02 March 2012

Carey Olsen bolsters its restructuring and insolvency expertise

Carey Olsen has announced the promotion of David Jones, a corporate restructuring and insolvency specialist, to senior associate within the firm’s litigation team in Guernsey.

David joined Carey Olsen in April 2010 and brought with him significant experience of advising in complex restructurings and insolvencies in the UK. Whilst in Guernsey, David has been involved in a number of the largest insolvencies in the island. In particular, he was part of the firm’s team that advised Hatfield Philips International Limited on the enforcement of an historic £330m commercial mortgage backed Lehman Brothers Loan, secured against commercial property in the City of London in 2011. That enforcement was the first of its kind, ultimately leading to the appointment of administrators to the holding structure in Guernsey.

Guernsey managing partner John Greenfield said: “David’s promotion is testament to his proven track record and the expert advice he provides to clients needing to resolve problems when facing financial difficulties or exposed to bad debt. Our practice includes experts from the firm’s litigation and corporate departments, who are experienced in cross-border work across a broad range of disciplines, enabling Carey Olsen to provide well-rounded restructuring and insolvency services. David’s appointment is a reflection of the ongoing development of Carey Olsen’s dedicated restructuring and insolvency practice in Guernsey and further strengthens our client service offering.

“Demand for complex, multi-jurisdictional restructuring advice from financial services organisations is increasing. The distressed commercial mortgage-backed security market in particular has provided two of the most significant instructions for the team in recent months together with restructuring and insolvency issues affecting investment funds,” added Advocate Greenfield.