Peter Smith Partner

Meet Peter

Peter has 27 years experience in all aspects of corporate turnaround, reconstruction and insolvency.

He has also specialised in insolvency and professional negligence related litigation, having prosecuted and defended negligence actions against accountants and directors arising out of liquidations and receiverships.

In addition, he has extensive experience in trade practices, corporate law and tax disputes.  With his training in alternate dispute resolution procedures, he is an advocate for seeking to resolve disputes in the earliest time frame possible.

Peter is endorsed as a leading restructuring and insolvency practitioner in Chambers Asia-Pacific (Australia) 2019 guide (and other publications) noting that clients praise him for his work in property receiverships in Queensland following the global financial crisis and recent environmental disasters. He has dealt with assets over AUD300 million in relation to these receiverships. In 2019, Peter was acknowledged in Best Lawyers as 2020 Queensland Lawyer of the Year for Insolvency and Reorganisation.

Peter is also endorsed as a leading commercial litigator by ‘Best Lawyers’ (2019) and also included in the category of ‘Bet –the-Company Litigation” (together Alternative Dispute Resolution and Litigation).

Experiences

General

Board of Mackay Sugar

Advised the Board throughout the company’s successful restructure that was implemented over an 18 month period.

Department of Environment and Science

Acting for the party to a test case commenced by the Liquidators of Linc Energy seeking directions as to whether the property of the company should be applied to fund substantial rehabilitation costs in priority to claims of priority creditors, including employees.

Cockatoo Coal

Acted for the US based major shareholder and financier of Cockatoo Coal, which was successfully restructured under consecutive deeds of company arrangement and creditors trust with a funding injection of $100,000.

I-MED Group

Peter was part of his former firms’ restructuring team that advised the Senior Banking Syndicate on the restructuring of the I-MED Group, Australia’s largest, privately owned diagnostic imaging network. The transaction was one of the most significant restructuring transactions in the Australian market of the last 7 years and has been referred to in the press as a ‘model debt-for-equity swap deal for a few private equity situations ahead’.

Recognition

Ranked as a leading lawyer in restructuring/insolvency
Chambers Asia Pacific, 2020
Recommended by Doyles Guide for commercial litigation & dispute resolution
Doyles Guide, 2020
2020 Queensland lawyer of the year for insolvency and reorganisation
Best Lawyers, 2019
Ranked as a leading lawyer in bet-the company litigation and alternative dispute resolution
Best Lawyers, since 2019
Recognised as a pre-eminent insolvency practitioner
Doyle’s Guide to the Australian Legal Profession 2016 to 2019

Career & qualifications

Qualifications

  • Bachelor of Laws (Hons), University of Queensland
  • Bachelor of Commerce, University of Queensland

Memberships

  • ARITA, the Turnaround Management Association
  • Insolvency and Reconstruction Law Committee of the Law Council of Australia
  • Law Society of Queensland

Insights Read more insight

Court directs whether work-in-progress and other intangible ‘assets’ are ‘circulating assets’

The Supreme Court of New South Wales has helpfully given guidance to the liquidators of the RCR Tomlinson Group on a number of unsettled questions that have challenged insolvency practitioners...

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