Restructuring and insolvency in Australia

Allens is active across debtor and financier-side work, handling complex, often multi-jurisdictional matters, including restructurings, insolvencies and voluntary administrations, schemes of arrangement, and litigation. Clients include businesses and insolvency practitioners, and an array of banks and financial institutions, with financial services work a particular strength of Brisbane-based practice head Alf Pappalardo. Sydney’s Chris Prestwich works on restructurings and insolvency proceedings across a wide range of industries, working with corporates, lenders and insolvency practitioners (IP), while Melbourne-based Tania Cini has experience in handling large-scale corporate collapses as well as representing clients in litigation. Also in Melbourne, Matthew McCarthy has a particular focus on insolvency litigation and disputes. Sydney-based senior associate Kirsty Prinsloo advises on a diverse range of insolvency proceedings and structures, including recapitalisations and deeds of company arrangement.

Arnold Bloch Leibler focuses on large-scale, high-profile restructuring and insolvency mandates, both contentious and non-contentious, with team members offering expertise in banking, corporate, and disputes work, alongside specific sector expertise. Clients include companies, insolvency practitioners and distressed buyers, with special situations M&A another area of strength. The team is led by Leon Zwier, who is a standout figure in the market who is heavily involved in many of the firm’s top matters. Genevieve Sexton has a strong focus on corporate financing relating to solvent and insolvent restructuring transactions, while Stephen Lloyd and Elyse Hilton both specialise in litigation. Ben Mahoney is another key player in transactional and financing work. All lawyers mentioned are in Melbourne.

Clayton Utz combines a successful track record in insolvency litigation with heavy involvement in non-contentious restructuring and debt restructuring matters, with notable expertise in work for investment funds and emerging structures such as safe harbour and forbearance arrangements. The team has been involved in high-profile corporate collapses, with a focus on the energy and resources, mining, financial services and retail sectors. Timothy Sackar leads the team, and has a strong international practice, specialising in business restructurings, distressed investing and insolvencies. Orla McCoy continues to play a key role in corporate insolvency and distressed workout matters, and has expertise in innovative cross-border structures such as Chapter 11 bankruptcies. Firm chair Karen O’Flynn has a strong track record in restructurings and the associated litigation. Perth’s Cameron Belyea focuses on contested debt and capital restructurings, banking and finance recoveries, and litigation, while special counsel Jillian Robertson has extensive experience in domestic and cross-border financial restructuring transactions and distressed investments. Lawyers are in Sydney unless otherwise stated.

Gilbert + Tobin plays an active role in high-profile, complex business restructurings and insolvencies, advising lenders, debtors, companies and administrators at the top of the market, and regularly working on high-value matters. The team is led by Dominic Emmett , recognised as a top-level practitioner and highly active on many of Australia’s largest insolvency proceedings. Melbourne’s Peter Bowden focuses on front-end restructurings and handles matters ranging from SME matters to larger restructurings and distressed debt acquisitions. Colleen Platford  is a senior partner and a recognised specialist in complex company turnarounds and insolvency litigation. At senior associate level, Anna Schwartz focuses on non-contentious work for financial institutions and funds, while Anna Ryan plays a key role across the firm’s offering, including acting in restructuring and insolvency proceedings and the related litigation. Lawyers are in Sydney unless otherwise stated.

King & Wood Mallesons handles complex and high-stakes restructuring and insolvency proceedings, working with clients on transactional, advisory and contentious issues, including major litigation. The team works in close collaboration with its corporate and finance teams to handle distressed acquisitions and recapitalisations. Practice co-heads Tim Klineberg and David Cowling are high-profile practitioners within the space, with strong records in complex restructurings and flow-on debt and litigation respectively. Melbourne’s Tony Troiani is a specialist in insolvency-related disputes, particularly technical insolvency and director duties issues. Brisbane-based Phillip Pan advises on a number of significant mandates, including Safe Harbour advisory work. Melbourne’s Samantha Kinsey advises on debt recovery, debt acquisition and insolvency proceedings, with Natalie Tatasciore representing leading banks and accounting firms in major insolvency litigation. Special counsel Gavin Rakoczy has broad expertise across complex insolvencies and distressed corporate situations, most notably advising on schemes of arrangement for distressed companies. All lawyers are in Sydney unless otherwise stated.

Minter Ellison handles complex, often multi-jurisdictional insolvencies, with strong capabilities across bankruptcies, creditor claims, cross-border insolvencies, directors’ duties, distressed debt trading issues and voluntary administrations. The firm works with its corporate, finance and specialist industry teams to offer a multidisciplinary approach to insolvency matters in a variety of industries. Sydney-based Michael Hughes leads the team and is a fixture within the space with great expertise across insolvency and restructuring matters alongside related litigation, acting for creditors, businesses and insolvency practitioners. Melbourne’s Brendon Watkins has a strong record in high-profile insolvencies and corporate collapses, while specialist litigator Caitlin Murray in Sydney is particularly active on behalf of financial services clients. Melbourne-based Catherine Macrae was promoted to partner in early 2021, and has broad expertise across insolvent administrations, distressed M&A and restructurings in a number of sectors. David Suttner is a Perth-based senior associate with a focus on insolvency litigation and business rescues.

