Turnaround & Corporate Renewal

 

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Hall & Wilcox are experts in helping underperforming businesses survive and thrive.

Good advice = peace of mind. We know running an underperforming business can be stressful. That is why it is important to have the best advice. When it comes to identifying opportunities and solutions involving underperforming businesses and assets, Hall & Wilcox’s cross-practice team of experts have the knowledge and insight you can count on.

Our team is here to help. We can solve legal issues to allow businesses to find the best path to turn the company around.

How we can help

Our internationally-recognised team can advise on the best solutions for your situation and help your business formulate a plan and navigate through the process. We can assist with:

Providing options for underperforming companies.

Quick and decisive action may be needed to stabilise the business in the short term. This involves managing key stakeholders and developing a turnaround (or restructuring) plan. Such plans include: renegotiating debt terms, refinancing and raising new debt; negotiating with key stakeholders; resetting the workforce; divesting non-core assets or acquiring new assets; and capital raising and restructuring equity.

Protecting directors and officers during a restructure.

Hall & Wilcox’s experts can guide directors and officers to ensure that their personal position is protected. Our lawyers can assist directors in a range of situations that may be encountered such as providing advice regarding director duties when solvency is doubtful, advising on entering and remaining in safe harbour during a restructure to avoid potential liability for insolvent trading, advising on avoiding personal liability for tax debts, and ensuring restructures are done lawfully and protected from challenge. Using a lawyer has the benefit that the advice provided will be subject to legal professional privilege.

Restructuring via a formal insolvency process.

Sometimes the best or only viable option may be to restructure one or more entities via a formal insolvency process. Our team can help small business use the small business restructuring process, provide advice on restructuring via voluntary administration and deed of company arrangement and advise on schemes of arrangement.

Negotiating distressed M&A.

Our team is focussed on delivering maximum value in challenging and time critical situations. We can advise on the buy or sell side at all stages of distressed M&A and can look at several options including different acquisition/investment strategies and locking in certainty.

Our experience

Mining company

In this matter, a Hall & Wilcox partner:

  • advised the board on their duties in light of the pending potential insolvency of the company
  • assisted the board access the safe harbour against insolvent trading while the board negotiated a recapitalisation of the company
  • advised the board in negotiations with secured lenders.

Leisure activity provider

In this matter, a Hall & Wilcox partner:

  • acted as an ‘appropriately qualified entity’ advising the board to enable the board to access the safe harbour against insolvent trading
  • assisted with the development of a restructure plan
  • monitored ongoing compliance with the requirements for continued access to the safe harbour against insolvent trading
  • advised on negotiations with franchisors, licensors, landlords and financiers.

Supply chain and distribution technology business

In this matter, Hall & Wilcox:

  • gave the directors advice on their duties and potential exposure;
  • assisted with the development and implementation of a restructure plan under the safe harbour against insolvent trading;
  • advised on employee entitlements, ongoing trading obligations and recapitalisation;
  • assisted with creditor claims brought against the Group.

Fintech provider

In this matter, Hall & Wilcox:

  • advised the US based majority shareholder of an Australian distressed fintech business
  • assisted with negotiations with a secured creditor

Security and emergency response business

In this matter, Hall & Wilcox:

  • assisted with and provided legal due diligence on a restructure plan;
  • advised on interposition of a new entity to hold the subsidiaries;
  • advised on the transfer of all business operations to different entities within the group, including dealing with staff (and unions), suppliers, creditors, financiers and government agencies;
  • assisted with negotiations with the existing financier and finding new finance;
  • provided tax advice on minimising stamp duty and GST on the transaction and the employee share scheme;
  • advised on options to exit unwanted minority shareholders.

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Key contacts

Scott is a leading commercial dispute resolution lawyer with over 25 years' experience in restructuring and insolvency.

David is a leading dispute resolution lawyer with expertise in creditor claims, distressed debt trading and liquidation.

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