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Insolvency and Restructuring

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We act in all areas of formal insolvency and informal restructuring. Prior to establishing William James, Brendan and Michael led one of the “go to” teams for many of Australia’s largest banks and corporates in complex restructuring and insolvency matters at one of the largest international law firms. This means that William James’ insolvency and restructuring team has a skill set and experience that is not otherwise available outside of the major law firms. We are also free of the baggage and conflicts that come from dealing with those firms which makes us uniquely placed to act for our clients in this space without fear or favour. Brendan, Michael and the firm are all recommended in the Doyle’s Guide for their Insolvency expertise as voted by industry peers.

 

We regularly act for different stakeholders including the appointed external administrator, the board of directors, the secured lenders or the key creditors.

 

Our team are true specialists in the insolvency industry and most of our team members have completed the Insolvency Education Program run through ARITA, the insolvency industry body. Both Brendan and Michael also help lead required seminars for that course.

 

William James also acts as safe harbour advisers pursuant to the Corporations Act helping companies and their directors to implement restructure plans in a way that protects directors from allegations that they might have trade the company while insolvent.

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our experience

Our work includes:

 

  • All aspects of voluntary administration, receivership and liquidation
  • Debt and equity restructure arrangements
  • Deeds of company arrangement and creditors trusts
  • Security reviews and enforcement strategy
  • Creditors meetings
  • Insolvency related Court applications and litigation
  • Public examinations
  • Safe Harbour appointments

a sample of recent experience

Acting as strategic advisers in a restructure of a retailer. We successfully negotiated the reduction of a Bank's debt of circa $30m for $2.5m and then restructured the entity's debts through on administration.
Acting for the secured lender in relation to a $25 million facility through a long-term restructure of a substantial agricultural operation which involved a complete restructure of the group, numerous pieces of litigation and successful negotiation with all of the key stakeholders including other secured lenders, landlords, management and creditors.
Acting for the voluntary administrators and liquidators of a property development group with over $40 million of assets, subject to numerous interconnected security arrangements and third-party claims, in respect of which we formulated and effected a strategy allowing the realisation of the group’s assets. That realisation required not only the navigation of the complex security and contractual arrangements to which the group was subject, but also the successful resolution of multiple legal proceedings brought by and against the group companies.
Advising a liquidator in relation to numerous potential causes of action in relation to the demise of a series of managed investment schemes that held assets under management in excess of $900 million and pursuing various strategies including applications for public examinations.
Successful recovery in excess of $100 million for a private lender from a high profile troubled property developer
Providing restructuring advice to the former owner of the Top Ryde Shopping Centre and Harbourside Shopping Centre in relation to facilities exceeding $600M and then acting for the funder of the Top Ryde Shopping Centre Creditor’s Trust, which was the first major use of a creditors trust in Australia where ASIC had challenged the creditors trust unsuccessfully.

Looking for more? Browse our extensive commercial litigation experience here.

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