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Nicola Nolan

Legal Director
About

Nicola has gathered over 17 years of experience in the insolvency field and her practice includes all aspects of liquidations, business rescue proceedings and distressed restructuring.

Nicola has been involved in numerous matters involving voluntary and compulsory liquidations, and has experience in advising both the financially distressed company and its board of directors, as well as the company’s creditors. Nicola has been involved in litigation arising from liquidations, such as recovering voidable dispositions made by the company prior to liquidation, claims against directors for reckless trading, and recovering against sureties and guarantors of the liquidated entity’s indebtedness. She has also represented liquidators and has assisted with liquidation related litigation, recovery of debts, enquiries in terms of the Companies Act, and the realization of the company in liquidation’s assets and business.

Nicola has experience in business rescue proceedings and has advised creditors in respect of the business rescue process, including preparing claims and advising on business rescue plans and the implementation thereof. Nicola has also acted for business rescue practitioners and has assisted in preparing business rescue plans, dealing with litigation arising out of the business rescue proceedings, and the realization of the company in business rescue’s assets and business.

Nicola has been involved in a number of informal restructuring matters where financially distressed companies and their creditors have consensually restructured the company’s debts and business. She has also been involved in compromises and schemes of arrangement between companies and their creditors.

Nicola’s practice also includes debt recoveries and she has acted for financial institutions for many years in pursuing and recovering outstanding exposures under finance agreements. She has also instituted many applications to perfect general notarial bonds over movable assets on behalf of a number of banks and financial institutions.

Areas of FocusFinanceRestructuring
Professional QualificationsAttorney of the High Court of South Africa

EXPERIENCE

  • Acting for the liquidators in the liquidation of the Africa Heritage Investments group of companies, which included, inter alia, enquiries in terms of section 417, issuing summons to set aside voidable dispositions and instituting summons for reckless trading.
  • Acting for an international bank, as creditor, in the business rescue proceedings of a chrome smelter operation.
  • Acting for the liquidators of Cons Murch Mine Pty Limited in the liquidation of a gold and antimony mine and assisted in all aspects of the liquidation proceedings, including the sale of the mine to a third party.
  • Acting for the liquidators of Blyvooruitzicht Gold Mining Company Pty Limited which has involved numerous court applications (both instituted and defended), sales of mining assets, and disputes relating to the village on the mine property.
  • Acting for the consortium of South African banks in the business rescue proceedings of Optimum Coal Mine and its subsidiaries in 2016.
  • Acting for Investec Bank Limited in the scheme of arrangement between Mayfair Speculators Pty Limited and Mayfair Holdings Pty Limited with its creditors.
  • Acting for the business rescue practitioner of Ellerine Holdings Limited.
  • Assisting in the financial restructuring of Edcon Limited.
Education
  • University of Stellenbosch, Bachelor of Arts (BA) (Law)
  • University of Stellenbosch, Bachelor of Laws (LLB)
  • University of Johannesburg, Diploma in Insolvency Law and Practice

Memberships And Affiliations

  • Turnaround Management Association

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