TMA submissions on corporate insolvency in Australia

Herbert Smith Freehills’ restructuring, turnaround and insolvency team has supported the Turnaround Management Association of Australia (the TMA) in preparing the TMA’s submissions (TMA Submissions) to the Parliamentary Joint Committee on Corporations and Financial Services (the Committee) for the purposes of its inquiry into corporate insolvency in Australia. Read more

Parliamentary inquiry into corporate insolvency in Australia

The Parliamentary Joint Committee on Corporations and Financial Services (the Committee) has commenced an inquiry into the “effectiveness of Australia’s corporate insolvency laws in protecting and maximising value for the benefit of all interested parties and the economy”.[1] Read more

Can a Chapter 15 order discharge US law governed debt for the purposes of the rule in Gibbs? The Rare Earth and Modern Land decisions

On 6 June 2022, Mr Justice Harris sanctioned a Hong Kong scheme of arrangement for Rare Earth Magnesium Technology Group (the Company) in re Rare Earth Magnesium Technology Limited [2022] HKFCI 1686 (Rare Earth). In some obiter remarks made in the course of that decision, Harris J suggested that a common restructuring practice might not … Read more

Launch of leading Australian book on schemes of arrangement

After almost 9 years in the making, the much anticipated 4th edition of Schemes, Takeovers and Himalayan Peaks: The Use of Schemes of Arrangement has finally been released in conjunction with the Ross Parsons Centre of Commercial, Corporate and Taxation Law at the University of Sydney. The 4th edition covers developments since 2013 and around 800 new … Read more

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