BantonAmanda

Amanda K. Banton

Partner

Amanda is a partner in and leads the Restructuring & Insolvency practice group in the Asia-Pacific region. 

She has one of the largest Restructuring & Insolvency practices in Australia, including 12 professional staff. Amanda’s practice encompasses a broad range of corporate and commercial litigation matters with a particular emphasis on matters relating to the corporations legislation, insolvency, state and federal trade practices legislation, negligence and contractual disputes.

Amanda has been involved with a number of high-profile insolvencies such as the administration and liquidation of Lehman Brothers Australia Limited. Her significant experience also includes leading numerous multimillion dollar disputes in the Federal and High Court of Australia including against a global investment bank and prominent rating agency (the only litigation in the world which has secured judgment against a global credit rating agency).

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ŸLocal Government Financial Services

  • Standard & Poors and ABN Amro (as mentioned in The Legal 500 Asia Pacific) – leading a successful, multimillion dollar Federal Court of Australia class action arising out of breach of contract, contravention of statutory obligations, negligence and breaches of fiduciary duties against local financial service provider, global investment bank and global credit rating agency (circa AU$20 million). The proceedings concerned investment losses sustained by the local councils as a result of the default of a complex structured financial product. (Bathurst Regional Council v Local Government Financial Services Pty Ltd (No.5) [2012] FCA 1200).
  • Lehman Brothers Australia (as mentioned in The Legal 500 Asia Pacific)
    • Leading the high profile, multimillion dollar class-action against Lehman Brothers Australia Limited on behalf of various local government councils and other corporate clients (circa AU$200 million). (VVingecarribee Shire Council v Lehman Brothers Australia (in liq) [2012] FCA 1028).
    • Leading a successful High Court of Australia action in relation to a deed of company arrangement purporting to release third party related companies to Lehman Brother Australia Limited (Lehman Bros Holdings Inc & Lehman Bros Asia Holdings Ltd (in liq) v City of Swan (2010) 240 CLR 509; [2010] HCA 11).
    • Advising class of creditors in the administration and liquidation of Lehman Brothers Australia Limited.
  • Balmain Trilogy – acting for the responsible entity of a retail mortgage fund in defending claims and prosecuting cross claims arising out of breach of contract and mingling of trust assets.
  • Chameleon Mining NL – leading a successful Federal Court of Australia action by Chameleon Mining NL against various former directors of Chameleon and Murchison Metals Limited. The claim related to breach of directors' duties – whether company officers were de facto directors in relation to five extraordinary transactions and whether those transactions were in breach of directors' duties. The claim also related to whether Murchison was knowingly concerned in breaches and whether Murchison was liable for breaches as accessory under the first and second limbs of Barnes v Addy (Chameleon Mining NL v Murchison Metals Limited [2010] FCA 1129).
  • International Litigation Funding Partners Pte Ltd – acted for a litigation funder in a Federal Court challenge by Brookfield Multiplex Limited in relation to the legality of litigation funding arrangements in a class action commenced against Brookfield Multiplex Limited.
  • Major bank – acting for the factoring division in respect of a number of misleading and deceptive conduct claims which it brought against debtors and guarantee claims.
  • Shareholders of a gold mining company – acting for and advising in respect of a high profile application to the Court to appoint a special purpose administrator to a large gold mining company to investigate the actions of the current deed administrator and in respect of causes of action against the administrators and a major bank (funded by litigation funder).
  • Insolvency practitioners – advising and acting for various insolvency practitioners in relation to voluntary administrations, deeds of company arrangements, liquidations, bankruptcies and receiverships, including in relation to unfair preference claims and proceedings, the examinations of company directors and other relevant persons, contentious proofs of debt, employee entitlements, competing priority claims and the drafting of deeds of company arrangement.

Commercial/Corporate Dispute Resolution

  • Acting for 12 local government councils which successfully brought claims against Standard and Poor’s, ABN Amro Bank NV and Local Government Financial Services in relation to credit ratings issued to a complex structured financial product acquired by the councils. Those proceedings are first time Standard and Poor’s has ever been held liable for its credit ratings anywhere in the world. Amanda also acted for the Councils in successfully defending the respondents’ appeal in the Full Court of the Federal Court of Australia. (see Bathurst Regional Council v Local Government Financial Services Pty Ltd (No.5) [2012] FCA 1200 and ABN AMRO Bank NV v Bathurst Regional Council [2014] FCAFC 65).
  • Leading various actions against auditors for breaches of their common law and statutory duties, breach of contract and negligence relating to their preparation of the subject audit. Actions have included actions against auditors of high profile retail managed investment schemes whose assets were principally secured by interest in commercial, residential and retirement properties, a high profile building company, Beechwood Homes and a junior mining company.
  • Acting for members of an unregistered fund hundreds of millions of funds under management in proceedings brought to change the trustee of the fund. Successfully secured the appointment of Korda Mentha and presently act for trustee (to include investigating the reasons for the demise of the fund).
  • Leading a successful Federal Court action by Chameleon Mining NL against various former directors of Chameleon and Murchison Metals Limited for breach of directors' duties regarding certain transactions and knowing involvement in those breaches (Chameleon Mining NL v Murchison Metals Limited [2010] FCA 1129).
  • Acting for an array of factoring companies in debt recovery and enforcement matters.

