Partner Donna Parisi, the Global Head of Financial Services and FinTech at Shearman & Sterling, will moderate an upcoming panel discussion hosted by NYC Fintech Women, on January 21 at 5:30 ET pm.

Shearman & Sterling advised software company Citrix Systems (NASDAQ: CTXS) in its definitive agreement to acquire Wrike, Inc., a portfolio company of private equity firm Vista Equity Partners, for $2.25 billion in cash.

Global law firm Shearman & Sterling today announces the appointment of Heather Waters Borthwick as a Leveraged Finance partner in New York.

Partner Adam Schwartz (Washington, D.C.-Litigation) participated in a webinar titled, “How to Effectively Conduct an Internal Investigation: Key Considerations During a Pandemic” on January 20, 2021 from 3:00–4:00 pm ET.

On January 7, 2021, the Internal Revenue Service (the IRS) and the U.S. Department of the Treasury (“Treasury”) issued final regulations (T.D. 9945) addressing circumstances under which net long-term gains will be recharacterized as short-term capital gains with respect to certain partnership interests (the “Final Regulations”). The Final Regulations provide guidance under Section 1061 of the Internal Revenue Code (the “Code”)^[1] and finalize certain provisions of the proposed regulations (REG-107213-18) issued on July 31, 2020 (the “Proposed Regulations”), as summarized in our previous client publication, “IRS Proposes Carried Interest Rules Recharacterizing Certain Capital Gain in Connection with Profits Interests.”

In a significant test case brought by the U.K.’s Financial Conduct Authority, the Supreme Court confirms business interruption insurance coverage for losses arising from COVID-19.

Following many months of consultation, on January 25, 2021, ISDA’s IBOR Fallbacks Protocol and related Supplement to the 2006 ISDA Definitions, which together provide fallbacks for LIBOR and other interbank offered rates (IBORs), will take effect. Pursuant to Supplement number 70 to the 2006 ISDA Definitions (the Supplement), all transactions incorporating the 2006 ISDA Definitions that are entered into on or after this date will incorporate the new IBOR fallbacks, unless the parties specifically exclude them. The ISDA IBOR Fallbacks Protocol (the Protocol) will incorporate the new IBOR fallbacks into existing (legacy) derivatives agreements between adhering parties.

Shearman & Sterling represented Seazen Group Limited in connection with its offering of $300 million aggregate principal amount of 4.45% senior notes due 2025.

Global Managing Partner George Casey authored an article titled “M&A: Looking Back And Looking Forward.”

Shearman & Sterling advised issuer Itaú Unibanco Holding S.A., acting through its Grand Cayman branch, in connection with the issuance of its US$500 million 3.875 percent subordinated Tier 2 notes due 2031 under its Global MTN Programme.