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Jessica Arscott

Associate
Baker & McKenzie

Biography

Jessica is a highly experienced senior associate in Baker McKenzie's Restructuring & Insolvency Team in Sydney. She specialises in restructuring & insolvency, banking & finance, debt and equity restructures and distressed mergers & acquisitions.

Practice Focus

Jessica advises directors, private and public companies, major banks, special situation investors interested in acquiring debt and equity assets and insolvency practitioners in their role as appointees.

In particular, she focuses on advising on near insolvency situations (including directors' obligations, personal liability exposure, creditor rights and various options available to corporations and special situation investors in such situations); negotiating and documenting standstill and refinancing arrangements; distressed investing and M&A; the PPSA; loan and portfolio sales and advising on all aspects of enforcement, receiverships, administrations, DOCAs, liquidations and creditor schemes of arrangement. Jessica works across several industries, but has particular expertise in mining, mining services, retail, retirement villages, financial services and infrastructure.

Representative Legal Matters

  • RCR Tomlinson Group administration and liquidation – advised the administrators (and then liquidators) appointed to RCR Tomlinson Group on all aspects of the administration, liquidation, asset realisation process.
  • Retail Business restructure – advised UK Fund in connection with restructure of corporate and debt arrangements for a distressed Australian retail business.
  • Steinhoff/Greenlit – advised senior bank consortium regarding complex AUD 300 million refinancing of the Australian group in 2018 and subsequent restructure of the international group in 2019.
  • Paladin Restructure – advised 40 bondholders in connection with the administration and bondholder driven restructure of ASX-listed Paladin Energy Limited via a DOCA and master creditor trust deeds, which provided for the extinguishment of USD 700 million unsecured debt, an underwritten USD 115 million note issuance and a s444GA court approved transfer of 98% of the issued capital of PEL to those holding extinguished claims and new investors.
  • Emeco Restructure – advised ad hoc committee of noteholders to ASX listed Emeco Ltd in connection with Emeco's restructure and parallel three-way merger with Orionstone and Andy's Earthmovers.
  • BIS Industries Restructure – advised KKR, the BIS Group and its directors on the AUD 1.2 billion restructure and recapitalisation of the Bis Industries group via 2 creditors schemes of arrangement.
  • Arrium Group Restructure and Sale of Molycop – advised administrators appointed to the Arrium group on various issues with the administration and sale of Molycop.
  • Triton Minerals Restructure – advised administrators of ASX listed Triton Minerals Limited in connection with the restructure and recapitalisation of the company utilising a DOCA, creditors trust and underwritten entitlements issue.
  • Almona Receivership – advised receivers and agents of the mortgagee (as relevant) appointed to various assets owned by the Almona Group, including the Parklea Markets and "The Store" in Newcastle.
  • Project Paringa – advised a special situation fund in relation to bid to acquire/sub participate GE’s leveraged finance book (in the context of Lonestar’s bid to acquire GE’s entire book).
  • Westpac’s AUD 1.45 billion acquisition of Lloyds Banking Australia business – advised Westpac on its acquisition of Lloyds’ corporate loan (BOS International Australia Limited) and asset finance businesses (Capital Finance Australia Limited).
  • Provident Capital Limited – advised trustee of (and receivers appointed by the court to) Provident’s fixed term interest debenture fund.
  • Sunshine Electricity Joint Venture – advised syndicate of banks and then the receivers appointed to the 2 Sunshine Renewable Energy Plants (NSW).

Professional Honors

  • Paladin restructure - TMA 2019 Restructuring Deal of the Year and 2019 Australasian Law Awards Insolvency & Restructuring Deal of the Year
  • Arrium Group Restructure - 2018 Australasian Law Awards - Insolvency & Restructuring Deal of the Year + Australian Deal of the Year
  • Emeco restructure - 2017  Australasian Law Awards Insolvency & Restructuring Deal of the Year

Professional Associations and Memberships

  • Turnaround Management Association (TMA), Australia - Member
  • Australian Restructuring Insolvency and Turnaround Association (ARITA) - Member

Admissions

  • High Court of Australia~Australia (2018)
  • New South Wales~Australia (2010)
  • Victoria~Australia (2008)

Education

  • University of Queensland (LL.B. Hons) (2005)
  • University of Queensland (BA) (2003)

Languages

  • English