Australian businesses prepare for the new privacy regime
When not working for insolvency practitioners and major lenders, Minter Ellison routinely works for creditors whose interests are adversely affected by the insolvency of a customer or counterparty.
We have substantial experience in drafting terms and conditions for suppliers that maximise their rights when a customer becomes insolvent (through retention of title, Personal Properties Securities Act compliant security mechanisms or indemnities) and advising on other forms of credit risk reduction and management.
We are involved in enforcing retention of title clauses against insolvent companies and enforcing charging clauses in guarantees against guarantors, and resolving priority contests between competing secured creditors.
We advise 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.
Our clients include landlords faced with an insolvent tenant and suppliers who are defending voidable transaction claims by liquidators.
We advise on the merits of deeds of company arrangement proposed by other parties, including related parties associated with directors; and helping prepare and substantiate proofs of debt to be lodged with an insolvency practitioner.