Sullivan & Cromwell

Sullivan & Cromwell is a prominent international law firm with a rich history dating back to 1879, founded by Algernon Sydney Sullivan and William Nelson Cromwell. The firm has been involved in numerous high-profile cases and transactions, including the Penn Central Transportation Company bankruptcy and the IBM acquisition of Lotus Software. With offices in major financial centers such as New York City, London, and Tokyo, Sullivan & Cromwell has advised clients like JPMorgan Chase, Goldman Sachs, and Morgan Stanley. The firm has also been recognized for its expertise in areas like Mergers and Acquisitions, Capital Markets, and Financial Institutions.

● History

Sullivan & Cromwell was founded in 1879 by Algernon Sydney Sullivan and William Nelson Cromwell, and it quickly established itself as a major player in the Wall Street legal scene. The firm advised clients like John D. Rockefeller and J.P. Morgan on significant transactions, including the creation of the Standard Oil trust. During the early 20th century, Sullivan & Cromwell played a key role in shaping the development of Corporate Law and Securities Law, with lawyers like John Foster Dulles and Allen Welsh Dulles contributing to the drafting of the Securities Act of 1933 and the Securities Exchange Act of 1934. The firm has also been involved in significant international transactions, such as the Marshall Plan and the Bretton Woods Agreement, working with institutions like the International Monetary Fund and the World Bank.

● Practice Areas

Sullivan & Cromwell has a broad range of practice areas, including Mergers and Acquisitions, Capital Markets, Financial Institutions, Litigation, and Tax Law. The firm's lawyers have expertise in areas like Antitrust Law, Intellectual Property Law, and Employment Law, and have advised clients like Google, Microsoft, and Facebook on complex transactions and disputes. Sullivan & Cromwell has also been recognized for its expertise in Private Equity and Hedge Funds, working with clients like Kohlberg Kravis Roberts and Blackstone Group. The firm's lawyers have experience in areas like Banking Law and Financial Regulation, and have advised clients like Bank of America and Citigroup on regulatory matters.

● Notable Cases and Clients

Sullivan & Cromwell has been involved in numerous high-profile cases and transactions, including the Enron bankruptcy, the WorldCom bankruptcy, and the Lehman Brothers bankruptcy. The firm has advised clients like General Motors and Chrysler on significant transactions, including the General Motors bankruptcy and the Chrysler bailout. Sullivan & Cromwell has also represented clients like Goldman Sachs and Morgan Stanley in major Securities Class Actions, and has advised clients like JPMorgan Chase and Bank of America on significant Mergers and Acquisitions transactions. The firm has worked with institutions like the Federal Reserve and the Treasury Department on matters related to Financial Regulation and Monetary Policy.

● Controversies

Sullivan & Cromwell has been involved in several controversies over the years, including criticism for its role in the Enron scandal and the Financial Crisis of 2008. The firm has faced scrutiny for its representation of clients like Goldman Sachs and JPMorgan Chase in transactions that have been criticized as Toxic Assets or Subprime Mortgages. Sullivan & Cromwell has also faced criticism for its role in advising clients like Halliburton and KBR on matters related to the Iraq War and War on Terror. The firm has been subject to investigations by regulatory bodies like the Securities and Exchange Commission and the Financial Industry Regulatory Authority.

● Notable Lawyers and Alumni

Sullivan & Cromwell has a long history of producing notable lawyers and alumni, including John Foster Dulles, who served as United States Secretary of State under Dwight D. Eisenhower, and Allen Welsh Dulles, who served as Director of Central Intelligence under Dwight D. Eisenhower and John F. Kennedy. The firm has also produced notable lawyers like Joseph C. Shenker, who served as a United States District Judge for the Southern District of New York, and H. Rodgin Cohen, who has advised clients like Goldman Sachs and JPMorgan Chase on significant transactions. Sullivan & Cromwell alumni have gone on to work at institutions like the Federal Reserve, the Treasury Department, and the White House, and have included notable figures like Timothy Geithner, who served as United States Secretary of the Treasury under Barack Obama.

● Offices and Affiliates

Sullivan & Cromwell has offices in major financial centers around the world, including New York City, London, Tokyo, and Beijing. The firm has affiliates in cities like Hong Kong, Singapore, and Frankfurt, and has a network of relationships with law firms in other jurisdictions. Sullivan & Cromwell has worked with institutions like the International Bar Association and the American Bar Association to promote the development of International Law and Global Governance. The firm has also been recognized for its commitment to Pro Bono work and Community Service, with lawyers participating in initiatives like the Legal Aid Society and the American Red Cross.