas Tier 2

    Recommended for its ‘depth of experience across the disciplines', Shearman & Sterling LLP provides broad market knowledge that covers upstream, midstream and downstream matters. The firm also has particular expertise in the private equity space, advising sponsors and managers on oil and gas deals. Hugh Tucker focuses on commercial transactions related to the oil and gas, chemical and real estate sectors including acquisitions, divestitures, joint ventures, project development and financing. He co-leads the team from Houston with Sarah McLean, whose forte is private equity transactions - notably portfolio company investments, acquisitions and divestitures of upstream and midstream oil-and-gas assets, and midstream joint ventures. Another key name is Coleson Bruce in Austin, who handles a range of commercial transactions in the energy sector. The team continues to grow and 2021 saw the arrivals of Emily Leitch from Jones Day, Daniel Tristan from Baker Botts L.L.P. and counsel Gabriel Salinas from Avant Energy.

    Practice head(s):

    Hugh Tucker; Sarah McLean

    Testimonials

    ‘Have worked with all levels within their firm and they are especially good at combining the right level of legal resource to the work required.

    ‘Sarah McLean is the best counsel I have worked with in the Energy space. She is smart, practical, business minded and has really helped us focus on the important issues when negotiating transactions.

    ‘Their firm has depth of experience across the disciplines we need and has been able to give us good counsel on almost every technical legal issue we have experienced.

    ‘Mallory Brennan has been tough but fair in helping us negotiate and settle some challenging business issues.

    ‘Erin Kaufman has consistently delivered timely, high quality work product on M&A transactions we pursued.

    Key clients

    Oryx Midstream Services, LLC  / Oryx Midstream Services II, LLC

    Oil Search Limited

    Orion Mine Finance

    CSW Industrials

    Mubadala

    Elephant Resources, LLC

    Tatanka Midstream, LLC

    Diversified Energy

    Ecopetrol

    Chevron

    Chesapeake Energy Corp

    Work highlights

    • Advised EnCap Flatrock Midstream on the sale of its portfolio company, Moda Midstream (which included the $3bn sale of Moda Ingleside Energy Center, one of the nation’s largest crude export terminals), to Enbridge
    • Advised Diversified Energy Company on its joint (with Oaktree Capital Management) acquisition of Tanos Energy Holdings III’s upstream oil and gas assets (and related facilities in Louisiana and Texas).
    • Advised Elephant Resources and its affiliates Elephant Assets and Elephant Nominee Corporation (collectively “Elephant”),on the negotiation of a Development Agreement with Warwick-Artemis, a newly formed subsidiary of Warwick Investment Group.

    Labor and employment > Employee benefits, executive compensation and retirement plans: transactional Tier 2

    Shearman & Sterling LLP fields a team of ‘practical problem solvers’, who have demonstrable experience in handling the executive compensation and employee benefits aspects of high-end M&A transactions and IPOs, which often involve international elements. The firm counts ViacomCBS, Fenway Sports Group and TELUS International among its key list of clients. Doreen Lilienfeld leads the team and advises clients on a range of compensation issues arising out corporate transactions, such as representing Hitachi in its $9.5bn acquisition of GlobalLogic Inc. ‘Skilled M&A advisorJohn Cannon assists start-up companies in the biotechnology sector on compensation matters and management teams in private equity transactions, while Gillian Emmett Moldowan advises on equity-based incentives, deferred compensation programs, as well as retention and severance arrangements.  All named attorneys are based in the firm’s New York office.

    Practice head(s):

    Doreen Lilienfeld

    Other key lawyers:

    Testimonials

    ‘Excellent client service and knowledge. Practical problem solvers.’

    ‘John Cannon is tremendously experienced in challenging senior executive employment matters. A skilled M&A advisor in employee benefits-related matters.’

    Key clients

    Bakkt Holdings

    Hitachi

    Qualtrics International

    SAP SE

    Fenway Sports Group

    Ardagh Group

    ViacomCBS

    TELUS International

    Greenidge Generation Holdings

    Microvast

    Aegion

    Mubadala Investment Company

    Lanxess

    Texas Instruments

    Vontier

    Boston Scientific

    Pierpont Capital Holdings LLC

    Stone Point LLC

    General Atlantic LLC

    Amherst Holdings LLC

    Work highlights

    • Advised Hitachi in its $9.5bn acquisition of GlobalLogic Inc.
    • Advised Fenway Sports Group, LLC (FSG) in an investment in FSG by RedBird Capital Partners (RedBird).
    • Advised Qualtrics International Inc. in its carve out of Qualtrics from SAP, and Qualtrics’ IPO and acquisition of Clarabridge, Inc.

    Tax > Financial products Tier 2

    Shearman & Sterling LLP is praised by clients for ‘tremendous industry knowledge in financial products and a great depth of experience dealing with many clients‘, with a strong track-record in the taxation of innovative financial products; including numerous mandates involving cryptocurrency issues. The key contact for financial product tax is New York’s Michael Shulman, who ‘stays on top of industry developments and new IRS rules and regulations, and takes time to update and educate clients‘. Shulman is a specialist in developing new financial products, as well as advising regulated investment companies on organizational and transactional matters. Also in New York, counsel Lorenz Haselberger is an expert in financial product taxation. In Washington DC, Kristen Garry  has developed a name for the tax aspects of the LIBOR transition, as well as matters pertaining to cryptocurrency. Nathan Tasso departed the firm in March 2021.

    Practice head(s):

    Michael Shulman

    Other key lawyers:

    Kristen Garry; Robert Rudnick; Michael Daly; Lorenz Haselberger

    Testimonials

    ‘Mike is a subject matter expert in the taxation of financial products.’

    ‘Mike Shulman is one of the best financial products tax experts I have worked with.’

    ‘The firm is an industry leader in taxation including financial products and financial services. The firm is committed to client service and always offers timely and well researched responses to questions. Their billing practices are transparent and fair.’

    ‘Lorenz Haselberger is extremely smart and has an excellent breadth of technical tax knowledge. I view him as a rising industry leader in the taxation of financial products (including digital assets) and more generally in tax issues relevant to financial institutions, and I know he is also well regarded as a tax lawyer in the M&A space. He is highly responsive and is an excellent outside tax advisor who quickly understands the issues and works with clients to find creative solutions. He is highly responsive and is an excellent client service, and is great at breaking down complex concepts for business leaders and non-tax professionals. He truly understands the needs of an in-house tax function and is a pleasure to work with.

