Reconstruction

MinterEllison’s reconstruction team is consistently recognised by independent, international surveys as one of the leading practices in Australia and New Zealand (including a ranking of ‘top tier’ in Chambers Global, Asia Pacific Legal 500, PLC Which Lawyer? and IFLR 1000: Guide to the World’s Leading Financial Law Firms).

Our team of more than 60 reconstruction specialists regularly acts in complex or multi-jurisdictional reconstruction projects and offers an unmatched depth of capability and service delivery. Our practice spans bankruptcy, creditor claims, cross-border reconstruction, directors’ duties, distressed debt trading/acquisitions, liquidation, receivership, turnaround/workouts and voluntary administration.

We have broad experience across numerous industries, including agribusiness, construction, energy, resources and mining, funds management and derivatives, health and ageing, industrial, infrastructure and project finance, real estate, and retail.

We work with liquidators, administrators, receivers, banks and other lenders and have been involved in many of the region’s major corporate collapses and restructures including Great Southern, Timbercorp, Alinta Energy, Burrup Fertilisers, Opes Prime, Primebroker, Centro Property Group, ABC Learning, Griffin Coal, Clive Peeters, One.Tel, Westpoint, Pasminco, Centaur Mining, Western Metals, Sons of Gwalia, Absolute Capital, Green Pacific Energy, Ion and Ansett Australia. Our strong relationships with all major lenders and leading accountancy firms means we can work collaboratively to achieve the best possible outcome for our clients.

A distinguishing feature of our reconstruction practice is its genuine international network of specialist reconstruction practitioners, which enables us to work in real time across borders, and act swiftly to preserve assets and challenge voidable transactions.

We can assemble teams to service clients from start to finish including experts in employment, tax, insurance, dispute resolution, corporate governance, finance and equity, environment and planning, real estate, intellectual property, M&A, funds management and capital markets.

Chambers Global notes that ‘[MinterEllison] always look at the practical realities when giving their advice’. Clients note our ‘efficient and commercial service’ and ‘cost-effective and eager teamwork’. Asia Pacific Legal 500 notes that ‘the group enjoys the distinction in being top notch not only in formal insolvency work, but also in the restructuring arena’. IFLR 1000 notes that our peers and clients alike recognise us as ‘unmatched when it comes to client servicing’.

31 March 2017

On 28 March 2017, the Australian Government announced its proposals to reform the law relating to insolvent trading, and the right to terminate contracts based on insolvency ('ipso facto clauses').

5 May 2016

The Senate Economics References Committee has released 'Bitter Harvest', a comprehensive report on agribusiness managed investment schemes (Agribusiness Schemes). The report has been prepared in response to the recent collapse of a number of major Agribusiness Schemes and is primarily concerned with the significant and widespread financial losses incurred by the retail investors of those schemes.

25 January 2016

Late last year, the High Court handed down its decision in Commissioner of Taxation v Australian Building Systems Pty Ltd (in liq) [2015] HCA 48. The ATO has recently issued a Decision Impact Statement (DIS) setting out its view of the consequences of the High Court's decision.

11 December 2015

The High Court's decision in Commissioner of Taxation v Australian Building Systems Pty Ltd (in liq) held that, in the absence of an assessment, a liquidator is not required to retain funds from asset sale proceeds in order to meet a tax liability which could become payable as a result of a capital gain made on the sale. In doing so, the majority of the High Court affirmed the decision of the Full Federal Court and provided long awaited guidance to liquidators, receivers and administrators.

25 July 2014

This week the Full Federal Court unanimously overturned the decision to refuse ASICS's application to remove the liquidators of Walton Construction Pty Ltd, which had been appointed though a referral by the Mawson Group. The case presents a warning to insolvency practitioners who may find themselves overly dependent on a single source of referral work.