Shearman & Sterling was recognized for being one of the top 10 most innovative international law firms in Asia at the Financial Times Asia-Pacific Innovative Lawyers Awards 2019, held in Hong Kong on May 2.

The firm also won a key award for “Managing Complexity and Scale” for advising Malaysian oil and gas company Petronas in connection with an $8 billion investment by Saudi Aramco in Petronas’ Refinery and Petrochemical Integrated Development (RAPID) Project in Johor State, Malaysia. The assignment was led by Asia Regional Managing Partner Bill McCormack and partner Ben Shorten (all Singapore-Project Development & Finance) and featured in the FT report on “How to construct a mega-deal in emerging markets.”

The firm was also recognized for its work in the following projects: 

• International Rivers Project – “Commended” in the Rule of Law/Access to Justice category. The firm advised nonprofit International Rivers on the legal framework that governs the Salween River in Myanmar and produced a report with recommendations to the state on how to protect and preserve the environment and local community rights. This work was also recognized by the Vance Center at the third annual Celebration of International Pro Bono Excellence in October 2018.  
• Operationalizing Legal Project Management – “Commended” in the Data, Knowledge and Intelligence category. The firm introduced a pricing model and matter management index to improve transparency and billing. Matters can be monitored on a dashboard to track spend in real time, enabling clients to better manage their legal budget.
• Eastern Indonesia Renewable Energy Project – “Commended” in the Accessing New Markets category. Partner Bill McCormack (Singapore-Project Development & Finance) and his team advised the Asian Development Bank, sole lender on the $215 million financing of the Eastern Indonesia Renewable Energy project, which combined four solar projects in Bali and Lombok with a larger wind project in Sulawesi. 

The FT Asia-Pacific Innovative Lawyers Awards and Report 2019 recognizes lawyers, law firms and in-house legal teams in the Asia-Pacific region that are at the forefront of innovation for clients and in their own businesses. This year’s report and awards drew on over 530 submissions from law firms, legal service providers and in-house legal teams.

View FT Asia-Pacific Innovative Lawyers Report 2019.