DavidHarding

Partner

(T) 44.20.7039.5198

David Harding's practice focuses on cross-border corporate restructurings, distressed acquisitions, and formal insolvency proceedings. He has particular experience in restructurings involving the issuance of equity, including debt for equity swaps, emergency rights' issues, and the structuring of acquisitions by NewCo entities. David acts for a diverse range of clients, including investment banks and hedge funds holding distressed debt, corporate debtors (or their directors and shareholders), and insolvency office holders in successfully transitioning assets, management, and operations.

David has recently advised AlbaCore Capital on its co-investment in a €500m platform to acquire NPL portfolios across Europe (alongside Lindorff and Carval); BHS International on the acquisition of the digital and international business of UK retailer, BHS; the liquidators of Value Discovery Partners in the context of a restructuring and wind-down of a US$1 billion fund; certain funds on the acquisition of various property portfolios (including the acquisition of distressed debt secured by Q Hotels from IBRC); the restructuring of certain corporate credits in the Lundy portfolio; a leading investment bank on the restructuring and acquisition of the Opal student housing portfolio; creditors in the insolvencies of Clinton Cards and Birthdays Limited, Connaught, and Ennstone; and on numerous restructuring matters and acquisitions for funds such as AlbaCore Capital, Aurelius Group, Canyon Capital Advisors, Cross Ocean Partners, ESO Capital, and the Lone Star Funds.

Experience

  • Credit fund restructures UK property developerJones Day advised a credit fund in connection with the restructuring of its investments in a significant UK property development and investment company.
  • Vision Capital restructures UK retailer, BrightHouseJones Day is advising Vision Capital in connection with the £220 million financial restructuring of its subsidiary, BrightHouse (a rent-to-own retailer operating in the United Kingdom).
  • Loxo Oncology acquires drug development program from administrators of RedXJones Day advised biopharmaceutical company, Loxo Oncology, Inc., in connection with its $40 million acquisition of a drug development program aimed at treating leukemia from the administrators of RedX Pharma Plc.
  • American Apparel UK subsidiaries enter administrationJones Day is advising the joint administrators of the retail and wholesale clothing distributor American Apparel (UK) Limited and American Apparel (Carnaby) Limited in respect of the entities' entry into administration and subsequent ongoing trading of the business.
  • AlbaCore Capital co-invests in platform for acquiring European non-performing loansJones Day advised AlbaCore Capital LLP in connection with its co-investment (alongside Lindorff and CarVal Investors) in a platform to invest in unsecured non-performing loans in Europe.
  • Baring Vostok Capital Partners invests in BusforJones Day represented Baring Vostok Capital Partners Limited in connection with its purchase of Convertible Preferred Stock in a private placement by Busfor, an online global bus ticketing platform.
  • Aurelius Group acquires The Hospital GroupJones Day represented the The Aurelius Group, a Frankfurt-based private equity firm, in connection with its acquisition of The Hospital Group, a provider of surgical and non-surgical cosmetic procedures based in Birmingham, UK.
  • BHS International acquires digital and international franchise business from BHS Limited (in administration)Jones Day acted for BHS International in connection with its acquisition of the digital and international franchise business from the administrators of British retailer, BHS.
  • Lone Star acquires majority stake in ShearingsJones Day advised the Lone Star group in relation to the successful acquisition from existing management of the majority shareholding in the Shearings group, one of the largest package holiday and coach tour operators in the UK and owner and operator of over 50 hotels.
  • Liquidators seek advice in relation to dissolution of BVI limited partnershipJones Day is acting as lead advisers to Kenneth Krys and John Greenwood of KRyS Global in their capacity as joint dissolution trustees of Value Discovery Partners L.P. ("VDP"), a very substantial private equity fund.
  • LondonMetric forms joint venture with LVS II Lux X S.a r.l. for £175 million acquisition of portfolio of 27 commercial propertiesJones Day advised LondonMetric Property Plc in connection with a joint venture with LVS II Lux X S.a r.l. for the £175 million (US$287 million) acquisition of a portfolio of 27 DFS commercial properties from the administrators of Delphi Properties Limited.
  • Canyon Capital and Sankaty Advisors acquire loan portfolio secured by QHotels Group from Irish Bank Resolution Corporation LimitedJones Day advised Canyon Capital Advisors LLC and Sankaty Advisors, LLC in the acquisition of a portfolio of loans secured by QHotels Group from Irish Bank Resolution Corporation Limited.
  • Jones Day London advises charity in relation to VAT dispute with HMRCJones Day acted for Sutton Counselling in successfully challenging Her Majesty's Revenue and Customs' ("HMRC") decision that VAT should be paid on amounts received by the charity for providing counselling services to Sutton residents on the basis that these were taxable supplies.
  • Greystar acquires portfolio of 20 student accommodation and private let properties in EnglandJones Day advised Greystar Real Estate Partners as a buyer in connection with the acquisition of a portfolio of 20 student accommodation and private let properties in England together comprising over 6,500 student beds and 399 private let flats.
  • Cinema City International acquired Israel TheatersJones Day advised Cinema City International N.V. in its acquisition of Israel Theaters Real Estate BV ("SPC"), an indirect subsidiary of Israel Theaters Ltd., for a purchase price of €33.1 million (US$43.6 million).
  • RSM Tenon sells businessJones Day represented RSM Tenon as the Joint Administrators of an international wine shipper and wholesaler with respect to the marketing and sale of its business and certain of its assets.
  • Options Utility Services to sell assets of companyJones Day is advising the joint administrators of Options Utility Services Limited.
  • Standard Bank obtains €137 million summary judgment against Sheikh Mohamed Bin Issa Al JaberJones Day successfully represented Standard Bank Plc in proceedings against Sheikh Mohamed Bin Issa Al Jaber.
  • Royal Bank of Scotland amends and restates facility for storage unit providerJones Day advised The Royal Bank of Scotland Plc in connection with the amendment and restatement of a £98 million (US$154.6 million) multi-option facility for a provider of self, bulk, and multi-site storage units, together with granting and perfection of new security over several property assets valued at £9 million (US$14.2 million) and associated consents, covenant cure, and amendments to financial covenants.
  • ESO Capital successfully resolves €50+ million multi-jurisdictional project refinancing disputeJones Day successfully represented ESO Capital Luxembourg Holdings II S.A.R.L ("ESO") in its claim for €50+ million in relation to a dispute arising out of its refinancing of a property construction and development project in the French West Indies, culminating in a successful settlement in the summer of 2011.
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