
Restructuring and Insolvency
Restructuring and insolvency lawyers providing expert guidance for clients facing financial distress
The restructuring and insolvency group at McCullough Robertson provides practical, expert legal advice across a broad range of sectors, particularly mining, mining services, property infrastructure and retail. Our team has a balanced practice and experience in acting for a wide range of stakeholders in any distressed scenario, including corporates, insolvency practitioners, creditors, government entities, shareholders and directors. With a deep understanding of both financial and legal landscapes, we develop tailored strategies designed to mitigate risk, enhance value, and align solutions with your business’s specific goals
Dealing with financial distress
When a business is in financial difficulty, the priority of the company should be to preserve value and to avoid a formal insolvency process. In order to seek to preserve value, a company should consider debt negotiations with its lenders, operational restructures and potential recapitalisation options. Working with our corporate and finance teams, our team is well placed to assist distressed companies and their key stakeholders in understanding the relevant legislative and contractual framework, as well navigate the complexities associated with dealing with a company in financial distress
When insolvency is unavoidable, we can assist you with tailored solutions
A formal insolvency process should only be used where either a solvent solution is unavailable, or as a tool to implement a financial restructuring or recapitalisation of a business. When a formal insolvency process becomes unavoidable, we can assist in undertaking pre-insolvency planning to ensure that the insolvency process is well managed and achieves a positive outcome. Our team has experience in administration, liquidation and receivership procedures in Australia and abroad and can guide you through the relevant restructuring and insolvency processes.
Proven track record in resolving complex insolvency disputes
Insolvency related litigation, or the threat of it, becomes prevalent in distressed companies. Unsurprisingly, key stakeholders such as creditors, investors and debtors seek to protect their interests resulting in disputes and asset enforcement. Our team of insolvency litigation experts can assist you whether you are dealing with an immediate challenge or the need to undertake planning to protect assets in the future. Whether you are a creditor, director, insolvency practitioner or shareholder our team will work towards developing a practical, solution-oriented approach to mitigate risk and preserve value.
Comprehensive support across all stages of the restructuring process
Whether you are facing imminent insolvency or managing the fallout of financial distress, we provide seamless support throughout every stage of the process. From turnaround strategies to formal restructuring, our team brings extensive experience to resolve matters efficiently and effectively.
No matter the complexity, we are committed to finding the right solution for your unique situation. Always
To find out more, please contact Chris Barr.
Our legal expertise
Pharmaceutical industry
Acting in a dispute about rights to shares, and other entitlements, in a group of companies in the pharmaceutical industry. Proceedings were conducted in both the USA (Texas) and Queensland and involved a series of complex factual and legal allegations. The proceedings were resolved on confidential terms.
Pharmaceutical industry
Acting for a pharmaceutical client in its capacity as the proposed acquirer, by deed of company arrangement (DOCA), of the shares in an ASX listed entity with assets in Australia and the USA. We assisted the client in preparing the successful bid in a competitive bidding process, development of a proposal for a DOCA, and steps to implement the DOCA including lengthy negotiations about performance issues.
Elution Metals
Acting for Elution Metals in relation to claims against the receivers of the company in Federal Court proceedings which determined whether the receivers were authorised to sell assets which were subject of security interests held by our client; whether our client could compel preliminary disclosure of information relating to the sale; and whether the receivers could seek orders preventing our client from reliance on certain materials the subject of relief in earlier proceedings.
Nutrano Group – water rights dispute
A secured creditor appointed receivers over the assets of a third-party land-owners irrigator and a dispute arose about whether our client had rights to terminate the access license (and exploit the water access rights). The dispute was the subject of proceedings conducted in the Supreme Court of Victoria on an expedited basis, and which resolved prior to hearing on confidential terms.
Deloitte – Avestra Group
Acting for the liquidators (of Deloitte) appointed to the Avestra Group of companies, which operated a number of failed managed investment schemes. In particular, we acted in a proceeding in the Federal Court of Australia brought against the former directors of the companies for breach of various fiduciary duties in relation to the investment activities of the group. The proceeding was contested and was resolved on confidential terms.
PWC – failed managed investment schemes
Acting for liquidators appointed over a company which was the trustee of various unregulated managed investment trusts. We acted in contested proceedings to obtain orders for the appointment of the liquidators as receivers over the assets of the trust have subsequently assisted in relation to the realisation of the trust assets, and to take steps to distribute the proceeds and wind up the trusts.
McGrathNicol – Eureka Housing Society (in liq)
Acting in proceedings on behalf of Eureka Housing Society (in liq) and its liquidators, who were appointed by Queensland Treasury Corporation in its capacity as regulator. The proceedings were against Eureka’s director for breaches of various duties and were the subject of various contested applications and reported judgments.
Safe harbour appointment
Assisting in implementing a ‘safe harbour’ restructuring plan and subsequent appointment of voluntary administrators. We continued to be engaged by the companies, and their appointed voluntary administrators, to assist in the development of a proposal for, and implementation of, a DOCA and which resulted in the transfer of the companies to a previous equity participant.
Financial services industry
Advising the foreign parent company of a multinational group providing small credit loans, on implementing a restructure to divest its Australian subsidiary, which resulted in the appointment of liquidators. Also advising our client in relation to the ongoing conduct of the liquidation.
Financial services industry
Acting for a bank in a dispute with the Commonwealth Government about the entitlement to funds held by the bank, and which the Commonwealth claimed were the subject of priority employee claims pursuant to section 561 of the Corporations Act 2001 (Cth).
Your restructuring and insolvency team
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