The Legal 500 > Asia Pacific > Australia > Restructuring and insolvency

Allens handles the full range of restructuring and insolvency mandates with notable expertise in large multi-jurisdictional matters involving syndicates of banks. The group’s cross-border experience is also enhanced by the firm’s alliance with the Linklaters LLP global network, and the team leverages the firm’s national network to handle substantial domestic matters; it recently acted for Ernst & Young as liquidators of One Key Workforce, a labour hire firm which became insolvent after its enterprise bargain agreement was declared void. Alf Pappalardo heads up the group, which is primarily based in the firm’s Brisbane office. Other key practitioners include restructuring specialist Geoff Rankin, Melbourne-based partners Matthew Whittle and Tania Cini, and Chris Prestwich in Sydney. Clint Hinchen retired.

Arnold Bloch Leibler’s Melbourne-based practice is led by Leon Zwier, who, according to clients, is ‘one of the best commercial lawyers in the country’. Other noteworthy individuals include Ben Mahoney, who focuses on debt and equity financing and restructuring mandates; Genevieve Sexton, who counts administrators, corporations, financiers and borrowers as clients; and Sydney-based Susanna Ford, who is a key name for contentious work. Litigators Elyse Hilton and Stephen Lloyd, who are based in Melbourne and Sydney respectively, were both promoted to the partnership in 2019. The practice is regularly involved in the market’s high-profile mandates spanning restructurings, deeds of company arrangement and schemes of arrangement, debt issues, enforcement work and investigations.

James Marshall heads up the restructuring and special situations practice at Ashurst, which is recognised for its substantial expertise across high-profile restructuring work, scheme of arrangement structures, distressed investing and security enforcement and litigation. The group’s client roster encompasses senior lenders, debtors, bondholders, insolvency practitioners, private equity houses and distressed asset and debt control buyers; notable examples include ANZ, HSBC, KordaMentha and Bain Capital Credit. Ross McClymont is also highly regarded in the field, Tony Ryan specialises in insolvency, distressed debt and restructuring work; and Emanuel Poulos also has expertise in personal property securities law. Michael Murray left the legal profession in 2019.

Clayton Utz is singled out for its contentious insolvency work and has been notably active in the construction, mining, retail and financial services sectors; key clients include Myer, Westpac and GFG Alliance. The practice also regularly handles non-contentious restructuring mandates and debt restructuring matters, a key area of work for national practice head Timothy Sackar, who regularly acts for funds and investment banks. The group also builds on its substantial national network with increased international work, most notably in the Asian and US markets. Former practice leader Karen O’Flynn is the key contact for contentious mandates, Perth-based Cameron Belyea focuses on the commodities market, and Orla McCoy is ‘definitely one to watch for the future’.

Gilbert + Tobin is a key name in the market for complex, high-profile work; it recently advised McGrathNicol as administrators and liquidators on all the Australian law aspects of the insolvency of Toys R Us, the largest insolvency in Australia in 2018. The group acts for banks, borrowers, investors, directors and insolvency practitioners on a range of issues including restructurings and workouts, distressed debt investing, corporate distress, voluntary administrations, liquidations and receiverships. Dominic Emmett leads the practice, which also includes Peter Bowden, who specialises in front-end restructuring and insolvency matters.

At King & Wood Mallesons, Tim Klineberg and David Cowling head up the national and global restructuring and insolvency practices respectively; other key individuals include Melbourne-based Tony Troiani, who is a key contact for insolvency-related disputes, Philip Pan in the firm’s Brisbane office, and Samantha Kinsey in Melbourne. The team handles the full spectrum of mandates including restructurings, distressed debt and insolvency litigation. It also leverages the firm’s global network in relation to international work; it has recently been active assisting with China-related mandates. The group’s client roster spans banks, accounting and insolvency firms, government agencies, distressed investors and corporates; key examples include CBA, the Australian Government Department of Employment and Ferrier Hodgson. Litigator Natalie Tatasciore was recently promoted to the partnership and Sam Dundas joined the Perth office from HWL Ebsworth.

