Current Practice

Paul King joined Greenwoods & Freehills Pty Limited in December 1986 and has been a Director of the firm since 1 July 1988.

Industry Experience

Paul has extensive experience in providing general corporate advice with a particular emphasis on the finance and property industry, his clients including some of the major participants in this industry, being banks, other financial institutions and large development/construction companies. The advice has covered all facets of borrowing, lending and investing, as well as product development (including derivatives), cross border and leverage leasing, securitisation and reviewing the preparation of the companies tax returns. Paul has lectured and assisted in the structuring of the Securities Institute of Australia course on the Taxation of the Finance Industry and is a member of the Property Council's taxation sub-committee.

In relation to structuring financial transactions, Paul has advised Westrail, NSW Treasury Corporation, Queensland Treasury Corporate and the leading packagers in relation to cross border leases and various other financing arrangements such as the financing of car fleets and structured debt and equity issues. He has also advised on a large number of offshore debt issues in relation to compliance with withholding tax exemptions.

Paul has developed a special interest in securitisations and has advised on the GST and income tax consequences of a large number of transactions including the securitisation of credit card receivables, car leases, debts and management fee receivables. He was also involved in structuring the innovative securitisation of the lease of the Intercontinental Hotel in Sydney. Paul is a member of the Australian Securitisation Forum's Taxation Sub-Committee.

Paul has also been involved in a number of infrastructure and property projects including the Prospect Water Treatment Plant, the Hydroco hydroelectricity plant, various acquisitions of pipelines, the Appin Coal Methane Project, negotiating with the government and structuring the Olympic Village project, Fox Studios, Jackson's Landing, the acquisition and sale of Aurora Place, the Bondi Junction to Bondi rail link and a number of shopping centre developments.

Paul has also been extensively involved in research and development syndications; advising equity participants and packagers both in relation to the structuring/investing of these transactions and their unwind.

Paul has advised on the structuring and implementing of other large transactions including the acquisition of the BT Investment Banking business by Macquarie Bank; the disposition of the interest of the AMP Society in Chase AMP Bank; the domestication of Friends' Provident Life Office; the sale by the Commonwealth of the Moomba to Sydney Pipeline; the sale of a stake in Westpac by Lend Lease Corporation; Bunge in relation to the sale of its flour businesses; the Northern Territory Government in relation to the acquisition of the Darwin to Katherine transmission line. He has advised a number of offshore investors concerning acquisitions of Australian assets including the purchase by Leonard Green and Partners of the listed company, Australian Resources Limited, the subsequent listing of Australian Resources and Mining Company and the sale of the shares in a tax-free manner (this matter was successfully litigated in the case of Lamesa v FCT, which case has resulted in specific legislative amendments to both Double Tax Agreements and domestic legislation); Deutsche Bank in relation to the acquisition of Bain & Co and the finalisation of this agreement; CKI Holdings in relation to its purchase of a 20% interest in Envestra; various offshore investors in relation to the acquisition of properties and hotel assets; Billiton in relation to the acquisition of QNI; Macquarie Bank Limited's share buy back.

Professional Background

Paul holds Bachelor of Economics, Bachelor of Laws and Master of Laws degrees from the University of Sydney. He is a qualified Chartered Accountant and a Member of the Institute of Chartered Accountants and the Taxation Institute of Australia.

Paul has also lectured for the Institute of Chartered Accountants, the Taxation Institute of Australia and in the University of New South Wales Masters Degree programme on a wide range of tax related matters.