Phil Nicholls is a director in our London Restructuring team with over 15 years’ experience, and is both ACCA and JIEB qualified.

Phil specialises in complex big ticket contingency planning and insolvency engagements, with a particular focus on financial services mandates. He advises a broad group of stakeholders, including corporates, creditors and regulators, and leads a number of Teneo’s largest insolvencies.

Phil is also the architect of Teneo’s Entity Priority Model, which has been deployed on a number of contingency planning and insolvency engagements to:

1. Evaluate returns to stakeholder in alternative outcomes (including in non-consensual Court implementation); and
2. Determine actual dividend payments on Group insolvency appointments.

Selected highlights of relevant experience include:

• Special Administration of Sova Capital Limited, including leading settlement of in-flight transactions, trade out of proprietary portfolios (securities, repos and derivatives), and analysis re. client rights and quantification of claims.
• Liquidation of ES Bankers (Dubai) Limited, including leading the wind down of a $1.2bn Client securities portfolio, dealing with cross jurisdictional legal claims, and analysis re. client rights and ranking of claims.
• Administration of Fintyre Group Limited, a European tyre distribution holding structure, including leading investigations into the reasons for failure and litigation to recover sums due to the business
• Contingency planning advice for secured bondholders to an airline (with security over landing slots), focussed on options analysis in the event that a broader restructuring fails.
• Contingency planning advice to bond providers to multinational construction and support services business, including producing an entity priority model for liquidation analysis purposes.
• Contingency planning advice to RCF and guarantee lenders to a German multinational heat exchange business, including Plan B construction and analysis, and outcome analysis.
• Contingency planning advice to a banking group, including preparing liquidation outcome analysis to support restructuring.
• Contingency planning advice to a global aviation business, including options analysis in relation to business units underperforming as a result of COVID.
• Multiple scheme comparator engagement across various sectors (including alternative scenario and outcome analysis, and entity priority modelling).
• Advising the FCA in relation to regulated firm Scheme of Arrangement, including assessing alternative scenario and outcome analysis prepared by the company.