More Australian law firms are turning to the resources sector in response to slowing capital markets, says Derek Pocock, a partner at McCullough Robertson.

 

Pocock claims the value and volume of his resources work have largely remained unaffected by the current economic conditions, expecting his workload to remain the same as it has been for the past six months.

 

“Despite a fairly sharp drop in debt financing, we have done a lot of transactions around the A$100m mark. The resources sector and commodities will continue to be hot and keep firms busy,” said Pocock.

 

“As for other sectors, there will be opportunities for companies with plenty of cash or conservative gearing, particularly if asset prices continue to drop,” he added.