Peter Newman

Partner

Contact
F +44-20-7615-3100

London

10 Gresham Street

London, UK EC2V 7JD

T +44-20-7615-3105

F +44-20-7615-3100

As a partner in the Financial Restructuring Group, Peter advises companies, creditors and other stakeholders on large and complex restructurings, bankruptcies and insolvencies in Europe, the US and around the world. His experience crosses many borders and industry sectors. He specialises in structuring creative solutions to help his clients achieve value maximising outcomes in distressed situations. 

Primary Focus & Experience

His representations have ranged across a wide array of industries (energy and gas, pharmaceuticals, shipping, shipbuilding and docks, financial services, satellite, broadcasting, education, airline, automotive, public utilities and infrastructure, retail, commodities, mining, cement, printing, broadcasting, cable, hospitality, manufacturing) and jurisdictions.

Peter's recent experience includes advising:

  • The ad hoc group of New Lenders of TORM A/S, the Danish shipping company on its US$1.5 billion restructuring and merger;

  • The Junior Lender Coordinating Committee of General Healthcare Group, regarding the £2.1 billion restructuring of the largest private hospital group in the United Kingdom;

  • An ad hoc group of lenders of Cortefiel, S.A., regarding the €1.3 billion restructuring of the Spanish clothing retailer;

  • A European-based satellite network company, on its out of court restructuring;

  • The New Money Lenders to Promotores de Informaciones, S.A. (PRISA), on the innovative and highly successful €3.2 billion restructuring of the Spanish media and telecommunications conglomerate and owner of the world's best-selling Spanish-language newspaper, El País;

  • A lender on the restructuring of Stemcor Holdings Ltd, the international steel trading firm;

  • The lenders of Enterprise Holding Corporation on the sale of the UK public contracting and utilities business on the distressed sale to Ferrovial SA, the Spanish infrastructure company;

  • An ad hoc group of noteholders in the restructuring of Novasep Holdings S.A.S., the first high yield bond restructuring in France;

  • An ad hoc group of noteholders in the restructuring of Afrisam Investment Holdings (Proprietary) Limited, the first high yield bond restructuring in South Africa;

  • An ad hoc group of noteholders in the distressed refinancing of Reclamation Holdings;

  • An ad hoc group of holders of US$5.2 billion of Recovery Units issued by JSC BTA Bank, the Kazakh bank;

  • The Official Committee of Unsecured Creditors in the US chapter 11 cases of Arcapita Bank BSC, the Bahraini investment bank and private equity fund and the largest provider of shariah-compliant financial investment opportunities in the world;

  • A bilateral lender to DryDocks World in connection with challenges to the first ever company voluntary arrangement under Dubai’s Decree 57 regime and its parallel scheme of arrangement in Singapore;

  • The Official Committee of Unsecured Creditors of Lehman Brothers Holdings, Inc., the largest restructuring in history involving over 80 insolvency proceedings in approximately 20 countries;

  • The Official Committee of Unsecured Creditors of Refco, Inc.;

  • The Official Committee of Unsecured Creditors of Enron Corp.;

  • ProtoStar Ltd. and its affiliates in their chapter 11 cases and parallel Bermudan provisial liquidation proceedings and novel schemes of arrangement;

  • Satélites Mexicanos, S.A. de C.V. as a chapter 11 debtor and as debtor in the first ever Mexican concurso mercantil proceeding; and

  • A subcommittee of noteholders of Quebecor World (USA), Inc. on its coordinated US chapter 11 cases and Canadian CCAA proceedings.

Advising parties in interest in numerous chapter 11 cases across the United States: Intermet Corporation and its affiliates (chapter 11 debtors); Alper Holdings, USA, Inc. (chapter 11 debtor); MacGregor Golf Company (in out-of-court restructuring); Boston Generating, Inc. (counsel to secured lenders); Northwest Airlines, Inc. and its affiliates (counsel to ad hoc committee of secured noteholders); Equity Media Holdings Corporation and its affiliates (counsel to secured lenders); Communications Corporation of America, White Knight Holdings, Inc. and their respective affiliates (counsel to secured lenders); Heartland Communications (counsel to second lien lenders); Adelphia Communications Corporation (counsel to administrative agent of secured lending facility); Calpine Corporation and its affiliates (counsel to secured lenders); ASARCO LLC (counsel to corporate parent); Zapata Industries (counsel to shareholders and affiliates).

Peter regularly speaks on panels and writes on topics relevant to his practice. He is the co-author of the Lexis Practice Advisor® on “Out-of-Court Corporate Restructuring entitled “Understanding Business Workouts.”

Recognition & Accomplishments

Peter was recently selected as a winner of the "Emerging Leaders Awards" by The M&A Advisor 2017.

Peter was named an Outstanding Young Restructuring Lawyer by Turnarounds & Workouts and is recognized by Legal 500 and as a “Rising Star” by IFLR 1000.

The London restructuring practice built by Peter and Nick Angel was lauded as the “Best of the Best” in the 2015 IFLR 1000 law firm guide.

Peter is “adept at devising creative solutions for cross-border restructurings”Legal 500, UK 2016

One client describes Peter Newman as “extremely commercial and easy to work with”. Another client says: “Very competent, in particular I like Peter's communication style, which is calm and poised, very unusual for the sector, which makes him stand out and add gravitas to his message.” – IFLR 1000, 2017

“Peter Newman has the skills of a very good lawyer. He is strong technically, a strategic thinker and hard working. He offers outstanding client service and far better commercial judgement than many of his competitors.IFLR 1000, 2016

Peter is a Term Member of the Council on Foreign Relations and a member of Chatham House: The Royal Institute for International Affairs.

Additional Details
Education
  • New York University School of Law, J.D., 2004
  • University of Maryland, B.A., 2001
Admissions
  • New York