Clients praise Minter Ellison as ‘simply the best in the market’ thanks to ‘excellent legal talent combined with a pragmatic view on achieving outcomes’. Michael Hughes heads the department, which has experience at a domestic and multi-jurisdictional level across bankruptcies, creditor claims, cross-border insolvencies, directors’ duties, distressed debt issues, liquidations, receiverships and voluntary administrations. The group is also singled out for its managed investment schemes expertise and fields restructuring experts in its Melbourne, Sydney, Brisbane and Adelaide offices. In Melbourne, Brendon Watkins is an insolvency expert, Caitlin Murray is a key name for contentious work in Sydney, and Brisbane-based David O’Brien leads the Queensland dispute resolution practice.

Paul Apáthy and Peter Smith jointly lead the practice at Herbert Smith Freehills from Sydney and Brisbane respectively; Apáthy is also co-chair of the firm’s global restructuring, turnaround and insolvency group. The team leverages the firm’s global network to provide cross-border support to its client base of banks, insolvency practitioners and corporates; it is particularly noted for advising Australian headquartered corporates, Australian branches of foreign owned-companies and foreign special situation funds investing in Australian distressed assets. Other key individuals include Mark Clifton and Nikki Smythe; Smythe regularly handles structured and mezzanine finance issues.

HWL Ebsworth counts Australian lenders and insolvency practitioners among its client base and fields dedicated practitioners across Australia. The group has been notably active in some of the market’s key matters; it recently acted for the general purpose liquidators of Queensland Nickel. Grant Whatley and Jonathan Kramersh jointly lead the team from Sydney and Melbourne respectively; Wayne Jenvey in Brisbane is a key contact for financial institution clients, Richard Johnson is a noteworthy name in the Perth market, Brisbane-based David O’Farrell focuses on contentious work, and Polat Siva handles insolvencies from the Melbourne office.

Colin Biggers & Paisley provides advice to directors, corporations and restructuring professionals, particularly in the construction, property, mining, retail and registered clubs sectors. The group handles the full spectrum of restructuring and insolvency mandates and is on the Commonwealth Government Australian Financial Services Authority's insolvency panel and it also counts Scentre Group, Grant Thornton and Bentleys as clients. Peter Harkin leads the practice and is a key name for insolvency work; Scott Hedge and Glen Williams are also recommended practitioners. 

At Gadens Lawyers, Robert Hinton, James Roland and Scott Couper are the key contacts in the recovery and insolvency department; Hinton counts banks, administrators, liquidators, receivers and creditors as clients, Roland regularly assists secured lenders with the management of non-performing corporate loan exposures, and Couper is noted for his handling of contentious cases. The group is a key name in the SME market with particular expertise in the technology sector. Its client roster also encompasses the four major Australian banks and insolvency practitioners. Kirsten Ganley moved in-house.

K&L Gates’ practice counts local and global banks, wealth managers, financial service intermediaries, government departments and corporations as clients and also assists clients across Asia with cross-border insolvency mandates. With expertise spanning transactional advice, planning work and litigation, the team is particularly noted for its capabilities in asset acquisitions, corporate reorganisations, contentious cases and bankruptcies. Jason Opperman leads the wider finance practice, while Melbourne-based practitioners Andrew Chambers and Stephen Hume also contribute to the work; Chambers is a key name for litigation and Hume regularly handles insolvency mandates. Danielle Funston joined Maddocks in late 2018.

Mills Oakley’s expertise in the retail, manufacturing and construction sectors allows for a client roster including GA Australia and Van Laack; it also counts insolvency practitioners, creditors, stakeholders and directors as clients. The group’s experience spans contentious work, employee entitlement arrangements, debt and equity restructures, personal liability issues and administration mandates. Melbourne-based Stuart Lewin leads the practice, which includes insolvency specialist Ariel Borland in Melbourne, Sydney-based practitioner Matthew Kelly, and Nirupa Manoharan, who made partner in 2019 and leads the firm’s Perth-based insolvency team.

With experience across contentious and non-contentious matters, Jackson McDonald handles reconstructions, workouts, security enforcements and insolvencies for listed and unlisted companies, banks, mid-tier financiers, creditors, borrowers, investors and insolvency practitioners. While the group assists with the full range of restructuring and insolvency work, it receives praise for its Personal Property Securities Act expertise. Eva Lin heads the Perth-based group, which also counts litigator Neil Gentilli as a key practitioner.