    Mike Shulman is the industry leader in taxation of financial products and other issues related to financial services. I trust his advice completely, and know that it supported by research and decades of experience. He stays on top of industry developments and new IRS rules and regulations, and takes time to update and educate clients. He provides great client service and is a true joy to work with!

    ‘I think they have tremendous industry knowledge about financial products and a great depth of experience dealing with many clients. Pretty much any issue I raise they have significant experience in the area and are able to provide high quality advice quickly. They cover both domestic and international aspects of financial products very well.’

    ‘The tax financial products team at Shearman is strong, with particular expertise in the area of ISDA negotiations and issues that arise from the modification of derivative contracts. It is easy to get in touch with folks from the firm for urgent matters.’

    ‘The individuals at the firm are easy to reach with questions, and billing is generally very reasonable. The advice offered is practical and easy to implement. Mike Schulman and Lorenz Haselberger in particular are excellent to work with.’

    Key clients

    Ardagh Metal Packaging S.A

    Coca-Cola European Partners plc (Coca-Cola Europacific Partners plc)

    Bank of America

    Citigroup Global Markets

    J.P. Morgan Securities

    Goldman Sachs & Co.

    Morgan Stanley

    Province of Córdoba and Banco de la Provincia de Córdoba

    CVS Health

    Work highlights

    • Advised Ardagh Metal Packaging Finance plc and Ardagh Metal Packaging Finance USA LLC, both subsidiaries of Ardagh Metal Packaging S.A, on their $2.8 billion offering of high yield notes.
    • Advised Argentina’s Province of Córdoba and Banco de la Provincia de Córdoba on the successful restructuring of approximately $1.67 billion of the Province’s outstanding aggregate U.S. dollar-denominated international bonds.
    • Advised CVS Health on its $1 billion bond offering and related $2.05 billion cash tender offer for its outstanding senior notes.

    Tax > International tax Tier 2

    Shearman & Sterling LLP is is noted for strategic tax advisory and planning work in jurisdictions such as the US, UK, Germany, and France, while the team also advises on international tax structuring, restructuring, and tax controversy matters. It also has expertise in cross-border M&A, and has previously advised private equity and sovereign wealth funds. Based in New York, practice co-head Michael Shulman provides tax advice to onshore and offshore investment funds on transactions. Splitting his time between New York and Menlo Park, co-head Larry Crouch deals with transactional work and planning, particularly on behalf of private equity sellers and buyers. In Washington DC Kristen Garry specializes in cross-border structured finance transactions and capital markets offerings, Jay Singer covers international M&A and spin-off transactions, and Kevin Dolan focuses on cross-border tax matters.

    Practice head(s):

    Michael Shulman; Larry Crouch

    Key clients

    Ardagh Group S.A.

    Lanxess Corporation

    ViacomCBS Inc.

    Hitachi, Ltd.

    TELUS International

    HalioDx

    Mubadala Investment Company

    DBAG Fund VI and Deutsche Beteiligungs AG

    Abertis Infraestructuras, S.A. and Manulife Investment Management

    Boston Scientific

    OMERS Infrastructure Management Inc.

    Bunge Limited

    Coca-Cola European Partners plc (Coca-Cola Europacific Partners plc)

    Morgan Stanley

    BofA Securities

    Citigroup Global Markets

    Goldman Sachs

    J.P. Morgan Securities

    Celanese Corporation

    Province of Córdoba and Banco de la Provincia de Córdoba

    The Nature Conservancy (TNC)

    Work highlights

    • Advised Ardagh Group S.A. on its definitive business combination agreement with Gores Holdings V, Inc., a special purpose acquisition company sponsored by an affiliate of The Gores Group.
    • Advised Hitachi, Ltd. in its acquisition of GlobalLogic Inc.
    • Advised TELUS International (Cda) Inc. in connection with its $925m cross-border initial public offering of 42.55m subordinate voting shares.

    Tax > US taxes: non-contentious Tier 2

    Jointly led from New York by Michael Shulman and Larry Crouch, Shearman & Sterling LLP is highly rated for its eminent public M&A tax practice, handling a number of financings and transactions with a strong cross-border element. The team also regularly advises a number of private equity and sovereign wealth funds on both formation and investment matters. Shulman is recommended for his expertise in onshore and offshore investment funds, while Crouch – who splits his time between New York and Menlo Park – is a key contact for REIT issues. In Washington DC, Kristen Garry and Jay Singer are noted for their respective strengths in securitizations and spin-offs. Dallas-based Ryan Bray is a key port of call for emerging growth companies seeking assistance with choice-of-entity decisions, financings, and other corporate deals. Julia Pashin left the firm in early 2022.

    Practice head(s):

    Michael Shulman; Larry Crouch

    Other key lawyers:

    Key clients

    Hitachi, Ltd.

    SAP SE and Qualtrics International Inc.

    Fenway Sports Group, LLC

    Ardagh Group S.A.

    Lanxess Corporation

    TELUS International

    Microvast, Inc.

    Bakkt Holdings, LLC

    MDH Acquisition Corporation

    CSW Industrials

    ViacomCBS Inc.

    Boston Scientific Corporation

    Intapp, Inc.

    Citibank, N.A.

    DBAG Fund VI and Deutsche Beteiligungs AG

    EnCap Flatrock Midstream, Tall Oak Midstream II and Tall Oak Midstream III

    Bunge Limited

    NIC Inc.

    HalioDx

    Fantasy Sports Shark, LLC

    Mubadala Investment Company

    Next Insurance Inc.

    Abertis Infraestructuras, S.A. and Manulife Investment Management

    Intercontinental Exchange, Inc.

    Texas Instruments Incorporated

    Celanese Corporation

    Glatfelter Corporation

    salesforce.com

    Hitachi, Ltd.

    SAP SE and Qualtrics International Inc.

    Fenway Sports Group, LLC

    Ardagh Group S.A.

    Lanxess Corporation

    TELUS International

    Microvast, Inc.

    Bakkt Holdings, LLC

    MDH Acquisition Corporation

    CSW Industrials

    ViacomCBS Inc.

    Boston Scientific Corporation

    Intapp, Inc.

    Citibank, N.A.

    DBAG Fund VI and Deutsche Beteiligungs AG

    EnCap Flatrock Midstream, Tall Oak Midstream II and Tall Oak Midstream III

    Bunge Limited

    NIC Inc.

    HalioDx

    Fantasy Sports Shark, LLC

    Mubadala Investment Company

    Next Insurance Inc.

    Abertis Infraestructuras, S.A. and Manulife Investment Management

    Intercontinental Exchange, Inc.

