Shearman And Sterling

Event

NYC Fintech Women Features Donna Parisi on Panel of Leaders in Blockchain

Jan 21, 2021

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.

News

Citrix Systems’ $2.25 Billion Acquisition of Wrike

Jan 20, 2021

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.

News

Shearman & Sterling Expands Leveraged Finance Offering with the Addition of Heather Waters Borthwick

Jan 20, 2021

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

Event

How to Effectively Conduct an Internal Investigation: Key Considerations During a Pandemic

Jan 20, 2021

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.

Perspective

New Final Regulations Issued Under Section 1061 Make Significant Changes Impacting 3-year Holding Period on Carried Interests

Jan 19, 2021

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.”

Perspective

UK Supreme Court Confirms Scope of Insurance Coverage for COVID-19 Business Interruption Losses

Jan 19, 2021

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.

Perspective

Implementation Date for ISDA IBOR Fallbacks Protocol Approaches

Jan 19, 2021

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.

News

Seazen Group Limited’s $300 Million Senior Notes Offering

Jan 18, 2021

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

Perspective

Looking Back and Looking Forward: Corporate Governance and M&A in 2020 and 2021

Jan 15, 2021

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

News

Itaú Unibanco’s US$500 Million Tier II Notes Offering

Jan 15, 2021

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.