Shearman & Sterling was named Litigation and Dispute Resolution Team of the Year for its work advising the Dow Chemical Company on one of the largest arbitration awards ever. Dow was awarded US$2.5bn (£1.6bn) in a dispute with state-owned Kuwaiti giant Petrochemical Industries Company that drew to a close in the London High Court in March 2013.
The case set new standards because of both the size of the award and the strategic interest to Dow, whose share price jumped by 4% when the tribunal’s decision was revealed.