    Texas Instruments Incorporated

    Celanese Corporation

    Glatfelter Corporation

    salesforce.com

    Work highlights

    • Advised Qualtrics International Inc. in its carve out of Qualtrics from SAP, and Qualtrics’ initial public offering and its acquisition of Clarabridge, Inc.
    • Advised Lanxess on its acquisition of Emerald Kalama Chemical from American Securities.
    • Advised Fenway Sports Group in a significant investment by RedBird Capital Partners LLC.

    Antitrust > Merger control Tier 3

    Shearman & Sterling LLP handles high-stakes mergers for clients in a number of industries, with notable capabilities in the technology, media & entertainment, chemicals, and minerals sectors, among others. The firm has integrated expertise across merger filings, investigations, and litigation, and also works with clients on regulatory analyses before mergers are put before antitrust authorities. Alongside in-house DOJ and FTC expertise across its bench, the firm also engages regularly with European and UK competition bodies, allowing it to handle cross-border proceedings effectively. The practice is overseen by New York’s Jessica Delbaum, whose work encompasses HSR compliance and filings through to international merger defense proceedings before the DOJ and FTC, alongside Washington DC-based David Higbee, a former high-level DOJ official with strong expertise across government investigations, merger reviews and civil litigation matters for clients in a diverse range of sectors. ‘Persuasive advocate’ Ben Gris was formerly Assistant Director of Trade and Competition at the FTC, and is noted for his focus on merger investigations and litigation.

    Practice head(s):

    Jessica Delbaum; David Higbee

    Other key lawyers:

    Testimonials

    ‘The team goes to great lengths to really understand the client, the issues, and provide fulsome advice that is grounded and practical.’

    ‘David Higbee and his team are great partners who make themselves available to their clients. They have a great bedside manner that makes them really effective counsel.’

    ‘They are very smart, experienced, responsive, pragmatic and they are strong advocates before they are regulators.’

    ‘Ben Gris’s experience gained from spending many years as a regulator at the FTC allows him to provide an invaluable perspective. He is always thinking several steps ahead. He’s a brilliant strategist and a persuasive advocate.’

    Key clients

    Raytheon

    Chevron

    JetBlue

    ViacomCBS

    Texas Instruments Incorporated

    LANXESS

    SAP

    Glatfelter Corporation

    Hitachi

    Work highlights

    • Representing JetBlue Airways Corp in connection with its entry into a strategic alliance with American Airlines Group.
    • Representing ViacomCBS in the defense of the sale of Simon & Schuster to Penguin Random House in the face of a Second Request and a DOJ suit to block the transaction.
    • Represented Bunge Limited in the Second Request investigation of its sale of 35 U.S. interior elevators to Zen-Noh Grain Corporation.

    Dispute resolution > Corporate investigations and white-collar criminal defense

    The white-collar defense and investigations team at Shearman & Sterling LLP is well regarded in the market for its expertise in cross-border investigations and litigation. The practice, which includes former federal prosecutors and enforcement attorneys, is led in New York by Adam Hakki and Stephen Fishbein, and in San Francisco by Patrick Robbins. Fishbein is a veteran trial and appellate lawyer, who acts for both corporations and individuals, while Hakki is recommended for DOJ, SEC and FINRA investigations, among others. Robbins is recommended for FCPA matters, antitrust, accounting and securities fraud and insider trading. The team was bolstered in June 2021, with the arrival of Ryan Shores from the DOJ in Washington DC.

    Practice head(s):

    Adam Hakki; Stephen Fishbein; Patrick Robbins

    Other key lawyers:

    John Nathanson; Christopher LaVigne; Ryan Shores

    Testimonials

    ‘Everyone in the team understands what client wants to accomplish and shares the common goal.’

    ‘Able to cross the cultural boundaries between different jurisdictions.’

    ‘Shearman & Sterling represented our board in a highly complex environment of regulatory and civil litigation with perfect coordination.’

    ‘All partners were extremely client oriented and devoted themselves and their best efforts throughout a multi-year engagement.’

    ‘In disputes and investigations with international or cross-border aspects, the Shearman white-collar team will bring in subject matter expertise for relevant areas, such as tax, data protection, bank regulation, both for US and non-US legal regimes.’

    ‘A great strength of the Shearman white-collar team is its familiarity and sensitivity to commercial and business practices and requirements.’

    ‘Most of the partners in the Shearman white-collar team, and even in other teams such as tax or antitrust, have experience in government posts, both in prosecutor’s offices and regulatory roles, and they bring that experience to bear both in conducting investigations, advising clients on likely outcomes, and engaging in advocacy with US and foreign enforcement officials.’

    ‘While they provide experience and insight into US law and help to familiarize clients with US practices, they are sensitive to and work closely with non-US counsel to ensure that local laws are respected and local sensibilities – to the extent possible – are accounted for.’

    Key clients

    Bilfinger SE

    Christopher Worrall

    Citigroup

    UniCredit S.p.A.

    GlaxoSmithKline

    Bank of America Merrill Lynch

    BNP Paribas

    PetroChina International

    Valeo Group

    RELX Group

    Medtronic

    The Bank of Montreal

    Bell Helicopter

    Brodie Shaw Thomson

    Zuercher Kantonalbank

    Felix Brizuela

    VORAGO Technologies

    Wells Fargo & Company

    Morgan Stanley

    Former CFO of Logitech

    Rubycon

    Softbank Group Corp.

    Former Chief Executive Officer of PG&E Corp.

    Former Chair of Audit Committee of Valeant Pharmaceuticals

    Christopher Worrall

    Brodie Shaw Thomson

    Felix Brizuela

    Former CFO of Logitech

    Former Chief Executive Officer of PG&E Corp.

    Former Chair of Audit Committee of Valeant Pharmaceuticals

    Work highlights

    • Conducted a high-profile trial for Christopher Worrall, who was charged with conversion of government property and insider trading.
    • Represented Citigroup in an internal investigation and with respect to US regulatory and enforcement inquiries concerning a personal security unit within Citigroup’s Mexican unit, Banamex.
    • Represented Italian banking conglomerate UniCredit SpA in connection with a multi-year sanctions investigation and coordinated a $1.3bn global settlement with multiple US authorities.

