find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
Corrs and Hunt & Hunt guide Nations Petroleum deal

Corrs and Hunt & Hunt guide Nations Petroleum deal

Corrs Chambers Westgarth has advised AED Oil Limited (AED) on its acquisition of three sub­sidiaries of Canadian oil company Nations Pe­troleum, advised by Hunt & Hunt.One of the…

Corrs Chambers Westgarth has advised AED Oil Limited (AED) on its acquisition of three sub­sidiaries of Canadian oil company Nations Pe­troleum, advised by Hunt & Hunt.

One of the acquired companies is in Cyprus, with a 50 per cent interest in Brunei's Block L, while the other two companies are in The Nether­lands, with varying interests in Indonesia.

Corrs partner Peter Ickeringill said the success of the transaction depended on a high level of ingenuity. "The transaction required considerable legal and financial innovation, as it involved three separate transactions, which were not condition­al on each other but commercially linked," he said.

"The consideration included the issue of AED shares to Nations, which increased the com­plexity of the transaction, particularly as the shares can be bought back by AED in certain cir­cumstances."

During the transaction, Corrs provided advice to AED in relation to the negotiation of the sale and the purchase and subscription documentation.

The firm also conducted due diligence, pro­vided regulatory advice, coordinated relevant for­eign legal advice and implemented various as­pects of the transaction in foreign jurisdictions.

"We faced constant new legal, regulatory and environmental challenges, as timeframes were often extended and we were dealing with multi­ple foreign jurisdictions," said Ickeringill.

"This extremely complex transaction took five months to negotiate, document and complete."

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Corrs and Hunt & Hunt guide Nations Petroleum deal
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Jetski
Oct 23 2017
How to fail well
The legal profession is due for an attitude adjustment when it comes to perceived failures, accordin...
Consultation
Oct 23 2017
Lawyers slam rushed consultation for SA repeat offenders bill
The Law Society of South Australia has expressed concern for a proposal to roll out new laws amendin...
IBA
Oct 23 2017
The pursuit of happiness in the law
A panel of legal experts have explored how to define success in the legal profession, and how lawyer...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...