Herbert Smith Freehills and Nikki Smythe recognised in global TMA Turnaround/Transaction of the Year Awards

    We are delighted that Herbert Smith Freehills and partner Nikki Smythe have been recognised by Turnaround Management Association (TMA) in the global 2021 Turnaround/Transaction of the Year Awards for her work on the acquisition of Virgin Australia out of voluntary administration. Herbert Smith Freehills joins Bain Capital, Clayton Utz, Deloitte, Houlihan Lokey, and KordaMentha, in … Read more

    It still counts: Hong Kong Court finds minority shareholding has reasonable possibility to benefit winding-up petitioner

    It is well-established that certain core jurisdictional requirements must normally be met before a Hong Kong Court will exercise its discretion to wind up a foreign company (Core Jurisdictional Requirements). These were explained in our previous post: there must be a sufficient connection with Hong Kong, but this does not necessarily have to consist in … Read more

    UK schemes and restructuring plans for businesses in Asia Pacific

    An effective restructuring process will need to apply in all relevant jurisdictions where creditors may seek to enforce their debts against the company. There are often choices for the best implementation mechanism for a cross-border restructuring, which will need to take into account the global footprint and capital structure of each business. Frequently a bespoke … Read more

    TMA submissions on Australian creditors’ scheme of arrangement consultation

    Herbert Smith Freehills’ restructuring, turnaround and insolvency team has supported the Turnaround Management Association of Australia (the TMA) in considering and preparing the TMA’s submissions in response to the Australian Government’s consultation paper Helping Companies Restructure By Improving Schemes of Arrangement (the Consultation Paper). On 2 August 2021, the Treasury released a consultation paper seeking … Read more