Michael Hughes |Partner

Michael is consistently ranked in national and international legal directories as a leading litigator and insolvency specialist with extensive expertise across the banking and finance sector. He is frequently instructed to act for the 4 major Australian banks.
His experience includes acting for ANZ in the collapse of the Insolvents Lending Scheme, a financial services product that provided funding for litigation conducted by insolvency practitioners.

Michael's practice offers commercial and strategic advice in cases of personal insolvency and bankruptcy. His practice includes acting for creditors, including the 4 major Australian banks in initiating bankruptcy proceedings and acting for bankruptcy trustees after they are appointed to investigate and claw back assets for the benefit of creditors. He has also acted in connection with a number of high profile Pt X agreements proposed by individuals who wish to avoid bankruptcy.

Michael is one of Minter Ellison most senior and experienced practitioners in the field of corporate and commercial disputes. With over 25 years experience, Michael has been involved in some of Australia's largest and most complex corporate disputes.

Michael has substantial experience in drafting terms and conditions for suppliers that maximise their rights when a customer becomes insolvent (through retention of title, PPSA compliant security mechanisms or indemnities) and advising on other forms of credit risk reduction and management.

Michael has advised clients on their ability to terminate contracts as a result of an actual or potential insolvency-related default, and in the case of financial market contracts, the calculation of close-out payments.

Michael regularly advised and acts for creditors caught up in formal insolvencies, including voting at creditors' meetings (at which he regularly acts as proxy), membership of creditor committees, and the proof of debt process when there are funds to be distributed, calling on bank guarantees and other third party security and advising in connection with and defending preference recovery and other claw back proceedings.
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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 fits 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 represents Australian insolvency practitioners seeking to recover assets located overseas.

Michael has extensive experience providing advice to directors on insolvency-related matters, particularly the risks associated with insolvent trading, the making of solvency declarations and dealing with lenders, auditors and other stakeholders when accounts are being finalised.
He has devised and implementing workout plans — including standstill agreements and the like - to support restructures and turnaround plans to avoid a formal insolvency appointment.
Michael has acted for a number of high profile directors and boards defending claims brought against them by Liquidators for insolvent trading, misleading or deceptive conduct, breach of duty and the like.

Michael has acted in connection with debt trading activities, as creditors seek to crystallise their losses by disposing of their debts and security interest. He has acted for lenders disposing of their debts. He has advised on structures that may be implemented to acquire and hold the security on behalf of multiple acquirers. He has acted for those who have acquired these interests in the implementation of 'loan to own' and other turnaround strategies.

Michael frequently acts for insolvency practitioners appointed as liquidators following a corporate collapse, and other stakeholders who interact with liquidators. In addition, Michael has experience of working with regulators, including ASIC following a corporate collapse.

Michael regularly advised and acts for creditors caught up in formal insolvencies, including voting at creditors' meetings (at which he regularly acts as proxy), membership of creditor committees, and the proof of debt process when there are funds to be distributed, calling on bank guarantees and other third party security and advising in connection with and defending preference recovery and other claw back proceedings.

Michael regularly acts for Receivers and the secured lenders who appoint them, including all of Australia's leading banks, finance companies, and specialist insolvency practices.
Michael and his team advise and act on all aspects of a Receivership, including the appointment and disposal of the business and assets of the insolvent entity, ensuring that assets are disposed of in a way which complies with the Receivers' statutory duty under Australian law to take reasonable steps to secure market. Michael brings the table the full depth of Minter Ellison's expertise in areas such as employment, industrial, planning & environment, contamination and taxation in a way that best protects the Receiver from personal liability.

Michael has experience in acting for clients in response to regulatory investigations, especially by ASIC. This typically involves notices for the compulsory production of documents and the summonsing of key executives to give confidential sworn evidence to ASIC officers. So much is Michael's experience that he regularly advises on ASIC and other regulatory investigations into alleged contraventions of the Corporations Act 2001 (Cth), including insider trading.

Michael specialises in advising large businesses on turnaround and rescue packages, solvency assessments and strategies for saving distressed businesses. His extensive experience means he understands the special circumstances of troubled businesses and the need for quick decision making. This experience and knowledge coupled with the application of insolvency law means that suggested solutions will stand the most rigorous scrutiny.
Michael's clients include major secured creditors and borrowers negotiating with creditors, with the hope of avoiding the need for a formal insolvency appointment.

Michael frequently acts for insolvency practitioners appointed as voluntary administrators and in subsequent liquidations or deeds of company arrangements (DOCA).

Michael regularly advised and acts for creditors caught up in formal insolvencies, including voting at creditors' meetings (at which he regularly acts as proxy), membership of creditor committees, and the proof of debt process when there are funds to be distributed, calling on bank guarantees and other third party security and advising in connection with and defending preference recovery and other claw back proceedings.