Tim Klineberg

Tim Klineberg

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 has impressed us with both his restructuring expertise and also his ability to handle complex intercreditor arrangements."

"He's got a great legal knowledge, is extremely approachable and understands the need for commerciality."

Representative matters

Company engagements

  • Flight Centre Travel Group – on the restructuring elements of its A$700 million entitlement offer and institutional placement
  • Tiger Resources – on its complex cross-border restructuring implemented through scheme of arrangement
  • Alita Resources – advising the company on recapitalisation options, then subsequently the administrators and deed administrators on the successful restructuring through deed of company arrangement and share transfer
  • RCR Tomlinson – on solvency and recapitalisation options, then subsequently the administrators and liquidators on the successful asset realisation process and complex pooling and proceeds distribution
  • Paladin Energy – on its restructuring proposals, then subsequently the administrators and deed administrators on all aspects of administration and recapitalisation through deed of company arrangement and share transfer
  • Surfstitch – on solvency and recapitalisation options, then subsequently the administrators and deed administrators on the prospective resolution of multiple class actions through deed of company arrangement.
  • McAleese – advising the administrators and deed administrators on all aspects of the administration and subsequent restructuring by deed of company arrangement
  • Boart Longyear – advising the directors on the complex restructuring completed in 2017 by scheme of arrangement
  • Emeco/Orionstone – advising Orionstone on its restructuring and participation in the merger with Emeco and Andy’s Earthmoving implemented through creditors’ scheme of arrangement

Lender engagements

  • Speedcast – the term loan and revolving credit lenders on Australian law aspects of their exposure (circa US$700 million)
  • Arrium – the syndicate of lenders and noteholders on all aspects of the complex administration, asset realisation process and recapitalisation through deed of company arrangement (circa $3 billion exposure)
  • Steinhoff Asia Pacific – the syndicate of lenders on the complex refinancing of their ~$300 million facility, linked to the restructuring of the global Steinhoff group
  • Basslink – the syndicate of lenders on the complex refinancing and interpretation of complex project documentation
  • Angas Securities – the Trust Company as trustee on all aspects of the trust scheme, run-off process and subsequent restructuring by creditors’ scheme of arrangement

Admissions

  • Admissions New South Wales - 2002
  • England and Wales - 2007

Professional memberships

  • Turnaround Management Association (TMA)
  • Law Societies (New South Wales, England and Wales)

Qualifications

  • 2001: Diploma of Legal Practice
  • 2001: LLB (Hons), University of Newcastle
  • 1999: B. Ec (Hons), University of Newcastle

Location

Legal insights

This article was written by Tim Klineberg and Gavin Rakoczy. The issue The priority of secured creditors to receive distributions out of secured assets is heavily entrenched in the Australian...

17 June 2020

So far, the Australian Securities Exchange (“ASX”) has provided a safe harbour for issuers to weather the COVID-19 storm, allowing traditional and accelerated equity raisings. Initially, it was not...

15 June 2020

Head of KWM’s Restructuring and Insolvency Practice Tim Klineberg and M&A Partner Paul Schroder unpack their high-speed $700million Capital raising for Flight Centre, a deal which...

01 May 2020

Australia is presently grappling with some unprecedented changes brought on by the COVID-19 outbreak: personnel in quarantine, borders closing and worksites at a daily risk of lock-down. In this...

24 March 2020

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