A major restructuring has been proposed for the heavily indebted West Australian wine company, Hotham Wines, by a former executive director of Evans & Tate, Mike Calneggia. A A$5.4m re-financing has been unveiled including a A$640,000 cash injection from Calneggia, for a 19.9% stake in the company, and a rights issue which will raise a further A$4.8m.