Bio

David is based in Appleby’s Hong Kong office and is head of Asia Private Equity, M&A and Corporate Restructuring and global co-head of SPACs.

Recognised as a leading lawyer in each of his practice areas, David has been named Cayman Islands “Merger and Acquisitions Lawyer of the Year” for the last two years running, having completed transactions with an aggregate value in excess of USD65 billion during this time. He was also named Cayman Islands “Corporate Finance Lawyer of the Year” and “Most Trusted Corporate Restructuring Specialist” in 2019 and was named to Asia Legal Business’ “40 Under 40” in 2020.

David’s corporate clients include Ascendent Capital Partners, Benchmark Asia, Celadon Partners, Goldman Sachs, MUFG, SoftBank Group Corp. and SoftBank Vision Fund.

On the restructuring side David has led on many of the largest Cayman restructurings, particularly in the offshore oil and gas sector. Recent deals include acting for Pacific Drilling on its restructuring by US Chapter 11 and Cayman process, acting for an ad hoc group of creditors of Noble in relation to Noble’s restructuring and acting for an ad hoc group of creditors on the restructuring of Valaris.

David is qualified in England & Wales, Cayman Islands and British Virgin Islands. He graduated from Cambridge University and trained at Freshfields Bruckhaus Deringer in London before practicing at Kirkland & Ellis and Sullivan & Cromwell in London.

AWARDS AND ACCOLADES

“Mergers and Acquisitions Lawyer of the Year – Cayman Islands” – Lawyer Monthly 2020

“ALB 40 Under 40” – Asian Legal Business 2020

Mergers and Acquisitions Lawyer of the Year – Cayman Islands” – Lawyer Monthly 2019

Most Trusted Corporate Restructuring Specialist – Cayman Islands” – CV Magazine 2019

Corporate Finance Lawyer of the Year – Cayman Islands” – Finance Monthly 2019

M&A Rising Star” – IFLR 1000 2017, 2018, 2019, 2020

Restructuring Rising Star” – IFLR 1000 2017, 2018, 2019, 2020

Deal of the Year” – China Business Law Journal 2018 for work on Sensetime’s Series C/C+ financing

REPRESENTATIVE DEALS:

PE / M&A

  • MUFG in connection with its USD706 million investment in Grab Holdings Inc.
  • Ascendent Capital Partners on its USD150 million investment in Best Assistant Education Online Limited
  • Celadon Partners on multiple M&A and financing transactions
  • Cornershop in connection with a USD500 million issuance and tender offer;
  • SoftBank Vision Fund in connection with an investment totaling USD1.5 billion in Chehaoduo, a leading Chinese customer-to-customer auto retail services company;
  • A Japanese investor in connection with a USD700 million investment in a tech company;
  • Itochu Corporation in connection with the structuring and establishment of a new investment fund with affiliates of CITIC Group Corporation;
  • China Automation Group on its privatization by way of a Cayman scheme of arrangement for HKD391,998,649.50 (about USD50.06 million);
  • A lead investor in connection with its investment in SenseTime’s Series C and Series C+ issuance;
  • China UnionPay in connection with its bid for Chinese tech assets; and
  • Elliott Management on the merger between Ocean Rid UDW Inc. and Transocean.

Restructuring

Creditor Representations

  • The Ad Hoc Group of Creditors of Ocean Rig UDW. Inc. on a financial restructuring by way of multiple Cayman Schemes of Arrangement to reduce the debt load by USD3.2 billion;
  • The Official Committee of Unsecured Creditors on the Chapter 11 of Scottish Re;
  • The Ad Hoc Group of Creditors on the first restructuring of Hercules Offshore Inc. by way of US Chapter 11;
  • The Ad Hoc Group of Towergate Insurance Group senior secured creditors in connection with Towergate’s successful restructuring by way of Scheme of Arrangement; and
  • Senior high yield noteholders on the EUR 1.2 billion restructuring of A.T.U Auto-Teile-Unger GmbH through an administration.

Debtor Representations

  • Pacific Drilling on its restructuring by way of US Chapter 11;
  • CHC Group Limited on its restructuring by way of US Chapter 11 and parallel Cayman process;
  • Whalsay Energy Limited on its debt restructuring and subsequent listing on the Cayman Stock Exchange;
  • Zim Integrated Shipping Services on the restructuring of its financing and capital markets financings, which was the largest restructuring in Israeli history; and
  • Eksportfinans ASA on its USD 23 billion contingency plan and successfully resisting attempts by debt funds to trigger a global restructuring of the group.

Trustee Representations

  • Chapter 7 Trustee in connection with Scottish Re; and
  • Nordic Trustee AS in connection with multiple bond restructurings involving assets in Europe and Asia.

Education:

  • University of Cambridge (England)

Updates

16 Feb 2021

Appleby acts as Cayman Islands counsel to Noble Holding Corporation Plc’s restructuring by way of Chapter 11

Appleby acts as Cayman Islands counsel to Noble Holding Corporation Plc’s restructuring by way of ...

15 Jan 2021 | News

Appleby acts as Cayman counsel on Silver Crest Acquisition Corporation’s upsized US$300M SPAC IPO

Appleby acted as Cayman counsel to Silver Crest Acquisition Corporation on its upsized US$300,000,00...

21 Dec 2020 | News

Hong Kong Partner David Bulley named as “Merger and Acquisitions Lawyer of the Year” at the Lawyer Monthly Legal Awards 2020

Hong Kong Partner David Bulley named as “Merger and Acquisitions Lawyer of the Year” at the Lawy...

15 Oct 2020 | News

Asian Legal Business names Hong Kong Partner David Bulley in "Top 40 under 40" list

David Bulley has been named in Asian Legal Business’ “Top 40 Under 40” list.

11 Jun 2020 | News

Appleby strengthens and expands corporate team

Leading offshore law firm Appleby has announced the addition of two team members and a senior promot...

3 Mar 2020 | Deals

Appleby advises Mitsubishi UFJ Financial Group on its investment in Grab

Appleby acted as Cayman Islands counsel to MUFG on its USD706 million equity investment in ride-hail...

Contributors: Dean Bennett
18 Nov 2019 | News

Appleby announce number of high profile appointments to further strengthen its Asian offering

Corporate Partner Judy Lee, recognised as a top transactional lawyer in the Capital Markets sector, ...

Contributors: Judy Lee, David Bulley
15 Nov 2019 | Deals

Appleby advises China Automation Group on HKD 391,998,649 Scheme of Arrangement

Appleby represented China Automation Group (“CAG”) on a Cayman scheme of arrangement (“Scheme...

Publications

Related People

Melissa Chiu

Counsel: Hong Kong, Shanghai

T +852 2905 5769
E Email Melissa

Calvin Lee

Associate: Hong Kong, Shanghai

T +852 2905 5713
E Email Calvin

Kaile Yang

Legal Manager: Hong Kong

T +852 2905 5711
E Email Kaile

Connie Wu

Legal Executive: Hong Kong

T +852 2905 5768
E Email Connie

Billy Li

Legal Executive: Hong Kong, Shanghai

T +852 2905 5729
E Email Billy

Jonathan Lee

Legal Manager: Hong Kong, Shanghai

T +852 2905 5712
E Email Jonathan

Minnie Choi

Legal Manager: Hong Kong, Shanghai

T +852 2905 5771
E Email Minnie

Cissy Chan

Legal Executive: Hong Kong, Shanghai

T +852 2905 5754
E Email Cissy

Karina Li

Associate: Hong Kong

T +852 2905 5716
E Email Karina

Charlotte Yeung

Counsel: Hong Kong

T +852 2905 5722
E Email Charlotte