Sullivan & Cromwell LLP

S&C advised on three matters that earned accolades at the Global Banking & Markets Latin America Awards, which recognize the “most innovative and ground-breaking deals” in the region. We advised: - The underwriters to the United Mexican States’ $7.5 billion offering of global bonds, which won “Global Banking & Markets Deal of the Year;” - Minera Centinela on a $2.5 billion project financing, which won “Project Finance Loan Deal of the Year;” and - The underwriters to the Federative Republic of Brazil on a $2.25 billion offering of global bonds, which won “Bond Deal of the Year.” Learn more: https://lnkd.in/e2hxHs8s

Ann-Elizabeth Ostrager, Co-Head of S&C’s Employment Law Group, spoke on the panel “Ethical Issues in Trade Secret Cases” at New York City Bar Association’s Trade Secrets Symposium 2024: Navigating the Law of Trade Secrets and Restrictive Covenants on December 10. The symposium examined organizational assets, from cutting-edge technologies to profit-enhancing improvements and beyond, in the context of trade secret law. Annie’s panel focused on ethical issues in trade secret litigation. Learn more about Annie’s practice: https://lnkd.in/e9Gipq3p

For persuading the U.S. Court of Appeals for the Second Circuit to reverse the certification of a class of Goldman Sachs shareholders claiming $13 billion in losses, S&C won the Financial Times’ top award for “Innovative Lawyers in Dispute Resolution” at the publication’s Innovative Lawyers North America Awards. The ruling ended 13 years of litigation and marked just the second time that the Second Circuit has granted three discretionary Rule 23(f) appeals. The team included Robert Giuffra Jr., David Rein, Benjamin Walker, Julia Malkina and Morgan Ratner. Learn more: https://lnkd.in/gvJj4XFr

Sullivan & Cromwell Partners Ari Blaut and Benjamin Beller co-authored the article “‘Naked’ Section 363 Sales in Restructurings of Life Sciences Companies May Maximize Value” for The Review of Banking & Financial Services. In the article, Ari and Ben analyze how the recent trend of “naked” section 363 sales highlights the importance of stakeholders looking beyond the standard playbook to maximize value. Read the article: https://lnkd.in/g5U7dPh3 Learn more: https://lnkd.in/g9Yq2tKM

As companies prepare their annual reports on Form 10-K and Form 20-F for calendar year 2024, they should consider recent changes to the disclosure rules of the Securities and Exchange Commission and the implications of certain recent developments in SEC enforcement activity and rulemaking. Subscribe to our memos: https://lnkd.in/eJ2NJfei Learn more: https://lnkd.in/ebwuXAup

An S&C team including Kay Ian Ng, Will Ma, Koey Chan and Karina Poon is advising Morgan Stanley Asia as co-lead financial adviser and sole structuring adviser for the privatization proposal for ESR Group valuing the company at $7.1 billion. Learn more: https://lnkd.in/eNPjs-hY

This memorandum reviews key developments from the NAIC, primarily from its Fall National Meeting, with respect to its “private equity initiative.” Subscribe to our memos: https://lnkd.in/eJ2NJfei Learn more: https://lnkd.in/eyXJyPuX

S&C Co-Chair Robert Giuffra joined the Law, Disrupted podcast with host John Quinn, Chairman of Quinn Emanuel Urquhart & Sullivan, to discuss the importance of a strong firm culture, recruitment strategies, leadership and the critical role of teamwork in professional services organizations. They also discussed complexities around managing law firm partnerships in increasingly competitive markets. Listen to the podcast: https://lnkd.in/eXMsudtT   Learn more: https://lnkd.in/eWvtcVrx

On November 22, the Division of Trading and Markets of the Securities and Exchange Commission issued a no-action letter providing relief from the requirements of Rule 15c2-11 under the Securities Exchange Act of 1934 to fixed income securities that meet certain criteria. The relief under the no-action letter has the effect of extending the current practice involving fixed income securities indefinitely. Subscribe to our memos: https://lnkd.in/eJ2NJfei Learn more: https://lnkd.in/emFsSwWw

An S&C team including Frank Aquila, Matthew Goodman and RuiHui (Rachel) Yu advised AB InBev in extending its nearly 40-year partnership with FIFA to include the inaugural FIFA Club World Cup 2025™, becoming the tournament’s official beer partner. Learn more: https://lnkd.in/e-mh9D75