As war became a possibility during the protracted Iranian hostage crisis in 1979, Iran initiated secret negotiations to free the 52 American captives, not through diplomatic channels but through Shearman & Sterling partner John Hoffman, who brokered a deal to unfreeze $12 billion in Iranian assets kept in U.S. banks in exchange for the hostages’ release.

This episode is among many featured in a museum-quality exhibit that Shearman & Sterling has mounted to mark its involvement in significant milestones in law, politics and business. In 125 years as a law firm, Shearman & Sterling has been at the center of many major legal battles, including financier Jay Gould’s fight for control of the nation’s main railroads just after the Civil War, Viacom’s bid for Paramount Communications in what became known as “the deal from Hell” and Shannon Faulkner’s challenge to the banning of women from the Citadel military college.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]