There has been much secrecy surrounding which law firms had been advising clients on the federal government's National Broadband Network (NBN). However, ALB has confirmed that Corrs Chambers Westgarth, Clayton Utz, Holding Redlich, Mallesons Stephen Jaques, and Allens Arthur Robinson were the initial advisers on NBN.

Partners Caroline Lovell and Michael Reede led the Clayton Utz team for Optus, Holding Redlich managing partner Chris Lovell advised Acacia consortium, and Mallesons' Neil Carabine acted for Telstra. While Allens partner Ian McGill was unable to name his client, anonymous sources suggest he was the lead lawyer acting for Axia NetMedia.

It is still unclear as to whether Corrs' Andrew Messenger  will continue advising the independent expert panel at the Department of Broadband, Communications and the Digital Economy. Other legal practitioners who have also been on the panel include Australian Government Solicitor's John Scala and Garth Cooke, solicitor-general Stephen Gageler and some internal government lawyers. However, it appears that the same firms and lawyers will continue to advise their clients on the NBN.

The Rudd government's recent move to scrap the tendering process for NBN and establish its own government-owned company to create the network came as quite a 'shock' for some firms. "It put the broadband project on a different playing field - a different planet even - and that caused some degree of consternation," said McGill. "It is the case with any request for tender that there is risk of not winning - it's just a risk of the game."

Mallesons was unable to comment on the new plan. However, partners from some firms acting on the bid believe the new plan will give Telstra a second chance at involvement in the NBN plan. The telco was excluded from the tendering process in December, after failing to submit a small and medium business participation plan.

Other firms believe that acting on the initial bidding process was still a worthwhile experience even though the tendering process was terminated. "All that effort was certainly worth doing. The technology issues are really fascinating and it was a very interesting process," said Lovell.

Very little information has been released about the new plan, apart from the fact that it will roll out fibre optic cable to 90% of Australian homes and businesses. The remainder will be connected via next generation wireless and satellite technology. Funding will be part public and part private, and the network will be wholesale and independent of Telstra, to ensure that telecommunications and internet providers are treated equally.

Lawyers specialised in telecommunications are watching the A$43bn project closely, according to Lovell. "A$43bn is such a big deal! All firms with telco experience will be looking at it closely, as it will bring massive work flows in contract work, financing, debt, and advice on regulatory matters," he said.

There will be significant work on corporate governance, equity participation, ownership and control rules, and understanding the Aussie bond structure that will finance the NBN. "It's a lot of money to raise, but there seems to be plenty of money around that needs a good home. From what I have seen virtually every recent equity or bond issue was fully or over subscribed. It will depend on the terms of the bond, and whether there is a secondary market for them," said Lovell.

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