A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling. With nearly 4,000 lawyers globally, we are equally fluent in English law, U.S. law and the laws of the world’s most dynamic markets.
This combination creates a new kind of law firm, one built to achieve unparalleled outcomes for our clients on their most complex, multijurisdictional matters – everywhere in the world. A firm that advises at the forefront of the forces changing the current of global business and that is unrivalled in its global strength.
Our clients benefit from the collective experience of teams who work with many of the world’s most influential companies and institutions, and have a history of precedent-setting innovations.
Together our lawyers advise more than a third of NYSE-listed businesses, a fifth of the NASDAQ and a notable proportion of the London Stock Exchange, the Euronext, Euronext Paris and the Tokyo and Hong Kong Stock Exchanges.
Shearman & Sterling Financial Restructuring & Insolvency partner Mark Shapiro told Bloomberg News on March 15 that the U.S. government has taken prompt and necessary steps to safeguard the country’s financial system...
United States
Shearman & Sterling Financial Restructuring & Insolvency
partner Mark Shapiro told Bloomberg News on March 15 that the U.S.
government has taken prompt and necessary steps to safeguard the
country's financial system following the collapse of Silicon
Valley Bank.
"The most important thing that the government did was do
something early, and that was not something that they did during
the Lehman crisis in 2008," Mark said. "I call Janet
Yellin, the Super Woman of the moment because she decided, with
others in the government, that it made sense to step up to the
plate quickly."
The Federal Deposit Insurance Corporation took control of the
assets of Silicon Valley Bank on Friday. The failure of the Santa
Clara, Calif.-based bank is the second-largest in U.S. history, and
the largest since the financial crisis of 2008.
"They've described this as a non-taxpayer
bailout," Mark added. "[The government] came out with a
statement yesterday in which they said that not only is the FDIC
backing the banks but the full faith and credit of the United
States government was backing the banks. You couldn't have a
safer instrument than any other bank in the country."
Mark Shapiro is a Partner and Chairman of the Financial
Restructuring & Insolvency group in New York and a member of
the Firm's Executive Committee.
Contributor
A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling. With nearly 4,000 lawyers globally, we are equally fluent in English law, U.S. law and the laws of the world’s most dynamic markets.
This combination creates a new kind of law firm, one built to achieve unparalleled outcomes for our clients on their most complex, multijurisdictional matters – everywhere in the world. A firm that advises at the forefront of the forces changing the current of global business and that is unrivalled in its global strength.
Our clients benefit from the collective experience of teams who work with many of the world’s most influential companies and institutions, and have a history of precedent-setting innovations.
Together our lawyers advise more than a third of NYSE-listed businesses, a fifth of the NASDAQ and a notable proportion of the London Stock Exchange, the Euronext, Euronext Paris and the Tokyo and Hong Kong Stock Exchanges.
