David Johnson Email & Phone Number

London, United Kingdom

Senior Lawyer in the Enforcement Division of the FRC, with responsibility for leading the investigation and prosecution of complex and / or high-profile audit and accounting matters affecting the UK public interest.Recent matters I have led include:• PwC / Babcock International Group plc: Decision Notice and sanctions (including a fine of £7.5m) for “numerous, serious” statutory audit breaches, predominantly relating to significant UK government contracts.• KPMG /… Show more Senior Lawyer in the Enforcement Division of the FRC, with responsibility for leading the investigation and prosecution of complex and / or high-profile audit and accounting matters affecting the UK public interest.Recent matters I have led include:• PwC / Babcock International Group plc: Decision Notice and sanctions (including a fine of £7.5m) for “numerous, serious” statutory audit breaches, predominantly relating to significant UK government contracts.• KPMG / Silentnight: Contested tribunal proceedings against KPMG and a partner in respect of pre-insolvency engagements. Significant sanctions imposed (inc. £13.5m in fines, 13 year exclusion from membership and insolvency practice) and findings of dishonesty, lack of integrity and lack of objectivity.• KPMG / BNY Mellon: Tribunal proceedings against KPMG for Misconduct in relation to CASS assurance.• PwC / Redcentric plc: Decision Notice and sanctions (including a fine of £4.55m) against the statutory audit firm and statutory auditors.• AssetCo plc (members in business): Exclusions from membership for former CEO, CFO and Group FC, of 42 years in aggregate.• Working with the FRC Board and DBT developing policy in respect of the FRC Transformation Project.Core competencies include:• Setting the strategic direction of large and / or complex audit, accounting or actuarial investigations and prosecutions. Leading settlement negotiations on complex prosecutions.• Managing a multi-disciplinary team of lawyers, forensic accountants, paralegals and external experts / suppliers.• Drafting legal documents such as Decision Notices, Formal Complaints, statutory information requests and instructions to counsel / experts.• Advising on all relevant areas of regulatory law, public law and litigation. Advising senior stakeholders such as Executive Counsel, FRC Board and Board committees.• Managing multi £m budgets, in compliance with Managing Public Money and FRC budget policies. Show less

5 New Street Square, London, Ec4A 3Tw

Senior Associate - Barrister, in the Restructuring and Corporate Recovery team. I acted for lenders and other institutional creditors, corporations, their directors and shareholders, insolvency practitioners and unsecured creditors in businesses which are in - or anticipating - financial difficulties. Experience included:• Lead Senior Associate managing litigation for the administrators of The Rangers Football Club plc. in respect of: (1) a conspiracy and negligence claim against former… Show more Senior Associate - Barrister, in the Restructuring and Corporate Recovery team. I acted for lenders and other institutional creditors, corporations, their directors and shareholders, insolvency practitioners and unsecured creditors in businesses which are in - or anticipating - financial difficulties. Experience included:• Lead Senior Associate managing litigation for the administrators of The Rangers Football Club plc. in respect of: (1) a conspiracy and negligence claim against former advisers; and (2) application under Ss.234 of the Insolvency Act 1986 for delivery up of property and information.• Advising the purchaser (a private investor) on the distressed acquisition of “The Gherkin” from fixed charge receivers.• Managing an investigation for a major asset-based lender, following the failure of its borrower, including a review of the pre-lend due diligence, strength of internal procedures and liability of professional advisers.• Various litigation pursuant to the Insolvency Act 1986, including in respect of antecedent transactions (Ss.238 “Transactions at an Undervalue”, 239 “Preferences”, 423 “Transactions Defrauding Creditors”) and directors’ duties / misfeasance (s.212).• The restructuring of a substantial care home group with syndicated facilities of c. £350m, including a review of insolvency options, advising on intercreditor / waterfall arrangements, negotiating debt / equity documentation and managing an accelerated M&A process.• Acting for a significant ransom creditor of Phones4U Limited (In Administration) to secure payment of substantial pre-administration debts.• Led the legal team acting on the pre-packaged administration and sale of stockbroker Seymour Pierce.• Acting for numerous financial institutions and office holders in respect of the appointment of administrators or liquidators and drafting pre-pack business / asset sales in insolvency situations. Recently in respect of the healthcare, automotive and FMCG / retail sectors. Show less

