Martin Brown

Work Highlights

-Project Altrincham – advised a club of five banks on the £250m RCF it had made available to a listed national car retailer which encountered financial and regulatory difficulties.

-Oak Furnitureland – advised a special situation investor on its loan to own acquisition of this national retailer and a related financial restructuring.

-Intu – advised one of the key lenders to Intu, including advice in relation to the proposed group-wide standstill and thereafter on certain bespoke transitional service arrangements and a legal structure to enable a managed exit for the lender in relation to two shopping centres.

-Project Tennessee – advised a well-known package holiday business on the restructuring of its balance sheet as part of a consensual transaction with its senior lenders, sponsor and the CAA.

-Project Eight – advised a club of five lenders on its £175m facility to a national commercial vehicle leasing business over an 18-month period following various defaults, culminating in a successful sale to a financial institution.

-Project Serlby – advised a special situation investor on its acquisition of a portfolio of loans secured against various property company interests in care homes and the subsequent work-out of the value in those assets.

-Carillion – advised a range of stakeholders on major issues arising from this high-profile compulsory liquidation.

-Flybe plc – advised the trustees of the Flybe pension scheme on the company’s restructuring proposals, its rescue by the Connect Airways consortium and subsequent administration.

-Fairfield Energy Group – advised the Fairfield Group in relation to the restructuring of US$1.5bn debt and related oil and gas matters.

-TM Lewin – advised the lender on a sale of its debt to a fund that effected a restructuring and pre-packaged administration sale to keep the business trading as a going concern.

-Carpetright plc – advised a club of banks on a financial restructuring that this national listed retailer went through in 2019 which included the use of a CVA and a rights issue, and thereafter advised the banks on the sale of their positions to a special situation investor.

-A national dental practice – advised a group on the restructuring of its leveraged finance facilities, leading to a solvent sale with equity return.

-Project Owl – advised a club of three banks in relation to the restructuring of their £110m of credit facilities to a chain of 12 ‘Holiday Inn’ branded hotels which included the banks taking 95% of the equity from the sponsor.

-Phones 4U group – advised ING as the security trustee for bondholders and banks.

Practice Areas

Martin is the Head of CMS’s UK Restructuring & Insolvency team, with over 20 years’ experience of advising creditors, debtors and insolvency practitioners on all aspects of financial restructurings and non-litigious aspects of formal insolvency proceedings. He also advises special situation investors on their investments, including the acquisition of non-performing loan portfolios, single credits and distressed businesses.

Based in London, Martin qualified in 2000 and has been a partner since 2008. His experience includes a secondment to a leading UK bank’s work-out team. He is ranked as a leading individual for restructuring and insolvency by both Legal 500 and Chambers, described as ‘a class act. He is absolutely exceptional - he reads circumstances and situations very well’.

Education