Asialaw Profiles
The Guide to the legal markets of the Asia-Pacific

Allen & Overy

The Grant Fuzi led team at Allen & Overy is starting to make an impact in the Australian banking and finance space. The firm advised JP Morgan, Banco Santander, Barclays, BNP Paribas, Royal Bank of Scotland and Toronto-Dominion Bank on the corporate finance aspects of a US$45 billion loan facility as part of the financing for BHP Billiton’s bid to acquire Potash Corp of Saskatchewan.

DLA Piper

DLA Piper’s banking and finance team is making major progress in this sector. One client of the practice says: “We have a long standing association with the firm and are entirely comfortable with the professional and pronotable work of the partners and support staff.”

Deal highlights included advising Westpac Banking Corporation on a syndicated warehouse finance repurchase facility for Emerald Grain Australia. This was an innovative and time-critical facility with a number of structuring challenges such as material GST issues.

Johnson Winter & Slattery

Johnson Winter & Slattery’s finance practice specialises in finance borrowing and sponsorship. The firm acts for Australian and international entities on high profile complex acquisitions, projects and cross border finance transactions. Last year saw the firm continue its advising role for the SEA Gas Partnership on the refinancing of its US$450 million project debt facility.

“Clients expect outstanding service 100% of the time, and that’s an expectation the firm consistently delivers on,” says one client. The team’s undeniable quality of work has earned the praise of clients and peers, with one competitor commenting: “I respect the firm for its professional skill.”

The firm advised global biopharmaceutical company Cephalon Inc on its strategic alliance with Mesoblast. Cephalon was granted exclusive worldwide rights to commercialise specific products based on Mesoblast’s proprietary adult stem cell technology platform. This was in exchange for an upfront payment of US$130 million and agreement to regulatory milestone payments of up to US$1.7 billion.

“I rate Johnson Winter & Slattery very highly,” says one client, “in particular for its ability to be innovative in finding solutions.” Competitors of the firm also note: “The firm has a strong understanding of the national regulatory environment.”

Partner Tony Johnson is a highly skilled, experienced lawyer “who has a deep understanding of our business and the regulatory environment in which we operate” adds another client. “His tactical advice is critical. In fact, I would recommend any of lawyers at the firm as it has assembled a great team for what I require.”

Last year saw the firm advise ASIC on claims for compensation arising out of the collapse of companies in the Westpoint Group. This headline case contained complex sets of proceedings involving claims in the Federal and Supreme Courts in different states.