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Transactional advisory

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Blogs Transactional 47
Blogs Transactional 48
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The matter

Aston Chace was engaged by an asset finance provider to represent their interests as a secured creditor of an ASX-listed healthcare business in voluntary administration. The business comprised a significant number of acquired practices where former owners became joint venture partners, with the group providing facilities and back-office support across the network.

The solution

The voluntary administrators disclaimed a number of unprofitable sites and commenced the sale of the remaining profitable practices. Aston Chace believed that the value in the business related to the secured creditor’s assets, and without agreement to assign those assets the purchaser would not proceed with the sale.

The outcome

Aston Chace has negotiated assertively and creatively with the voluntary administrators and purchaser to recover sufficient value from any asset sales, and to avoid the client’s assets being sold off individually. In doing so, Aston Chace sought to lower the leverage across the sale of the group’s profitable practices.

Blogs Transactional blog-5