Dan Kelmanson

I am a senior associate in the Restructuring & Insolvency team in London.

I have over twenty years-experience working on insolvency and restructuring matters in the London mid-market. I also spent 5 years working in-house at Barclays. I act for lenders, bondholders, creditors, insolvency practitioners, companies and directors and individuals on all aspects of insolvency and restructuring, both non-contentious and contentious.

I regularly advise insolvency practitioners in relation to formal insolvency appointments including administration, liquidation, CVA, receivership and bankruptcy. Advice encompasses pre-appointment matters, in court and out of court appointments, trading issues, stock and retention of title, supply chain, employee issues, asset recovery and business and asset sales, including accelerated M&A.

I also act for lenders in relation to distressed/delinquent borrowers, including reviewing security and events of default, advising on enforcement and other options, reservation of rights, waiver and standstill arrangements and amendment and restatement of facilities and security.

On the contentious side, I have advised office holders in pursuing antecedent Insolvency Act claims including preferences and transactions at an undervalue, wrongful trading and misfeasance and breach of duty claims against directors, and also defending directors from such claims.

• Acting for the provisional liquidators of four Bermudan insurance companies involved in a large international fraudulent enterprise, in relation to the realisation and recovery of UK based intra-group loans and preferential shareholdings, involving s.426 cross border recognition in the UK.
• Advising the administrators of a high street retail chain on dealings with the German parent company (subject to the ESUG process in Germany), trading issues, retention of title and the sale of the remaining assets of the business.
• Acting for Trustees in Bankruptcy in relation to the recovery of estate assets including: the reinstatement of a dissolved property investment company, putting the company into members' voluntary liquidation and receiving the surplus into the estate; and defending a beneficial interest claim by, and negotiating a settlement with, the bankrupt's ex-wife, in respect of another property.
• Acting for a purchaser on its acquisition of certain contracts and assets (including monies in the field) from a competitor vending machine business in administration.
• Advising a private trust investor in relation to its equity and debt investment in an aviation company, involving the review of contractual, security and enforcement rights, conflict of interest and board resignation and advising on exit strategies.
• Advising the holder of loan notes in a deadlocked company unable to repay, in full, sums due under prior loan notes, including advice on events of default, enforcement options and reservation of rights, and the negotiation of waiver and standstill arrangements.
• Advising the trustees of a UK pension scheme in relation to their £2BN deficit claim in the administration of the company, their guarantee claims in the Canadian and US insolvencies of the parent company guarantors and their pensions legislation claims against certain other international group companies, including the protection of such claims in various European jurisdictions.
• Advising a bank in relation to a borrower operating a chain of public houses and the strategies for restructuring the group (to preserve the value of certain successful venues) and disposal, including the review of security.