Peter Somekh

Partner

Managing Director for the Middle East and Africa

Peter Somekh has a strong background in finance and restructuring.

— The Legal 500 EMEA 2021

Emailpeter.somekh@dlapiper.com

Call+971 (0)55 221 1904

Dubai

About

Areas of FocusCorporate Restructuring

Professional QualificationsSolicitor of the Senior Courts of England and Wales

Highlights

EXPERIENCE

Acting for the trustees of the KBBO Group in respect of an onshore restructuring of entities with debt in excess of USD4bn.
Acting for the trustees of the Phoenix group of companies in respect of a liquidation and asset recovery mandate with total debt in excess of USD6bn.
Acting for the directors of Wirecard Middle East in respect of a solvent winding-up being part of one of the biggest financial restructuring assignments post-Lehman.
Acting for Big Four appointed trustees in respect of a complex high value real estate matter referable to a very significant high profile family group necessitating an in-depth awareness of KSA legislation relating to ownership rights, litigation and real estate title matters. Successfully represented creditor interests through close collaboration with KSA counsel and stakeholders resulting in a substantial creditor return.
Acting in relation to the Zavvi Group of Companies in relation to its reorganisation.
Acting for various financial institutions based in Dubai in relation to debt asset swaps and other forms of asset transfers.
Acts for a significantly high profile local bank in relation to a strategic review of its entire distressed portfolio. We are now implementing the options identified across the entire portfolio range.
Acting in relation to the USD1.2bn restructuring of A'ayan Leasing & Investment Company KSCC being a transaction which involved the obtaining a Financial Stability Order and multiple debt to equity and debt to asset swaps.
Acting for International Investment Group KSCC in relation to its financial restructuring.
Acting for Wataniya Airways in relation to its wind down which involved detailed negotiations with aircraft leasing companies and regulatory bodies.
Acted for international financial institutions in relation to exposure to high profile Middle East entities.
Acting for Kuwait Finance Centre (Markaz) in relation to the restructuring of a Kuwaiti entity.
Acting for Kodak (Near East) Inc in relation to the Middle East aspects of its restructuring.
Advising on and drafting of new insolvency regulations for the UAE-based freezone. Our work involved an extensive benchmarking of comparative countries in addition to other UAE-based freezones, along with an on-the-ground analysis exercise to ensure the new laws fit within existing legal frameworks. The new DMCC regulations follow the introduction of the new UAE insolvency law in December 2017.
Advising on and drafting of insolvency regulations for the Ministry of Finance of the Islamic Republic of Afghanistan. Our work involved an extensive benchmarking exercise against a range of countries, both in sophisticated and developing markets, in addition to on-the-ground analysis to ensure the new laws worked within the frameworks of existing country laws.
Advising board of directors of Aerofarms AGX Ltd on ADGM entity in relation to their pre-insolvency obligations and the administrators in respect of subsequent administration.
Acting for Qatar Financial Centre in connection with drafting new insolvency law.
Acting for the liquidators of BPGIC Holdings Limited a Cayman entity and the directors of Brooge Energy Limited a NASDAQ listed entity.