David advises corporates, financiers, regulated financial institutions and prospective investors on all aspects of restructuring and insolvency. He has a particular specialism in the insolvency and restructuring of insurance companies and other regulated financial institutions.
David joined Stevens & Bolton as a partner in the restructuring and insolvency practice (which he co-heads with Tim Carter) in 2016, after spending 30 years at a Magic Circle firm (22 years as a partner) where he was co-head of the restructuring and insolvency practice.
Recent highlights include:
- Acting for the provisional liquidators of the UK branch of an international insurer, including in their capacity as scheme administrators under a Companies Act 2006 scheme of arrangement, advising on scheme issues, creditors committee issues and the operation of the claims protocol and of the global liquidation order which operate to regulate the respective roles of the insolvency officeholders
- Advising an insurer on the drafting and implementation of a scheme of arrangement with its reinsurance creditors under Part 26 of the Companies Act 2006
- Advising the insolvency officeholders appointed to a UK peer-to-peer lending platform on dealing with creditor priority issues (trust vs non-trust), collection of its secured loan book and investigating the conduct of former directors
- Advising several casual dining sector businesses and their directors on implementation of company voluntary arrangements, directors’ duties, other restructuring and wind-down mechanisms and relations with contractual counterparties
- Advising debtors, investors and insolvency officeholders on a number of pre-packaged administration sales of businesses (including advising on directors’ and officeholders’ duties in that context)
- Advising debtors and financiers on corporate restructurings in the mining, hotel and leisure and agri-business sectors in Africa
David is a member of the Insolvency Lawyers Association and of INSOL. He is also vice-chair of the Creditors Rights Sub-Committee of the International Bar Association (Insolvency Section).