Ian Wallace

Partner
White & Case

Biography

Ian is a partner in the Firm's Financial Restructuring and Insolvency group in London, with more than 15 years of experience of advising clients in complex international restructuring situations. His practice focuses on businesses in financial difficulty, advising debtor-side corporates and financial sponsors as well as a wide range of sophisticated creditors including banks, funds and noteholders.

In addition, Ian regularly advises directors, insolvency practitioners and other stakeholders on UK and international aspects of debt restructuring transactions.

Ian has particular expertise in advising borrowers and creditors in the distressed shipping and oil & gas/offshore sectors, and is involved in several high profile ongoing restructurings of businesses suffering the effect of the current headwinds in those sectors.

Selected experience includes advising:

• The Oi group, one of the world’s largest integrated telecoms service providers, on its US$20 billion debt restructuring by way of a Brazilian recuperação judicial (“RJ”) process;
• The Coordinating Committee of European lenders in multi-billion dollar restructuring of the Seadrill group, including the ongoing US Chapter 11 proceedings;
• The Norwegian and Dutch lenders to the CGG group on its restructuring including advice on establishment of a new VesselCo structure and on the ongoing US Chapter 11/French sauvegarde proceedings;
• Turkish PE funds and corporate and banking clients on confidential restructuring matters;
• The Gama Group on a general restructuring and/or refinancing of its outstanding indebtedness;
• Turkish infrastructure business Yüksel on its ongoing restructuring discussions with its bondholders;
• The Ceona oil and gas services business on its lender negotiations and on its subsequent UK administration and asset sales;
• The RBL lenders to the Petroceltic oil and gas business on restructuring discussions and contingency planning strategy;
• Certain creditors in the restructuring and subsequent insolvency of Toys R Us’ European business; and
• The directors of the English companies within a high street retail business in connection with an accelerated M&A process and sale by way of pre-packaged administration.

Publications

Co-author of "Restructuring across Europe – a new era?", White & Case, January 2019

Author of "House of Fraser pre-pack: still a viable option", White & Case, August 2018

Author of "Transatlantic court-ing behaviour: the US v. the UK", White & Case, August 2018

Author of "The future of CVAs: Not just for leases…", White & Case, July 2018

Author of "CVAs: A 2018 Revival", White & Case, January 2018

Co-author of "Maritime and offshore restructuring in Singapore: A safe harbour?", White & Case, December 2017

Co-author of "Discussing decommissioning: Investment opportunities and regulatory concerns", White & Case, April 2017

Speaking Engagements

"Charting a course. Financial restructuring and consolidation in the shipping industry", January 2015: Marine Money conference, London

"The Winds of Change: Restructuring under the UK vs the US Models", May 2015: R3 Annual Conference, Berlin, (panelist)

"Conflicts of Interest in Insolvency Scenarios for IPs and Lawyers", March 2014: Sweet & Maxwell Insolvency Law conference, London, (panelist)

"Restructuring, Recapitalisation and Bank Loan Trading", February 2014: Marine Money conference, Hamburg, (panelist)

Speaker at these events:

Bonds, Loans & Sukuk Africa 2020