Red Lea Group
Red Lea Group

RESTRUCTURING | INSOLVENCY

Conducted the wind down of the Red Lea Group’s farm, logistics, processing and retail operations. We pro-actively engaged with stakeholders including employees, farmers and franchisees to minimise the impact. Our investigations identified the transfer of assets and potential claims against related parties. We negotiated a Deed of Company Arrangement, as an alternative to liquidation. It is expected that full payment will be made to secured and priority creditors.

__Insolvency__ __Restructuring__ Agribusiness Retail
The Coomboona Group
The Coomboona Group

RESTRUCTURING | INSOLVENCY

We were appointed receivers of The Coomboona Group by the primary secured creditor on the back of a shareholder dispute. Together with our dairy industry alliance partner, we quickly stabilised cash flow and rationalised operations (herd size, management structure, feed regime) to facilitate the going concern sale of the business. Our client’s mortgage was acquired by the 2nd ranking charge holder with our client making a full recovery including costs.

__Insolvency__ __Restructuring__ Agribusiness
VCS Civil and Mining
VCS Civil and Mining

RESTRUCTURING | INSOLVENCY

As Receiver and Manager, appointed by a private investment and advisory firm, we managed a controlled wind down of the business and developed and implemented comprehensive realisation strategies across a portfolio of assets, including a fleet of equipment, various downstream equity interests and a portfolio of residential and commercial property.

__Insolvency__ __Restructuring__ Resources
Project Build – New Zealand
Project Build – New Zealand

RESTRUCTURING | TURNAROUND

We undertook an independent review of a large New Zealand residential home builder for the board and its financier, to highlight strategic risks and steps the company could take to mitigate these risks. Our review covered the businesses stock (land and buildings), management systems, impacts of market forces, cash flow and capital structure.

__Restructuring__ __Turnaround__ Construction & Engineering
Limes Group
Limes Group

RESTRUCTURING | INSOLVENCY

Receivership and controllership appointments over the entities that operate and own ‘Alfred and Constance’ (pub/restaurant) and ‘Limes Hotel’ (21 rooms) in Brisbane. We implemented a trading strategy and reopened each venue. The assets were marketed for sale as going concerns through a hospitality industry specialist agent.

__Insolvency__ __Restructuring__ Hospitality
Topshop – New Zealand
Topshop – New Zealand

RESTRUCTURING | INSOLVENCY

With no offers for the Topshop New Zealand business, we were appointed receivers and leveraged our retail expertise to maximise returns from stock through targeted marketing and merchandising. We also generated proceeds from assigning leases and recovering overpaid rent, resulting in preferential creditors being paid in full and a return for the secured creditor.

__Insolvency__ __Restructuring__ Retail
Intueri Education – New Zealand
Intueri Education – New Zealand

RESTRUCTURING | INSOLVENCY

As Administrators of this ASX/NZX listed education provider we ensured the schools continued uninterrupted, with full support of the regulators and major stakeholders. Managing a prompt sale to a major private education provider significantly reduced contingent liabilities that would otherwise have crystallised from the loss of jobs, abandonment of leases, and cessation of teaching.

__Insolvency__ __Restructuring__ Community
Pumpkin Patch – New Zealand
Pumpkin Patch – New Zealand

RESTRUCTURING | INSOLVENCY

As Administrators of Pumpkin Patch, we investigated and reported on the key causes of the failure of this ASX/NZX listed children’s clothing retailer, which were set out in our public report to creditors and shareholders. Key causes were an inefficient store network, failed international expansion, poor systems, and excessive dividends.

__Insolvency__ __Restructuring__ Retail
Slater and Gordon Limited
Slater and Gordon Limited

RESTRUCTURING | SPECIAL SITUATIONS

Lead advisor to an international syndicate of banks across Australia, Asia and the UK owed in excess of AUD$800m. Our in depth analysis and strategic guidance assisted our clients to evaluate and improve the restructuring options presented by the Company and ultimately exit at optimal value. We also played a central role in formulating the debt for equity recapitalisation structure which was ultimately implemented.

__Restructuring__ __Special Situations__ Financial Services
NEWSAT LIMITED
NEWSAT LIMITED

RESTRUCTURING | INSOLVENCY

As Receivers and Mangers we successfully traded and sold the core satellite telecommunications and teleport business to a global communications provider. Concurrently, we leveraged US Bankruptcy proceedings to preserve NewSat’s interest in a satellite in the US while we explored recapitalisation options in respect of the listed entity. We continue to pursue litigation against the former directors with the support of the secured lenders.

__Insolvency__ __Restructuring__
South Canterbury Finance – New Zealand
South Canterbury Finance – New Zealand

RESTRUCTURING | INSOLVENCY

As Receivers of South Canterbury Finance, New Zealand’s largest non-bank deposit taker, we stabilised the business and operations, improved credit processes, and protected the value of assets. We managed the successful sale of key assets including Scales Corporation, Helicopters NZ, Dairy Holdings, the Business, Consumer and Rural loan books and managed the run off of Southbury Insurance.

__Insolvency__ __Restructuring__ Financial Services
Cubbie Group
Cubbie Group

RESTRUCTURING | INSOLVENCY

We negotiated funding to continue the farming operations of Cubbie Group. Through careful stakeholder management and clear communication strategies, we were able to navigate through complex political and public relations issues to capitalise on favourable seasonal conditions. This allowed us to generate unprecedented trading profits and position Cubbie’s unique assets for a ground-breaking sale transaction.

__Insolvency__ __Restructuring__ Agribusiness
Nylex Group
Nylex Group

RESTRUCTURING | INSOLVENCY

As Receivers & Managers we stabilised the business, curtailed trading losses and marketed the various businesses for sale. We negotiated and concluded 12 sale agreements over a 6 month period while trading each of the business divisions. Full repayment to priority creditors was achieved in addition to a greater than expected return to the secured lender.

__Insolvency__ __Restructuring__ Manufacturing
Centro Properties Group
Centro Properties Group

RESTRUCTURING | SPECIAL SITUATIONS

Lead financial advisor to the Australian lender group, comprising eight banks and numerous US private placement noteholders, collectively owed circa AUD$4.5 billion. We implemented a ground breaking 3 year stabilisation plan and restructured Centro Properties Group assets. The consolidated Group remains listed on the ASX and continues to trade successfully.

__Restructuring__ __Special Situations__ Property Retail