Shearman & Sterling LLP multinational law firm headquartered in New York City, United States.

Perspective

LIBOR Transition

Jul 13, 2020

Shearman & Sterling partners Mark Chorazak, Reena Agrawal Sahni, partner Patrick Clancy, and Bradley Ziff hosted a webinar discussion on current developments in the LIBOR Transition.

News

ADGM Wins Global Arbitration Review Award

Jul 13, 2020

Abu Dhabi Global Market (ADGM) won the 2020 Global Arbitration Review (GAR) award for “the jurisdiction that has made great progress.” In 2019, the Arbitration Guidelines were published (October), the ADGM court issued its first two arbitration-related decisions (October) and the Litigation Funding Rules applying both court and arbitral proceedings were enacted (April).

News

Kelli Sims Joins IEL Leadership Class

Jul 13, 2020

Associate Kelli Sims has been accepted into the Leadership Class of the Institute for Energy Law.

Perspective

Updated New York Order Maintains Tolling

Jul 13, 2020

In connection with the continued efforts of New York State to grapple with the COVID-19 pandemic, a recent order updated the emergency measures in place impacting pending and potential litigation in New York and possibly beyond.

Perspective

Volcker Rule Update: Amendments to the Covered Funds Provisions

Jul 13, 2020

The Federal Reserve Board (the Federal Reserve), the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (collectively, the Agencies) issued a final rule[1] amending the “covered fund” provisions of the Volcker Rule (the Covered Fund Amendments). The Covered Fund Amendments are substantially similar to the changes that were proposed earlier this year[2] and will be effective on October 1, 2020.

News

Republic of Uruguay’s Tender Offer and Bond Issuance

Jul 10, 2020

Shearman & Sterling advised Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and Itau BBA USA Securities, Inc., as dealer managers in connection with an offer to purchase for cash made by the Republic of Uruguay for its 4.250 percent Global UI Bonds due 2027, 4.375 percent Global UI Bonds due 2028 and 4.000 percent Global UI Bonds due 2030.

Perspective

Key Considerations for Midstream Contracts in Today’s Distressed Environment

Jul 10, 2020

Partner Omar Samji and counsel Angela M. Heywood Bible published an article in Currents, the newsletter of the Corporate Counsel section of the State Bar of Texas. The article describes how midstream oil and gas companies can find provisions in their midstream contracts that may provide remedies and relief in light of the downturn the energy industry is experiencing.

News

Sunac China Holdings Limited’s $1 Billion Senior Notes Offering

Jul 10, 2020

Shearman & Sterling represented  the initial purchasers including China CITIC Bank International Limited, China Industrial Securities International Brokerage Limited, Credit Suisse (Hong Kong) Limited, Guotai Junan Securities (Hong Kong) Limited, The Hongkong and Shanghai Banking Corporation Limited, Morgan Stanley & Co. International plc and Nomura International (Hong Kong) Limited in connection with Sunac China Holdings Limited’s offering of $600 million 6.5% senior notes due 2023 and $400 million 7.0% senior notes due 2025. 

News

ArcelorMittal and Nippon Steel’s Joint Venture Acquisition of Essar Steel Selected as S&P Platts 2020 Global Metals Deal of the Year

Jul 09, 2020

ArcelorMittal and Nippon Steel's joint venture, AM/NS India, won the Deal of the Year Award from the S&P Platts 2020 Global Metals Awards for completing the $5.7 billion acquisition of Essar Steel India Limited, a fully integrated steel producer in India that entered insolvency in 2017. The acquisition provides both ArcelorMittal and Nippon Steel a sizeable entry into the high-growth Indian steel market, where steel consumption is expected to grow on average around 6% annually over the next 10-15 years. Neither joint venture partner had any production capability in India before the acquisition.

News

Shearman & Sterling Honored With Proximo Awards

Jul 09, 2020

Shearman & Sterling won 10 Proximo Deal of the Year Awards, demonstrating the firm’s expertise on advising clients on global, complex energy and infrastructure transactions.