Shearman And Sterling

Perspective

Inflation Reduction Act: Key Green and Blue Hydrogen and CCUS Provisions

August 12, 2022

The House U.S. Congress has passed, as of today, the Inflation Reduction Act (“IRA” or the “Act”), which is expected to be signed into law by President Joe Biden very soon. The IRA is one of the biggest investments in clean energy in history and a major step towards reducing the United States’ greenhouse gas emissions.

Perspective

Emergency Arbitration in Mainland China: A New Dawn?

August 11, 2022

Partner Emmanuel Jacomy (Singapore-International Arbitration) and Counsel Edward M. Taylor (Hong Kong-International Arbitration) co-authored an article for the July edition of Asian Dispute Review titled “Emergency Arbitration in Mainland China: A New Dawn?”.

Event

Legal Aspects of ESG Investment

August 11, 2022

Asia Regional Managing Partner and Head of Greater China Lorna Chen, partner Wanda Woo, counsels Hae-Ran Song and Anil Motwani joined a webinar titled “Legal Aspects of ESG Investment” co-hosted by Shearman & Sterling and Association of Corporate Counsel Hong Kong on August 11.

Perspective

US, EU And UK Increase Pressure on Russia with Further Sanctions

August 10, 2022

Since late February 2022, the United States, the European Union and its member states, the United Kingdom, and many others—including Japan, Australia, New Zealand, Taiwan and Canada—have imposed sweeping new sanctions on Russia in response to its invasion of Ukraine.

News

Hersha Hospitality Trust’s $500 Million Credit Facility

August 08, 2022

Shearman & Sterling advised Citibank as administrative agent in connection with Hersha Hospitality’s $500 million senior secured credit facility.

News

Agnès Dunogué Listed Among Benchmark Litigation’s ‘Top 250 Women in Litigation’

August 05, 2022

Partner Agnès Dunogué (New York-Litigation) has been named to Benchmark Litigation’s “Top 250 Women in Litigation” guide for the second consecutive year. 

Perspective

The Book Minimum Tax, Pillar 2 and Creditable Foreign Income Taxes

August 05, 2022

As discussed in our alert earlier this week, the recently announced proposed reconciliation package—the Inflation Reduction Act of 2022, H.R. 5376—would impose a new 15% minimum tax on the adjusted financial statement income of “applicable corporations” (the “Book Minimum Tax”). If enacted, the Book Minimum Tax would take effect for taxable years beginning after December 31, 2022, and apply to corporations (other than S corporations, RICs and REITs) that report average book profits over $1 billion over a three year testing period, determined on a group-wide basis.

News

PSP Investments’ AUD230 Million Senior Notes Offering

August 05, 2022

Shearman & Sterling advised RBC Europe Limited as agent in connection with PSP Capital’s U.S. Regulation S private placement of AUD230 million aggregate principal amount of 4.5663% Senior Notes due 2032.

News

PAI Partners and European Camping Group on the Acquisition of Vacanceselect

August 01, 2022

Shearman & Sterling advises PAI Partners and European Camping Group on the acquisition of Vacanceselect by European Camping Group from Permira.

Perspective

Damages Claims in the Competition Appeal Tribunal – Where Have We Come From And Where to Next?

August 01, 2022

Will 2022 be seen as the year in which the gates finally opened for damages claims in the Competition Appeal Tribunal (CAT)? If so, some might say it has been some time in the making. The CAT originally was best known as the forum for appealing decisions of the U.K.’s primary competition authority (the Competition and Markets Authority (CMA)). However, changes brought about by the Consumer Rights Act 2015 (CRA) enabled the CAT to hear a wider range of private damages claims.