Tim Klineberg is head of KWM's national restructuring and insolvency practice. Tim is widely acknowledged as a leading restructuring and insolvency lawyer, with deep expertise in complex debt restructuring, recapitalisations and the management of insolvency risk.
Tim has a long track record of leading major restructuring and insolvency mandates in Australia and in the Asia-Pacific Region. He also advises on structuring and documenting transactions to account for default and insolvency risk, and much of his work focuses on planning for and achieving strategic outcomes for clients exposed to distressed situations.
Tim also has significant cross-border restructuring experience gained in Australia and in the United Kingdom, where he practised for several years' His clients include the major Australian banks, a range of corporates and investors which target distressed debt and equity assets.
Tim's work highlights include:
- Tiger Resources restructuring: complex cross-border restructuring completed through a creditors' scheme of arrangement despite being contested by a minority secured creditor.
- Flight Centre recapitalisation: one of the lead partners advising the ASX-listed group on its recapitalisation and cost reduction initiatives to support liquidity through COVID-19 and regulatory responses impacting the travel sector.
- RCR Tomlinson liquidation: lead partner advising the administrators and liquidators, leading a national cross-disciplinary team on this major insolvency.
- EncoreFX liquidation: advising the administrators and liquidators of EncoreFX on all aspects of the external administration which culminated in a judgment of Colvin J of the Federal Court clarifying the application of client money provisions in the Corporations Act.
- SurfStitch recapitalisation: advising the deed administrators on the approval of the settlement of two complex class actions and the distribution of proceeds to subordinated creditors and shareholders, the first time this has occurred.
- Speedcast restructuring - Australian law adviser to the TLB and RCF lenders owed more than USD$700m on all aspects of the complex debtor-in-possession financing and subsequent Chapter 11 proceedings in respect of various Speedcast group members including the ASX listed parent company.