Case Study: Exactech

We acted for Exactech, Inc a global orthopaedic device manufacturer that filed for US chapter 11 in the Bankruptcy Court for the District of Delaware.

Exactech was a defendant, together with a local subsidiary, to a class action in the Federal Court of Australia.

Working closely with Exactech's US counsel Ropes & Gray, as well as the lenders into the chapter 11 bankruptcy, we obtained recognition of the chapter 11 bankruptcy from Justice Halley in the Federal Court of Australia, which stayed the class action proceeding against that entity. We ultimately achieved a resolution of the class action, complicated by the need for interdependency with the plan of reorganisation in the chapter 11 bankruptcy and the need to obtain court approval of the settlement, while keeping the Australian subsidiary out of any insolvency process.

Get in touch

Disclaimer
Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.