Bio

David leads the Asia focused Private Equity, Venture Capital and M&A team in the Cayman Islands and is also co-head of Appleby Cayman’s corporate restructuring, distressed debt and special situations team.

In the last twelve months alone David closed PE / VC / M&A transactions with an aggregate value in excess of $35 billion and represented leading US and Asian based sponsors and investors including MUFG, Itochu Corporation, SoftBank Group Corp., Celadon Partners, SoftBank Vision Fund and Ascendent Capital Partners.

David also has a leading creditor and debtor restructuring practice and has been instructed on many of the largest restructuring transactions during his time in Cayman, including as counsel to the ad hoc group of Creditors in Ocean Rig, the largest ever Cayman restructuring by way of scheme of arrangement, and for the Debtor in the restructuring of CHC Group Ltd.

David is a graduate of the University of Cambridge. He trained at Freshfields Bruckhaus Deringer before practising in London at Kirkland & Ellis and Sullivan & Cromwell.

AWARDS AND ACCOLADES

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

  • Cornershop in connection with a US$500 million issuance and tender offer;
  • SoftBank Vision Fund in connection with an investment totaling US$1.5 billion in Chehaoduo, a leading Chinese customer-to-customer auto retail services company;
  • A Japanese investor in connection with a US$700 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 HK$391,998,649.50 (about US$50.06 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 US$3.2bn;
  • 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 1.2bn 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 23bn 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

13 Nov 2019 | Deals

Appleby advises Ascendent Capital Partners on education-related investment

Appleby acted as Cayman Islands counsel to Ascendent Capital Partners (ACP) on its USD150 million in...

Contributors: Rebecca Jack
25 Feb 2019 | News

Appleby advises on several of China Business Law Journal’s ‘Deal of the Year’

The leading offshore law firm advised on two award winning transactions.

Contributors: David Bulley
27 Jun 2018 | News

Appleby ranked 20th in top 30 Global Restructuring firms

Appleby has been recognised as one of the 30 leading law firms in the world for global restructuring...

21 Jun 2018 | News

Appleby advises on two award winning restructuring deals

Appleby Cayman provided lead advice on two award winning deals, with the restructuring of Ocean Rig ...

Contributors: David Bulley, Jeremy Snead
26 Jun 2017 | News

Appleby wins Global Restructuring Review award

At the recent Global Restructuring Review’s (GRR) Inaugural Charity Awards Gala in London, it was ...

Publications

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