Katherine McMenamin

AREAS OF EXPERTISE

Katherine has wide-ranging expertise in both informal and formal debt restructurings of distressed companies in a variety of sectors, including retail, construction, property, shipping and transportation, energy, mining, technology, and agriculture.

QUALIFICATIONS

• Bachelor of Law – University of Canterbury
• Bachelor of English Language and Literature – University of Canterbury
• Admitted to practise in Australia (New South Wales), Hong Kong, England & Wales and New Zealand.

SELECTED REPRESENTATIONS

• A DOCA proponent on the recapitalisation and restructuring of New Wilkie Energy Pty Ltd. The New Wilkie group entered into administration in December 2023 with debts of over $304m.
• The voluntary administrators of Calidus Resources Limited (ASX) in relation to all aspects of the administration and the negotiation and implementation of six inter-dependent deeds of company arrangement proposed by secured creditor and section 444GA application in Supreme Court of Western Australia.
• A private equity fund as secured lender of LiveTiles Limited (ASX) on enforcement strategy by way of appointment of receivers and ongoing advice to receivers on all aspects of receivership, including managing a competitive bid process and negotiation and completion of the sale of business and assets.
• An asset management fund as secured creditor on enforcement strategy by way of appointment of receivers and administrators and negotiation of back-to back sale transaction implemented through a deed of company arrangement.
• The voluntary administrators of K-TIG Ltd (ASX) and subsidiary Keyhole-TIG on successful promulgation of a pooled DOCA and Creditors’ Trust.
• A private equity fund as shareholder and secured lender on pre-administration sale of assets and appointment of administrators.
• The voluntary administrators of Infinite Water Holdings Ltd in relation to ongoing shareholder dispute and implementation of a DOCA proposal involving a section 444GA application in New South Wales.
• Luckin Coffee Inc., (Cayman incorporated, NASDAQ listed), one of the largest coffee networks in the PRC, in connection with its provisional liquidation in the Cayman Islands and the restructuring of its liabilities under US$460 million 0.75% convertible senior notes due 2025 by way of a scheme of arrangement (cash and new secured debt issuance), in the Cayman Islands, recognised and enforced under Chapter 15 in the US.
• Pearl Holding III Limited, a Cayman incorporated plastic manufacturer with operations in Singapore, Hong Kong, the US, the PRC and Thailand, on restructuring of indebtedness under US$175 million 9.50% senior secured notes due 2022 (SGX-ST listed) by way of a scheme of arrangement (effecting distributions of cash, debt and new perpetual notes) in the Cayman Islands.
• An ad-hoc group of holders (representing approx 90%) of US$75,200,000 convertible bonds due 2020 (SGX listed) issued by Videocon Industries Limited in relation to multiple defaults and enforcement options.  Filed proofs of claim in the corporate restructuring and insolvency proceedings of the Videocon group in India and (in parallel) enforced personal guarantees against the sponsors through the High Court of Singapore.
• An ad-hoc group of holders (representing approx 40%) of defaulted US$500 million bonds due 2020 issued by China Shanshui Cement Group Ltd, a Hong Kong listed company in respect of issuer’s restructuring proposal and shareholder litigation in the Cayman Islands, Hong Kong and the PRC.
• Independent directors appointed to certain investee companies in Holland, Germany and Israel as an interim measure by the High Court of Hong Kong pending the resolution of a dispute over the beneficial ownership of the underlying assets of a private equity fund (incorporated in the Cayman Islands and operating in London, Hong Kong and Shanghai) with an aggregate value of approximately US$1.4 billion, the subject of two ICC arbitrations in Hong Kong.
• Club lenders holding US$500 million of US$1.7 billion debt owed by the Pacific Andes Group of companies, one of the world’s largest producers of fishmeal and fish oil.
• Liquidators appointed in respect of Lehman Brothers Asia Limited (in liquidation), Lehman Brothers Securities Asia Limited (in liquidation), on the implementation of three schemes of arrangement in Hong Kong to close-out the liquidation proceedings.