Nick Poole

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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 and on-going financing and contractual arrangements.
• 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.
• 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.
• Collete: Advised the buyer of Collete Hayman in connection with due diligence, negotiations with voluntary administrators and leasing arrangements. 
• Property finance: Advises offshore funds with respect to priority administrator funding, senior, uni-tranche and mezzanine financing and preferred equity investments in respect of mining and property investments.
  

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 Dlydam Group, Traffic Technologies Limited, NCIG, WICET, Arrium, 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. 
• Aircraft finance: Advised unsuccessful bidder in respect of US$2.1b aircraft finance portfolio.
• Howard Mortgage Fund: Nick advised Nomura on its purchaser of $100 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 Dlydam Group, Traffic Technologies Limited, NCIG, WICET, Arrium, the "Soul" property development, Becton Property Group, MF Global, Timbercorp, Alinta, Babcock & Brown, Colorado, Centro and Loy Yang.
• 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.
• Aircraft finance: Advised unsuccessful bidder in respect of US$2.1b aircraft finance portfolio.
• Property finance: Advises offshore funds with respect to priority administrator funding, senior, uni-tranche and mezzanine financing and preferred equity investments in respect of mining and property investments.
• Howard Mortgage Fund: Nick advised Nomura on its purchase of $100 million loan portfolio.
  

See Banking and Finance