David Morris is a senior managing director at FTI Consulting. He is head of the UK restructuring practice and is based in London.
Mr Morris has over 25 years of experience advising stakeholders in complex, stressed and distressed financial restructurings. He has advised lenders, investors and executive management teams. He has experience in many sectors, including retail, energy, financial services, business services, industry and consumer products, TMT and construction across both listed public companies and private equity leveraged transactions. Mr Morris has also acted as an expert witness.
Mr Morris recently acted as restructuring adviser to the syndicate of 12 banks in relation to DIA, a Spanish-listed supermarket (the third-largest player in its domestic market with operations in Iberia and Latin America). The role included lead financial advisory, provision of financial, commercial and operational due diligence to support the restructuring of €2 billion of debt.
He also led the financial due diligence, valuation and review of Entity Priority Model to provide the common platform information on Steinhoff (a listed €20 billion global retail conglomerate) to support the restructuring of €10 billion of financial debt.
He also advised the US private placement note holders in the restructuring of Cattles PLC’s £2.6 billion debt facilities; and the senior and mezzanine lenders of a subprime retail financing business with a loan booked of around £100 million and net debt of £150 million, which resulted in the partial refinancing of the banking facilities. In addition, he took a lead advisory role supporting the CH11 trustee of MF Global in respect of the European and Asian business’ wind-downs, and accelerating the repatriation of cash from the group’s subsidiaries.