Restructuring, Turnaround and Insolvency

In times of financial uncertainty and increasingly complex business arrangements, more than ever, corporations and individuals need to be able to turn to a firm with an impressive track record in reconstruction and insolvency. Cornwalls boasts a deep understanding of such issues and has a unique pedigree in the insolvency industry. Few firms in Australia can boast a history as long and as extensive as that of Cornwalls.

Our multidisciplinary team comprises lawyers with a background in litigation, banking and finance, corporate, insolvency, commercial, property, tax and workplace relations across Melbourne, Sydney and Brisbane. As a team whose practitioners operate in every area of business and commercial life, it is uniquely placed to predict and, where necessary, react to a variety of situations. Where fast action is required, our team has the resources and expertise to take charge and manage the situation.

The team at Cornwalls act for insolvency practitioners, domestic and international banks and financiers, creditors (secured and unsecured), companies, directors and private clients in all aspects of reconstruction and insolvency advice and disputes. We have been listed by Doyle’s as Recommended in Leading Insolvency & Restructuring Law Firms – Victoria, in the 2017, 2018 and 2019 guides.

We have insolvency experience in a wide range of industries, including:

  • managed investment schemes
  • forestry, agriculture and rural
  • education (particularly, registered training organisations)
  • retail
  • manufacturing
  • building, construction and trade industries
  • banking and finance. In conjunction with our Banking and Finance team, we have a particular focus on the debtor and equipment finance industries
  • property
  • telecommunications
  • social media and IT

Expertise

  • voluntary administrations
  • receiverships
  • liquidations
  • bankruptcy
  • personal insolvency agreements
  • reconstructions and workouts
  • Safe Harbour and Ipso Facto
  • creditors’ rights and obligations
  • directors’ rights and obligations
  • secured lenders
  • Personal Property Securities Act
  • priority disputes

Examples

  • liquidators of the Prime Trust

  • liquidators of the Wettenhalls Group

  • liquidators of Hazelton Airlines
  • liquidators of Newtronics
  • liquidators of Beechworth Land Estates
  • creditors of Opus Prime
  • creditors and scheme members of Great Southern and Timbercorp,
  • creditors of Acquire Learning Group
  • creditors of Colorado Group
  • creditors of OneTel – acting for Lucent Technologies
  • deed administrators of Forest Enterprises Australia

  • deed administrators/liquidators of Big Un acting against Big Un’s directors and offices, accountants and auditors and related third parties

  • Amaca Pty Ltd and Amaba Pty Ltd – James Hardie off-shoots in their insurance claims against the Liquidators of HIH Casualty and FAI General (in Liquidation) and a large quantity of underwriters/reinsurers

  • Negotiating numerous commutations with London underwriters on asbestos liability

Our People

Andrew Sutherland

PARTNER, SYDNEY

Radhika Kanhai

Partner, MELBOURNE

Bianca Quan

PARTNER, MELBOURNE

Jarrod Munro

PARTNER, MELBOURNE

John Hutchings

PARTNER, MELBOURNE

Nick Amore

PARTNER, MELBOURNE

Paul McCann

PARTNER, SYDNEY

Paul Agnew

PARTNER, BRISBANE

Paul Evans

PARTNER, BRISBANE

Stephen Sawer

PARTNER, MELBOURNE

Bishoy Genday

SENIOR ASSOCIATE, SYDNEY

Evelyn Ooi

SENIOR ASSOCIATE, MELBOURNE

Matthew Kennett

SENIOR ASSOCIATE, SYDNEY

Stephanie Davies

ASSOCIATE, MELBOURNE