The Legal 500

Allens Arthur Robinson is frequently involved in ‘big-ticket deals’. Fostering a ‘very strong reputation’ in bank-side work, specialising in corporate restructuring, securities enforcement and receiverships. Notable recent work includes acting for the lender consortium on the Centro restructuring, and advising ANZ’s Bendigo branch and Adelaide Bank on their exposure to the collapse of Timbercorp and Great Southern Plantations, respectively. John Water and Simon Lynch are highly regarded, and Michael Quinlan and Ian Wallace are also key figures. Geoff Rankin heads the group.

Blake Dawson is widely revered for its ‘top-tier’ restructuring work in Sydney and Melbourne. Ray Mainsbridge’s ‘untouchable’ team adeptly handles high-profile matters, including the $2.8bn Alinta Energy restructuring and the Lehman Brothers class action. Other clients include Merrill Lynch and Deloitte. James Marshall is a leading practitioner for business workouts, and Michael Sloan is highly regarded for his restructuring and insolvency advice.

Henry Davis York is ‘strongly recommended’ for secured, bank-driven restructuring work. Scott Atkins recently led advice to the liquidators of Octaviar, including handling multi-jurisdictional litigation, while John Evans advised the receivers of ABC Learning Centres on a restructuring. Alex Mufford and John Martin advised Perpetual Trustee Company on structured credit matters relating to $125m in retail credit linked notes impacted by the Lehman Brothers collapse. Roger Dobson is highly regarded.

Minter Ellison’s métier is bank-appointed receivership work. It displays ‘business acumen’ and the deep-rooted ‘bench strength required for large jobs’. Brendon Watkins recently led advice to several major banks (including ANZ and CBA) on matters relating to the Great Southern collapse, and the ‘very capable’ Michael Hughes advised Anchorage on issues arising from the Alinta restructuring. Ian Walker heads the group.

Arnold Bloch Leibler has carved out a particular niche in the insolvency space, devising contingency reconstruction plans for private equity firms and major lenders. During 2010 and 2011, the team was heavily involved in advising unsecured lenders on Centro’s difficulties, and global hedge fund TPG on Alinta Energy’s insolvency. Leon Zwier is a ‘forceful advocate’ and ‘lateral thinker’, and Ben Mahoney is ‘one of the most effective restructuring lawyers in Australia’.

Clayton Utz’s well resourced team gives ‘uncompromising and precise legal guidance in frontline transactions’. The ‘supportive and collaborative’ David Cowling recently advised Ferrier Hodgson on Redgroup’s collapse, assisting the voluntary administrator in extending the convening period by six months. The ‘technically astute’ and ‘reassuring’ Karen O’Flynn advised ACT Super on the collapse of Trio and a number of superannuation funds it had managed.

At Corrs Chambers Westgarth, Dominic Emmett advises lenders, financial institutions and hedge funds on non-contentious restructuring; John Stragalinos and Kirsty Sutherland handle traditional receivership work and recovery litigation. The team recently represented several hedge funds as creditors of Alinta on a de-leveraging agreement, and also advised Clearwater Capital on the administration sale of Griffin Coal.

Freehills handles restructuring and traditional insolvency work for banks and other lenders. Daniel Brealey and Konrad de Kelroy recently advised ANZ on its role as receiver and manager of Burrup. The firm is acting for Centro Property Group and Retail Trust on its restructuring. Team head Peter Smith handles receivership work in Queensland. Desmond Sweeney retired in early 2011.

Martin James’ 18-strong team at Mallesons Stephen Jaques represents PEFs, financiers and domestic corporates in the workout and restructuring space. Linda Johnson recently acted for Alinta on its de-leveraging agreement, while Jeff Clark advised the senior and mezzanine lenders to Griffin Power. Tony Troiani has an excellent ‘command of the area’.

Baker & McKenzie’s Maria O’Brien has had an outstanding period of activity, having advised TPG Capital LP on the Alinta restructuring as well as advising the administrators of Griffin Coal. Practice head Bruce Hambrett advised Fortress and PPB on the collapse of Octaviar Group. Security enforcement in the property finance sector has been another notable area of activity for the firm, which typically acts for receivers in such cases.

Gilbert + Tobin leans toward front-end banking rather than insolvency work, but has been involved in key deals linked to prominent administrations and restructuring. Andrew Bullock represented Pacific Equity Partners as a shareholder in Redgroup, and Peter Cook recently advised Blackstone on the purchase of Centro Group’s US assets. John Schembri heads the team.

Norton Rose Australia has a ‘small but strong’ insolvency team in Melbourne, led by Steven Palmer. David Goldman recently assisted Japan Airlines in gaining recognition to restructure its Australian operations. The team was subsequently appointed to CBA’s panel.

Piper Alderman is ‘phenomenal’ in South Australia. Michael Lhuede’s team represented banks and liquidators variously on recovery of security, enforcement proceedings and administration. Amanda Banton has been deeply involved in litigation pursuant to Lehman Brothers’ collapse.

In terms of insolvency, DLA Piper Australia is a ‘superior operator in the Sydney market’. Adept at ‘resolving challenging situations’, the group regularly advises Westpac in the workout space, handling restructuring and asset repossessions. Bill Chapman is an ‘astute, commercial lawyer’, and Scott Harris provides ‘a seamless service across borders’.

Gadens Lawyers undertakes routine recovery file work for three of Australia’s “Big Four” banks. Team head Justin Bates ‘outstrips the competition’ when it comes to levels of service.

Strongest in Adelaide, Johnson Winter & Slattery acts for receivers and managers on receiverships, and for executives in major administrations. David Proudman recently advised 22 Australian investors in the Belmont litigation in the UK’s Supreme Court.

Kelly & Co fuses ‘excellent business acumen with sound commercial advice’. David Colovic adopts a ‘detailed and thorough approach in litigious matters’, and is a solid performer ‘in around-the-table negotiations’. Clients include Westpac and Kordamenta.

Kemp Strang has struggled to gain large restructuring and insolvency instructions of late and instead has focused on routine restructuring of SMEs. Alex Linden is recommended.

Maddocks predominantly advises liquidators, receivers and managers of SMEs, but recently acted for a large New York hedge fund on acquiring debt held in Centro. David Newman heads the team.

Philip Stern at Addisons is a leading litigator in the insolvency space. He and his team also advise public companies on administrations and restructuring.

At DibbsBarker, Wendy Jacobs’ Sydney team has experienced a decline in unsecured creditor work, but the ‘practical’ Scott Guthrie recently advised KordaMentha on a failed shopping development in North Queensland.

McCullough Robertson has a ‘good reputation in Brisbane’, and recently acted for the Bank of Queensland on the receivership of Aristocon.

TressCox’s insolvency practice has been heavily reliant on Nigel Watson, but the firm recently recruited Alex Moriarty to ratchet up its Queensland capabilities.