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Phil Nichols

Phil Nicholls

Director

Phil Nicholls is a Director with Teneo in London, having joined Teneo as part of its purchase of Deloitte’s UK Restructuring business.

Phil is a qualified insolvency practitioner and has over 14 years’ experience advising corporates, creditors and regulators in relation to complex and cross border contingency planning and insolvency engagements.

Phil has a particular focus on financial services and investigations, and prior to joining Teneo led some of Deloitte’s largest and most complex insolvency appointments, including the ongoing liquidation of ES Bankers (Dubai) Limited in the DIFC.

Select Project Experience

  • Two phases of scheme comparator analysis (alternative scenario and outcome analysis and entity priority model) as part of a scheme of arrangement for global gaming business.
  • Contingency planning advice to government department in relation to strategic asset.
  • Contingency planning advice banking group, including preparing liquidation outcome analysis to support restructuring.
  • Solvency advice to electronic payments business subject to FCA issued VREQ.
  • Advising the FCA in relation to the solvency of a car leasing business funded through retail investor.
  • Advising the Pension Trustee of a global manufacturing business, including preparing a liquidation analysis to assess the value of a guarantee potentially being provided to the pension scheme.
  • Advising a creditor in relation to the a Restructuring Plan, and in particular whether the Restructuring Plan represented a better outcome that the relevant alternative.
  • Contingency planning advice to a European cinema business, focussed on options for stranding or compromising potential litigation liabilities as part of a broader restructuring.
  • 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.
  • Assessment of liquidation outcome analysis for lenders to a global commodities trader.
  • Contingency planning advice to a global aviation business, including options analysis in relation to business units underperforming as a result of COVID.
  • Contingency planning advice to the RCF lenders to a global aircraft lessor, including options analysis and review of company EPM outputs.
  • Administration of a European tyre distribution holding structure, including investigations into the reasons for failure.
  • Scheme comparator analysis (alternative scenario and outcome analysis and entity priority model) as part of a scheme of arrangement for Spanish owned European paper manufacturer.
  • 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 bond providers to multinational construction and support services business as part of a broader financial restructuring, including producing an entity priority model for liquidation analysis purposes.
  • Liquidation of a DIFC bank, including mapping the wind down of a $1.2bn Client securities portfolio, and dealing with cross jurisdictional legal claims as part of the liquidation of a European banking group.
  • Contingency planning advice, including EPM preparation and “double dip” analysis, for a Greek multinational retail and wholesaler.
  • Contingency planning advice to lenders to a global insurance claims handling business, including Plan B construction and analysis, and outcome analysis.
  • Scheme comparator analysis (alternative scenario and outcome analysis and entity priority model) as part of a scheme of arrangement for an international mining and metallurgical business.
  • Advising the FCA in relation to the solvency of a HCSTS lender and a mini-bond issuer.
  • Solvency advice to a CMBS structure subject to an administration application.
  • Administration of an FCA regulated UK FX trader, including investigations into misappropriated funds to Dubai and director conduct.
  • Contingency planning advice to an FCA regulated UK rent-to-own retailer, including preparing an estimated liquidation outcome analysis.
  • Insolvency of a group of cross jurisdictional investment funds and mini-bonds and associated investigations, with assets in the UK, Channel Islands, USA and Latin America.

Articles by Phil Nicholls