Serge Radojevic – GC Powerlist
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Australia 2019

Serge Radojevic

Manager – legal and commercial | Idemitsu Australia Reseources

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Australia 2019

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Serge Radojevic

Manager – legal and commercial | Idemitsu Australia Reseources

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What are the most important transactions and litigations that you have been involved in during the last two years?

Muswellbrook Pumped Hydro: Project lead on the ongoing development of a pumped hydroelectric facility utilising Idemitsu’s old mining void as a lower reservoir: enabling an innovative rehabilitation solution to be integrated with renewable energy generation. This is to be achieved through a collaboration and joint studies with AGL, which has rights to develop an upper reservoir on nearby Bells Mountain. I have negotiated the agreements for joint feasibility studies or the project including design, engineering and geotechnical investigations, as well as commercial arrangements between the parties.

PBE Mining Technology: negotiated the establishment of a collaboration with PBE Technologies at Idemitsu’s Ensham Mine near Emerald, Queensland to develop and prove up technology that will revolutionise underground mining. The PBE mining method will unlock significant additional reserves by targeting much thinner coal seams without the need for underground roof bolting: seams that were previously not capable of being mined efficiently. More importantly, it will make underground mining much safer by completely removing personnel from the underground coal face environment through a high tech remote navigational system.

The establishment of the mining trial involved two years of negotiations and contracts involving managing complex stakeholder relationships between our Japanese parent company, South Korean joint venture partner (LGI) and PBE’s Australian founders and US investors. The suite of contracts for the trial is more than A$150m in contract mining value, but the real scale of the project is that once it’s successful, it unlocks for Ensham Mine over 100 million tonnes in coal reserves, and will open these opportunities up across the rest of the mining industry.

Tarrawonga Coal 30% divestment in 2018: I led the divestment of Idemitsu’s 30% holding in Tarrawonga Coal Mine to Whitehaven Coal, after a lengthy M&A process between shortlisted tenders that included the exercise of pre-emptive acquisition rights and a complex share purchase agreement and associated M&A contracts package.

How do you suggest in-house lawyers build strong relationships with business partners?

Take a step back and consider that the traditional role of the lawyer as learned counsel operating separately to the business is outdated and is suitably seen by the rest of the modern business world as a lawyer destined for the ivory tower. In house lawyers need to roll up their sleeves and enter the fray alongside their business colleagues to deliver the business strategy and achieve the collective goals. This is not to say that the in-house counsel abandons their role as custodian and guardian to the business and its officers – quite the contrary as this is paramount.

It is striking this balance that is the art form of being an effective in-house counsel. My advice to navigating this delicate balance is to keep in mind that an in-house counsel goal should not be that of a perpetual people-pleaser – to be liked by all – but rather to be respected by those colleagues who have the long term interests of the business (and the team that comprises it) at heart.

What “legal tech” products do you currently utilise, and do you foresee implementing more of these in the near future?

I use PowerBI to better manage our external legal spend and productivity. I have found it excellent for visualisation and actionable insights from our spend and matter data. Law firms (through innovative matter and spend management systems of their own) have really come to the party in terms of providing the information I need to have this analysis completed.

We also use Contract Works, an integrated web based contracts database, contract approval system and electronic signing capability that has made contacting far more efficient for our organisation.

What do you predict will be the biggest change in the legal market in your sector over the next few years?

The continuing rise of contracted lawyers embedded into in-house teams for specific projects such as through services such as Lawyers on Demand and PeerPoint. I think the nimbleness of these firms and the quality of the product for a clear cost represents a good value proposition and strong potential for traditional law firm model disruption.

What do you feel are the most effective techniques for getting the most out of external counsel, in terms of how to instruct them?

Regular contact with relationship partners for matter management meetings. I think that these, if structured well, can be incredibly effective in maintaining the focus of legal service providers on your in-house priorities and help you manage cost and quality.

I also think that alternative cost structures such as fixed fees, milestone payments and pain share/gain share are very effective in the right context and help maintain alignment of priorities between your business and your legal service provider.

How much influence do you have on the diversity and inclusions policies of your organisation?

I am fortunate in working for a company that embraces it’s unique blend of Japanese and Australian management as one of its greatest strengths. Starting from this solid base, efforts to further strengthening our diversity are embraced. I take an active role in continuing to improve our organisation in this regard, with our current efforts very focused around growing the number of women on our management team. This is an initiative I am passionate about not only at the organisational level but very much so at a team level in helping the women in my team on a day-to-day level in developing them in their management journey.

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