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Herbert Smith Freehills advises Waitsia joint venture in connection with clough administration

A cross-office Herbert Smith Freehills team, led by the firm’s Perth office, has assisted Mitsui E&P Australia (Mitsui) and its 50 per cent joint venture partner, Beach Energy, in connection with the voluntary administration of Clough, the contractor responsible for the construction of the joint venture’s Waitsia Stage 2 gas project.

Herbert Smith Freehills advised the joint venture in relation to all aspects of the matter, including engagement with Clough’s administrators, Deloitte, to ensure employee wages, subcontractors and suppliers continued to be paid and ultimately the negotiation of an agreement with Italy-based construction company Webuild to complete the Waitsia Stage 2 gas project.
The agreements, with both Clough’s administrators and Webuild, have ensured that the Waitsia Stage 2 gas project works have been able to continue notwithstanding the administration.
“This was an important fast-paced matter for Mitsui and its joint venture partner Beach Energy, demonstrating the depth of our team and our ability to leverage resources across the country for our clients. This matter is an example of Herbert Smith Freehills’ leading role in ensuring the continued stability of Western Australia’s energy and infrastructure industry,” said Perth corporate energy partner Graeme Gamble, who led the team advising Mitsui and Beach Energy.
Mr Gamble was assisted by restructuring and insolvency partners David John and Mark Clifton, construction partners Toby Anderson, Dan Zador and Dan Dragovic and employment partner Anna Creegan. Support was provided by executive counsel Derreck Goh; senior associates Frances Hewitt, Laurelle Ko, Laura Bowlt, Michael Lake, Catherine London, Mila Banovic, Sam Edwards and Kathryn Maric; and solicitors Annabel Seow, Josh Kain, Sakura Kajimura and Jessie Sun.
Mitsui and Beach Energy were advised by Hebert Smith Freehills and KordaMentha.

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