Class Actions

  • Leading the high profile, multimillion dollar class-action against Lehman Brothers Australia Limited on behalf of various local government councils and other corporate clients (circa AU$200 million). (VVingecarribee Shire Council v Lehman Brothers Australia (in liq)) [2012] FCA 1028).
  • Acting for private investors, local government Council and charities in proceedings against the Commonwealth Bank of Australia in relation to claims regarding financial advice and disclosure obligations and in relation to Court approval of a global settlement for investors.
  • Acting in a class action brought by shareholders against directors and auditors of a publicly listed company for alleged misrepresentations in, and audits of, the financial statements of the company.

Insolvency 

  • Leading a successful High Court of Australia action in relation to a deed of company arrangement purporting to release third party related companies to Lehman Brother Australia Limited (Lehman Bros Holdings Inc & Lehman Bros Asia Holdings Ltd (in liq) v City of Swan (2010) 240 CLR 509; [2010] HCA 11).
  • Advising class of creditors in the administration and liquidation of Lehman Brothers Australia Limited.
  • Acting for a number of responsible entities and custodians of registered managed investment schemes, including Balmain Trilogy in respect of the work out of schemes, including the facilitating the appointment of receivers, advising in relation to matters ancillary to a work out and bringing proceedings against property developer guarantors.
  • Acting for shareholders of a large gold mining company in respect of a high profile application to appoint a special purpose administrator to investigate the actions of the deed administrator and in respect of causes of action against the administrators and a major bank.
  • Acting for and advised various insolvency practitioners in relation to voluntary administrations, deeds of company arrangements, liquidations, bankruptcies and receiverships, including in relation to unfair preference claims and proceedings, the examinations of company directors and other relevant persons, contentious proofs of debt, employee entitlements, competing priority claims and the drafting of deeds of company arrangement.

Education

  • The University of Adelaide, B.Comm., LL.B., 2002
  • College of Law, Graduate Diploma, Legal Practice

Admissions

  • High Court of Australia
  • Supreme Court of New South Wales
  • Queensland

Memberships and Affiliations

  • Law Society of New South Wales
  • Insolvency Practitioners Association of Australia
  • INSOL International (international Association of Restructuring, Insolvency & Bankruptcy Professionals)
  • WOB (Women on Boards)
  • Recommended in The Legal 500 Asia Pacific 2017 in Restructuring and Insolvency, Australia and Dispute Resolution, Australia.
  • Recommended as an elite “Leading Lawyer” in The Legal 500 Asia Pacific 2017 for Dispute Resolution – Class actions.
  • Winner of Lawyers Weekly Australia Partner of the Year Awards 2016, Insolvency category.
  • Recommended in Chambers Global 2016 Edition for Dispute Resolution in Australia.
  • Recommended as a Leading Individual in The Legal 500 Asia Pacific 2016 for Dispute Resolution (Australia).
  • Ranked in Australasian Lawyer’s Hot 40 private practice lawyers, 2014.
  • Awarded Australian "Local Dispute Star" for Restructuring and Insolvency in Legal Media Group Euromoney's 2013 Benchmark, Asia Pacific.
  • Recommended by The Legal 500 Asia Pacific in both Dispute Resolution and Restructuring and Insolvency categories.

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  • Contributor, “Lawyers warn super funds to expect class actions”, Investment Magazine, 24 February 2017.
  • “Lehman Brothers Decision – the Benefits of Class Actions for Liquidators in Adjudicating Proofs of Debt", Amanda Banton and Alex Johnson, Insolvency Law Bulletin, Vol 13 No 4, 2012. 
  • “Implications of the Lehmans Australia Decision on the Financial Services Industry”, Amanda Banton and Alex Johnson, Financial Services Newsletter, Vol 11 No 6, 2012.
  • “Holding Ratings Agencies to Account: the Federal Court's Landmark Decision in Bathurst Regional Council v Local Government Financial Services”, Amanda Banton and Denee Theodorou, Financial Services Newsletter, Vol 11 No 7, 2013.