Financial Services Team Experience
Our team has worked cross-border on many complex financial services situations.
Advised a Bahrain based international bank in Chapter 11 in connection with its short-term liquidity needs. Also provided advice on the review and valuation of its investment portfolio which was undertaken to support negotiations with its creditors, potential new money lenders and other stakeholders.
Joint liquidators of a Bermuda hedge fund managing in excess of US$850 million which entered liquidation due to a major fraud.
Advised the Central Bank of Cyprus in relation to the bail-in of its two largest systemic banks.
Led the stabilisation and complex turnaround of a bailed-in systemic bank, reducing NPLs from €18bn to €1.5bn while delivering a recapitalisation programme and numerous other transformation initiatives.
Review of Asset Quality and adequacy of CET1 based on a holistic review of accounting policies, data integrity, credit files, collective provisioning and Level 3 assets for 38 banks across the European Union.
Rapid review and options assessment of a distressed West African lender on behalf of a central bank, including review and assessment of NPL recovery plans and loan portfolio cash realisations, assessment of capital shortfall and contingency plans, including creation of Bridge Bank and receivership of the residual.
Advised the FME on the valuation framework to be adopted for the transfer of assets and liabilities between the failed Icelandic banks and the newly created recapitalised banks.
Advised a syndicate of foreign lenders to Exista (a holding company that owned a significant stake in Kaupthing, Bakkavor and several large Icelandic businesses) in relation to initial stabilisation and then recovery strategy over a two year period.
Supported the Special Liquidators of the Irish Bank Resolution Corporation (IBRC) in a £7 billion loan portfolio sale and subsequent wind-down of UK operations. IBRC was formed in the wake of the Irish banking crisis by a Court mandated merger of two failed lenders, Anglo Irish Bank and Irish Nationwide Building Society.
Court appointed receivers over assets owned by Mr Ablyazov - the former Chairman of JSC BTA Bank was accused of embezzling billions of dollars from his former employer. We successfully gained recognition and pursued assets across 15 jurisdictions, recovering and realising significant assets.
Debtor and creditor side advisory for Russian banks (Rossisky, Unexim and SBS Agro Banks) following the rouble collapse in 1998. Work included reviewing, executing and monitoring asset work-out strategies and portfolio run-off cash flows and agreeing compromise deals between the bank and international creditors (de-facto bail-in).
Special Administrators of Dunfermline Building Society and MF Global UK, the two major UK financial services insolvencies post the Global Financial Crisis.
Administrator of several non-bank lenders including Elevate Credit, Curo, Welcome Financial Services (Cattles).
We help Financial Institutions successfully navigate periods of stress and destress by working with them to scale the challenge, explore their options and then design, communicate and execute optimum solutions which are focused on rebuilding capital, performance and shareholder returns.