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Nick Poole specialises in workouts, restructuring and insolvencies, with a specific focus on distressed asset financing, distressed and non-distressed M&A, corporate restructuring and distressed debt trading. Nick has extensive experience, both with Clayton Utz and from eight years in Asia working for an international law firm, with a wide range of clients and sectors.

Nick has advised Governmental agencies, bank groups, alternative lenders, debtors, directors and insolvency practitioners in large and complex corporate collapses, US Chapter 11 proceedings, formal and informal workouts and non-performing loan sales. Recently Nick has advised the GFG Alliance with respect to its acquisition of the Arrium assets (including Whyalla), Peabody Energy on its Chapter 11 reorganisation plan and emergence, interested parties in connection with the restructuring of Wiggins Island Coal Export Terminal and a Private Equity client in connection with the implementation of an acquisition roll-up strategy involving of 12 targets across Australia.

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Expertise

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Restructuring and Insolvency

Restructuring

  • Arrium Ltd/GFG Alliance: Advised GFG Alliance on its $700m acquisition of Arrium (ex-Molycop). This represents one of Australia's largest and most complex administrations and spans numerous jurisdictions.
  • Peabody Group: Advised the Australian Peabody Group with respect to its global restructure, including pre and post-Chapter 11 filing, implementation and emergence.
  • Nexus Energy: Acted for McGrathNicol, the administrators and then deed administrators of Nexus Energy Limited to ensure its major oil and gas projects continued operating. With debts of approximately $400 million, ASX-listed Nexus went into voluntary administration when a takeover bid by Seven Group (a senior secured creditor) was rejected by shareholders.
  • Eastmark / Denison receivership: Advised an offshore fund on its purchase of a bank's exposure to a large property development in North Sydney. This included the negotiation and implementation of documentation required in order to effect the transfer of the bank's debt.
  • Pharmacies: Nick advised lenders on strategic reviews of lending practices with respect to various national and regional pharmacy groups, including the restructuring and subsequent enforcement action in respect of a national group of 70 pharmacies.
  • Murray River Organics Group Limited (MRG): Advised MRG on its capital management initiatives, including a $25 million fully underwritten entitlement offer associated with negotiated outcomes with NAB (secured lender) and Arrow Funds Management. 
  • Jeanswest Corporation Pty Ltd: Advising the voluntary administrators of the national retailer Jeanswest in relation to its on-going trading and general administration issues with suppliers, lessors and major counterparties and the ultimate sale of approximately 100 stores and closure of remaining stores.
  • WICET: Advising a number of holders of Wiggins Island Preference Shares (WIPS) with respect to their rights and restructuring options.

See Restructuring and Insolvency

Debt Trading and Special Situation Investing

  • Debt trading: Nick advises buyers and sellers in connection with various vanilla and structured trades across Asia Pacific.
  • Special situations: Nick advises investors and financiers in respect of special situations generally including in connection with the "Soul" property development, Becton Property Group, MF Global, Timbercorp, Alinta, Babcock & Brown, Colorado, Centro and Loy Yang.
  • LM First Mortgage Income Fund: Advised Deutsche Bank on its initial refinance and enforcement strategy following the appointment of voluntary administrators to the fund's responsible entity and subsequently advised the receivers and managers appointed by Deutsche Bank.
  • NPL Portfolio: Nick advised shortlisted bidders on all aspects of BOSI's A$2bn and Suncorp's A$2bn non-performing loan portfolio disposals.
  • Banksia Securities Limited: Nick advised Deutsche Bank on its purchase of a $240 million loan portfolio. 

See Debt Trading and Special Situation Investing

Banking and Finance

  • NPL Portfolio: Nick advised shortlisted bidders on all aspects of BOSI's A$2bn and Suncorp's A$2bn non-performing loan portfolio disposals.
  • Banksia Securities Limited: Nick advised Deutsche Bank on its purchase of a $240 million loan portfolio.
  • Pharmacies:  Nick advised lenders on strategic reviews of lending practices with respect to various national and regional pharmacy groups. This included the restructuring and subsequent enforcement action in respect of a group of 70 pharmacies.
  • Cubbie Group of Companies:  Nick advised the lenders on their exposure to Cubbie, the largest cotton producer in Australia, including annual cropping facilities, administrator funding and all aspects of the administration.
  • LM First Mortgage Income Fund: Nick advised Deutsche Bank on its initial refinance and enforcement strategy following the appointment of voluntary administrators to the fund's responsible entity and subsequently advised the receivers and managers appointed by Deutsche Bank.
  • Mezzanine Finance: Nick advises offshore funds with respect to priority administrator funding, mezzanine financing and preferred equity investments in respect of mining and property investments.
  • Special situations: Nick advises investors and financiers in respect of special situations generally including in connection with the "Soul" property development, Becton Property Group, MF Global, Timbercorp, Alinta, Babcock & Brown, Colorado, Centro and Loy Yang.
  • Dalby Bio Refinery: Nick advised buyer of A$100 million senior secured loan and implemented loan to own strategy involving deeds of company arrangement of operating and holding companies and acquisition of entire issued share capital of holding company.
  • Moulin Global Eyecare Holdings Limited: Nick advised a 27-member bank group (HK$2.4 billion) on formal standstill negotiations and then the provisional liquidator on all aspects concerning the liquidation and restructure of Moulin. This involved insolvency proceedings in various countries around the world, one of the first foreign recognition proceedings brought in the US and the contested disposal of Eye Care Centres of America (enterprise value of US$600m).
  • Bio-Treat Technology Limited: Nick advised the majority of bondholders holding S$206 million Zero Coupon Convertible Bonds including as to available enforcement and restructuring options.

See Banking and Finance

Knowledge

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