find the latest legal job
Monash University Director Workplace Relations
Category: Industrial Relations and Employment Law | Location: All Melbourne VIC
· Exceptional senior leadership role
View details
Personal Injury Lawyer - Melbourne Eastern Suburbs - 2-5 years PAE
Category: Personal Injury Law | Location: Lilydale VIC 3140
· Fulfilling role as part of a small team in a positive workplace
View details
Legal Counsel
Category: Banking and Finance Law | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· In-house opportunity · Be part of our engine for success in a high growth business
View details
Trainer/Assessor Diploma of Legal Services
Category: Other | Location: Liverpool NSW 2170
· 3 Days Per Week · 9am - 4pm
View details
Corporate and Commercial Partner
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Adelaide CBD · Join a leading Adelaide commercial law firm
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.

Promoted content
Recommended by Spike Native Network