Norton Rose Fulbright, a global powerhouse with more than 50 offices, continues to shape the future of restructuring and insolvency. In Perth, the firm’s restructuring team – led by partners Jeffery Black and Kellie Link – leverages international expertise, commercial acumen, and a forward-looking strategy to address the challenges facing distressed businesses and their stakeholders.
Establishing Perth as a strategic hub for restructuring services
As Perth continues to evolve as a key business hub in Australia, Norton Rose Fulbright has made a concerted effort to grow its restructuring practice in the region to support clients within industries including energy, mining, financial services, agribusiness and construction. With the local economy impacted by interconnected pressures from global disruptions and local market dynamics, businesses are increasingly turning to legal experts to navigate financial challenges.
Following an 8 year stint in New York, Jeffery Black returned to Perth and joined Norton Rose Fulbright in 2014. He was elevated to Partner in 2016.
“Perth’s diverse industrial base creates unique challenges and opportunities in restructuring,” says Jeffery. “We are supporting clients locally and globally on the cross-border impact that financial distress and disruption, created by things like labour shortages and extreme weather, can have in the energy and mining industries, and the knock-on effect for major creditors and associated stakeholders. By expanding our practice here and leveraging our global network, we have been supporting clients facing those difficulties, as well as the ongoing effects of volatile commodity prices and environmental and regulatory risks.”
Kellie Link’s career trajectory mirrors the firm’s focus on cultivating homegrown talent. Having joined the firm as a clerk in 2011, Kellie has built her career at Norton Rose Fulbright and particularly in the restructuring sector, achieving partnership at the beginning of 2024.
“Being promoted to partner was an exciting and rewarding milestone,” she reflects. “Our team is dynamic and diverse, with a shared commitment to delivering commercial and timely advice to our clients on their most sensitive business matters.”
Rising uncertainty fuelling demand for restructuring services
As the global economy faces rising uncertainty, the demand for restructuring services has grown. As a result of his New York experience, Jeffery brings a wealth of experience in cross-border restructuring. “What energises us is the complexity of the work,” Jeffery says. “Restructuring is cross-disciplinary, and as markets evolve, so do the mandates. We work with sophisticated clients who set high standards, which drive us to deliver outstanding results.”
Kellie notes an uptick in formal appointments of external administrators nationally, particularly within the construction, retail, and hospitality sectors. “Economic pressures and rising interest rates, are placing significant strain on businesses,” she explains.
Norton Rose Fulbright’s approach remains proactive and protective. Kellie highlights the importance of early “safe harbour” advice for directors of financially distressed businesses. “Directors who seek timely, strategic legal advice are better positioned to achieve favourable outcomes for all stakeholders and to minimise personal exposure. We work alongside financial advisors to develop restructuring plans likely to lead to a better outcome than an immediate formal appointment, while providing protection under the Corporations Act.”
Leveraging global expertise for complex challenges
As a global entity, Norton Rose Fulbright is well-equipped to handle complex, multi-jurisdictional restructuring matters. Jeffery, who is qualified to practise in both Australia and New York, emphasises the advantage of global reach. “We leverage our international network to provide seamless service across jurisdictions. Whether managing restructuring cases in Asia, Europe, or the US, we offer solutions tailored to local laws and customs.”
Norton Rose Fulbright’s capabilities have been further strengthened in recent times in key hubs such as Singapore and Hong Kong. “Singapore, in particular, has emerged as a viable choice for global restructures following the introduction of its new insolvency process three years ago,” Jeffery shares. “We have recruited heavily in the region, ensuring that our team stands at the forefront of significant cross-border mandates.”
Norton Rose Fulbright’s global team represents a broad spectrum of stakeholders, including lenders, distressed debt funds, private equity firms, and secured creditors. This diverse clientele is a testament to the firm’s ability to provide consistent, high-quality support throughout the entire restructuring process.
Innovating for the future of restructuring
In an increasingly complex legal environment, Norton Rose Fulbright is committed to using technology and innovation to enhance client outcomes. Its recent AI statement reflects a strategic embrace of artificial intelligence to streamline processes and create bespoke solutions. “Technology plays a crucial role in today’s restructuring landscape,” Jeffery says. “We use AI and other tools to develop tailored strategies for our clients. Additionally, our cyber protection team, led from Washington, D.C., ensures that sensitive client data remains secure throughout complex cases.”
A key differentiator for Norton Rose Fulbright is its client-centric, commercial approach to restructuring. “We act for sophisticated clients who expect commercial advice delivered with agility,” Kellie says. “Our responsiveness and ability to align legal solutions with commercial outcomes set us apart.”
Jeffery echoes this sentiment. “We are pragmatic and results-focused. Whether we are introducing clients to funding sources or providing discreet advice on sensitive matters, we are dedicated to helping businesses and key stakeholders navigate challenging circumstances.”
What is next in the restructuring landscape
The restructuring landscape is dynamic, with global and regional trends indicating ongoing economic uncertainty. Jeffery points to the increasing number of US Chapter 11 filings as a development to watch. “We are also tracking regulatory changes, especially in the US, where tariffs and shifting economic conditions will undoubtedly ripple through global markets.”
For businesses in distress, early engagement with experienced restructuring professionals is essential. Kellie stresses, “Seeking timely advice can significantly improve outcomes. By understanding the legal options available, businesses can mitigate risks and position themselves for recovery or successful restructuring.”
