Restructuring/Insolvency

About

Provided by Gadens

Restructuring / Insolvency

Gadens has a specialist team dedicated to advising clients in relation to all aspects of distressed situations. Our expert team has an established record in delivering innovative solutions for our clients including banks and other institutional creditors, corporates, international and domestic investment funds, insolvency practitioners, shareholders and company directors. We have significant experience in completing consensual distressed (and performing) debt restructurings. This includes debt trading and sub-participation arrangements.

Specialisation:

• Special Situations
• Restructuring and Insolvency
• Workouts and Restructures
• Banking and Finance
• Distressed Real Estate

Work highlights:

• Gadens acted for the Commonwealth Bank of Australia (CBA) in relation to its debt exposure to a group comprising four large hotels with complex ownership and operating structures involving trusts with a large number of unitholders. CBA ultimately recovered its debt in full.
• Gadens acts for Cor Cordis, the liquidator of one of Australia's largest private security businesses, Sargent Security. The liquidator has brought proceedings against the company's former invoice financier (Bibby, now Scottish Pacific, one of Australia's largest invoice financiers). The claim relates to the (short-lived) appointment of receivers to the company by Bibby, which the liquidator claims caused the company to fail shortly thereafter.