Shearman & Sterling Wins Key Award for Legal Expertise at FT Asia-Pacific Innovative Lawyers Awards 2017
Shearman & Sterling received a prestigious award for Legal Expertise at the FT Asia-Pacific Innovative Lawyers Awards on June 1, 2017. The firm’s groundbreaking matter – the US$4.3 billion Central Java independent power project (IPP) – was recognized for innovation, specifically for “managing complexity and scale.” The firm’s role advising on two other precedent-setting transactions (LRT 1 Project and Phoenix Healthcare) was also acknowledged and ranked by the FT:
- “Standout”: Central Java 2,000 MW Greenfield Coal-Fired IPP. Partners Bill McCormack, Ben Shorten (both Singapore-Project Development & Finance) and Etienne Gelencsér (Tokyo-Project Development & Finance) advised on the development and financing of the Central Java IPP, the first under Indonesia’s new public-private partnership scheme. The groundbreaking project was recognized by the Financial Times and reported in its featured article “Deals Designed to Keep the Lights on in Emerging Markets,” which included McCormack’s insights on new deal structures and energy initiatives in Indonesia.
- “Standout”: Light Rail Transit 1 Cavite Extension Project. Partner Bill McCormack advised Light Rail Manila Corporation on the development and financing of the Light Rail Transit 1 Cavite Extension project, a hugely complex deal and one of the first fully non-recourse public-private-partnership deals in the Philippines.
- “Commended”: Phoenix Healthcare’s Major Acquisition of China Resource Group. Partner Peter Chen (Hong Kong-Corporate) advised Phoenix Healthcare on its precedent-setting acquisition of certain hospital businesses of China Resources Healthcare Group.
“We are very pleased to be recognized for our work advising clients on some of Asia’s most exciting, challenging and groundbreaking transactions,” said Bill McCormack, Shearman & Sterling’s Asia Co-Managing Partner. “This award confirms the strength of our Asia practice and showcases how our innovative work distinguishes the service we provide. We are constantly looking to improve our service, to help clients anticipate, prepare for and respond to market changes, and meet the challenges ahead of them.”
The FT Asia-Pacific Innovative Lawyers Report 2017 recognizes the law firms behind the most transformational transactions in the region, the in-house legal teams that are adding the most value to business and the most innovative individuals in the industry.