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Sydney

  • Level 3, 1 Castlereagh Street Sydney NSW 2000

Brisbane

  • Level 9, 123 Albert Street Brisbane QLD 4000

Hugh Armenis / Partner, Corporate Recovery, Sydney

Email
harmenis@bcr.bentleys.com.au
Phone
+61 2 8078 2100
Fax
+61 2 9230 0066
Office
Bentleys Corporate Recovery
Hugh has practised in both accounting and legal firms during the last 20 years and has been a Partner at Bentleys since 2012. The ability to compliment a chartered accounting qualification with a legal background has provided a unique foundation for working across a broad range of industries. Leading teams and working with clients to provide time effective solutions to complex matters has been a key focus.

Hugh has been personally appointed to formal corporate insolvency engagements, being Receiverships, Liquidations, Voluntary Administrations, Deeds of Company Arrangement and Scheme of Arrangement. He has also conducted Investigative Accountants Reports and Expert Reports across various industries and has undertaken corporate government advisory roles.

Hugh has also led multi-disciplined teams (e.g. Tax, Audit, Financial Services, Consultants/Experts, Legal) across local and multiple international jurisdictions. He has extensive cross border experience, in particular relating to the United Kingdom, United States and Bermuda.
 
Major Liquidations:
  • New Cap Reinsurance Corporation Limited
  • This was an appointment to an international reinsurance company which was listed on the ASX. In consultation with other insurance, actuarial and tax specialists, Hugh project managed cross-border recoveries and litigation and conducted proceedings in the High Court. Recoveries in excess of $200 million were achieved through claims management and litigation across various jurisdictions including Australia, U.S. U.K. and Bermuda.
  • SMS Advising Group P/L /SMS Administration Group P/L
  • This was a court-appointed liquidation to a financial services company and two managed investment schemes.  ASIC was the petitioning creditor. A forensic analysis of creditor deposits was required in order to trace them to the relevant investment. An investigation of the director was undertaken to identify any possible civil and criminal offences that were committed.
 
Multi-Industry Liquidations:
  • Austin Australia Pty Limited
  • This was an appointment as voluntary administrator to a building and construction company.  It involved an investigation of an insolvent trading claim and the arbitration of a claim against a local council. The end result saw a significant return to the estate.
  • Alliance Group Building Services Pty Limited
  • This was an appointment as voluntary administrator to a building and construction company. Return to creditors was maximized by trading under a DOCA and completing litigation that was underway at the time of appointment.
 
Major projects:
  • Restructure and streamlining of a large multi-national corporation listed on the Australian Stock Exchange with an anticipated removal of approximately 100 companies from its corporate restructure
  •  Administering the Brookfield Multiplex enforceable undertaking. Developing and implementing claims forms, management systems and adjudication processes in order to give effect to the distribution of funds, c. $30 million
  • Personally appointed to various assets/businesses by secured creditors or directors with debts ranging up to $50 million
  • Advisor to the New South Wales and Queensland governments on various engagements including transport infrastructure projects, supplier reviews and corporate governance issues.
Qualifications
  • Registered and Official Liquidator
  • Admitted Solicitor

 Current Adminstrations

Professional Memberships

  • Member of the Chartered Accountants Australia and New Zealand
  • Member of ARITA (Australian Restructuring Insolvency & Turnaround Association)

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