    Dispute resolution > Financial services litigation Tier 3

    Shearman & Sterling LLP‘s financial services litigation practice is highly active in a range of disputes in this space, with a particular focus on antitrust and securities class actions as well as investigations by FINRA and government regulators. The team’s work in securities disputes includes defending banks facing claims for their roles as the underwriters of IPOs and debt offerings. The practice additionally acts for major banks in antitrust actions involving allegations of manipulation of markets in securities as well as rates. In the governmental relations space, the practice handles investigations and prosecutions for banks, broker-dealers and individuals in the financial services sector, providing counsel to clients on investigations by FINRA, SEC, CFTC, and DOJ. The team is led by Adam Hakki and Richard Schwed in New York alongside Patrick Robbins in San Francisco. Hakki handles the firm’s antitrust cases and is also active on investigations, while Daniel Lewis focuses on securities class actions; Grace Lee is another name to note in this area, with both lawyers also based in New York.

    Practice head(s):

    Adam Hakki; Richard Schwed; Patrick Robbins

    Other key lawyers:

    Daniel Lewis; Grace Lee; Agnès Dunogué

    Key clients

    Bank of America Merrill Lynch

    Barclays

    Intercontinental Exchange, Inc.

    Synchrony Financial

    Mizuho

    Credit Suisse

    Evercore

    Cantor Fitzgerald

    BNP Paribas

    Goldman Sachs

    Jefferies

    Citigroup

    Allen & Co., LLC,

    William Blair & Company LLC

    UBS Securities LLC

    Cowen and Company LLC

    UniCredit S.p.A.

    Zuercher Kantonalbank

    JMP Securities LLC

    Morgan Stanley

    TD Securities

    Morgan Stanley

    Work highlights

    • Representing purchasers of the ProSharesShort VIX Short-Term Futures ETF in a securities class action following the February 2018 collapse of the VIX.
    • Represented Barclays, Mizuho, Morgan Stanley, TD Securities, and other underwriters in a case brought by purchasers of Synchrony Financial’s (“Synchrony”) December 1,2017 $1 billion offering of 3.950% senior notes.
    • Represented the underwriters of the IPO of Domo, Inc. in a putative securities class action in Utah state court on the basis of a Federal Forum Provision.

    Finance > Commercial lending

    Primarily operating from New York, the ‘responsive, internationally oriented, competent‘ team at Shearman & Sterling LLP provides advice on leveraged and investment grade financing to a range of clients, though the firm most frequently represents investment banks and alternative lenders. As part of an internationally renowned firm, the team frequently collaborates with peers in the London and Toronto offices to advise on cross-border and multicurrency transactions. Practice heads Maura O’Sullivan  and Alan Rockwell both have strong relationships with some of the biggest financial institutions, representing clients such as Credit Suisse and Bank of America as lead arrangers, administrative agents and underwriters. The practice has been looking to expand following a number of departures in recent years, as can be seen by the arrival of Heather Waters Borthwick in January 2021 and Daniel Tristan in April 2021 from White & Case LLP  and Baker Botts L.L.P. respectively.

    Practice head(s):

    Maura O’Sullivan; Alan Rockwell

    Other key lawyers:

    Michael Chernick; Gus Atiyah; Jonathan DeSantis; Andrew Tsang; Arshia Asif; Mike Steinberg; Heather Waters Borthwick; Daniel Tristan

    Testimonials

    ‘JD DeSantis, Maura O’Sullivan and Alan Rockwell are all top notch – with extensive experience and are practical and commercial, and have a great balance of raising the issues but having a clear view of what is material and what is not.’

    ‘The team is incredibly diligent and thoughtful. ability to tackle complex situation on a timely basis.’

    ‘Michael Chernick, Andrew Tsang and Arshia Asif  were the attorneys we interacted with. Close coordination w/ banks and ability to tackle enormous amount of work under short timeline was the differentiating factors vs. some of the other firms we worked with.’

    ‘Michael Steinberg is a capable lawyer with subject matter expertise who works tirelessly and is very hands on.’

    ‘The team is very knowledgeable, works efficiently, and able to execute complex transactions with tight deadlines.’

    ‘The team is very responsive, internationally oriented, competent, and a pleasure to work with.’

    ‘Solid and good sized team that is able to handle a broad spectrum of financings.’

    ‘Alan Rockwell and Michael Chernick are always available and manage lenders well.’

    Key clients

    Bank of America

    JPMorgan

    Morgan Stanley

    Jefferies

    Goldman Sachs

    UBS

    Barclays

    Credit Suisse

    Macquarie Capital

    Nomura Securities

    Truist

    Tikehau Investment Management

    Bank of America

    JPMorgan

    Morgan Stanley

    Jefferies

    Goldman Sachs

    UBS

    Barclays

    Credit Suisse

    Macquarie Capital

    Nomura Securities

    Truist

    Tikehau Investment Management

    Work highlights

    • Advised GLAS USA LLC and GLAS Trust Corporation Limited on a £2.5bn financing for Albion Financing LLC and Albion Financing 3 S.à r.l.
    • Advised Goldman Sachs Bank USA on a $425bn financing for Cincinnati Bell Inc. consisting of a $150m term loan B facility and $275m revolving credit facility.
    • Advised Jefferies Finance on a $2.12bn acquisition financing for Mavis Tire Express Services, consisting of a $1.92bn first-lien term loan facility and a $200m revolving credit facility

    Finance > Structured finance: derivatives and structured products Tier 3

    Shearman & Sterling LLP focuses on complex cross-border derivatives and structured products mandates, often acting on behalf of US and global financial institutions, corporations, and hedge and private equity funds. Its broad range of work extends to niche specialisms such as crypto-asset derivatives, advising banks on trading issues and custody concerning crypto and digital assets, and advising fintech corporates on regulatory compliance. Based in New York, derivatives team leader Donna Parisi is a key asset regarding derivatives, securitization, and structured products, with particular strengths in the options market and exchange-traded futures. She works alongside Geoffrey Goldman and Kerri Durso, both experts in structuring and documenting over-the-counter derivatives.

    Practice head(s):

    Donna Parisi

    Other key lawyers:

    Geoffrey Goldman; Azam Aziz; Bjorn Bjerke; Kerri Durso; Christian Pugaczewski

    Key clients

    Citigroup

    Morgan Stanley

    Intercontinental Exchange, Inc. and affiliates (ICE)

    Maverick Capital

    Banco Bilbao Vizcaya Argentaria SA; Banco Santander SA; HSBC Holdings Plc; JPMorgan Chase & Co.

