Gavin Rakoczy

Gavin Rakoczy

Gavin is a Special Counsel in the Banking and Finance team, based in Sydney.

He has over a decade of experience advising clients in relation to restructuring and insolvency-related matters and has provided advice in relation to the full range of issues arising in a distressed environment including security enforcement, corporate restructuring, insolvency ‘proofing’ strategies, security ranking (including PPSA issues), and voidable transaction and insolvency trading claims.

Gavin’s other areas of expertise include contractual disputes, Competition and Consumer Act (formerly the Trade Practices Act) matters, property disputes, equitable and trust issues and Corporations Act matters (including director's duties).

Recent distressed situations in which Gavin has had a key role include:

  • RCR: advised the Administrators of the RCR Group concerning a variety of complex legal issues and facilitated the resolution (without litigation) of a number of commercial disputes arising from the collapse of the group in late 2018 with over 4,000 employees, 100 leased properties and debts of +$650m. As 2IC to lead partner Tim Klineberg, primarily responsible for allocating KWM solicitors across the firm’s Australian offices with the most appropriate expertise to respond to the Administrators’ various requests for advice.
  • Arrium: lead role in the negotiation of market-moving innovative deeds of company arrangement (DOCA) in the Arrium administration, which was one of Australia’s largest distressed debt situations (a global corporate group with +8,000 employees and $3.5B in debt) and was recognised with the “Insolvency & Restructuring Deal of the Year” at the 2017 Australian Law Awards. Subsequently successfully defended proceedings brought by certain trade creditor insurers in relation to the distribution of proceeds generated from the sale of overseas assets.
  • Paladin: Gavin led negotiations for the complex Paladin DOCA and had a critical role in the subsequent implementation of a multi-jurisdictional $700m whole of company restructure, including an associated contested section 444GA Court application.
  • McAleese: KWM acted for the Administrators of the McAleese group of companies which collapsed on 29 August 2016 owing over $100m to its financiers, $50m to trade creditors and up to $42m to employees. A restructure of the Group was implemented just prior to Christmas 2016 via the use of three innovative DOCAs. Gavin had primary carriage of negotiations for the complex suite of DOCAs and related agreements fundamental to the restructuring of the Group.
  • Angas: Together with Tim Klineberg, Gavin acts for Trust Company (Nominees) Limited (owned by Perpetual) in relation to its role as trustee for debenture holders who have invested in the debenture fund managed by Angas Securities Limited. The fund is currently in run-off with debenture holders owed approximately $110m.

Professional Memberships

  • Turnaround Management Association
  • Australian Restructuring Insolvency and Turnaround Association (professional member)
  • Law Society of NSW

Location

Legal insights

This article was written by Gavin Rakoczy. Administration and deeds of company arrangement have continued to have significant influence on major restructurings in the Australian market.  In...

03 October 2018

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