Professional ExperienceAaron is the managing partner of the global restructuring and insolvency group. He has spent the last 25 years working on cross border restructuring cases in many parts of the world. In 1998, Aaron set up the firm's Asian restructuring practice and was involved in many of the high-profile restructurings during the Asian crisis including the
"quasi-sovereign" restructuring of Guangdong Enterprises.
On his return to London, Aaron worked on some of the largest English and European restructurings of 2003 to 2007 including advising:
- on the special administration and subsequent return to public ownership of Metronet.
- Schefenacker on the restructuring of indebtedness of a German company by migrating all its assets and liabilities to an English company, comprising its financial indebtedness under English law and subsequently obtaining recognition of the compromise in the United States.
In the current downturn, he has acted for a number of government institutions, debtors and creditors and relevant experience includes advising:
- on the restructurings of the insolvencies of Lehman and the Icelandic Banks.
- Monier on the restructuring of EUR 2.2bn indebtedness of the company
- assets were located in France, Germany and Austria through a Luxembourg security enforcement.
- Germany's largest residential real estate company in Germany, Deutsche Annington Immobilien Group (DAIG), on the rescheduling of its EUR4.5bn
securitisation issued in August 2006. This is one of the largest European real estate finance and securitisation reschedulings since the financial crisis, involving an English scheme of arrangement of an Irish company, whose underlying assets are located in Germany.
- The creditors' committees in relation to the USD14.4bn restructuring of Dubai World.
- The private equity fund Pamplona in the recapitalisation (in which Pamplona increased its stake) of leading international drilling and engineering services contractor, KCA DEUTAG. The deal involved the equitisation of EUR580m of mezzanine debt and the provision of EUR550m of fresh equity capital to the group.
- The agent under a USD1.2bn facility made available to the Eagle Bulk Group, headquartered in New York City, in order to finance the construction of a fleet of Supramax dry bulk tankers. Eagle Bulk is the largest US-based operator of Supramax tankers.
Aaron has also advised the English Treasury and the FSA on matters involving systemic risk to the UK financial services industry.
Admitted as solicitor, England and Wales, 1990
BCL, Oxford University, 1980
MA, Jurisprudence, Oxford University, 1980