Simpsons advises on Debt Restructuring by ASX listed companies

Simpsons Solicitors recently advised ASX listed junior resources explorer, Bligh Resources Limited on the restructure of the debt and royalty arrangements relating to its Western Australian gold tenements. The restructure involved the discharge of secured lenders to the holding JV entity and the transfer of one of the tenements to the original vendor. The consideration for the releases involved cash, equity and convertible debt issued by Bligh Resources Limited.In a separate matter, Simpsons Solicitors recently advised ASX listed engineering group, The Environmental Group Limited on all aspects of the refinancing of $1M of its secured loans. The restructure involved consideration of the related party transactions and termination benefit provisions of the Corporations Act together with obtaining shareholder approval under ASX Listing Rule 10.1 for the collateral granted as security to the incoming lender.