Lavan is pleased to have advised Tassal, Australia’s largest vertically integrated seafood grower, in its acquisition and restructure of MPA Fish Farms Pty Ltd and MPA Marketing Pty Ltd (“MPA”), which operate Australia’s only ocean-based barramundi farm at Cone Bay, Western Australia through a deed of company arrangement.
Lavan’s deal team was led by restructuring partners Joe Abberton and Leith Ayres, finance partner Ben Fong, and property partner Tamara Heng. The deal team was supported by Amanda Soh, Michael Pendlebury, Aleisha Anderson and Piper Higgins.
The Lavan team was assisted by deals advisor Kordamentha and their team ably led by Richard Tucker, Craig Shepard and Jared Palandri.
Lavan would like to thank the administrator team at McGrathNicol led by Rob Kirman, Rob Brauer and Mark Knight and their legal advisors at Clayton Utz, led by special counsel Rebecca Hanrahan and partner Alistair Fleming for their hard work and assistance in achieving an expedited result that delivers a superior outcome for creditors, secures more than 50 local jobs in the Kimberley region, and provides a future for sustainably grown barramundi in WA.
The restructure and transaction, necessary to save the fish-stock, would not have been possible without the support of secured creditor National Australia Bank (Vic Yaschenko) and its legal advisors NRF (Jeff Black) and feed supplied Skretting (Joe Tidey).
Given Tassal’s successful turnaround of Australia’s salmon and prawn industries, Lavan is excited to be part of Tassal’s turnaround of the barramundi industry in Western Australia.
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