Restructuring and Insolvency – Recent Experience

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Our experience

Advising 452 Capital in connection to the winding up and dissolution of 452 Capital.

Advising the GoodStart syndicate, operating through GoodStart Childcare Limited, in relation to the sale of over 650 childcare centres across Australia from the receivers and managers of ABC Learning Centres.  This transaction won Insolvency and Restructuring Deal of the Year at the 2010 ALB Australasian Law Awards.

Advising BTA Institutional Services Australia Limited in various roles in relation to the Lane Cove Tunnel receivership.  The project’s funding structure was unique and represented the first tollroad project to be financed exclusively by a debt capital markets funding solution. This is the first time that such credit wrapped bond deal has gone into insolvency in Australia.

Advising BTA Institutional Services Australia Limited and The Bank of New York Mellon, Singapore Branch (Security Trustee) in relation to the removal and replacement of Allco from the financing structure as a result of the sale of Allco Finance Group’s aviation business to Hong Kong Aviation Company and Bravia Capital Partners.  This transaction was a finalist for the Insolvency and Restructuring Deal of the Year at the 2010 ALB Australasian Law Awards.

Advised BNY Mellon Australia Pty Ltd in their role as security trustee in excess of 80 Allco Finance transactions including structured aircraft financing transactions and numerous securitisation trust transactions.

Advised the Rubicon Group including Rubicon America Trust and Rubicon Europe Trust on the restructuring of Australian and offshore debt facilities.

Advised Australian Discount Retail (ADR), Australia’s largest discount variety retailer, with 402 stores around the country, on various restructurings of its loan facilities with NAB, ANZ and BOS International (Australia).

Advised Panamsat Asia (now Intelsat Asia) and the Receiver of Television and Radio Broadcasting Services Limited (TARBS) in respect of the TARBS collapse.

Advised A major private equity fund in relation to a failed investment in a manufacturer/retailer. Our team advised the fund on directors’ duties relating to insolvent trading, and the rights of secured/unsecured creditors in insolvency.

Advised Fortia Funds Management (FFM) on the design and construction documentation for a 20 storey mixed residential and retail development and a further 20 lot luxury apartment complex, both located in Townsville. Negotiation of related contracts for the developments, contract administration, and advice on corporate and insolvency issues.

Advised Royal Commission with the inquiry into the collapse of HIH Insurance.

Advised Gowing Bros Limited in relation to the voluntary administration of G Retail Limited.

Advised the administrators of Opentel in relation to numerous legal issues arising during the administration, including making an application to the Supreme Court of NSW for the administration period to be extended.

Advised a Babcock & Brown subsidiary and its directors on the restructuring of secured debt and convertible notes raised for an investment in the oil and gas industry.

Advised a major UK bank in relation to the implementation of standstill arrangements for OZ Minerals Limited.

Acted for a company in defending proceedings brought by the Liquidators of Harris Scarfe Limited for the recovery of alleged preference payments.

Advised Arctic Capital Limited in its recapitalisation of the Living and Leisure Australia Group and associated refinancing of distressed senior and mezzanine debt facilities.

Advised the board of Babcock & Brown Power on directors duties and related solvency issues and restructuring options.

Advised Centro, a substantial holder of exchangeable notes, on their rights in the context of an insolvency event occurring in relation to Centro.

Advised numerous banks in relation to the implementation of standstill arrangements and the restructuring of debt packages, including complex intercreditor arrangements, and voting entitlements.

Advised Iain Dunstan and Simon Woodfull (through their companies Shiamist and Gardun), Directors of Bravura Solutions Limited, in the Supreme Court of NSW in a dispute over their margin loan facilities with financial services provider Lift Capital, now in liquidation.

Advised the board and management of PBL Media in relation to statutory disclosure and related issues arising from forecast covenant breaches of debt facilities.

Advised PWC in their capacity as voluntary administrators and deed administrators of Telminx NL, an Australia tin mining company.

Advised a major private equity fund in relation to a failed investment in Sheridan. Our team advised the fund on directors’ duties relating to insolvent trading, and the rights of secured/unsecured creditors in insolvency.