Shearman & Sterling represented The Dow Chemical Company in its major arbitration victory announced today—in which Dow was awarded more than $2.1 billion. This case arose from the withdrawal by Petrochemical Industries Company, a wholly owned subsidiary of Kuwait Petroleum Company, from a planned joint venture with Dow.
Shearman & Sterling’s International Arbitration team was led by partners Henry Weisburg (New York), Emmanuel Gaillard (Paris), Jon Greenblatt (Washington, DC),Richard Kelly (London) and Chris Ryan (Washington, DC). Shearman & Sterling had also negotiated the joint venture with PIC, with a team led by M&A partners George Casey (New York) and James Comyn (Abu Dhabi) and project finance partner Nick Buckworth (London).
