Insolvency & Reconstruction
Palisade Corporate has historically acted for various administrators, liquidators (privately or court appointed), creditors and directors in all aspects of insolvency related law. Our preferred approach is to work closely with the relevant stakeholders so that commercially sensible outcomes can be achieved without the need to litigate. Our team is equipped to seek intervention by the courts should the need arise in an insolvency or near insolvency situation.
We also have extensive experience in recapitalisation mechanics and legal documentation and can assist and provide legal advice on all the processes required to complete a reconstruction of a company.
Palisade Corporate has extensive experience in providing all legal advice to its clients in the acquisition, reconstruction and recapitalisation of ASX listed shells. We have acted in a broad range of capacities including:
negotiation and preparation of reconstruction agreements, deeds of company arrangement and creditor's trust deeds;
representation at creditor and shareholder meetings as well as preparation of meeting documentation;
creditor and administrator liaison;
liaison with ASX and ASIC; and
preparation and negotiation of transaction documents for the acquisition and disposal of assets.
LitigationActed for an accounting practice in a dispute brought by a former unit-holder in the Supreme Court Western Australia. Acted for a cross respondent in large scale class action proceedings in the Federal Court in NSW relating to alleged misleading and deceptive IPO and capital raising. Acted for a tenement holder in negotiating a resolution to Supreme Court proceedings involving the construction of a Mineral Rights Deed in relation to high value gold exploration licences. Acted for ASX listed companies in curative relief applications under s 1322 of the Corporations Act 2001. Acted for both former directors and employees, and for companies (ASX listed and private) in relation to disputes under employment and executive services agreements, particularly in respect to restraint of trade provisions. Acted for both insolvency practitioners in recovering unfair preferences and uncommercial transactions, and creditors in resisting claims brought by liquidators for unfair preference payments. Acted for shareholders and directors of a deadlocked private company in oppression proceedings in the Supreme Court. Acted in debt recovery proceedings in the Magistrates (<$75,000), District (<$750,000) and Supreme Courts (>$750,000) for a range of public and private companies, and individuals. Acted in numerous cases where advice has been provided to both shareholders and ASX listed companies in relation to action taken under section 249D of the Corporations Act to remove and replace directors. Successfully negotiating a resolution to a dispute with an ASX listed gold exploration company on behalf of a shareholder in relation to shares and options due under a Term Sheet