27 April 2006
Key Points:
Our national Recovery & Insolvency team was successful at the recent ALB Australasia Law Awards 2006.
We won the Insolvency & Restructuring Deal of the Year for our involvement in the Australian Growth Limited matter. The deal concerned an insolvent prescribed interest scheme, four managed investment schemes involving 11,000 hectares of tree plantations, approximately 1,500 investors, five corporate and trust structures, listed and unlisted on the ASX, and $30m of investor and bank moneys. The matter was very complex involving various novel ASIC and ASX applications. We worked closely with administrator Simon Read of PPB to restructure and recapitalise the schemes and return the entities to the investors and a new responsible entity.
Clayton Utz has been actively engaged in restructurings and workouts undertaken by Australian enterprises under capital stress, Other examples of our experience in the public arena include the restructure of Epic, Pasminco, and Anaconda Nickel. One of our strengths in this area is our ability to bring private equity, capital markets, financial restructuring, tax and other relevant expertise together to develop legal structures that allow debt and equity to be restructured, renegotiated or renewed.
If you require advice or would like additional information about Clayton Utz and our reconstruction and workouts expertise, please contact any Karen O'Flynn at koflynn@claytonutz.com.
