Despite ongoing Covid uncertainty, Australian commercial law firms are active in the transactional space, with Australia`s traditional middle market recording significant transactions in resources, technology, retail, and food and beverage. One of the flagship deals was AB InBev`s sale of Carlton Breweries to Asahi for an estimated $16 billion, a complex multi-jurisdictional transaction that created work for a number of companies. In capital markets, the market has seen an increase in mergers and acquisitions, secondary capital raising, and IPOs, particularly in the healthcare and life sciences sectors. In the area of competition, the ACCC remains highly vulnerable to intervention, with a number of sector inquiries focusing in particular on large technologies, while M&A transactions are regularly challenged. The fight against cartels has also been an active source of work, as have changes to Australia`s foreign investment legislation. Prior to 2012, the following law firms were generally considered the Big Six (listed alphabetically):[12] Following these major changes in the Australian legal scene, the term Big Six is less used, and leading law firms are now the preferred descriptor of Australia`s largest and most profitable law firms. [8] [13] As of 2020, the top law firms in Australia (listed alphabetically) are:[34][35][36][37] In 2012, three of these firms merged with overseas firms and another began working with a foreign firm. The majority of the six law firms were among the top 100 law firms in the world. In terms of revenue, these were: Overall, these companies are the highest in terms of revenue in Australia with over $2.8 billion combined and tend to have the best customer service, top talent and impactful businesses. These six companies ranked in the top ten at one point and significantly increased their number of graduates in 2019 due to record profits. Let`s take a closer look at each of them. HWL Ebsworth is a trade law that applies nationally in Australia.
It is considered one of Australia`s leading national law firms and was ranked as Australia`s largest legal partnership by the Australian Financial Review last year. The firm employs over 1100 people and 245 partners and is well established in the Australian legal sector. In Australia, the leading law firm consists of six law firms formerly known as the Big Six. However, as four of the six law firms in the UK and China have merged or partnered with them, they are now considered Australia`s leading international law firm. MinterEllison is a multinational services company based in Australia. Its lawyers work together in Australia, New Zealand, Asia and the UK to achieve their goal of “being our clients` best partner”. The 2016 Acritas Brand Index ranked the firm among the top ten law firms in Asia Pacific, and they were recognized for their “high-level litigation” and “high-quality work.” Overall, the market continues to be dominated by the Big Six, which include Allens, Clayton Utz, Ashurst, Gilbert + Tobin, King & Wood Mallesons and Herbert Smith Freehills – all large companies that combine the strength of the bank with extensive domain expertise. International players such as Baker McKenzie have a strong foothold, particularly in transactional work and the growing technology space, while White & Case and Clifford Chance continue to expand their presence. A number of national companies, including Johnson Winter & Slattery, Minter Ellison and Corrs Chambers Westgarth, are also performing well, often challenging the traditional Big Six for high-profile mandates. Since the 2012 changes and due to the expansion of other competing law firms, the Australian legal landscape has been increasingly shaped by the concept of world-class law firms. [7] The top law firms are Allens, Ashurst, Clayton Utz, Corrs Chambers Westgarth, Gilbert + Tobin, Herbert Smith Freehills, King & Wood Mallesons and MinterEllison.
[8] T92 [10] [11] Some of these predecessor companies were also generally leading companies in the Asia-Pacific region. In 2007, Arthur Robinson of Allen, Clayton Utz, Freehills and Stephen Jaques of Malleson were the top five companies in Asia Pacific in terms of mergers and acquisitions, ahead of Magic Circle`s Linklaters. [17] The Business Review Weekly (BRW) ranked these firms in their top 500 private companies based on their gross revenue:[18] In Australia`s 2011/2012 financial year, the best-selling law firms were:[19] MinterEllison is an international law firm headquartered in Australia and is considered one of the leading law firms in the Asia-Pacific region. Our teams work together in Australia, New Zealand, Asia and the UK to achieve exceptional results. The term Big Six Law Firms referred to the six largest Australian law firms prior to 2012. [1] [2] [3] [4] [5] In 2012, four companies from other countries merged or established association relationships with companies from other countries (the United Kingdom for three of them, China for one of them). [6] King & Wood Mallesons is a multinational law firm with offices in 14 countries. His predecessors included King & Wood and Stephen Jaques de Malleson, previously one of Australia`s Big Six. With approximately 169 partners and 756 lawyers, the firm offers a wide range of services ranging from competition law, commercial and regulatory law to tax law. London-based Magic Circle with offices in Australia, Clifford Chance and Allen & Overy, are not considered to be part of the same group as leading Australian law firms.
Founded in 1841, Corrs Chmabers Westgarth is an independent Australian law firm with relationships with law firms in Asia, the Americas and the Middle East. Following mergers and merger agreements announced in 2012 and 2013, Freehills and Blake Dawson joined UK law firms Silver Circle, while Allens now has an association agreement with law firm Magic Circle. As we can see, there are a number of other law firms listed here that do not belong to the “Big Six”. So who are they? Founded in 1833, Clayton Utz is Australia`s largest full-service business law firm. The company is headquartered in Sydney and employs over 1200 people, including 171 partners and 901 lawyers. Clayton Utz has lawyers across the country and features prominently in the 2020 edition of Best Lawyers Australia. The firm was named “Law Firm of the Year” in the areas of competition and construction/infrastructure. By adapting to change and independence, the company continues to grow and prosper.
Do you know how many lawyers there are in Australia? In 2019, Russell Kennedy and Aitken Lawyers merged to create a stronger practice. The merger brought together a variety of areas of expertise, including corporate and commercial law, dispute resolution law, real estate and development law, government law, geriatric and elder care law, labour relations and labour law, estate planning law, family law, rural services law and renewable energy law. The company also has a dedicated pro bono team. Ares Management Corporation, Asian Development Bank, Downer EDI, Engie Energie Services, EV Metals, Highview Power, Intermediate Capital Group, Leichhardt Industrials, Link Group, POSCO International Corporation, Stantec Australia Pty Ltd, Solar United Network and Washington H. Soul Pattinson. Virgin Australia`s administration dominated the bankruptcy market, with the aviation market more affected than other industries, partly because of government support programmes that protected a number of “zombie” companies from bankruptcy proceedings, although restructuring and distressed takeovers were a staple for most practices. These top 6 positions in Australia are not set in stone and can become interchangeable in no time. So who`s on their heels in the competition? The latest edition of Best Lawyers revealed that there are a number of other contenders. DLA Piper`s lawyers are experienced working in cross-border project teams, advising private and public clients on a wide range of matters across the business spectrum, including large mergers and acquisitions, banking, capital markets, wealth finance, project finance, restructuring and insolvency, project development, business operations, competition and regulation, insurance and real estate.
Since opening in 1882, the law firm of Sparke Helmore has come a long way with nine offices across Australia and more than 950 employees. They cover five areas of law, including commercial and commercial insurance, commercial insurance, governments, statutory lines of insurance and employment law.
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