Pharmaceutical industry

Acting in a dispute about rights to shares, and other entitlements, in a group of companies in the pharmaceutical industry. Proceedings were conducted in both the USA (Texas) and Queensland and involved a series of complex factual and legal allegations. The proceedings were resolved on confidential terms.

Also acting for this client in its capacity as the proposed acquirer, by deed of company arrangement (DOCA), of the shares in an ASX listed entity with assets in Australia and the USA. We assisted the client in preparing the successful bid in a competitive bidding process, development of a proposal for a DOCA, and steps to implement the DOCA including lengthy negotiations about performance issues.

Elution Metals

Acting for Elution Metals in various proceedings and in relation to claims against the receivers of the company in Federal Court proceedings in both Queensland and Western Australia which involved whether: the receivers were authorised to sell various assets under section 420B of the Corporations Act 2001 (Qld) which were subject of security interests held by our client; our client could compel preliminary disclosure of information relating to the conduct of the sale; and the receivers could seek orders preventing our client from reliance on certain materials the subject of relief in earlier proceedings.

Nutrano Group – water rights dispute

Acting for an entity in the Nutrano Group which holds and operates a portfolio of agribusiness assets. The client owned certain agricultural water infrastructure assets, and provided water access licenses to third party land-owners (irrigators). A secured creditor appointed receivers over the assets of an irrigator and a dispute arose about whether our client had rights to terminate the access license (and exploit the water access rights). The dispute was the subject of proceedings conducted in the Supreme Court of Victoria on an expedited basis, and which resolved prior to hearing on confidential terms.

Deloitte – Avestra Group 

Acting for the liquidators (of Deloitte) appointed to the Avestra Group of companies, which operated a number of failed managed investment schemes. In particular, we acted in a proceeding in the Federal Court of Australia brought against the former directors of the companies for breach of various fiduciary duties in relation to the investment activities of the group. The proceeding was contested and was resolved on confidential terms.

PWC – failed managed investment schemes

Acting for liquidators appointed over a company which was the trustee of various unregulated managed investment trusts. We acted in contested proceedings to obtain orders for the appointment of the liquidators as receivers over the assets of the trust have subsequently assisted in relation to the realisation of the trust assets, and to take steps to distribute the proceeds and wind up the trusts.

McGrathNicol – Eureka Housing Society (in liq)

Acting in proceedings on behalf of Eureka Housing Society (in liq) and its liquidators, who were appointed by Queensland Treasury Corporation in its capacity as regulator. The proceedings were against Eureka’s director for breaches of various duties and were the subject of various contested applications and reported judgments.

Safe harbour appointment

Assisting in implementing a ‘safe harbour’ restructuring plan and subsequent appointment of voluntary administrators. We continued to be engaged by the companies, and their appointed voluntary administrators, to assist in the development of a proposal for, and implementation of, a DOCA and which resulted in the transfer of the companies to a previous equity participant.

Financial services industry

Advising the foreign parent company of a multinational group providing small credit loans, on implementing a restructure to divest its Australian subsidiary, which resulted in the appointment of liquidators. Also advising our client in relation to the ongoing conduct of the liquidation.

Financial services industry

Acting for a bank in a dispute with the Commonwealth Government about the entitlement to funds held by the bank, and which the Commonwealth claimed were the subject of priority employee claims pursuant to section 561 of the Corporations Act 2001 (Cth).