Michael Hughes
|Partner

Michael is recognised as one of Australia's leading insolvency and reconstruction lawyers and specialised in all aspects of litigation and insolvency since 1986. Described by clients as 'outstanding', valued for 'the length of his experience and his exceptional knowledge of the law' and 'an insolvency specialist who rolls up his sleeves and gets the job done' (Chambers Global Guide), Michael has developed a specialist practice in insolvency and reconstruction, security enforcement and commercial litigation. He has extensive experience in high, federal and state courts, tribunals, arbitrations and alternative dispute resolution processes.

A focus of Michael's practice is acting for banks and other credit providers in the enforcement of securities and the work out of problem loans. He advises on ASIC and other regulatory investigations into alleged contraventions of the Corporations Act 2001 (Cth), including insider trading.

Michael is a past member of the National Committee of the Australian Restructuring Insolvency & Turnaround Association (ARITA) (formerly the Insolvency Practitioners Association of Australia) being the first lawyer ever to hold that position on a full time basis. In June 2011 he received the IPA's president's award for excellence. He is currently the deputy chair of the NSW/ACT Committee.

Michael has a long history working with international firms across borders. He has been involved in some of the largest cross-border insolvencies involving advisers in other jurisdictions. Michael has first-hand experience in the operation of the Cross-Border Insolvency Act 2008 (Cth) by which Australia adopted the UNCITRAL Model Law.

Michael has advised overseas creditors and investors on their ability to execute turnaround strategies with Australian debtors or foreign assets controlled by insolvent entities in Australia. On the other hand he has represented Australian insolvency practitioners seeking to recover assets located overseas.

Opes Prime collapse

Acted as the primary advisors for ANZ in the collapse of Opes Prime Stockbroking, with approximately 1,200 clients and debts to ANZ of over A$700 million, including acting on two class actions.

2017