The long-awaited judgment of the General Court (GC) in the pay-TV saga (case AT.40023 Cross-border access to pay-TV) has finally been delivered, two years after the annulment action was brought.

On 10 December 2018, the Court of Justice of the European Union (“CJEU”) issued a judgment, ruling that a Member State can unilaterally revoke its notice to leave the European Union under Article 50 of the Treaty on European Union. The court ruled that both a unilateral and consensual revocation are permitted.

Sandra Bang, our firm’s Chief Diversity & Talent Strategy Officer, was interviewed in Law.com’s Legal Speak podcast.

Partner and Head of Nuclear George Borovas (Tokyo-Project Development & Finance) spoke at Reliable Nuclear Fuel Services Working Group on “Approaches to Financing a Multinational Repository” in Paris on December 11, 2018.

Shearman & Sterling advised a consortium led by Pertamina Power Indonesia, Marubeni Corporation and Sojitz Corporation in connection with the development and financing of the US$1.7 billion integrated LNG-to-power project located in West Java Province, Indonesia. The project achieved financial close on December 5, 2018.

Shearman & Sterling advised Lucky Bucks, LLC, as borrower, on an amendment that upsized its existing $75 million delayed draw secured term loan facility, agented by Goldman Sachs Specialty Lending Group, L.P., to an aggregate of $100 million in commitments and funded term loans.

We advised MetLife Real Estate Investors in connection with a $137 million acquisition financing of 440 Ninth Avenue in New York City for Taconic Investment Partners and TH Real Estate.  440 Ninth Avenue is an 18-story, 411,000-square-foot building on New York City’s Far West Side. Taconic and TH purchased the property from Unizo Holdings for $269 million.

Shearman & Sterling advised JPMorgan Chase Bank, N.A. as administrative agent on a $5 billion unsecured revolving credit facility for Abbott Laboratories.

Shearman & Sterling advised Bayerische Landesbank and DZ Bank as lenders on the financing of the acquisition of Ledlenser GmbH & Co KG (Ledlenser), a leading manufacturer of LED flashlights and headlamps. The indirect purchaser is AFINUM Achte Beteiligungsgesellschaft mbH & Co. KG  was advised by AFINUM Management GmbH, along with INVISION and the Management Team.  The seller is the Leatherman Tool Group.

Associate Anna Guillard Sazhko (Paris-International Arbitration) was appointed to the board of the Ukrainian Arbitration Association for a period of three years, following a vote casted on November 19, 2018. Located in Kyiv, the board consists of nine arbitration practitioners from various law firms around the world, several of which, including Shearman & Sterling, conduct high-profile work for Ukraine.