Richard Obank
Richard Obank
Richard Obank
Biography
Richard has over 38 years of experience acting for corporates, private equity investors, funds and financial institutions in restructuring and insolvency situations. He is a trusted advisor to boards of directors navigating financial distress, providing strategic guidance on directors’ duties and responsibilities.
Richard advises on restructuring and insolvency transactions. These include distressed acquisitions and disposals, debt and equity reorganizations, re-financings and funding arrangements, work outs and schemes of arrangement - often with a cross-border element. He also has extensive experience advising on company voluntary arrangements.
With a broad transactional background, Richard has worked across diverse sectors such as retail, construction, manufacturing, automotive, football clubs, casual dining, nursing and care homes, printing & packaging, hotels and leisure, and mining & minerals operations.
In addition to his advisory work, Richard has served as a board director and charity trustee in the education sector where there has been an urgent need to implement an operational transformation of the business.
Civic Involvement & Honors
- Richard is ranked Band 1 in Chamber & Partners UK 2020 for Restructuring & Insolvency, where he is described as a ‘superb lawyer’
- Richard is ranked as a Leading Individual in Legal 500’s 2020 table for Restructuring & Insolvency, where he is described as ‘methodical and super- efficient’
- In January, 2019, Richard made it into The Lawyer magazine’s Hot 100 list. This prestigious list, according to The Lawyer, comprises “the most daring, innovative and creative lawyers in the UK” Richard’s work in the retail sector led to him being named as one of the UK’s top deal makers. The Lawyer commented at the time that Richard “has carved out a name for himself in this area, working with boards of directors to save businesses from going under”
- In October 2019, Richard won Partner of the Year at the Yorkshire Legal Awards for his work within the restructuring arena and contribution to charitable causes, described as “a partner at the top of his game”
- In November 2019, Richard won Corporate Restructuring Lawyer of the Year at the Turnaround, Restructuring and Insolvency (TRI) Awards in London for his work in the retail sector
Professional Affiliations
- Solicitor of the Senior Courts of England’s and Wales (1989 qualified)
- Licensed insolvency practitioner (non-appointment taker) authorised by The Institute of Charted Accountants in England and Wales
- Board member and Fellow of the Institute for Turnaround
Admissions
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England and Wales
Related Capabilities
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Restructuring & Insolvency/Special Situations
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Finance
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Energy Transition
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Financial Institutions
Experience
- Acting on behalf of the administrators of various professional football clubs in England and Scotland (Premier League and Championship).
- Acting for a leading UK wholesale and retail grocery business with over 1,300 outlets on its operational turnaround and refinancing followed by a scheme of arrangement to effect a sale to new institutional owners.
- Advising the administrators of a significant online retailer (c.£650m turnover) and subsequent sale of business and assets.
- Acting on the restructuring of a leading UK hotel and leisure group and subsequent solvent liquidation following a successful sale to private equity investors.
- Acting for the administrators of a PE sponsored UK discount retail operation with over 350 stores and proposed company voluntary arrangement.
- Acting for the administrators of a leading womenswear fashion brand and combining this with a Chapter 11 filing to liquidate stock in the US.
- Acting for the plan administrators of the UK’s first Part 26A restructuring plan by shareholders.
- Advising for a number of airlines in relation to the insolvency of critical supply services.
- Acting on the post-restructuring acquisition of a Swiss/German/Austrian online retailer via a German restructuring plan process and new facilities.
- Acting for the senior lenders on the restructuring and pre-packaged sale of an international drilling group in the oil and gas sector operating in 22 jurisdictions.
- Acting for a listed company in the automotive components sector on its debt and equity reorganisation, pension scheme restructuring and disposal of a US subsidiary.
- Acting for a global shoe manufacturer in relation to new PE funding and implementing a company voluntary arrangement involving 350 stores in the UK and Ireland (involving debt and pension scheme restructuring).
- Acting for an international investment fund on the funding and potential acquisition of an insolvent on-line gambling platform.
- Acting for senior secured lenders on the refinancing and restructuring of the UK’s mining industry.
- Acting for the administrators of numerous high street fashion retailers.
- Acting on various acquisitions, structured disposals and portfolio reorganisations for private equity investors.
- Acting for the administrators of a national provider of student accommodation and sale of business and assets to new global operators.
- Acting for a national probation and rehabilitation services provider and solvent sale to a private equity investor involving the UK government.
- Reorganisation and pre-packaged sale to a private equity sponsor of a leading bathroom appliances group with operations across the UK, Canada and the US.
- Acting for a private equity investor on the solvent liquidation of a leading drilling technology business in Scotland.
- Acting on the debt restructuring and turnaround of a leading UK producer of static modular homes.
- Acting for the administrators of Europe’s largest printing group and pre-packaged sale.
- Acting on the solvent liquidation of a leading UK house builder following a successful sale of the group to a private equity investor.
- Acting for the administrators of Europe’s largest suppliers of merchandise and equipment in the gold sector.
- Acting for a PE sponsored listed company in its bid for a soft furnishings retailer.
- Acting for the administrators of a global fast fashion brand and combining this with a Chapter 15 filing to liquidate stock in the US.
- Acting on the acquisition of a UK shoe retailer with 35 stores from administrators.
- Acting for the administrators of the UK’s first ‘alt-net’ broadband supplier to go into administration and subsequent sale of business.
- Acting for various bidders in relation to well known, high street retail brands.
- Acting for a charitable air ambulance organisation in relation to the administration of its critical supplier of helicopter services.
- Acting for a charitable organisation in the SW of England of a 1,300 estate in relation to its operational turnaround.
- Acting for administrators and liquidators in relation to the pursuit of claims against directors of insolvent companies for breach of fiduciary duties, wrongful trading etc.
- Acting for administrators in relation to a UK and Irish care home group.
- Acting for a significant professional services group in relation to its successful refinancing and related matters.
- Acting for fixed charge receivers on numerous high value real estate assets following enforcement processes and subsequent sales.
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