Insolvency and restructuring

Service Experience People

Pragmatic and relevant advice for insolvency practitioners, banks, businesses and individuals to plan and implement restructuring and recovering strategies quickly and cost-effectively

We act for professional insolvency practitioners, financial institutions, unsecured creditors, shareholders and employees to provide comprehensive advice through all stages of a period of business distress, from credit risk through to formal schemes of arrangement. We assist in pursuing opportunities to acquire assets from distressed entities and to preserve the value in such entities. Our team has broad experience in numerous industries and we work closely with other experts in our firm to offer our clients comprehensive and relevant advice. We also advise on applying to the Courts to have liquidators appointed and removed, voluntary administrations extended, and decisions on proofs of debt reviewed.

Experience

  • Assisting directors to implement turnaround strategies through safe harbour provisions, standstill arrangements or debt and equity restructuring 
  • Advising receivers selling businesses and voluntary administrators putting together complex Deeds of Company Arrangement
  • The appointment and removal of liquidators, extensions of voluntary administrations and decisions on proofs of debt reviewed
  • Advising parties to recover unfair preferences and unwind uncommercial transactions

Recognition

HopgoodGanim was proudly ranked as a Leading Queensland Insolvency and Restructuring Law Firm by Doyle's Guide in 2017 & 2018, as well as a Leading Western Australia Insolvency and Restructuring Law Firm in 2018. 

Exceptional outcomes

Deceased Estate Administration / We acted for Ferrier Hodgson in relation to the administration of a complex deceased estate of an individual. The Deceased owned and operated a substantial construction and property development business that became insolvent.  Prior to his death, the Deceased had attempted to safeguard his personal assets from his creditors through a concerted campaign that had divested him of legal title to assets worth tens of millions of dollars.  Our team successfully assisted Ferrier Hodgson to realise the remaining assets of the Estate and unwind the various transactions which the Deceased had effected.  This ultimately resulted in a significant dividend to unsecured creditors in circumstances where the estate held minimal assets at the time of the appointment.
Fortress Credit Corporation / We acting for the secured creditors, Fortress Credit Corporation and First Pacific Mortgage Fund, in effecting the mortgagee sale of a large beachfront development site in Surfers Paradise for a price exceeding $80 million. In order to secure vacant possession for the buyers, we assisted the mortgagees to lawfully evict over sixty tenants, making multiple successful urgent eviction applications to QCAT.
Heavy Equipment Voluntary Administration / We acted for the Voluntary Administrators (Deloitte) to successfully restructure a substantial company based in North Queensland which employs over 80 staff.  Our work involved the drafting of a complex deed of company arrangement which included selective assets sales, share and debt restructures and equipment financing which company creditors voted to accept.  Our team also appeared in the Supreme Court of Queensland for the liquidators of a related trustee company in order to obtain orders to facilitate the sale of trust assets to reduce cross-collateralised secured debt.  

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