About Chris Prestwich
Chris practices in commercial litigation, restructuring and insolvency and regulatory investigations.
He has acted for clients in relation to commercial disputes across a range of industries, including banking, infrastructure, private equity, telecommunications, mining and mining services, construction and media. Chris's recent litigation experience includes:
- Epic Games – in two Federal Court proceedings against Apple and Google alleging misuse of market power and other anti-competitive conduct in respect of mobile app distribution and in-app payment systems. This is the first big tech antitrust litigation in Australia and involved complex expert evidence from a range of disciplines including technology, security, payments, antitrust economics, econometrics, behavioural economics and forensic accounting. It involved a 16-week trial and included two related class actions.
- RAMS Financial Group – defending a class action brought by former RAMS franchisees alleging wrongful termination of their franchise agreements.
- Westpac – defending a class action brought against Westpac in relation to the sale of consumer credit insurance and allegations of misleading or deceptive conduct and unconscionable conduct.
- Diversa Trustees – acting for Diversa in its successful defence of proceedings brought by ASIC alleging breach a trustee of the efficiently, honestly and fairly provisions arising out of a promoter's superannuation consolidation calls.
- Vodafone Hutchison Australia – acting for VHA in Federal Court proceedings against the ACCC seeking orders approving a proposed merger with TPG Telecom.
- Westpac – defending a test case brought by ASIC at first instance and on appeal in relation to whether personal advice had been provided on outbound superannuation consolidation calls.
- Consolidated Builders – acting for the managing director in defending shareholder oppression proceedings.
Chris advises financial institutions and borrowers in relation to distressed situations, including insolvency litigation, restructures and formal insolvency processes (including liquidations, schemes of arrangement, receiverships, administrations and deeds of company arrangement). His recent experience includes:
- Forum Finance – acting for the liquidators of the Forum Finance group, which had perpetrated a $400m fraud upon its financiers, including various recovery actions.
- Metigy – acting for the major investors of Metigy (a start-up which achieved a significant valuation) in connection with its fraud, voluntary administration and liquidation.
- One Funds Management Limited – acting for OFML in relation to a proposed creditors' scheme of arrangement arising out of the collapse of the iProsperity group.
- Pindan Group – acting for the shareholder (Oxley Holdings) in relation to a successful deed of company arrangement for entities in the Pindan Group.
- Axsesstoday Limited– advising Cerberus Capital in relation to the acquisition and recapitalisation of Axsesstoday (an SME lender) through a deed of company arrangement.
- Wiggins Island Coal Expoert Terminal – advising the lending syndicate in relation to the restructure of a $3.5bn secured debt facility.
- Quintis Limited – acting for the bondholders and the receivers and managers of the Quintis group, a sandalwood plantation owner and manager, including in relation to the recapitalisation of the business through a deed of company arrangement and a creditors' scheme.
- Channel Ten – acting for the Commonwealth Bank of Australia in relation to its exposure to the Channel Ten group, including the appointment of receivers and managers.
- Callide C – advising Ferrier Hodgson as receivers and managers of the interest held by the Intergen Group in the Callide C power station.
- Reliance Rail – acting for Citibank N.A. as super senior hedge provider to a public private partnership for the construction of rolling stock.
- BrisConnections – advising the syndicate of lenders, and subsequently the receivers and managers of the operator of the Airport Link M7 toll road in Brisbane after it went into external administration with debts in excess of $3 billion.
Chris also advises financial institutions in relation to investigations by a range of regulators including ASIC and the ACCC.
Chris is the author of the Australian chapter of the Asset Tracing and Recovery Review.