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’.

Insolvent collapse of Prime Trust

Acting on behalf of the Lendlease Group defending litigation arising out of the insolvent collapse of Prime Trust, defending a claim in excess of $60m.

Rabobank receivership of Littore Wine Group

Acting for the secured creditor (Rabobank) and receivers and managers (Ferrier Hodgson) seeking recovery of an exposure in excess of $120m, including litigation to pursue fraudulent dispositions of property.

A$1.55 billion Lloyds Banking Group sale of Capital Finance and BOS International Australia

Acted together with Allen & Overy as joint legal advisers to the Lloyds Banking Group on the sale of its Australian asset finance business, Capital Finance Australia Ltd (CFAL), and its corporate loan portfolio, BOS International Australia Ltd (BOSI) to Westpac Banking Corporation for approximately A$1.55 billion in total.

Environinvest MIS wind up

Acted for the secured creditor (CBA) and the receivers and managers (Korda Mentha) of the Environinvest Group, including as responsible entity for a number of managed investment schemes.

$500m Raine Square development

Advising Commonwealth Bank on the A$500m Raine Square in Perth (in receivership), the proposed new headquarters for BankWest. Raine Square is a landmark Perth project comprising a major commercial building of 20 levels and will become the biggest shopping centre in the Perth central business district. The 1.2 hectare site consists of 44,000 square metres of office space over 20 levels and 13,000 square metres of retail space over three levels. We have advised on all aspects of the project since early 2009 after Commonwealth Bank of Australia acquired BankWest, including renegotiating various project documents, managing issues related to change of builder, managing disputes over the fit out arrangements, and advising CBA/BankWest on all strategic issues, and we continue to do so. We also advised Bankwest on the fit-out works undertaken to provide an exciting ABW environment for the Bank's 3000 staff, and the fit-out agreement. This A$500 million project is in the hands of receivers, appointed to the developer. Completion was to have been in April 2010.