James Warboys

James represents companies, financial stakeholders, advisory firms and insolvency practitioners on transactions across the full spectrum of restructuring and insolvency (R&I) in multiple jurisdictions and sectors, including distressed M&A, debt-for-equity swaps, liability management exercises, bond restructuring, alternative credit and other new money financings and distressed debt investments. 

James regularly advises distressed credit funds and other alternative capital providers on secondary debt and new money investments. He works in close collaboration with the Firm’s corporate, capital markets, banking and other practices across jurisdictions to undertake capital structure analysis and to develop innovative investment structures and strategies.

James was based in Hong Kong as a partner for 5 years and has extensive experience of advising and lending on big ticket restructuring and insolvency in Asia. 

James undertook a year-long secondment in 2013 to the global restructuring group at the Royal Bank of Scotland, during which he worked in the high-flow business team with large international banking clients to address distressed situations, particularly in the financial institution and shipping sectors.

James is a Legal 500 and Chambers ranked partner.

Work highlights

James has led, or been a key adviser, on a large number of major R&I and special situation deals. These include advising:

• Metro Bank on its recapitalisation transaction (IFR EMEA Restructuring of the Year 2024)
• Shareholders of The LYCRA Company and investors on the refinancing of the 2023 Notes through a drop-down financing transaction and the subsequent settlement transaction
• Yunneng Wind Power Co Ltd (a major Taiwanese offshore wind farm) on the restructuring of its EUR2.9bn debt and recapitalisation
• an ad hoc group of bondholders and lenders holding c.US$3bn in connection with the ongoing c.US$10bn offshore debt restructuring of Sunac China (IFR Asia Restructuring of the Year 2023).
• the lenders under a USD400m mezzanine facility on the restructuring and enforcement of The LYCRA Company to enable such lenders to take equity ownership of the group
• Genting Hong Kong Limited on its c.US$3.5bn restructuring and c.US$1bn recapitalisation – one of the largest and most complicated restructurings in Asia in recent memory
• mezzanine and senior lenders on the debt for equity swap to enable such lenders to take control of Baccarat S.A.

• CGG group on its multi-billion dollar restructuring through a market first safeguard process in France and Chapter 11 and 15 proceedings in the U.S.

• Abengoa in connection with the proposed restructuring of its multi-billion euro financial liabilities through Spanish homologación and Chapter 11 processes

James is a member of R3, IWIRC in Hong Kong and the Turnaround Management Association.

Other work highlights

• an ad hoc group of bondholders on the restructuring of China YuHua Education Corporation Limited’s HK$2.088bn convertible bonds
• an ad hoc group of bondholders on the restructuring of China Maple Leaf Educational Systems Limited’s US$125m convertible bonds
• an ad hoc committee of holders of the US$500m offshore notes issued by Dr Peng Holding HongKong Limited on the restructuring of such notes
• the syndicate of lenders on the restructuring of facilities made available to MMI International under a US$520m term loan facility and US$60m revolving credit facility agreement

• the lender on the c.US$80 million financing of an acquisition of Thai NPL portfolios by an international credit fund

• a Japanese trading company on the restructuring of a large exposure to one of the Bakrie Group companies in Indonesia

• the lenders on the restructuring of US$765m offshore syndicated and bilateral facilities to a subsidiary of Jindal Steel & Power, an Indian listed steel and energy company

• a Chinese corporate on a debt-for-equity restructuring to protect its initial US$1.5bn investment in an ore mine in Sierra Leone

• the co-ordinating committee of senior lenders on the restructuring of Van Gansewinkel Groep's €800m syndicated debt facilities

• Towergate Insurance Group on the £1bn financial and corporate restructuring of the group

• secured vessel lenders in connection with the US$ 3.1bn financial and corporate restructuring of Zim Integrated Shipping Services, the largest restructuring in Israeli history

• Banco Espirito Santo and subsequently Novo Banco in connection with the implementation of a bridge bank transfer resolution by Bank of Portugal

• Abu Dhabi Group on the US$1.8bn restructuring of Warid Telecom, Pakistan

• Vodafone in connection with the pre-packaged acquisition of divisions of the Phones4U business out of administration

• international lenders on the £1.4bn restructuring of Petroplus and subsequent insolvencies in multiple European jurisdictions

James studied history and politics at York University.