Shane Stewart Special Counsel

Meet Shane

Shane is a corporate disputes lawyer who has experience in a range of areas including corporate, insolvency, resources and competition matters.

He has unique experience and skills having acted on both contentious and non-contentious matters for 10+ years. His focus is on using his technical and strategic skill to solve novel and complex problems and disputes.

Shane has significant experience acting in contested takeovers matters and in schemes of arrangement representing both bidders and targets. He has appeared in the Takeovers Panel on many occasions. Large disputes in which he has been involved include judicial review proceedings arising out of the Takeovers Panel proceedings in Finders Resources Limited 03R, acting for the Insurance Commission of Western Australia on aspects of its funding of the litigation between Westpac and The Bell Group Ltd and acting in an ICC arbitration concerning international supply arrangements.

In addition to his contentious experience, he regularly advises on complex legal issues and contractual and statutory construction. He has particular expertise in competition law and regulation, having advised in the context of a range of M&A transactions, joint ventures and commercial arrangements. He has participated in proceedings before the UK Competition Commission and European Commission and conducted competition law investigations and compliance audits.


Mergers & Acquisitions

Ausdrill (ASX: ASL)

Advised on multiple acquisitions and disposals, capital raisings and corporate governance matters including its A$697 million acquisition of Barminco (and associated A$250 million equity raising); its A$66 million disposal of Drilling Tools Australia; its A$60 million acquisition of Brandrill (ASX:BDL) by scheme of arrangement and its defence of a hostile A$485 million takeover offer from an ASX-listed competitor.

Eastern Field Developments Limited (a special purpose bid vehicle owned jointly by the Provident Group, PT Saratoga Investama Sedaya Tbk, and Merdeka Copper Gold Tbk)

Advised on takeover specific matters regarding Eastern Field Developments Limited’s off market takeover offer for all shares in ASX-listed Finders Resources Limited.

Macmahon (ASX:MAH)

Advised on its transaction with PT Amman Minerals involving the acquisition of A$194 million of mining equipment in exchange for a controlling stake in Macmahon and the award of a A$3.9 billion mining services contract in Indonesia.

BP, MIMI, PetroChina, Shell and Woodside

As participants in the Browse FLNG Development - Advised on changes to the maritime boundaries of petroleum retention leases (including associated State and Commonwealth legislation).


Advised on the Browse LNG joint venture.

British Columbia Investment Management Corporation

Advised on the purchase of a 9.99% stake in Glencore Agricultural Products from Glencore plc for an aggregate consideration of US$624.9 million payable in cash upon closing (valuing 100% of the equity in Glencore Agri at US$6.25 billion).

Consortium of infrastructure investors

Advised on their bid for Veolia Water UK’s regulated business (now branded Affinity Water).

Centro Properties directors

Advised on Australia’s most high-profile restructuring, involving the disposal of a US$8 billion US retail property portfolio and the re-capitalisation of the Australian listed group.

Apache Corporation

Advised on the acquisition of 49% of Burrup Holdings Limited (the owner of an ammonium fertilizer plant in the Burrup Peninsula region of Western Australia) from ANZ Bank and related matters.

Equity Capital Markets

Ausdrill Limited (ASX:ASL)

Raising $250 million through an accelerated non-renounceable entitlement offer in connection with its $697 million acquisition of Barminco from private equity interests.

Liquefied Natural Gas (ASX:LNG)

Advised on an A$28.2 million placement by IDG Energy Investment Group Limited.

Various investors (including D. E. Shaw Group, Senrigan Capital and commodities trader Noble Resources)

On restructures of $132 million of convertible notes in Sundance Resources (ASX:SDL).

TNG Limited (ASX:TNG)

On a placement to raise approximately $10 million and an SPP to raise a further approximately $4 million.

Todd River Resources (ASX:TRT)

On its placement of a 19.99% strategic stake to S2 Resources (ASX:S2R) and accompanying shortfall placement to raise approximately $5 million.

Senrigan Capital

Advised on its challenge to Yancoal's 23.6 for one renounceable entitlement offer and placement to raise up to US$2.5 billion.

Quickstep (ASX: QHL)

Advised on its $22 million capital raising by institutional placement and entitlement offer.

Dispute resolution

Eastern Field Developments Limited (a special purpose bid vehicle owned jointly by the Provident Group, PT Saratoga Investama Sedaya Tbk, and Merdeka Copper Gold Tbk)

Acted as lead counsel for the bidder on Takeovers Panel proceedings: (1) Finders Resources Ltd [2018] ATP 6; (2) Finders Resources Limited 02 [2018] ATP 9; and (3) Finders Resources Limited 03R; and Federal Court judicial review proceedings.

NASDAQ-listed solar company

Acted in an ICC arbitration against a Taiwanese party, the dispute arising out of a joint venture for the operation of a solar cell production facility in Asia (San Francisco seat).

Apache Corporation

Acted on various joint venture disputes with Santos.

Lanco Infratech Ltd and Griffin Coal

Acted against Perdaman Chemicals and Fertilisers in relation to $3.5 bil claim arising out of a coal supply agreement.

Insurance Commission of Western Australia

Advised on aspects of its funding of the Bell Group litigation.


Recognised as a recommended lawyer in Capital Markets.
Asia Pacific Legal 500, 2018

Career & qualifications


  • Bachelor of Laws (First Class Hons), University of Adelaide
  • Master of Laws, University of Chicago


  • Member, Competition Committee of the Business Law Section of the Law Council of Australia
  • Chair, Commercial Law Committee of the Law Society of Western Australia
  • Law Society of Western Australia
  • Law Society of South Australia
  • American Bar Association
  • Member, ASIC WA Regional Liaison Committee

International experience

  • Shane’s international experience includes working in London for Clifford Chance LLP.
  • Member of the New York Bar.

Insights Read more insight

Receiver distribution of assets permitted despite objections

The latest decision in the external administration of Mirabela is a reminder of the utility of the section 424 directions process for receivers, and an example of the steps to be taken in the face...

Security for payment in scrip transactions: a viable option in Australia?

How can novel structuring and proper care achieve security for payment in scrip transactions?



External publications