Herbert Smith Freehills Assisted Mitsui E&P Australia and Beach Energy in Waitsia Joint Venture Amid Clough Administration
Herbert Smith Freehills Assisted Mitsui E&P Australia and Beach Energy in Waitsia Joint Venture Amid Clough Administration
Herbert Smith Freehills provided support to Mitsui E&P Australia (Mitsui) and its joint venture partner, Beach Energy, concerning the voluntary administration of Clough, the contractor responsible for constructing the Waitsia Stage 2 gas project. A team led by the Perth office of the law firm, comprising lawyers from various offices, was involved in the matter.
Herbert Smith Freehills offered comprehensive legal guidance to the joint venture, which encompassed liaising with Deloitte, the administrators of Clough, to ensure that the wages of employees, as well as payments to suppliers and subcontractors, were made without any interruption.
The law firm also facilitated the negotiation of an agreement with Webuild, a construction firm based in Italy, for the completion of the Waitsia Stage 2 gas project.
The agreements reached with both Clough's administrators and Webuild have ensured that work on the Waitsia Stage 2 gas project has been able to proceed despite the administration.
Perth-based corporate energy partner Graeme Gamble, who oversaw the team advising Mitsui and Beach Energy, emphasised the significance of this high-speed transaction for both Mitsui and its joint venture partner Beach Energy.
He further noted that this illustrates the Kirkland team's expertise and their capability to efficiently utilise resources throughout the country for the benefit of their clients.
“This matter is an example of Herbert Smith Freehills’ leading role in ensuring the continued stability of Western Australia’s energy and infrastructure industry,” Graeme Gamble said.
David John and Mark Clifton, partners specialising in restructuring and insolvency, construction partners Toby Anderson, Dan Zador, and Dan Dragovic, as well as employment partner Anna Creegan, worked alongside Gamble in the matter.
Derreck Goh, executive counsel, and senior associates Frances Hewitt, Laurelle Ko, Laura Bowlt, Michael Lake, Catherine London, Mila Banovic, Sam Edwards, and Kathryn Maric, as well as solicitors Annabel Seow, Josh Kain, Sakura Kajimura, and Jessie Sun, provided additional support.