    Bank of America Merrill Lynch

    Liberty Global

    Wells Fargo

    Work highlights

    • Representing Intercontinental Exchange, Inc. (ICE) and its subsidiaries (including ICE Clear Europe, ICE Clear Credit, ICE Clear US and ICE Futures US) in a wide range of matters, including the ongoing development of their swap and futures clearinghouses, trading facilities and related businesses.
    • Advised financial institutions on developing “playbooks” for scenarios that may occur if a derivatives trading counterparty fails to perform certain obligations under one or more trading agreements and/or is at risk of insolvency or is initiating bankruptcy proceedings.
    • Regularly represented financial institutions, investment banks, corporate issuers, holders of large equity stakes and hedge funds in connection with highly complex equity derivatives transactions, including forward convertible note hedges, total return swaps, equity collars and prepaid forward transactions.

    Industry focus > Energy: renewable/alternative power Tier 3

    The global project development and finance group at Shearman & Sterling LLP is frequently engaged in complex transactions in the renewable energy sector. Providing advice on wind, solar, hydro and other alternative power projects, including green hydrogen and electric vehicles, the practice is skilled at representing sponsors, developers, investors, financial institutions and infrastructure funds in project diligence, financing and M&A throughout the Americas. The department is led from New York by project finance expert Gregory Tan and Robert Freedman, who has combined experience in project finance and development, restructuring of renewable assets and sector-related M&A. Alexandro Padrés , who also sits in New York, has a strong track record of project finance in clean energy projects across Latin America. Augusto Ruiloba in the same office is another practitioner to note for this type of work.

    Practice head(s):

    Gregory Tan; Robert Freedman

    Other key lawyers:

    Alexandro Padrés; Augusto Ruiloba

    Key clients

    MUFG Bank

    Northwestern Mutual

    DNB Bank

    BNP Paribas

    ING Capital

    Mizuho Holdings Inc.

    CIT Bank

    Engie Energía Chile S.A.

    OMERS Infrastructure

    Scotia Capital, Inc.

    Work highlights

    • Advised OMERS Infrastructure on its agreement with a fund managed by Ares Management Corporation to acquire 100% of Navisun LLC, an independent distributed generation solar power producer.
    • Advised Mizuho Bank and KeyBanc, as coordinating lead arrangers, and CoBank, ACB and Silicon Valley Bank, as joint lead arrangers on the credit facilities to Kapolei Energy Storage as borrower, to develop, construct, finance and operate an approximately 185 MW/565 MW-hr battery energy storage facility, located in Kapolei, Hawaii.
    • Advised DNB Bank ASA, as Administrative Agent, the Mandated Lead Arrangers, Lenders and Issuing Banks, the Offshore Collateral Agent and Offshore Depositary, and the VAT Lender in connection with the approximately $170m financing of a wind project (the “Copihue Portfolio”) with a total installed capacity of 148.5 MW in the Republic of Chile.

    Industry focus > Energy transactions: electric power Tier 3

    Providing ‘insight, thoughtful structure and careful diligence’, Shearman & Sterling LLP advises a range of clients including public and private power companies and utilities, commercial banks and investment firms in the conventional power sector. The practice stands out in the finance and project finance areas, and is recommended as ‘clearly amongst the top teams in the industry for advising lenders in conventional power project finance deals’. Project finance expert Gregory Tan co-leads the New York-based team with Robert Freedman, who specializes in conventional and renewable energy projects.

    Practice head(s):

    Gregory Tan; Robert Freedman

    Testimonials

    The S&S team is clearly amongst the top teams in the industry for advising lenders in conventional power project finance deals. They provide insight, thoughtful structure and careful diligence all without the anxiety that drives certain non-Shearman transactions.

    Rob Freedman is super diligent in his efforts, thoughtful in delineating between true risks and minor concerns, and his calm demeanor tends to pervade the entire team and transaction.

    Key clients

    ING

    Caixabank

    MUFG Bank

    Sumitomo Mitsui Banking Corporation

    BNP Paribas

    Credit Agricole

    Royal Bank of Canada

    Natixis

    Citigroup

    Société Générale

    Work highlights

    • Advised the lenders, and BNP Paribas as administrative agent, on a term facility and revolving facility for the financing of the 224MW (summer) natural gas-fired combined-cycle Hog Bayou facility located in Mobile, Alabama.
    • Advised National Bank of Canada, National Bank Financial, East West Bank and NY Green Bank, as lenders on a senior secured term loan facility and revolving credit facility for RED-Rochester.
    • Advised the note purchasers and bank lenders on an approximately $580m senior secured note issuance and $205m senior secured credit facility for Georgetown Energy Partners.

    M&A/corporate and commercial > M&A: large deals ($1bn+) Tier 3

    Shearman & Sterling LLP is acclaimed for its ‘excellent expertise in complex, multi-jurisdictional transactions’. George Casey, a ‘truly outstanding attorney’, oversees an array of public company acquisitions, strategic investments, joint ventures and carve-out transactions; he co-leads the practice jointly with Scott Petepiece, whose fields of expertise encompass contested transactions, proxy contests and topping bids. The duo operate from New York which is also the home office of Clare O’Brien, whos practice has a particular emphasis on the healthcare, industrials and financial services sectors.

    Practice head(s):

    George Casey; Scott Petepiece

    Other key lawyers:

    Clare O’Brien; Daniel Mitz

    Testimonials

    ‘The practice provides excellent expertise on complex multi-jurisdictional transactions. The team provides timely guidance regarding high-pressure, fast paced transactions. The team appropriately staffs transactions and efficiently manages both deliverables and communications.’

    ‘The team is very talented, internationally orientated, and incredibly approachable. George Casey is a truly outstanding attorney, manager, and leader, who provides cutting edge expertise on complex multi-jurisdictional transactions that he delivers thoughtfully, timely, and professionally.’

    ‘The team is incredibly collaborative and hard working. One of the most professional teams I’ve had the pleasure of working with in my entire career.’

    ‘George Casey is pragmatic, calm in stressful situations, and incredibly knowledgeable.’

    Key clients

    American Water Works Company

    Ardagh Group

    ViacomCBS

    TELUS International

    Hitachi

    Raytheon Technologies

    Dow Inc.

    CVS Health Corp

    Fenway Sports Group

    SAP SE

    Intercontinental Exchange

    Texas Instruments

    Liberty Global

    Sasol

    Celanese

    General Electric Company

    Altice

    LANXESS

    NIC Inc.

    Citrix Systems

    Real estate > Real estate finance Tier 3

    Antitrust > Cartel Tier 4

    Shearman & Sterling LLP represents clients in international cartel investigations across a number of targeted sectors, including high-profile investigations by the European Commission and DOJ in areas such as interbank rates, auto parts and capacitors manufacturing. The practice represents international companies as well as individuals accused of cartel activity in their roles as executives, and offers significant strength within the financial services sector. The team is led by Washington DC-based David Higbee and Djordje Petkoski, who represent clients in cartel proceedings as well as handling cross-border compliance investigations, alongside San Francisco’s Patrick Robbins, a specialist in individual criminal cartel defense litigation with a successful record in securing acquittals for clients.

