Restructuring Works has a strong technical focus and is often called upon to provide expert testimony in relation to a variety of insolvency related matters.
We are commonly instructed by lawyers acting for directors defending claims from liquidators and lawyers acting for trade indemnity insurers making claims for insolvent trading and other Insolvency Practitioners.
Restructuring Works are experienced in managing litigation and can assist, if required, in providing the expert evidence that can be used to facilitate a commercial settlement.
We have over 30 years experience experience acting in the following roles:
Insolvency Experts Report
- investigation and analysis of a company’s financial position and provision of an expert opinion on solvency
- review and analyse reports by liquidators as to the solvency of a company relied upon in pursuit of preference and other claims
- assessment of solvency prior to the appointment of a liquidator
Fraud and Accounting Investigation
- providing expert opinions involving allegations of fraud or accounting irregularities
- analysis and reconstruction of accounting records
- asset tracing
- expert accounting reviews
- financial investigations
- review of funds flow transactions
Litigation Support Services
- calculation of economic loss and financial effect arising under various scenarios in commercial/contractual disputes and for claims relating to professional advice
- reporting on the strengths and weaknesses of opposing expert’s damages report
- assistance with settlement discussions and negotiations
- attendance at trial to hear the testimony of the opposing expert and providing assistance with cross-examination
John Gibbons – Lead Partner
Fellow of Chartered Accountants Australia & New Zealand, Registered Liquidator, Voluntary Administrator, Member Association Independent Insolvency Practitioners
John has more than 30 years specialist experience in corporate recovery, restructuring and reorganisation. He was a Partner of one of the Big4 Accounting firms, Ernst & Young in the Transaction Advisory Services Division for 24 years and Leader of the firm’s National Corporate Restructuring practice.
Cliff Sanderson – Partner
Registered Liquidator, Voluntary Administrator, Chartered Accountant, Board Member of Association Independent Insolvency Practitioners, Member of Turnaround Management Association, Member Australian Restructuring Insolvency & Turnaround Association
Cliff is a corporate restructuring specialist with over 30 years of experience in Australia and internationally. He is the founder and Chief Executive Officer of Restructuring Works. In the last 10 years he has been appointed liquidator of over 700 companies. He was a Partner of Ernst & Young for 10 years.
John’s expert witness experience includes:
- Co-author of a report on the status of HIH which was issued in the months leading up to that organisation’s demise. That report was the subject of considerable coverage by the HIH Royal Commission.
- Project Drogba
An investigative accountant’s report of a national building services company with in excess of 200 construction projects and 4,000 service and maintenance contracts. The client was a major Australian bank. The assignment was undertaken over a 15 month period and involved the following three stages:
Stage 1 – review of the Group’s short-term funding requirements, working capital needs and cash conversion cycle.
Stage 2 – review of the Group’s historical financial statements and financial forecasts, assessment of management capability, and assessment of management information systems.
Stage 3 – monthly review of the Group’s management reports during a nine month period, review of the Group’s financial forecasts, review of a proposed recapitalisation by the Group’s major shareholder
- Project Essien
An investigative accountant’s report of a national building services company with 185 construction projects and 2,000 service and maintenance contracts. The client was a major Australian bank.
The work involved a review of the Group’s financial forecasts as well as an assessment of the Group’s management capability, financial control environment and management information systems.
A major focus of the work was the Group’s construction projects in particular the process for pricing new projects, identifying costs overruns on existing projects and an analysis of the Group’s loss making construction projects
Cliff’s expert witness experience includes:
- Investigating Accountant in a review of a purchasing fraud at a major Indonesian Conglomerate.
- Independent Financial Expert in a large Singaporean Court Case seeking damages in excess of $500m.
- Advisor to Counsel in the review of an opposing Expert’s Report on Insolvency in a Federal Court Preference action.
- Independent Expert assisting Counsel for the defence of a large preference claim against a syndicate of Australian Banks.
- Valuer and Independent Expert in the defence of an Insolvent Trading claim against a large listed Australian mining company.
Restructuring Law can be a complex area and circumstances vary, so we recommend a telephone call for your initial consultation. We will then gladly meet you or just confirm our advice and quote in writing.