Restructuring & Insolvency

The restructuring and insolvency market in Australia has fundamentally changed.

The challenges highlighted by the Financial Services Royal Commission, the demise of many smaller players in the industry and a greater emphasis on strategy advice and action, rather than routine enforcement work, all require new perspectives and innovative thinking to help minimise the impact of restructuring and businesses in distress.

How can we help?

Clients turn to us for our technical competence and expertise in conducting complex, large-scale and often multi-jurisdictional restructurings and insolvencies which require extensive legal capability and bench depth in resources. We have significant expertise in safe harbour and informal workouts, as well as orthodox enforcement.

We advise on:

  • Restructurings and workouts;
  • Distressed opportunities;
  • Formal insolvency regimes; and
  • Security enforcement.

Harnessing the depth of our experience to suit your unique business objectives

Recognised for handling some of Australia's most significant restructurings and insolvencies, we bring together experts from across all necessary disciplines to develop strategies that mitigate risk and maximise opportunities.

At the forefront of global trends and restructuring techniques

Our international reach through our Linklaters alliance, and our experience acting in cross‑border restructuring and insolvency situations enables us to offer a seamless service wherever you need us.

Experience

Quintis Group Receivership

Acted for the secured US Bondholders in relation to all aspects of running the business, as well as a sale and recapitalisation process. The insolvency had a number of cross-border elements as the business had substantial assets and debt in the US.

Network Ten Administration

Advisor to Fox Sports Australia Pty Ltd in relation to its licensing and broadcasting arrangements with Network Ten following Network Ten's administration.

One Key Workforce

Acted for the liquidators of One Key Workforce Pty Ltd, which became insolvent after its Enterprise Bargaining Agreement was declared void by the Federal Court. The complex issues involved in the liquidation required detailed consideration of administrative, insolvency and employment law.

Wiggins Island Coal Export Terminal

Acted for CBA as the senior agent for a syndicate of 20 domestic and international banks to the Wiggins Island Coal Export Terminal on a proposed refinancing of its $3.8 billion debt.

Largest restructuring in education sector in Australia

Acted for the liquidators of Careers Australia Group Limited and various subsidiaries in respect of public examinations of the former auditors of the group; and in an unfair preference claim against the former auditors of the group.

Elders workout and restructuring

Acted for the senior lenders in relation to the workout and restructuring of the Elders financing arrangements.

Receiverships of major transport infrastructure

Acted for the lender-appointed Receivers and Managers of BrisConnections on the sale of the AirportlinkM7 toll road for $1.87 billion to the Transurban Queensland consortium and the receivers appointed to the Cross City Tunnel’s most recent receivership.

Opes Prime collapse

Acted for a lender in the collapse of Opes Prime, including the schemes of arrangement for the Opes companies. We also advised on potential claims by the liquidators as well as regulatory issues, including an ASIC investigation regarding the collapse.

Intergen receivership - Callide C Power station

Acted for Ferrier Hodgson as receivers and managers of the Intergen group's interest in the Callide C power station.

Cubbie Group Voluntary Administration

Advised McGrathNicol in its role as voluntary administrator of the Cubbie Group of companies. This was a very high profile matter, covering the largest aggregation of irrigated land in the Southern Hemisphere.