    Practice head(s):

    David Higbee; Djordje Petkoski; Patrick Robbins

    Testimonials

    ‘The team is very thoughtful. Their advice includes strategic points of view.’

    Key clients

    Bank of America

    BNP Paribas

    Morgan Stanley

    Rubycon

    SS&C

    Dispute resolution > International arbitration Tier 4

    The team at Shearman & Sterling LLP sets itself apart through its 'deep knowledge' and 'practical approach', according to some. Notching up a geographically broad case list, which includes matters involving the US, Latin America and the Middle East, the New York-based group is well-equipped to handle a range of construction disputes, commercial arbitrations and investor-state cases. In Washington DC, the 'proactive and commercial' Christopher Ryan is a key contact for private and state clients looking for support on construction, energy and mining disputes. In New York, Henry Weisburg has a focus on cross-border financial disputes.

    Testimonials

    ‘Deep knowledge, practical approach. The firm has offered briefings on key industry trends driven by political changes – this kind of value-add is appreciated.’

    ‘Christopher Ryan is responsive, proactive and commercial.’

    Key clients

    Stoneway Capital Corporation

    Republic of Panama

    ENKA Insaat ve Sanayi A.Ş.

    Nevada Copper Incorporated

    Work highlights

    • Representing Stoneway Capital Corporation, and its Latin American subsidiary, in an ICC arbitration in New York initiated by a Latin American construction contractor arising from an EPC contract for the construction of a power plant.
    • Representing Turkish contractor ENKA Insaat ve Sanayi in an ICC arbitration in London against certain entities within Chubb, related to claims pursued by Chubb in the Russian courts.
    • Representing the Republic of Panama in treaty claims brought by Omega Engineering and Mr Oscar Rivera arising from the alleged expropriation of multiple infrastructure construction contracts.

    Investment fund formation and management > Mutual/registered/exchange-traded funds Tier 4

    Shearman & Sterling LLP‘s New York-based US offering works seamlessly with team members in Hong Kong, Tokyo and the UK on both cross-border and locally based matters, including registration, exemption and compliance of fund and advisers; fund and adviser mergers and acquisitions; and structurally novel products to meet market needs. Paul Schreiber, who is one of the original founders of the firm’s investment funds practice, and senior counsel Thomas Majewski are the key contacts – their client base spans traditional mutual funds, innovative registered investment companies designed around complex investment programs, and specialized vehicles such as SPACs and BDCs. The group is noted by one client for being ‘very creative in constructing solutions‘.

    Practice head(s):

    Paul Schreiber

    Other key lawyers:

    Testimonials

    ‘Expert in 40 Act rules and very creative in constructing solutions.’

    ‘Friendly and available.’

    ‘Extremely knowledgeable, accessible, user friendly, lots of experience in all situations, provide multiple points of view and alternatives, great to work with.’

     

    Key clients

    ALPS Advisors

    Miller/Howard Funds (funds counsel and independent trustees counsel)

    StoneCastle Financial Corp. (advised by Arrowmark Partners)

    Work highlights

    • Represented Miller/Howard Funds and its directors on its IPO and continue to advise the High Income Equity Fund and its board on all legal, regulatory and compliance matters.
    • Advising the independent directors of StoneCastle Financial Corporation – a NYSE-listed closed-end investment company – on various issues, including ArrowMark Partners’ acquisition of StoneCastle Asset Management – the investment adviser to the company.

    Real estate Tier 4

    Shearman & Sterling LLP is highlighted for its experience representing landlords and tenants in leasing transactions, including headquarters office leases and ground leases, sale-leasebacks and other structured transactions. It also has strong capabilities in acquisitions, dispositions and joint ventures. Practice head Malcolm Montgomery is primarily known for his real estate finance work. Lisa Brill is a key contact for institutional investors, lenders and other market players in the investment, ownership and development of real estate. Both lawyers are based in New York.

    Practice head(s):

    Malcolm Montgomery

    Other key lawyers:

    Lisa Brill

    Testimonials

    ‘Deep bench of hard-working, smart talent. Great commercial attorneys.’

    ‘Very commercial, practical, outcomes-oriented partner. Hard-working, smart and pragmatic.’

    ‘Shearman and Sterling acts as a dream and I find a pretty seamless approach from real estate to tax to ERISA etc. It always feels like a firm rather than a collection of independent contractors. This is very much a service oriented form where the client comes first. The attorneys I rely on are always available and responsive.’

    ‘Lisa Brill is a terrific real estate lawyer and advisor. Lisa is completely dedicated to her clients and provides exemplary service.’

    Key clients

    Citibank, N.A.

    Deutsche Bank

    Landesbank Baden-Württemberg

    Shorenstein Properties

    GTIS Partners

    Metropolitan Life Insurance Company

    SL Green Realty Corp.

    Credit Suisse

    Strategic Capital

    Wafra Partners LLC

    Protective Life Insurance Company

    Medici Land Governance

    Work highlights

    • Represented Citibank, as administrative agent, in connection with $2bn in credit facilities for Sun Communities Operating Limited Partnership, with an accordion feature allowing the facilities to be increased by $1 billion and the option to treat the additional funds as an incremental term loan.
    • Represented Deutsche Bank AG New York Branch as administrative agent in connection with the restructuring of $1.015bn in syndicated senior revolving credit and term loan facilities for Summit Hotel Properties.

    Tax > US taxes: contentious Tier 4

    With multidisciplinary experience in areas such as transfer pricing disputes, tax accounting methods, and tax treatment of financial products, Shearman & Sterling LLP represents US and foreign clients before the IRS, US Tax Court, and federal courts. The team is noted for representing clients in front of congressional committees on sensitive criminal tax investigations and tax matters. In Washington DC, Kristen Garry covers tax controversies involving IRS audits and administrative appeals, as well as tax litigation, while counsel Robert Rudnick focuses on tax controversy at the administrative and litigation levels, often acting for clients in the telecoms and hospitality sectors. Richard Gagnon represents both international and US clients before the IRS and DOJ, as well as in federal courts.

    Practice head(s):

    Michael Shulman; Larry Crouch

    Key clients

    Estate of Andrew J. McKelvey, the founder of Monster.com

    Work highlights

    • Represented the Estate of Andrew J. McKelvey, the founder of Monster.com in a case of first impression, in the U.S. Tax Court.

