David McPherson

Consultant, Auckland

Contact

+64 9 916 8988 +64 21 621 623 david.mcpherson@bellgully.com

Expertise

David is a senior banking lawyer with particular expertise in acquisition finance, asset finance, insolvency and debt restructurings.

David acts for domestic and offshore lenders and borrowers on all aspects of financing transactions.

David has acted on a range of acquisition financings, including the acquisition of TradeMe by Apax Capital, the acquisition of Ritchies Transport by KKR, the acquisition of MediaWorks by Ironbridge Capital, and the acquisition of Tegel and Griffins by Pacific Equity Partners. He also acted for Canada Pension Plan Investment Board on the funding of its partial takeover offer for, and proposed amalgamation with, Auckland International Airport.

David has also acted on a number of debt restructuring and insolvency transactions, including acting 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.

Qualifications

BA (History), LLB (Hons) University of Canterbury

1992 Admitted New Zealand

Professional experience

1994-1996 Freshfields LLP London, UK

^{The Legal 500 Asia Pacific 2025 Banking and finance, 'Hall of Fame'.}

^{The Legal 500 Asia Pacific 2025 Restructuring and insolvency, 'Leading lawyer'.}

^{Chambers Asia Pacific 2025 Banking and finance, 'Leading lawyer'.}

^{Chambers Asia Pacific 2025 Restructuring and insolvency, 'Leading lawyer'.}

^{IFLR 1000 2024 Banking and finance, 'Highly regarded'.}

^{IFLR 1000 2024 Restructuring and insolvency, 'Highly regarded'.}

^{Clients say he is a "trusted counsel for lenders and borrowers on high-value acquisition and debt restructurings." David is a "very strong banking and restructuring lawyer who is held in high esteem by both his clients and his competitors."}

Air New Zealand fixed-rate bonds and aircraft financing

Advised Air New Zealand on a successful offer of NZ$150m of fixed-rate bonds as well as on the financing of numerous aircraft, including via finance and operating leases. These financings have utilised Japanese, domestic and Ex-Im Bank funding structures.

Cooper and Company financing arrangements

Advised 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.