Profile: David Chubb
David Chubb
Partner
David specialises in helping companies and their main creditors to find solutions when there is financial stress in the business. His teams will assess the options available to limit the loss of value for creditors and identity the best way of preserving the value of the business.
When companies are under-performing, this most often leads to cash pressures which limit the ability of the company to pay creditors or make investments to turn things around. Directors then come under pressure from different stakeholders who are likely to have their own competing agendas. This environment can be very stressful for the company and very challenging for the directors who have a fiduciary duty to continue to manage the business for the benefit of all stakeholders. David is familiar with these situations and has the experience to help parties reach a good outcome.
Sometimes the level of financial distress means that the company has to go into an insolvency process. As an Insolvency Practitioner, David is able to take insolvency appointments and once in office, determine a strategy to realise the assets in the best way. Using insolvency has also been particularly successful as a method for restructuring companies such as London Town Pubs Limited.
Experience:
David has over 30 years of experience in the City. Prior to joining PwC, he had a banking career which encompassed Standard Chartered Bank and Hambros Bank and his work with these institutions encompassed a wide variety of activities including corporate lending, trade finance, branch banking and risk management. He joined the business recovery team at PwC in 1998 since when his work as encompassed a broad range of restructuring and insolvency assignments in various sectors.
Assignments include:
In 2010, high profile administrations included the iconic nightclub, Fabric and Archial Architects which was AIM listed and the largest firm of its type in Europe. Both businesses were successfully sold after a short period of trading in Administration.
David advised the secured creditor of Admiral Taverns Group and led the successful restructuring which included taking appointments as Administrator. He also advised the secured creditor of Orchid Pub Group and led the successful restructure of the opco/propco which included the use of the administration process. Other successful pub group restructurings include London Town Pubs Plc and Piccadilly Properties Limited and he is currently administrator of over 500 pubs held in different companies.
