Snapshots of the insolvency and restructuring solutions we deliver
In a fast paced business environment, “business as usual” can become unsustainable and swift changes may need to be put in place. In times of business distress, expert advice and guidance can make a significant difference to the end result.
Bentleys has a national specialist team of professional insolvency and restructuring advisors with a background working with all business types across a range of industries, including agribusiness, health and ageing, property and construction, Government and public sector, and family owned businesses and SMEs. Our team has specialist skills in turnaround management, divestment, corporate finance, restructuring and insolvency.
Snapshots of recent assignments include:
- Landmark liquidation: Octaviar Administration and Octaviar Limited: One of the largest insolvency files in recent corporate history, the liquidation of this major financial services group involved complex litigation in Australia and overseas. Outcomes included: $210M reconveyed to estate creditors | $55+M dividends paid to unsecured creditors | Full payment of all employee claims | Sale of 45 childcare properties | Recovery of significant related entity and intercompany loans.
- Voluntary administration: Skytrans Regional Airlines: This engagement saw the novel application of a creditors’ trust to preserve an Air Operating Certificate (AOC). This was the first time an AOC has been preserved following an external administration. Skytrans was acquired by aviation entrepreneur, Peter Collings, and NRL Legend, Johnathan Thurston.
- Debt restructure for a rural enterprise: We worked with a long-established rural operator to rebuild their relationship with their bankers by re-establishing the reporting schedule, managing the debt restructure and developing a sustainable business model that aligned to the bank’s covenants.
- Childcare administration/liquidation: During the six month trading period for this appointment, we maintained industry compliance and increased occupancy. A generous return was made to creditors and ensured the ongoing operation of the centres for the local community.
- Voluntary administration of payday lender: After successfully trading 67 stores, we negotiated a licence agreement that solidified the company, maximised future employment opportunities for staff, continued collection of the loan book and reduced trading creditor claims.
- Aged care review: We reviewed the operations and future sustainability of a highly geared owner/operator of retirement villages on behalf of its lender. We advised on the recovery prospects of existing loan facilities and potential strategies to improve recovery outcomes.
- Reinsurance company liquidation/scheme: We administered the Liquidation and hybrid Scheme of Arrangement for a major international Reinsurance company, listed on the ASX, which involved significant cross border issues and litigation in multiple jurisdictions, including USA, UK and Bermuda.
The Bentleys Team
Tracy Knight
Partner
Bentleys Corporate Recovery (Brisbane)
Damien Lau
Director
Bentleys Corporate Recovery (Brisbane)
Matthew Wilson
Associate Director
Bentleys Corporate Recovery (Brisbane)
Kelly Wheelahan
Associate Director
Bentleys Corporate Recovery (Brisbane)
How can we help you?
Our professionals deliver customised and value-for-money solutions that meet the individual needs of our clients, including:
- Restructuring: Reorganising the legal, ownership, operational, or other structures of a company can make it more profitable. Restructuring offers benefits to businesses – both healthy and ailing – by strengthening frameworks and improving operations.
- Turnaround Management: We find solutions for underperforming businesses through analysis, long-term strategic planning and restructuring advice.
- Voluntary Administrations (VA): An insolvency process that provides a company that is insolvent (or likely to become insolvent) with the opportunity to restructure its business in consultation with its creditors; or plan for an orderly sale of the assets in a Liquidation.
- Debtor Advisory Services: When the relationship between a lender and the borrower is under stress, debtor advisory services – such as business planning, cashflow forecasting and renegotiation of repayment terms with the bank – can assist.
- Corporate Streamlining (MVL): A Members Voluntary Liquidation (MVL) is the process of simplifying and rationalising unwieldy and inefficient group structures.
- Creditors Voluntary Liquidations (CVL): This is a cost effective and timely process to place a company into Liquidation.
Our experience working across a diverse range of industries means we know the questions to ask and what to look for to tailor solutions to your business.
Want to improve your business future? Bentleys can help.
Hear what our clients have to say
Family businesses, SMEs, listed entities, professionals, individuals, not-for-profits and government agencies rely on us to deliver solutions that meet their needs. Their success is our passion.
My dealings with the Bentleys Corporate Recovery team have all been great. They provide knowledgeable and practical advice and are highly approachable.
Legal Sector Client NSW
The Bentleys Corporate Recovery team is approachable, communicative and commercially practical.
Finance Sector Client NSW
Staff at Bentleys Corporate Recovery have a strong focus on building and developing relationships with us and our clients. They're approachable and easy to deal with.
Legal Sector Client NSW