Media release: Clayton Utz advises Exactech, Inc. on Australian aspects of global restructure

The firm supported Exactech in obtaining Australian recognition of the chapter 11 pursuant to the UNCITRAL Model Law on Cross Border Insolvency as incorporated in the Cross-Border Insolvency Act 2008 (Cth).

Exactech's chapter 11 plan of reorganisation, which included the sale of substantially all of Exactech's assets to a new entity controlled by its lenders, Advita Ortho LLC, completed with an effective date of 31 October 2025.  Consequently, on 13 November 2025 Justice Jackman of the Federal Court of Australia approved the settlement of a class action brought against Exactech and its Australian subsidiary.

The team navigated complex issues in relation to cross border insolvency, the maintenance of the solvency of the Australian Exactech entity, and the still novel (in Australia) intersection of a personal injury class action with insolvency processes.

R&I partner Maria O'Brien led the Clayton Utz team alongside Suami Campos, Noah Harris and James Artemi. The team had key support from class actions partner Greg Williams alongside Sheena McKie, as well as support from Exactech's US restructuring counsel Ropes & Gray. Counsel for Exactech in the Model Law application was Emma Beechey. A&O Shearman acted for the Australian Exactech subsidiary, Wotton Kearney acted for the Exactech entities in the class action, and Ashurst acted for the lenders.