Nick Poole specialises in workouts, restructuring and insolvencies, with a specific focus on distressed loan asset restructuring.

Nick has extensive experience, both with Clayton Utz and from eight years in Asia working for an international law firm.  He has advised bank groups, debtors and insolvency practitioners in large and complex cross-border insolvencies, workouts, restructures and non-performing loan sales, in sectors such as pharmacies, rail, toll roads, steel, petroleum, manufacturing, retail, distribution, agriculture, communications, utilities, airlines, property holding companies and gaming.

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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.

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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