find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Real Estate & Projects Lawyer (6+ years PAE)
Category: Property Law | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Top tier firm with offices nationally · High profile clients
View details
ABL acts on $28 million timber mill sale

ABL acts on $28 million timber mill sale

Arnold Bloch Leibler, Minter Ellison and City Pacific have advised on a $28 million timber mill sale

ABL acts on $28 million timber mill sale

Firms: Arnold Bloch Leibler (Hermal Group and Australian Sustainable Hardwoods), City Pacific (Gunns), Minter Ellison (Commonwealth Bank of Australia)

Deal: The purchase of the Heyfield timber mill, the largest hardwood timber mill in Australia, from Gunns Limited and its subsidiaries

Area: Commercial

Value: $28 million

 Key players: ABL partner Jeremy Leibler (pictured) conducted the deal together with lawyers Jason van Grieken and Damien Cuddihy. Elizabeth Michael from City Pacific acted for Gunns and their in-house legal team.

Deal significance: On 4 May 2012, the parties signed a sale agreement in respect of the sale of the Heyfield timber mill. Following entry into the sale agreement, ABL also acted for Australian Sustainable Hardwoods in relation to court proceedings brought against Gunns Limited for refusing to sign ancillary documents relating to the sale of the Heyfield timber mill. The dispute was successfully resolved prior to a court-ordered mediation. The transaction settled on 29 May 2012 and Australian Sustainable Hardwoods has committed to retaining all 200 employees at the Heyfield timber mill site. The transaction also involved Australian Sustainable Hardwoods obtaining a combination of debt funding from Commonwealth Bank of Australia and equity funding from a group of private investors. The sale completes Gunns’ national exit from operations based on native forest wood supply.  “This was an extremely challenging transaction with many twists and turns. We are pleased that we were able to achieve a quick and commercial resolution to the dispute that arose between the parties,” said Jeremy Leibler.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

ABL acts on $28 million timber mill sale
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Aug 21 2017
Is your firm on the right track for gig economy gains?
Promoted by Crowd & Co. The way we do business, where we work, how we engage with workers, ev...
Scales of Justice, Victorian County Court, retiring judges
Aug 21 2017
Replacements named for retired Vic judges
Two new judicial officers have been appointed in the Victorian County Court, following the retire...
Aug 21 2017
LCA applauds proposed Modern Slavery Act
The Law Council of Australia has welcomed new recommendations for the development of a Modern Slaver...
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...