One lawyer to remain in Skadden's Sydney office after three join Allen & Overy
Three securities lawyers from the Australian office of Skadden, Arps, Slate, Meagher & Flom have joined Allen & Overy, reportedly leaving Skadden with one attorney at its Sydney office.
The three-member securities team, is led by former partner by Mark Leemen. The group’s recent clients include Scentre Group, Transurban and Westpac, Legal Business and the Am Law Daily reported. Adrian Deitz, who co-heads Skadden’s corporate finance group, will remain in the Sydney office, as part of the firm’s Singapore and Hong Kong group, according to the article.
American Lawyer (sub. req.) reported in February that Skadden would be closing its Sydney office, which at the time had five lawyers. The article noted that the Australia’s mining industry isn’t doing well, and Chinese investors, who have been active in Australia, are dealing with a devalued yuan.
Skadden opened its Sydney office in 1989. In 2014, it represented the Commonwealth of Australia Medibank Private, a national private health insurer, on its $4.9 billion initial public offering. It was the country’s second-largest-ever IPO.
More than 10 U.S.-based international law firms are in Australia, according to American Lawyer, including Baker & McKenzie, DLA Piper and Squire Patton Boggs.
