Turnaround & Corporate Renewal

 

When it comes to understanding current options and situations, it is vital to have access to proactive and highly commercial advice. Hall & Wilcox’s cross-practice team of experts have the knowledge and insight to advise on all areas of insolvency, restructuring and turnaround.

How we can help

In the current COVID-19 environment, many companies are struggling to 'bounce back' to what they were. There is still uncertainty about what a post-COVID normal will look like, and when.

There is likely to be significant restructuring by all businesses over the next 6-12 months, whether a business is just surviving or thriving and everything in between.

Whether its corporate distress, distressed investing or formal insolvencies, our internationally-recognised team can advise on the best solutions for your situation and help your business navigate through the process and understand the views of all parties involved.

Areas where we are seeing significant impact, and where businesses may need to review, refresh and restructure operations are determined by:

  • Industry sectors. Some sectors have been hit harder than others so far. This is expected to evolve and there will be winners and losers.
  • How the business was functioning pre-COVID. The emergency measures have allowed some businesses to continue that were not otherwise viable. As these measures end, these businesses will be at significant risk of formal insolvency.
  • Supply chain issues. Businesses are already experiencing significant disruption to supply chains caused by mandatory shutdowns and border closures (international and domestic). If suppliers or customers are not viable and are unable to restructure or do not transform quickly enough, alternative markets and suppliers will be needed. This can be anticipated now.
  • The balance sheet pain caused by COVID. Many businesses will be carrying significantly higher liabilities. Unless these are dealt with, shareholders may be unwilling to continue to support the businesses. Banking covenants may be breached and lenders may require their loans to be restructured and geared differently.
  • The long term consequences of COVID. There will be permanent change to many sectors of the economy and businesses will need to respond and adapt if they are to survive. How are your clients and customers affected? What are your new growth areas? What should you exit?

Featured thinking

Subscribe

To receive legal updates and thought leadership pieces relevant to the Insolvency, Restructuring & Turnaround area, please click below.

Subscribe

Key contact

David is a commercial litigator with extensive expertise in banking and finance, restructuring and turnaround, property disputes, insolvency and...

Related thinking

Insolvency & Reconstruction| 09 Sep 2020

Good reasons for directors to comply with safe harbour during insolvency trading moratorium

Despite the extension of the insolvent trading moratorium, directors should still satisfy the usual requirements of the safe harbour against insolvent trading if they can.

Insolvency & Reconstruction| 07 Sep 2020

Temporary insolvency protections extended

The Federal Government today announced the temporary six-month moratorium from insolvent trading liability has been extended until 31 December 2020.

Employment & Workplace Relations| 10 Aug 2020

COVID-19 and Victoria: top six announcements

At a time when businesses are suffering from information overload, we have decided to put together the top six announcements from the past week as an easy reference guide.

Turnaround & Corporate Renewal| 29 Jul 2020

The economy and COVID-19: extensions and future predictions

As the scale of the second wave of the COVID-19 pandemic in Victoria threatens to cast the nation into a relapse, the Federal Government’s announcements in the last week that it will extend critical government measures are welcome news.