Shearman & Sterling’s exceptional work for clients has been recognized by Financial Times (FT) in the FT Asia-Pacific Innovative Lawyers Report 2016. The firm was ranked fifth in the list of the top 25 most innovative internationally headquartered law firms in Asia and scored the highest among the US-headquartered law firms. The firm also scored the highest for innovation in the Finance category.

In addition, Shearman & Sterling was “Highly Commended” in the Finance category for the Gulpur Hydro Power Project led by Bill McCormack, Singapore partner and Global Head of the firm’s Project Development & Finance Group. The transaction was acknowledged for addressing the gaps between Azad Jammu and Kashmir (“AJK”, part of Pakistan-administered Kashmir) law and Pakistan law on the financing of a hydropower project by four development finance institutions.

The firm was also “Commended” in the following categories:

• Corporate & Commercial – Tata Motors’ Global Rights Offering: Led by Asia Managing Partner Matthew Bersani, the firm advised the underwriters on the Tata Motors global rights offering in India and the US, aligning the regulatory requirements of both jurisdictions.
• Corporate & Commercial – IMAX China’s Hong Kong IPO Offering
• Finance – Reliance’s Formosa Bond Offering: Led by Deputy Asia Regional Managing Partner Kyungwon Lee, the firm advised underwriters on the first issuance of a Formosa bond (a bond issued in Taiwan but denominated in a currency other than the new Taiwan dollar) by an Indian company, Reliance Industries.
• Finance – Tenaga Generasi Limited Wind Power Project: Led by partner Bill McCormack, the firm advised a consortium of banks on the funding of a greenfield wind power plant in Pakistan under a new upfront tariff regime.

“We are honored that our work is recognized and acknowledged by this prestigious award,” said Matthew Bersani. “The rankings reflect our strength in our key practice areas in Asia and around the world. These are very well-deserved recognitions for the lawyers who worked on these market-leading transactions. ”

This year’s report and awards drew on over 400 individual submissions from 68 different law firms.  The Asia-Pacific rankings are available in the FT Asia-Pacific Innovative Lawyers Report 2016.