As deleveraging to control transactions continue to be part of the legal landscape in Australia, we anticipate seeing further examples, particularly where the distressed company is a listed entity.
Australia, Capital Markets, Corporate Finance/M&A, Insolvency & Restructuring, Litigation, Clayton Utz, Liquidation, Australian Securities Exchange, Corporations Act 2001 (Australia)
The Boart Longyear decisions confirm that class constitution remains a critical issue for review when pursuing creditors' schemes of arrangement.
The New South Wales Court of Appeal has recently confirmed the circumstances in which companies seeking approval of schemes of arrangement will be required to convene separate meetings for different classes of creditors.
Class constitution: key principles
Australia, Corporate Finance/M&A, Insolvency & Restructuring, Litigation, Clayton Utz, Unsecured debt, Debt, Secured creditor, Corporations Act 2001 (Australia), New South Wales Court of Appeal