Jones Day has hired the head of Milbank's APAC restructuring practice in Sydney.
Nicholas Dunstone has joined the firm's business restructuring and reorganisation practice as a partner, bringing more than 25 years' experience advising on complex cross-border restructuring and insolvency matters across the Asia-Pacific region and globally.
Heather Lennox, who leads Jones Day's 100-lawyer business restructuring and reorganisation practice, said Dunstone's track record of representing creditors, distressed investors and debtors across multiple jurisdictions "gives him the ability to see restructurings from every angle".
Dunstone spent just over three years at Milbank as a partner working across Singapore and London. Before that, he spent 11 years as head of restructuring at hedge fund manager Asia Research & Capital Management in Hong Kong, and earlier practised at firms including Clifford Chance and legacy Cadwalader Wickersham & Taft. He is admitted as a solicitor in England and Wales and as a barrister and solicitor of the Supreme Court of South Australia and NSW.
Jones Day says it has recruited five partners since the start of 2026 and 13 since mid-2024, when it kicked off a growth strategy across areas including M&A, private equity, finance and disputes, as well as restructuring.
Chris Lovrien, partner-in-charge of Jones Day's Australia region, said one focus of that growth push had been "to build a world-class practice representing financial institutions, investors and corporates in cross-border finance, private credit, distressed finance and work outs", adding that Dunstone's hire would support that aim.
"Nick built one of the leading restructuring practices in Australia early in his career and went on to develop an extensive network across Asia-Pacific and global financial centres, which makes him a tremendous asset to our clients,” said John Cooper, partner-in-charge of Jones Day's Sydney office. “His arrival will strengthen our ability to serve clients on complex cross-border restructuring matters that connect Sydney to Singapore, Hong Kong, London and beyond."
Prominent recruits include a three-partner Melbourne litigation team which joined from Corrs Chambers Westgarth in March — Matthew Critchley, Alicia Salvo and Brendon Clarke – while class action defence specialist Christine Tran joined from HSF Kramer in October last year.
However, the firm has also seen some departures from its disputes practice. Daniel Moloney joined Gilbert + Tobin in September 2025 in Melbourne; Sydney partner Holly Sara followed in his footsteps in December, while veteran litigator John Emmerig moved to Thomson Geer in January 2026.
Milbank, meanwhile, has seen a number of senior exits across Asia this year, including the managing partner of its Seoul office, David Cho, who left for Dechert in Singapore in May. In February, partner Andrew Pendleton also joined Mayer Brown in Tokyo as head of project finance for EMEA and Asia, with a counsel and special counsel making the move with him.
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