David McPherson

David has also acted on a number of debt restructuring and insolvency transactions, including acted for the borrower on the creditor compromise of the debts of the franchisee of Burger King New Zealand and the restructure of Yellow Pages Group and MediaWorks, two of the largest debt restructures undertaken in the New Zealand market. He has also acted for Calibre Partners on the receivership of Ormiston Rise and the holding company of the Villa Maria wine group.

He also has specialist expertise in cross-border and domestic asset leasing, having acted on numerous leasing transactions including Japanese, German and US leveraged and operating lease structures, defeasance leasing transactions and export credit structures.

The Legal 500 Asia Pacific 2024 ranks David as a 'Hall of Fame' lawyer for banking and finance and considers him "trusted counsel for lenders and borrowers on high-value acquisition and debt restructurings." He is also ranked as a leading individual in restructuring and insolvency. The IFLR1000 2023 names him as highly regarded in banking and restructuring and insolvency. David is ranked in a previous edition as a leading lawyer in restructuring and insolvency, financial restructuring, banking and asset finance, and he was described as a "very strong banking and restructuring lawyer who is held in high esteem by both his clients and his competitors".

Chambers Asia Pacific 2024 ranks David as a leading lawyer for banking and finance and restructuring and insolvency. In a previous edition of Chambers Asia Pacific 2022 David was also ranked in the top tier of banking and finance lawyers and as a leading lawyer in restructuring and insolvency. Clients noted he "excels in client care and commerciality" and has a "good grasp on key lender concerns."

Cooper and Company financing arrangements​
Advising on all aspects of the group's financing arrangements, including security over a complex leasehold structure.​

Metro GlassTech debt restructuring
Acted for senior financiers and hedge funds on the debt restructure of Metropolitan Glass, which resulted in the senior lenders taking majority ownership of the group.

Vector European medium term note (MTN) programme
Acted for Vector on the establishment of its European MTN programme, the first programme established by a New Zealand electricity utility and the first programme established by a New Zealand issuer for some years.

CPPIB takeover offer for Auckland International Airport
Advised Canada Pension Plan Investment Board on the funding of its partial takeover offer for, and proposed amalgamation with, Auckland International Airport.

Debt and equity restructuring of MediaWorks
Advised Australian private equity firm, Ironbridge, as owner, on the debt and restructuring of MediaWorks which operates television and radio stations in New Zealand. The business was ultimately transferred into bank ownership.

Development of the Rotokawa and Nga Tamariki geothermal fields
Advised Tauhara North No.2 Trust on the development and subsequent refinance of the Rotokawa and Nga Tamariki geothermal fields, including the joint venture for the NZ$430 million, 140MW Nga Awa Purua geothermal power station.

SKYCITY Entertainment Group fixed-rate bonds
Advised SKYCITY on an offer of fixed-rate bonds and on its general financing requirements.

Debt and equity restructuring of Yellow Pages
Advised Yellow Pages Group on a debt and restructuring of the business, including a creditor compromise. This was one of the largest debt restructures undertaken in New Zealand.