Nathan Bickley-May is a Director with Teneo’s Financial Advisory business, based in Bermuda. Nathan has over 15 years of experience and his career has predominately focused on advising companies on restructuring and insolvency.
Prior to joining Teneo, Nathan was at KPMG Bermuda and joined as part of Teneo’s acquisition of KPMG’s restructuring business in Bermuda, prior to KPMG, he spent 10 years at an award-winning UK restructuring and advisory practice.
Nathan has significant experience across a multitude of sectors of business of varying sizes and complexities. Having advised businesses ranging from owner/managed to listed corporates, Nathan strives to provide a hands-on, solution focused approach to his clients and stakeholders at all times.
Nathan is a qualified UK insolvency practitioner, having passed his Joint Insolvency Examination Board (JIEB) exams (Corporate and Personal) at his first sitting in 2019, and acts as Secretary for the Restructuring and Insolvency Specialists Association of Bermuda (RISA).
Selected Project Experience:
- Experience conducting investigations for the Bermuda Monetary Authority under the Insurance Act and Digital Asset Business Act.
- Experience managing cross-border restructurings, including obtaining recognition in multiple jurisdictions.
- Afiniti Ltd (in Liquidation) – provided financial advisory support for a former “unicorn” AI group headquartered in Bermuda on behalf of the Company. Subsequently appointed as Joint Provisional Liquidators of the company and obtained sanction of a sale and compromise of the disposal of shares and assets to a newco structure controlled by the secured creditors.
- Three Arrows Capital Ltd (in Liquidation) – a crypto hedge fund with reported assets under management in excess of $3billion as at April 2022. Working with Teneo’s BVI office, as the Director on the file predominately tasked with dealing with asset realisation, investigative and multiple cross-border jurisdictional matters. This matter remains ongoing.
- Mining company debt restructure – Prior to joining KPMG, supported management of an AIM listed business operating a gold mine with its proposal to lenders to restructure its $120m debt obligations which were in default. The engagement also included advising the board generally on its solvency and fiduciary duty responsibility from a potential insolvency prospective. The entities shares had been suspended from trading as a result of its default. Ultimately, the debt restructure proposal was accepted by lenders, with terms agreed that management felt were acceptable when considering their overall fiduciary duties. The debt restructure allowed for trading of its shares to resume on the stock exchange.
- Motor vehicle finance business – Before joining KPMG, acted as the senior manager responsible for strategy and oversight of a team operating the day to day management of the Administration of the company. This included the ongoing trading of the business and run off of a ledger of c£20m across approximately 4,000 customers in the sub prime lending space. This assignment involved various lender stakeholders with indebtedness of c£15m with complex security arrangements. Decisive, considered decision making resulted in substantial periodic interim distributions being available to secured stakeholders within the first year of the Administration. A full capital debt recovery is forecast for all secured lenders over approximately 12-24 months.
- IT reseller – Prior to joining KPMG, assisted as part of a wider team with the appointment to one of the UK’s largest Microsoft IT resellers with turnover in excess of £200m. The company’s private equity investor had rejected the company’s request for additional funding and accordingly the company was likely to default on a substantial liability to its key supplier, Microsoft, resulting in the insolvency of the company. The team worked with management and all stakeholders to conduct an accelerated M&A process to source a purchaser for the company. Offers were received for the company’s entire share capital on a solvent basis with the transaction concluding prior to the company defaulting on Microsoft’s payment terms. The sale also secured the jobs of approximately 500 staff.