Restructuring & insolvency


Insolvency and restructuring assignments require a commercial approach. Our lawyers are skilled at balancing the technical solution with the unique circumstances surrounding our clients’ business objectives.

Our ability to blend the legal duties and obligations of the client with the commercial realities of insolvency underpins the legal counsel we provide.

We regularly represent listed and unlisted corporate debtors, secured and unsecured creditors, liquidators, voluntary administrators and receivers throughout Australia and overseas on corporate workouts, debt recovery, reconstructions and corporate insolvency.

Our expertise covers both disputes and advisory matters for many major multinationals, including Microsoft Corporation, McDonald’s Australia, Treasury Wine Estates, SABMiller, Unilever, and Blackmores.

We draw on our experience in a range of industries and markets to advise on the diverse activities of companies including:

  • advice to boards on disclosure and solvency issues
  • restructuring and negotiation of debt facilities and debt instruments
  • acting for administrators, receivers and liquidators in all aspects of their administration
  • advice on reconstructions and re-listing of companies
  • advice to secured and unsecured creditors on all aspects of enforcement and restructuring
  • acting for bidders for distressed assets
  • preparing and implementing deeds of company arrangement
  • litigation funding.

In workouts and restructurings, our restructuring and insolvency partners work closely with our specialist debt finance partners to provide an integrated, cross-disciplinary team with the full range of skills which may be required.


Recent matters


Acted for PKF Melbourne in their capacity as liquidators of APCHL in relation to one of the largest retirement village collapses in Australia.

Angas Securities Limited

Continuing to act on the run-off of its A$220 million debenture fund including numerous contested court hearings in the Federal Court against the trustee, Perpetual, and the structuring and obtaining of approval in April 2019 for a scheme of arrangement.

Black Oak Minerals

Acting for KordaMentha in their capacity as liquidators of Black Oak Minerals on the sale process of the Marda Gold Project to Ramelius Resources Limited through a DOCA and court application, pursuant to section 444GA of the Corporations Act 2001 (Cth).

Flow Systems Group of Companies

Advised Brookfield, in its capacity as shareholder and majority secured creditor on the deed of company arrangement (DOCA) proposal and the acquisition of the business through DOCA (involving the preservation of business).

Gunns Group

Acting for PwC (formerly PPB Advisory) in their capacity as liquidators of the Gunns Group in almost 200 recovery actions.

Halifax Investment Services

Acting for Ferrier Hodgson in their capacity as voluntary administrators of Halifax Investment Services.


Acting as a representative creditor and investor seeking to assert the rights of a certain class of creditor/investor to maximise their return in the Courtenay House liquidation.

Linc Energy

Acting for PwC (formerly PPB Advisory) in their capacity as liquidators of Linc Energy including the successful defence of the High Court Appeal in respect of environmental liabilities for liquidators.

Northern Energy Corporation and Colton Coal

Acting for Grant Thornton in their capacity as administrations of Northern Energy Corporation and Colton Coal (two subsidiaries of the listed New Hope Group).

PrimeSpace Property Investment Ltd

Acting for McGrathNicol in their capacity as voluntary administrators and liquidators of PrimeSpace Property Investment Ltd, the developer of multimillion dollar property developments.

Babcock & Brown Limited

Acting for Deloitte in their capacity as liquidator of Babcock & Brown, a large multinational investment fund that collapsed post the GFC.


"They exceeded expectations; they went the extra mile, doing what it took to work through issues," "they're very good in the litigation area, they're very commercial and very experienced."
Chambers Asia Pacific, 2018
David Proudman and Joseph Scarcella are ranked as leading lawyers in Restructuring and Insolvency.
Chambers Asia Pacific, 2018
"The thing which really differentiates their practice is the amount of partner time and partner attention for the client."
Chambers Asia Pacific, 2018
David Proudman: "He's good because he doesn't work for the banks so he's not so conflicted, and he has as good a knowledge as anyone in the country in this area. In terms of debtor-only work, I don't know anyone who's better than him."
Chambers Asia Pacific, 2018
Joseph Scarcella is noted as "an individual who takes control of the matter
Chambers Asia Pacific, 2018
David Proudman, Joseph Scarcella, Matthew Allchurch and Paul Buitendag are recommended lawyers in Restructuring & Insolvency Law.
Asia Pacific Legal 500, 2018
Paul Buitendag and group head David Proudman, are “always accessible and available, and handle complex issues while focusing on a commercial outcome”.
Asia Pacific Legal 500, 2018
Paul Buitendag and group head David Proudman, are “always accessible and available, and handle complex issues while focusing on a commercial outcome”.
Asia Pacific Legal 500, 2018
David Proudman, is commended for his “understanding of complex issues” and his “high-quality advice.”
Asia Pacific Legal 500, 2018
Ben Renfrey, David Proudman and Jim Hunwick are named as leading lawyers in Insolvency and Reorganisation Law.
Best Lawyers Australia, 2018
"I really do not think there are any material improvements they could make. I know quality when I see it and it was an unprecedented experience."
Chambers Asia Pacific, 2017

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