April 2025: Valarie Brewer (associate) and Ashleigh Tang (counsel) work in our Financial Restructuring and Insolvency Practice in Sydney. We asked them to tell us about their work, why it's a great time to join the team and what's most exciting about working in this area.
Let's start off with an overview of the work that you do and the clients that you work for.
Valarie Brewer: We have a very broad practice that spans all aspects of restructuring distressed businesses, acting for insolvency practitioners, advising on creditor rights and working on strategies for litigation that get our clients the outcomes they need.
Ashleigh Tang: We could be acting for the distressed company itself, acting for an insolvency practitioner appointed to the company (e.g., a voluntary administrator, receiver, liquidator, etc.), acting for one or more of the company's lenders, or acting for an incoming investor that has a turnaround plan in mind.
“We get to wear a lot of different hats”
What's most exciting about the work that you do?
VB: The variety; we get to work on a really wide range of matters, and we get to wear a lot of different hats. We might be working on advice on enforcement strategies one day, appearing in court the next and considering matters relating to the day-to-day trading of a company currently under appointment the next.
AT: I really enjoy the pace at which our matters move—decisions need to be made quickly and the stakes are often high. Coupled with this, every business is different, so there is no "one size fits all" approach to a restructuring solution.
And what's most challenging?
VB: Our matters tend to have a tight timeframe and can be very busy. However, this tends to make the work very exciting, and you do get a certain rush from it all. It is also a practice where you need to be on top of a lot of diverse areas of law and keep up-to-date with regime changes.
AT: The nature of restructuring work is to bring a whole range of stakeholders together to achieve an outcome that sees a distressed business survive (and return to solvency). The most challenging part of the role is negotiating with each of these parties to achieve a resolution that works for everyone.
For an ambitious associate, why is now a good time to join this team?
VB: This is a practice group where you can really get involved right from a junior level. I think it's such a brilliant opportunity to learn and develop at an accelerated pace.
AT: We have a wide range of complex and creative matters on the go for a variety of different clients. Private credit players are more active in the restructuring space than ever before, and bring to the table a range of creative solutions that test the boundaries of the restructuring landscape.
“There is a great safety net to make sure you are on track”
How much client contact/responsibility can an associate expect?
VB: As an associate, you get a fair amount of client contact and responsibility, but it feels very safe. We have a really healthy level of senior supervision in our team. You will be responsible for updating the client and being a point of contact, but we work very much as a team and collaboratively, so you aren't quite thrown in the deep end, and there is a great safety net to make sure you are on track.
AT: Our associates attend client calls and meetings. They also participate in industry and business development events, all of which develop their client relationships.
“You really feel like the team is rooting for you to develop and grow”
Tell us about the practice culture in the FRI team.
VB: This is a team that is very collegiate and very supportive. We are a very busy team, but everyone works hard to make sure things are progressing and that no one person is shouldering all of the work. Mentorship from seniors is wonderful, and you really feel like the team is rooting for you to develop and grow. Feedback is ongoing and productive, and there is not a cap on expectations—if you show that you want to be involved and learn, the team is going to make sure that it will happen for you.
AT: We are a really close team and are very supportive of one another and respectful of everyone's personal life. We have regular check-ins to make sure that our matters are appropriately resourced and everyone is feeling supported. Our partners are very focused on the development of each individual team member and try to ensure that everyone has the opportunity to develop each of the skills needed to be a successful restructuring lawyer. I personally like to take the time to share knowledge and to give fulsome instructions to assist our team members develop their own technical skillset.