London, United Kingdom

As the sole secondee lawyer in the Corporate Restructuring team at Santander UK plc, I worked within the business to manage risk and provide restructuring solutions in respect of the bank's distressed loans portfolio.Experience included:• Advising the bank, as part of a syndicate, on the distressed restructuring of a substantial care home group with facilities of c. £350m. This instruction involved managing an accelerated M&A process, negotiating with the syndicate on the… Show more As the sole secondee lawyer in the Corporate Restructuring team at Santander UK plc, I worked within the business to manage risk and provide restructuring solutions in respect of the bank's distressed loans portfolio.Experience included:• Advising the bank, as part of a syndicate, on the distressed restructuring of a substantial care home group with facilities of c. £350m. This instruction involved managing an accelerated M&A process, negotiating with the syndicate on the proposed staple debt package, reviewing and amending debt and equity documentation, advising on intercreditor / waterfall arrangements and considering IFRS 10 issues which arose on a potential debt for equity swap.• Documenting the sales of various distressed debt positions (on LMA terms) to investment banks and various funds (aggregate value over £100m in the last 12 months), including negotiating confidentiality undertakings and managing purchaser due diligence.• Advising relationship managers on various products including term loans, RCFs, FX, ISDA agreements, hire purchase, invoice / asset finance, bonds and guarantees.• Drafting or reviewing various commercial documents such as exclusivity agreements, NDAs, terms sheets, engagement letters and hold harmless letters.• Driving internal change through special projects to review and manage the bank’s legal risk: a) amending the UK real estate policy for lending to foreign-incorporated SPVs; b) reviewing the bank’s operational response to insolvency events; and c) advising on the UK corporate FX lending policy.• Updating the business on applicable regulatory developments. Show less

Bishopsgate, London

Seconded to the Global Restructuring Group of RBS (Business Restructuring Group and Recoveries). Sitting within the business and working alongside relationship managers, I provided pro-active, commercial advice on numerous restructuring matters.The role included providing strategic advice on restructurings and re-financings, drafting and opining on finance documents, advising on inter-creditor agreements, equity participations, accelerated M&A, margin enhancements and deferred pricing… Show more Seconded to the Global Restructuring Group of RBS (Business Restructuring Group and Recoveries). Sitting within the business and working alongside relationship managers, I provided pro-active, commercial advice on numerous restructuring matters.The role included providing strategic advice on restructurings and re-financings, drafting and opining on finance documents, advising on inter-creditor agreements, equity participations, accelerated M&A, margin enhancements and deferred pricing agreements.Notable cases included: 1) an urgent restructure of a leisure business with multi-bank borrowings, including participation in steering committees and various lender negotiations; 2) the contentious exit and administration of Plymouth Argyle Football Club. Show less

Devonshire Square, London

Barrister in the Business Recovery and Insolvency team, I advised banks, financiers, asset-based lenders and corporates on insolvency and restructuring matters.

Temple, London

Pupil to: Simon Mills and Rachel Sleeman (both Commercial Team) & Nick Grundy (Property Team)

Southampton, United Kingdom

As a member of the insolvency & commercial litigation department I provided advocacy and advice to office holders and creditors of distressed businesses.

Llm, Commercial And Corporate Law

Grade: Merit Courses: Corporate Insolvency, International Commercial Litigation, International and Comparative Trust Law, International.

Pgdl, Bar Vocational Course

Grade: Very Competant Ranked in the top 10% of the year.

Llb (Hons), Law, 2.1