EXPERTISE 

Karl focuses his practice on debt financing, restructuring, insolvency and special situations, representing corporate borrowers and issuers, lenders, special situation investment groups, bondholders, credit investors, financial sponsors, loan servicers, and insolvency practitioners. He concentrates on large cross-border transactions, usually involving complex structured financings or innovative restructuring techniques (both consensual and contentious) and is well known for his unequivocally practical, commercial and user-friendly advice. He has a wide range of sectoral experience, including automotive, real estate, energy, infrastructure, hospitality, sovereign, aviation, offshore and financial services.

Experience

High Profile Matters

  • Special Liquidators of IBRC on international recovery and litigation action against bank's largest borrower
  • The Co-operative Bank p.l.c., for the Ad Hoc Committee of Noteholders' £700M recapitalisation via schemes of arrangement
  • Privatbank advising Madison Pacific Trust as note trustee to noteholders following a bail-in process subsequent to a systemic bank fraud
  • Petroceltic International plc on the hostile examinership-led acquisition by Worldview Capital Management 
  • Etihad Airline Partners on its debut $1.2 billion platform financing program for 7 airlines and related service companies and on the subsequent insolvencies of Alitalia and Air Berlin
  • Lehman Brothers Holdings Inc. during its bankruptcy on realising and restructuring various of its European debt and equity investments, including real estate and hospitality assets.

Other experience

  • Advising on lending and intercreditor issues on many HY/LevFin transactions, including Delphi, Petra Diamonds, Novacap, Vale, Afren, Gulf Keystone Petroleum, Monarch Air, Nido Student Housing, CHC Helicopters, Mirion, Patheon and PCI Logistics
  • Advising various noteholder/lender committees and credit investors on restructurings, including Norwegian Air, Four Seasons Healthcare, Monte dei Paschi di Siena, Government of Belize, Congo, Belvedere, Debenhams, Schefenacker, Bilcare, Polaroid Inc, Breeze III & Breeze IV, IVG Immobilien, Houghton Mifflin Harcourt, BSS, SEAT Pagine, Ferretti Yachts, Scheide Mobel, TwoSisters Foods, TXU and Quinn Group.
Professional Memberships
  • Qualified as a Barrister, Inner Temple, (1994) and also admitted as a Solicitor (1998) 
  • Associate Member of R3, the UK’s leading association of business recovery professionals, and of INSOL International