In today’s AGE and SMH, restructuring and insolvency partner Genevieve Sexton is highlighted for her role in the successful corporate revival of the Amy Gillett Foundation, a charity named in memory of Australian Olympian Amy Gillett and dedicated to reducing cyclist fatalities on Australian roads.
The foundation faced closure earlier this year when it unexpectedly went into liquidation, before a well-connected group of former board members, business leaders and cycling advocates launched a rescue mission. KPMG were appointed as administrators and a deed of company arrangement was executed with the support of creditors.
Genevieve and the ABL team worked closely with KPMG and other professionals pro bono to ensure that the charity’s staff were paid and had sufficient working capital to continue operations. “There was a series of complicated steps that needed to be taken to convince the liquidators, the administrators and, finally, the Federal Court, that the foundation could resume as a going concern,” Genevieve explained to the AGE/SMH.
Genevieve also explains that “unless this work was done pro bono, the cost of the salvage operation would have been prohibitive.”
As the article notes, the Amy Gillett Foundation is now safely under the control of a newly appointed board and continuing operations to improve the safety of cyclists on Australian roads, advocating for legislative changes, and promoting mutual respect between cyclists and motorists.
Genevieve previously chaired the Australian Government's Safe Harbour Review Panel, which reviewed the insolvent safe harbour that protects company directors from personal liability for insolvent trading if the company is genuinely attempting to restructure.
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