Law firm Deacons has announced the appointment of a Clifford Chance lawyer to its ranks.
Troy Doyle has joined the firm's insolvency and restructuring group, and will lead a team focusing on advising clients on distressed investments in Australia.
Doyle joins Deacons from Clifford Chance, where he was the restructuring practice leader for South-East Asia.
The move comes soon after Deacons Australia announced plans to merge with international legal practice Norton Rose Group, which will take place on 1 January 2010.
Doyle's appointment is just the most recent international firm and Australian firm lawyer swap. International law firm Jones Day announced the appointment of Freehills lawyer Philip Hoser this month.
Hoser was a commercial litigation partner at Freehills, and headed up the firm's restructuring and insolvency practice. One commentator said insolvency lawyers are increasingly sought after in the current climate, and that Australian firms can expect to see many more swaps between major firms in this area in the coming months.
Doyle specialises in financial and corporate restructuring, distressed mergers and acquisitions, distressed debt trading and other special opportunity transactions. He has advised leading financial institutions, private equity firms and hedge funds on maximising the return on their investments in distressed situations, Deacons said today.
John Holmes, head of the insolvency and restructuring at Deacons Australia, said: “[Doyle] is a highly respected practitioner with extensive restructuring and distressed investments experience throughout Asia, Australia and the United Kingdom. [His] appointment coincides with the Norton Rose merger, and he will play an important role in the continued growth of our practice throughout the Asia-Pacific.”
Jeremy Edwards, head of Norton Rose’s global banking group, also commented on the hiring coup from one of its major competitors: “This is an important hire and Troy’s experience will complement and enhance Deacons Australia’s (soon to be Norton Rose) existing strength in this area. We see this as a very positive and exciting development.”
Doyle himself said: “As the market evolves, distressed investing is a growing area in Australia - with clients demanding knowledge of structuring options and the key legal issues which face investors."
Doyle said the new Norton Rose Group will have an "unparalleled" depth of experience across the Asia-Pacific region, and offer clients a seamless service across the jurisdiction to complement their own operations.”
Doyle is featured as a leading (tier 1) restructuring lawyer in Chambers Asia (2009 edition), Legal 500 (2009 edition) and International Finance Law Review IFLR1000 (2008 and 2009 editions).