Glenn Caligaris

restructuring

Client problem

outcome achieved

Glenn was able to successfully restructure the business so that performing business units within the group were able to continue to operate as per usual.  This involved developing a turnaround strategy for the listed group, advising in respect of "Safe Harbour" opportunities, negotiating the re-financing of secured and unsecured debt, the sell down of non-performing assets and re-orientation of the business operations.

Fraud and restructuring

Client problem

outcome achieved

Glenn managed the exit and seizure of assets of the fraudster.

This ultimately resulted in those assets being sold and the net sale proceeds remitted to the client. He introduced consultants to reconstruct the group's financial records and implement a better system of checks and balances to mitigate the risk of future fraud. He assisted the business to refinance its facilities, advised in respect of the voluntary administration of non-performing entities within the group and negotiated the compromise in part of taxation liabilities allowing the performing entities within the group to continue trading.

regulatory compliance and insolvency

Client problem

outcome achieved

Glenn successfully opposed the ASIC's pressure and ultimately applied to the Court for orders allowing the responsible entity to wind down the fund itself under supervision at a fraction of the cost of receivers attending to the same. He then assisted the responsible entity to wind down the fund and manage creditor claims, including professional negligence claims, ASIC inquiries and investigations and disputes with borrowers resulting in an average return to investors of greater than 85 cents in the dollar.