    Finance > Restructuring (including bankruptcy): corporate Tier 5

    Shearman & Sterling LLP has long-standing experience advising clients on an international level, regularly overseeing cross-border transactions in Latin America, Europe and Asia with aspects of US law. Pillars of focus include the US Bankruptcy Code, the Securities Investor Protection Act, the Orderly Liquidation Authority and state insurance insolvency law. The team is led by three partners: Luckey McDowell is well versed in restructurings, and was involved in the Southland Royalty Chapter 11 bankruptcy. Joel Moss advises banks, ad hoc noteholder and lender groups, direct lenders, trading desks and distressed investment funds. Mark Shapiro is renowned for his leadership in Chapter 11 and cross border restructurings. McDowell is based in Dallas; Moss splits his time between both San Francisco and New York whilst Shapiro is based in New York.

    Practice head(s):

    Luckey McDowell; Joel Moss; Mark Shapiro

    Other key lawyers:

    Fredric Sosnick; Ian Roberts; Ned Schodek

    Testimonials

    ‘The Shearman team had the expertise, knowledge, and professionalism to advise my client towards a difficult, complex, but best-case outcome. Where other counsel failed to inspire confidence in their recommendations, the Shearman team came across as subject-matter experts.’

    ‘Mark Shapiro has a multi-faceted background at law firms and in industry that is uncommon. The different viewpoints are readily apparent in the recommendations that he provides. He seems to better understand the client’s position better than most.’

    Ian Roberts is a well-rounded attorney with broad knowledge that he can access to form creative solutions. He left no stone unturned and was comfortable interacting with a large legal team.’

    ‘Ned Schodek is easy to deal with and excellent at keeping clients informed as the engagement progresses. He has excellent working knowledge of offshore jurisdictions and that makes him a valued member of the team on cross border cases.’

    ‘Ian Roberts is an excellent lawyer and has fantastic client-communication skills. Fabulous!’

    Key clients

    Southland Royalty Liquidation Trust

    Citibank, N.A.

    Bank of America

    Nuverra Environmental Solutions

    Barclays

    Ad Hoc Group of Windstream Midwest Noteholders

    Ad Hoc Group of Grupo Posadas Noteholders

    GLAS

    Ankura Trust Company

    Brazos Electric Power Cooperative

    NRG Retail LLC

    Southland Royalty Company LLC

    NextEra

    DJH Minerals

    Pacific Gas & Energy

    Magris Resources Canada

    Chesapeake Energy Corp.

    Work highlights

    • Represented Citibank, N.A., in its capacity as administrative agent and lender under a revolving credit agreement in connection with the chapter 11 bankruptcy cases of Valaris plc and certain of its subsidiaries.
    • Represented Southland as the debtor, in its chapter 11 restructuring and sale to an affiliate of the Williams Companies.
    • Represented a private equity investor. and certain Canadian and BVI-based holding companies in chapter 11 proceedings pending in the US Bankruptcy Court, Southern District of New York.

    Investment fund formation and management > Private equity funds (including venture capital) Tier 5

    Finance > Financial services regulation Tier 6

    As one of the first law firms to establish a presence in key global markets, Shearman & Sterling LLP has continued to innovatively serve clients wherever they do business, for more than 140 years. From major financial centers to emerging markets, the firm has the reach, depth and global perspective necessary to advise clients on their most complex worldwide business needs.

    Shearman & Sterling is organized as a single, integrated partnership with approximately 850 lawyers in 25 offices located throughout the Americas, Asia, Europe and the Middle East, coordinating knowledge and experience that goes beyond our physical offices. The firm’s lawyers come from some 80 countries and speak more than 70 languages. In addition, nearly half of our lawyers practice outside the United States. Clients rely on the vast Shearman & Sterling global network to help accomplish their business goals, whether they are complex cross-border transactions or local deals.

    Harnessing the intellectual strength and deep experience of its lawyers across the firm’s global footprint, Shearman & Sterling represents many of the world’s leading corporations, financial institutions, emerging growth companies, governments and state-owned enterprises, often working on ground-breaking, precedent-setting matters. Those clients, in turn, continue to choose the firm for its distinctive ability to leverage the knowledge and judgment of one of the world’s largest and most accomplished cross-border legal teams – a team ideally situated to counsel clients in this dynamic 21st-century global economy.

    Shearman & Sterling collaborates across practices and jurisdictions to provide the highest quality legal services, bringing its collective experience to bear on issues facing clients. The firm’s areas of practice include antitrust and competition, capital markets, emerging growth, executive compensation and employee benefits, finance, financial institutions advisory and financial regulatory, financial restructuring and insolvency, intellectual property transactions, international arbitration, international trade and investment, investment funds, litigation, mergers and acquisitions, privacy and data security, private capital, project development and finance, public international law, real estate and tax.

    For further information, please visit Shearman & Sterling’s website at www.shearman.com

    DepartmentNameEmailTelephone
    Antitrust/competition Matthew Readings
    Antitrust/competition David Higbee
    Capital markets – the Americas Jonathan DeSantis
    Compensation, governance and ERISA Doreen Lilienfeld
    Corporate governance Stephen Giove
    Corporate governance Doreen Lilienfeld
    Corporate governance Clare O'Brien
    Derivatives and structured products Donna Parisi
    Derivatives and structured products Patrick Clancy
    Emerging growth Matt Lyons
    Emerging growth Carmelo Gordian
    Emerging growth Alan Bickerstaff
    Finance – US Maura O'Sullivan
    Finance – US Ronan Wickes
    Financial institutions advisory and financial regulatory Barney Reynolds
    Financial restructuring and insolvency Fredric Sosnick
    Intellectual property transactions Jordan Altman
    International arbitration Emmanuel Gaillard
    International trade and investment Robert LaRussa
    Investment funds Laura Friedrich
    Litigation Adam Hakki
    Mergers and acquisitions George Casey
    Mergers and acquisitions Scott Petepiece
    Privacy and data protection Jeewon Kim Serrato
    Private capital Scott Petepiece
    Private capital Gus Atiyah
    Private capital Joshua Thompson
    Private capital Brien Wassner
    Project development and finance Gregory Tan
    Public international law Yas Banifatemi
    Real estate Malcolm Montgomery
    Sustainable development Robert Freedman
    Sustainable development Patricia Hammes
    Tax Laurence Crouch
    Tax Michael Shulman
    PhotoNamePositionProfile
    Alan Bickerstaff photoMr Alan BickerstaffAlan represents entrepreneurs and public and private emerging growth companies on private…
    Coleson Bruce photoMr Coleson BruceColeson’s practice focuses on complex M&A and commercial transactions in the energy…
    J. Russel Denton photoMr J. Russel DentonRuss advises clients in mergers and acquisitions, venture capital and private equity…
    Brian Dillavou photoMr Brian DillavouBrian represents startups and emerging growth companies from incorporation and early stage…
    Carmelo Gordian photoMr Carmelo GordianCarmelo focuses on life science, software, telecommunications, semiconductor and energy sector companies.…
    J. Matthew Lyons photoMr J. Matthew LyonsMatt Lyons is Head of the Austin Office of Shearman & Sterling…
    Senior Partner : David Beveridge
    Global Managing Partners : George Casey
    Global Managing Partners : Adam Hakki
    Other Offices : Abu Dhabi
    Other Offices : Beijing
    Other Offices : Brussels
    Other Offices : Dubai
    Other Offices : Frankfurt
    Other Offices : Hong Kong
    Other Offices : London
    Other Offices : Milan
    Other Offices : Paris
    Other Offices : Rome
    Other Offices : São Paulo
    Other Offices : Saudi Arabia
    Other Offices : Shanghai
    Other Offices : Singapore
    Other Offices : Tokyo
    Other Offices : Toronto
    Number of Partners (US) : 119
    Number of Other Fee-Earners (US) : 388
    Other Offices : Munich