The team at Herbert Smith Freehills has played a key role in major Australian and international restructuring and insolvency proceedings, most notably acting for Bain Capital in its bid to acquire Virgin Australia out of administration. Private-equity backed distressed acquisitions are one strength for the firm, alongside debt financings, corporate turnarounds, and contentious issues relating to insolvencies. The team is led by Paul Apáthy, who handles complex mandates including Australian Chapter 11 proceedings, and is a regular adviser to major corporates, banks and funds. Mark Clifton has a successful record in corporate restructurings, working with businesses and their directors, creditors and vendors, while Nikki Smythe specialises in financing work. David John is an experienced commercial litigator with specialisations in bank-side insolvency work and complex reconstructions. All lawyers mentioned are in Sydney.

Baker McKenzie is well placed to act on complex cross-border restructuring and insolvency work, working in close conjunction with its domestic banking and finance practices and international platforms on major proceedings, both on the administrator and debtor side. Sydney-based practice head Maria O’Brien is a highly respected practitioner with a strong track record in high-level restructuring and insolvency proceedings, and is a regular contributor to thought leadership on the subject. Melbourne’s Peter Lucarelli is regularly involved in complex litigation relating to insolvencies, as well as advising on business restructurings, while Brisbane-based Ian Innes has continued to perform strongly since his promotion to partner in 2020, advising public and private sector clients on restructurings, insolvencies and the related disputes.

Dentons expanded its team further with the early 2021 arrivals of Perth-based John Park from Wentworth Lawyers and Brisbane’s Claire Petersen from Lavan Legal. The firm has a strong creditor-side practice, and combines domestic and international expertise in the banking and financial services, distressed retail, construction, and manufacturing sectors, among others. The team counts key consultancies and a number of major banks as key clients, and is able to advise on restructurings, corporate recovery issues and multi-jurisdictional insolvencies. Sydney’s Tim Sherrard heads up the team, with Melbourne’s John Stragalinos a key player in major insolvencies alongside Sydney-based Justin Bates  and David McIntosh.

The team at Colin Biggers & Paisley primarily advises directors, companies and restructuring practitioners on a diverse range of business restructurings and insolvency solutions, also working with government entities and maintaining a notable specialism in investment fund collapses. The team is led from Sydney by Peter Harkin and Scott Hedge, who have strong financial services expertise and regularly advise businesses and IPs on matters independently from major banks. Brisbane’s Glen Williams has strong expertise in handling administrations on behalf of businesses and liquidators.

Maddocks advises on a broad range of restructuring and corporate insolvency matters, including voluntary administrations, receiverships, liquidations and recovery proceedings. The team has a strong record in the banking sector, advising a number of Australian banks and financial institutions, and also works with directors, companies and insolvency practitioners. The team is led from Melbourne by Marelda Hibberd , while firm CEO David Newman  and Sydney’s Danielle Funston are other key names.

Mills Oakley fields an extensive and geographically-diverse team, advising a wide range of IPs, corporates and public sector clients on receiverships, voluntary administrations and liquidations; the team also established a notable debt recovery capability, which has seen it acting for the ATO on the recovery of corporate and personal taxation liabilities. The team is led by Melbourne’s Stuart Lewin, and includes Sydney-based Kirsten Farmer and Perth’s Nirupa Manoharan, who are both strong in litigation and advisory insolvency work.

David Walker leads the Sydney-based team at Allen & Overy LLP, advising a number of domestic and international companies on complex restructurings and insolvencies, including a number of cross-border matters. The team is integrated with its corporate and industry-specific offices within Australia, as well as working closely with its international teams on multi-jurisdictional issues. Counsel Heather Sandell has a strong specialism in formal insolvency appointments.

Banton Group is a specialist firm that focuses on litigation funding work, liquidations and failed managed investment schemes, working with administrators and financial institutions. The Sydney-based team, led by Amanda Banton, Elliott Smith and Ross Garland, offers multi-jurisdictional expertise in mandates involving the UK, US and Singapore.

Hamilton Locke advises clients on the full range of distressed situations, encompassing debt financings and transactions, restructurings, formal appointments and the associated disputes. The Sydney-based team is led by Zina Edwards, who focuses on finance work, advising a growing number of credit funds and other investors, alongside Nicholas Edwards, who handles formal appointments, advising IPs, creditors and debtors on insolvency and restructuring proceedings, and distressed transactions.

Jackson McDonald advises companies, financiers, creditors and insolvency practitioners on a range of matters, including liquidations, business restructurings, debt recovery issues and funding solutions, and is heavily involved with key insolvency litigation in Western Australia, as well as insolvencies in the mining and minerals sector. The Perth-based team is led by Dan Butler.

Led by experienced restructuring practitioner and litigator David O’Farrell, the team at McCullough Robertson has productive relationships with restructuring and insolvency practitioners in the Queensland area, and regularly receives referrals from domestic and international firms. The firm advises clients in a wide range of industries, including the energy and resources, finance and agribusiness sectors, and has notable expertise in cross-border insolvencies.

Quinn Emanuel Urquhart & Sullivan, LLP advises ASX-listed companies, public offices and insolvency practitioners on an array of complex insolvency and restructuring matters, including contentious insolvency proceedings and distressed acquisitions. The firm is able to act for major clients in a variety of key market sectors, with practice head Beau Deleuil specialising in turnarounds in the mining and resources sector. As a former state official, Perth’s Paul Evans has a strong track record in public sector insolvency issues, while Elan Sasson and Andrew Corkhill have notable focuses on litigation and financial services work respectively. Lawyers are in Sydney unless otherwise stated.