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Martin Brown

Partner

CMS Cameron McKenna Nabarro Olswang LLP
Cannon Place
78 Cannon Street
London
EC4N 6AF
United Kingdom
Languages English, French

Martin Brown has over 18 years’ experience of advising lenders, borrowers and insolvency practitioners on all aspects of financial restructurings and non-litigious aspects of formal insolvency proceedings. He also advises distressed debt investors on the acquisition and workout of non-performing loan portfolios, single credits and distressed businesses, and other stakeholders affected by corporate financial distress, including trustees of DB pension schemes.

Based in London, Martin qualified in 2000 and has been a partner since 2008. He is described in Legal 500 as ‘very smart and creative’ and in Chambers as having ‘great commercial acumen and good focus when handling complex multi-jurisdictional matters’.

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Relevant experience

  • The senior lenders to a listed UK retailer, with over 400 stores in the UK and Europe that used a company voluntary agreement (CVA) as part of its turnaround.
  • The corporate trustee of Flybe Group plc’s defined benefit pension scheme in connection with the sale of the listed airline’s business to a consortium led by Virgin Airways.
  • Various parties affected by the collapse of Carillion plc and its group, including the project company for the Midlands schools project and the lenders to various of the other projects.
  • A large private equity-owned E&P company on the restructuring of its debts in excess of USD 1.2bn and new loan facilities and other arrangements with its co-venturers and various other stakeholders.
  • Various different purchasers and sellers of a non-performing loan books with an aggregate face value in excess of EUR 5bn including Project Adelaide, Project Hurst and Project Serlby.
  • The Security Trustee to the bondholders and other lenders to the Phones 4U group.
  • The senior lenders to a major cross-border equipment supplier in the oil and gas sector, resulting in a debt restructuring and then on a successful refinancing.
  • A national dental practice group on the restructuring of its leveraged finance facilities, leading to a solvent sale generating equity return.
  • A leading provider of engineering and constructing services to the onshore and offshore energy industries, listed in the UK and headquartered in Dubai, on its negotiations with its lenders to restructure and subsequently refinance USD 800m of credit facilities.
  • An investment bank on its acquisition of a company with rights to a major infrastructure asset in the power sector and the restructuring of associated debt of over GBP 300m.
  • A syndicate of banks on their lending to a cross-border engineering and environmental consultancy listed on AIM, which included a debt for equity swap, a rights issue and subsequent refinancing.
  • An investment bank on its acquisition of certain senior bank debt and thereafter a restructuring via a pre-packaged administration sale and a CVA, in the waste management sector.
  • Various different lenders and investors on restructurings, refinancings and other exits in the hotel and leisure sector, with the aggregate amount of debt on such transactions exceeding GBP 2.5bn.
  • An investor in relation to its rescue package for a distressed mortgage lender.
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Education

  • 1997 – LPC, The College of Law, Chester
  • 1996 - LLB Law with French, The University of Birmingham, Birmingham
  • 1995 - Diplôme d’Etudes Juridiques Françaises, L’Université de Limoges 
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30 November 2020
The re­turn of Crown pref­er­ence from 1 Decem­ber 2020
What are the new pro­vi­sions? For al­most 20 years, the Crown has been an un­se­cured non-pref­er­en­tial cred­it­or in re­spect of all sums ow­ing to it. However, in re­spect of cer­tain in­solv­ency pro­cesses where...
13 October 2020
A new op­tion for fin­an­cially dis­tressed com­pan­ies: the new re­struc­tur­ing...
For many years, a fin­an­cially dis­tressed com­pany un­able to agree a con­sen­su­al re­struc­tur­ing with its key cred­it­ors had only two form­al op­tions avail­able to it un­der Eng­lish law as part of seek­ing to...
01 July 2020
Cor­por­ate In­solv­ency and Gov­ernance Act 2020
In­tro­duc­tion On 20 May 2020, the UK Gov­ern­ment pub­lished the Cor­por­ate In­solv­ency and Gov­ernance Bill (the “Bill”).  The Bill was pub­lished in re­sponse to Cov­id-19 with a view to as­sist­ing com­pan­ies...
21 May 2020
Cor­por­ate In­solv­ency and Gov­ernance Bill 2020
In­tro­duc­tion On 28 March 2020, the UK Gov­ern­ment an­nounced up­com­ing in­solv­ency law re­forms in re­sponse to Cov­id-19, in­ten­ded to help com­pan­ies and dir­ect­ors. On 23 April 2020, the UK Gov­ern­ment an­nounced...
17 April 2020
CMS Ex­pert Guide to coronavir­us re­lated loan morator­i­ums
As the COV­ID-19 out­break con­tin­ues to spread across the globe, gov­ern­ments and banks in many jur­is­dic­tions have in­tro­duced ex­traordin­ary meas­ures to al­le­vi­ate the fin­an­cial and eco­nom­ic im­pact of the...
Comparable
31 March 2020
Is the gov­ern­ment do­ing enough for the UK’s air­line in­dustry?
The re­cent an­nounce­ment by the US gov­ern­ment that it is mak­ing US$25 bil­lion of grants and a fur­ther US$25 bil­lion of loans avail­able to sup­port the pas­sen­ger air­line in­dustry in the United States con­trasts...
30 March 2020
Changes to UK In­solv­ency Law in re­sponse to COV­ID-19
In­tro­duc­tion On Sat­urday (28 March 2020) the UK Gov­ern­ment an­nounced cer­tain changes to in­solv­ency laws in re­sponse to COV­ID-19, in­ten­ded to help com­pan­ies and dir­ect­ors. There are two as­pects to the...
11 March 2020
COV­ID-19 Chal­lenges for the Air­craft Leas­ing In­dustry
The out­break of COV­ID-19 has caused a very dra­mat­ic drop in air­line pas­sen­ger num­bers, par­tic­u­larly to areas iden­ti­fied as hav­ing many cases. The dra­mat­ic re­duc­tion in pas­sen­ger num­bers rep­res­ents a pro­found...
30 September 2019
Ad­vising the Board on In­solv­ency Risk
A cli­ent’s per­spect­ive - Steve Hutchin­son, CFO, UK Coal dur­ing two phases of re­struc­tur­ing The duty to take in­to ac­count cred­it­ors’ in­terest­sIs the board ob­liged still to bal­ance the in­terests...
04 March 2019
Days of fu­ture past: the re­in­tro­duc­tion of Crown Pref­er­ence
HM­RC has launched a con­sulta­tion on new le­gis­la­tion that will re­store (and im­prove) its status as a sec­ond­ary pref­er­en­tial cred­it­or for cer­tain tax debts in busi­ness in­solv­en­cies (the “Con­sulta­tion”)...
18 February 2019
When do dir­ect­ors’ du­ties at law switch to be­ing owed to the com­pany’s...
A real, as op­posed to re­mote, risk of in­solv­ency is not ne­ces­sar­ily enough for the du­ties of a board of dir­ect­ors to switch from be­ing owed to its share­hold­ers to be­ing owed to its cred­it­ors. So ruled...
7 November 2018
CMS tri­umphs at TRI Awards 2018
CMS has been awar­ded ‘In­solv­ency Law Firm of the Year’ at the pres­ti­gi­ous Turn­around, Re­struc­tur­ing & In­solv­ency (TRI) Awards, held on 6 Novem­ber in Lon­don. The CMS team was re­cog­nised for its leg­al...