    Shearman & Sterling has been a leading international law firm in Latin America and the Caribbean for more than a century, and has played an active role in the economic development of the region.

    Shearman & Sterling’s Latin America practice is distinguished by its deep knowledge and experience across countries; passion and commitment to the economic and social well-being of Latin America; understanding of the different cultures and the legal, political and economic drivers within the region; and remarkable resourcefulness and ability to think out of the box, making it an unrivalled problem solver.

    The firm’s Latin America practice group includes more than 60 attorneys, including 40 partners and counsel situated in North America, Europe, Asia and Latin America, who work as a cohesive integrated team. Its attorneys are not only fully conversant in Spanish and Portuguese but also have extensive experience with the business environment in Latin America and are knowledgeable about laws and regulations throughout the region.

    Its intimate knowledge of local markets, coupled with the broad capabilities of a truly international firm, have made it the law firm of choice for companies, financial institutions, governments, governmental entities and multilateral agencies.

    Its team of lawyers assists clients throughout the region with their legal needs, with an emphasis on: antitrust; bank finance; capital markets; derivatives; financial regulatory; international arbitration; investment funds; litigation; mergers and acquisitions; project development and finance; real estate; and tax.

    Opened in 2004, the Sao Paulo office is one of the most well-established foreign law presences in Brazil. The Sao Paulo lawyers work closely with colleagues around the world to provide clients with world-class legal services.

    DepartmentNameEmailTelephone
    Antitrust Jessica K Delbaum
    Investment funds Laura S Friedrich
    Investment funds Sean Finely
    Capital markets and M&A Antonia E Stolper
    Capital markets and M&A Stuart Fleischmann
    Capital markets and M&A Manuel Orillac
    Capital markets and M&A Jeremy Kutner
    Capital markets and M&A George Karafotias
    Capital markets and M&A Rory O'Halloran
    Capital markets and M&A Jonathan Kellner
    Capital markets and M&A Clare O'Brien
    Capital markets and M&A Robert Ellison
    Capital markets and M&A George Casey
    Capital markets and M&A Grissel Mercado
    Financial institutions advisory and financial regulatory Russell D Sacks
    Financial institutions advisory and financial regulatory Thomas Donegan
    International arbitration Christopher M Ryan
    International arbitration Henry Weisburg
    International arbitration Jonathan Greenblatt
    International arbitration Ximena Herrera-Bernal
    Litigation Philip E Urofsky
    Litigation Jerome Fortinsky
    Litigation Stephen Fishbein
    Litigation John Nathanson
    Litigation Brian Burke
    Bank finance Denise M Grant
    Project development and finance Gregory Tan
    Project development and finance Cynthia Urda Kassis
    Project development and finance Robert Freedman
    Project development and finance Howard Steinberg
    Project development and finance Alexandro Padres
    Real estate Malcolm K Montgomery
    Real estate Lisa Brill

    Shearman & Sterling represents many of the world’s leading corporations and major financial institutions, as well as emerging growth companies, governments and state-owned enterprises, often working on ground-breaking, precedent-setting matters. With a deep understanding of their clients’ businesses and the industries they operate in, the firm’s work is driven by their clients’ need for outstanding legal and commercial advice.

    Shearman & Sterling is organized as a single, integrated partnership with approximately 900 lawyers in 23 offices located throughout the Americas, Asia, Europe and the Middle East. The firm’s lawyers come from some 80 countries and speak more than 60 languages. Clients rely on the vast Shearman & Sterling global network to help accomplish their business goals, whether they are complex cross-border transactions or local deals.

    The firm’s areas of practice include antitrust; capital markets; compensation, governance and  ERISA; derivatives and structured products; emerging growth; finance; financial institutions advisory and financial regulatory; financial restructuring and insolvency; intellectual property transactions; international arbitration; investment funds; litigation; mergers and acquisitions; privacy and data protection; private client; project development and finance, public international law; real estate; and tax.

    For further information, please visit Shearman & Sterling’s website at www.shearman.com.

    DepartmentNameEmailTelephone
    Antitrust David Higbee
    Antitrust Matthew Readings
    Capital Markets JD DeSantis
    Compensation, Governance & ERISA Doreen Lilienfeld
    Derivatives & Structured Products Azam Aziz
    Derivatives & Structured Products Donna Parisi
    Emerging Growth J. Matthew Lyons
    Finance Maura O'Sullivan
    Financial Institutions Advisory & Financial Regulatory Barney Reynolds
    Financial Restructuring & Insolvency Fredric Sosnick
    Fintech Donna Parisi
    Intellectual Property Transactions Jordan Altman
    International Arbitration Emmanuel Gaillard
    Investment Funds Laura Friedrich
    Litigation Adam Hakki
    Litigation Patrick Robbins
    Litigation Richard Schwed
    Mergers & Acquisitions George Casey
    Mergers & Acquisitions Scott Petepiece
    Privacy & Data Protection Emma Maconick
    Private Client C. Jones Perry
    Private Client Anna Salek
    Project Development & Finance Gregory Tan
    Public International Law Yas Banifatemi
    Real Estate Malcolm Montgomery
    Tax Michael Shulman
    Number of Partners : Approximately 220
    Number of Lawyers : Approximately 900