The bigger picture
We see the issues from all angles, so insolvency practitioners, secured creditors and distressed companies get comprehensive advice they can use.
Overcoming market challenges
We love a challenge. Having been retained in lead roles in many of the most significant R&I matters in Australia, we know how to develop the right solutions to minimise the impact of a restructuring or insolvency.
As the market changes, we adapt too. Our clients trust us to guide them through whatever difficulties they face and work with them to maximise the opportunities in an insolvency or restructuring.
Keeping clients connected
With lawyers in Sydney, Melbourne, Brisbane, Perth, Darwin and Canberra, clients can access the team's expertise wherever they need it.
Our team is actively involved in influential Australian and international industry associations. Our strong relationships with important industry players mean we can connect you with the right people to achieve your goals, whether you're a borrower looking for non-traditional lenders, or a seller who needs a buyer of distressed assets.
What our clients say:
Chambers Asia Pacific:
- "They are very thorough. They go that extra yard over and above the usual and genuinely try to find a solution." (2014)
- "Their attention to detail, strong partner commitment and commerciality stand out." (2015)
High-profile restructuring of Nexus Energy
The insolvency of Nexus Energy Limited (Nexus) was arguably Australia's most high-profile and involved restructuring and insolvency matter of 2014. With debts of approximately $400 million, administrators were appointed to the ASX listed Nexus when a takeover bid by an entity connected to Seven Group Holdings (Seven) (also an ASX listed company and a senior secured creditor of Nexus) was dramatically rejected by shareholders.
We acted for McGrathNicol, the administrators and then deed administrators of Nexus, throughout the course of the matter.
Collapse of Lehman Brothers
When the world's fourth largest investment bank collapsed in 2008, it was to become one of the most challenging cross-border insolvency proceedings of our time. We act for PPB Advisory, the liquidators of the Lehman Brothers Australia group (LBA).
The external administration of LBA has involved many complex challenges and we have helped the liquidators achieve a number of successes most recently obtaining approval of a scheme of arrangement, which secured significant insurance settlements, and developing and implementing a claims resolution process for 350 client creditors with claims of AUD$450 million.
Acquisition of AUD$240 million loan portfolio
We advised Deutsche Bank in its acquisition of a mixed portfolio of loans from the receivers and managers of Banksia Securities Limited, which was the largest loan portfolio sale by a non-banking lender in Victoria in 2013. With the relevant borrowers located across the country, we implemented a co-ordinated approach across all of our offices to satisfy requirements in each of the states regarding tax, duty, real property mortgage and water mortgage transfer arrangements.