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JULY 2014
World Report - Asia & Australasia
Baker & McKenzie continues global growth with the opening of its 76th office worldwide in Brisbane, Australia
The world's premier global law firm Baker & McKenzie has announced the opening of its newest office in Brisbane, Australia. The move reaffirms the Firm's commitment to serving its clients in key global jurisdictions, and responding to opportunities involving global investment. Baker & McKenzie has appointed three highly regarded partners from other top-tier Australian law firms to lead its new Brisbane office - Philip Christensen, Jo Daniels and Darren Fooks. Each have extensive experience in the Brisbane market and are joined by a significant team
of associates. They will work closely with the Firm's Sydney, Melbourne and international practices.
Fooks, Daniels, Christensen and their teams will focus on a range of sectors including energy & resources,
infrastructure,
corporate/mergers & acquisitions, construction, agribusiness, property and government. Daniels is also well known for her competition advice on mega mergers.
Baker & McKenzie's Chairman of the Executive Committee, Eduardo Leite, said: "I am delighted to
Australian carbon price finally repealed
The Australian Senate has passed the bills repealing the Clean Energy Act 2011, the centrepiece of the Australian carbon price scheme that commenced on 1 July 2012.
The bills failed to pass the Senate, when the Palmer United Party sought to introduce further penalties for price exploitation in the bills. The Federal Government then amended the bills and re- introduced them into Parliament, for a third time, earlier this week.
Once the bills have received royal assent, the carbon tax repeal and most other provisions will take effect from 1 July 2014.
The repeal legislation includes several
"price exploitation
provisions", inserting sections in the Competition and Consumer Act 2010 that prohibit corporations from engaging in "price exploitation in relation to the carbon tax repeal" during the period 1 July 2014 to 30 June 2015, in relation to the supply of natural gas, electricity and other specified goods ("regulated supplies").
These price exploitation provisions commence on the day after royal assent is given to the repeal bills, and relate to conduct engaged in from and after that date in relation to the period from 1 July 2014.
announce the opening of our 76th office worldwide in Brisbane, Australia. There are significant opportunities for our Australian and international clients in resources, infrastructure development and agribusiness in Queensland. Like all of our offices, our new team in Brisbane will combine deep local insight with an instinctive global perspective."
Baker & McKenzie's Australia national managing partner Chris Freeland said the office opening is a natural move for the Firm.
"Our new Brisbane office is key to deepening our Firm's offering across a number of sectors in Australia and globally. Baker & McKenzie is in 12 of the 15 most resource- rich jurisdictions in the world. Few law firms can say that."
"We have built one of the strongest energy & resources teams in the country and our top-tier infrastructure and construction practices are outstanding. There is no better time than now for us to move into the Queensland market."
Freeland added: "Our lawyers will be supported by the strongest regional and global legal network - with the combined knowledge of more than 4,000 lawyers in a further 75 offices and 47 countries across the globe. That is a unique advantage for our clients."
Brisbane is Baker & McKenzie's seventh office opening in three years, following the launch of its offices in Yangon, Seoul, Dubai, Lima, Casablanca and Johannesburg.
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K&L Gates Advises Republic of Indonesia on Sale of Debut Euro Debt
Global law firm K&L Gates acted for the Republic of Indonesia in the sale of its debut euro-denominated bonds. The nation sold 1 billion euros (USD1.4 billion) of 2.875% Notes due 2021, in a drawdown under its USD25 billion Global Medium Term Note Program.
Hong Kong partner David Johnson led the K&L Gates team advising the Republic of Indonesia on the sale. Johnson was assisted by counsel Christopher Tan and
associate Arjuna Chandramohan, both of the firm’s Singapore office.
Johnson commented: "With the ECB cutting its benchmark interest rates, it made sense for our client to tap the euro market and widen their investor base, as demand for the euro is likely to increase. This debut euro issuance came at a critical time for our client ahead of presidential elections held earlier this month."