Sullivan & Cromwell LLP is an American multinational law firm headquartered in New York City. Known as a white-shoe firm, Sullivan & Cromwell is recognized as a leader in business law, and is known for its impact on international affairs, such as the financing of the Panama Canal.
Sullivan & Cromwell has been recognized for its pro bono activities, receiving a "Pro Bono Leadership Award" from Legal Services NYC in 2016 and ranked by Law360 as being among the Top 20 Pro Bono Law Firms in 2015. Jay Clayton, Chair of the U.S. Securities and Exchange Commission (2017-2020) during the Donald Trump administration
Sullivan & Cromwell designed many of the equity and debt agreements used during this period, including 94 loan agreements to European borrowers during one seven-year period.
Sullivan & Cromwell was one of the earliest U.S. firms to open overseas offices, beginning with Paris in 1911. By 1928, offices also were open in Buenos Aires and Berlin.
Sullivan & Cromwell LLP is an international law firm headquartered in New York City. It is one of the most profitable law firms in the world, with 2020 profits per equity partner exceeding $5 million.
The post- World War I era saw an expanded need for financing. Sullivan & Cromwell designed many of the equity and debt agreements used during this period , including 94 loan agreements to European borrowers during one seven-year period. The firm's business expanded substantially during the 1930s, when it began to represent companies facing increased regulation and became for a time the world's biggest law firm. During the Great Depression and its aftermath, the firm litigated in the newly emerging fields of shareholder derivatives, antitrust actions, federal income tax law, and registration under the Securities Act of 1933. The firm developed the first major registration statement under the Securities Act of 1933 and influenced the development of tax law in the mutual fund industry.
In the 2012 Supreme Court case Maples v. Thomas, Justice Ruth Bader Gin sburg wrote: "Abandoned by counsel, Maples was left unrepresented at a critical time for his state post-conviction petition, and he lacked a clue of any need to protect himself pro se.
Sullivan & Cromwell was one of the earliest U.S. firms to open overseas offices, beginning with Paris in 1911. By 1928, offices also were open in Buenos Aires and Berlin. In 1935, Allen Dulles, then a partner in the firm and later Director of Central Intelligence, visited Germany and returned somewhat disturbed by the direction of the regime. Over the sole opposition of Allen's brother and fellow partner, John Foster Dulles, the firm's partners voted in 1935 to close the Berlin office and a subsidiary in Frankfurt. However, later the firm backdated the announcement of the closing of their German offices by one year, to 1934. Under Foster Dulles, the firm had helped the regime's arms buildup effort by including the German company I.G. Farben into an international nickel cartel, which included American, Canadian, and French producers.
During the Great Depression and its aftermath, the firm litigated in the newly emerging fields of shareholder derivatives, antitrust actions, federal income tax law, and registration under the Securities Act of 1933.
Sullivan & Cromwell performed the legal work for the Ford Motor Company 's $643 million offering in 1956, the biggest ever to that date. Evolving business trends continued to be reflected in the firm's organization; a banking practice was formed in 1968, and a mergers and acquisitions unit was established in 1980, as M&A began to accelerate. By the middle of that decade, the M&A unit generated a third of the firm's revenue.
Listed as a top law firm in 11 categories in the 2016 edition of Chambers Europe, including five in the top two bands, with 18 total recommendations in the directory
In recent years Sullivan & Cromwell has focused on building out some less high-profile areas including alternative investment management, restructuring, high-yield and leveraged finance, investigations and IP. It has also looked to expand its Greater China practice.
Recent highlight Sullivan & Cromwell deals in just the space of a few months include representing Amazon in its $13.7bn acquisition of Whole Foods; Kite Pharma in its $11.9bn acquisition by Gilead Sciences ; Panera Bread Company in its $7bn acquisition by JAB. The firm also has Wall Street in its DNA (Goldman Sachs is among its best-known longstanding clients while two former Sullivan & Cromwell partners, Gregory Palm and Karen Seymour, are currently the bank’s general counsel and co-general counsel respectively) and as such was front and centre of deals during and following the financial crisis of 2008. Its involvement in the highest-profile disputes continues, with for example the firm recently representing Volkswagen on its diesel emissions cases.
Sullivan & Cromwell entered the London market in 1972 and its City office is now its second largest after New York. In recent years Sullivan & Cromwell has focused on building out some less high-profile areas including alternative investment management, restructuring, high-yield and leveraged finance, investigations and IP. ...