Rimon Law Appoints Former Gibson Dunn Restructuring Head To Lead Global Restructuring Group
Rimon Law, a San Francisco-based law firm known for its innovative, distributed structure, has appointed Troy Doyle as partner and leader of its global restructuring group. Doyle, based in Singapore, was previously associated with Gibson Dunn & Crutcher, co-headed their business restructuring and reorganisation practice.
Troy Doyle, with more than 20 years of restructuring experience in Asia, has operated across various Asian markets, including Singapore, Indonesia, Hong Kong, Greater China, Vietnam, and Australia. During his career, he successfully restructured debt and equity totalling over $62.9 billion, as reported by Rimon. Prior to joining Rimon, Doyle held leadership roles in the practice groups at both Reed Smith and DLA Piper.
In his new capacity, Doyle will oversee Rimon’s restructuring services across Asia, the US, and the UK.
Rimon, established in 2008, seamlessly blends features from both virtual and traditional law firms. In recent years, the firm has expanded its presence by inaugurating offices in Seoul and Shenzhen.
According to the firm, Rimon stands out as a highly discerning entity that challenges entrenched industry norms. It rejects practices such as the billable hour, outdated hierarchical structures, and management-controlled client fees — practices that often squander time and resources for both lawyers and clients. Instead, Rimon adopts a partner-focused model, ensuring that work is handled by experienced partners rather than costly associates.
Doyle joins the firm during a period of strategic transformation. Rimon aims to modernise its restructuring practice, aligning it with client expectations for flexible fee structures and targeted resource allocation. In a statement, Doyle emphasised that he is also restructuring his own legal practice, a move prompted by in-depth client consultations.
Doyle stated that during consultations with clients, three primary requests emerged. Firstly, there is a call for genuinely flexible fee structures, tailored to each unique restructuring endeavour. This involves moving away from hourly billing, incorporating success fees, and extending such arrangements globally. Secondly, clients seek ongoing support and direction from experienced partners throughout the process, minimising costs associated with mid-level lawyers. Lastly, there is a demand for seamless global connectivity among partners of equal calibre, particularly those with collaborative experience across Asia, the US, and the UK.
Doyle underscored that Rimon’s lead partners enjoy the freedom to tailor billing arrangements according to client needs, rather than adhering to a centralised mandate management system. This flexibility is an appealing aspect of Rimon’s approach. At Rimon, innovative and adaptable fee structures serve as the foundation, rather than mere negotiation points. Ensuring certainty in fees during restructuring processes is of utmost importance. The traditional concept of hourly billings can be replaced with flat fees, milestone-based charges, equity-linked components, and success fees. Importantly, these legal fees are not dictated by management but are determined by the lead partner and their respective team.
Doyle added that the legal sector has lagged behind in adapting to the flexibility needed for each restructuring, a demand increasingly voiced by clients. Change was inevitable, and now it is here.