Director
Jacob McCloskey
T:
+61 2 8221 8433
M:
Sydney
His strong technical skills and commerciality result in relevant advice and well-engineered engagements, maximising value whilst navigating complex and uncertain situations.
Jacob has over 14 years’ experience working on a diverse range of restructuring and insolvency engagements, including contentious liquidations and trading businesses, either for sale, to facilitate a refinance or whilst formal restructuring is achieved.
He also advises boards, creditors and lenders on both debtor and creditor sides of distressed and insolvent businesses in informal engagements.
Prior to Cor Cordis, Jacob spent five years working in a mid-tier firm in London where he worked on engagements with exposure to cross-border claims and assets.
Formal restructure of an accommodation company. This involved trading the management rights operator of a residential and holiday letting resort for over a year. Managing the competing interests of various stakeholders including residents, owners of holiday accommodation, the body corporate and the incoming operator whilst a renegotiation of the management rights and sale as a going concern was undertaken.
Trading a structural steel manufacturer for four months under administration whilst it refinanced the company’s secured debts and developed a proposal to unsecured creditors. The business exited administration through a DOCA and subsequent creditors trust.
Advising a group of general practices facing guarantee claims in relation to the collapse of a related business, Jacob negotiated with the creditor to compromise and stage debt repayments, avoiding enforcement of the guarantees and providing the creditor with an independent review of the capacity of the practices to meet repayments.
Various engagements for bank, non-bank, specialist and private lenders.
Jacob acted as an advisor to a family office to assist with their exposure as landlord to a hospitality chain undergoing restructuring, negotiating to decrease temporary rent reductions proposed on retained sites and increase recoveries from arrears, dilapidations and surrender fees on exited sites.
