Bio
David is head of Appleby Cayman’s corporate restructuring, distressed debt and special situations team and a leading member of the Private Equity, Venture Capital and M&A team with a particular focus on transactions involving companies and assets in Asia.
In the PE / M&A space, David represents some of the leading US and Asian based sponsors and investors including Itochu Corporation, SoftBank Group Corp., Lion Point Capital, SoftBank Vision Fund, Celadon Partners and Elliott Management.
In the restructuring space, David has a leading creditor and debtor representation practice, having 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
“Restructuring Rising Star” – IFLR 1000 2017, 2018
“Deal of the Year” – China Business Law Journal 2018 for work on Sensetime’s Series C/C+ financing
REPRESENTATIVE DEALS:
PE / M&A
- 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).
- Itochu Corporation in connection with the structuring and establishment of a new investment fund with affiliates of CITIC Group Corporation.
- 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;
- China UnionPay in connection with its bid for Chinese tech assets.
- A lead investor in connection with its investment in SenseTime’s Series C and Series C+ issuance.
- Accel Ventures in a Series B issuance.
- A lead investor in the Series B issuance by Loft Holdings Inc.
- 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 USD 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.
- 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.
- 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.
- Nordic Trustee AS in connection with multiple bond restructurings involving assets in Europe and Asia.
Education:
University of Cambridge (England)
