Priyanka Usmani
Biography
Priyanka Usmani is a partner in Baker McKenzie’s Banking and Finance Department based in London. Priyanka predominantly acts on restructuring and insolvency matters, often with multijurisdictional aspects, representing a range of clients both on the debtor and the creditor side, as well as insolvency officeholders. Priyanka regularly advises clients on the acquisition of distressed debt or assets, as well as the critical issues to address when structuring complex and bespoke credit solutions. Priyanka is accustomed to acting for the full spectrum of stakeholders in any stressed or distressed situation, including investors and directors of distressed (or potentially distressed) companies.
Since joining Baker McKenzie, Priyanka has spent six months on secondment with the workout team at Barclays. Priyanka has been recognised for restructuring and insolvency work by Chambers and Partners. Clients describe Priyanka as someone who is “user-friendly and gives clear advice … she does not overcomplicate issues and gets to the heart of the matter”. She is described by clients as someone whose "strength lies in her ability to deliver advice in a clear, no-nonsense and commercial way. She is down to earth, straightforward and builds relationships with clients and co-advisers quickly”.
Representative Legal Matters
- Advised an UHNW individual on their lending to a group of UK property development companies, including in relation to potential enforcement options.
- Advised a Nordic private credit fund on their exposure to an international group of property development companies, including in relation to potential restructuring solutions as well as enforcement options.
- Advised the senior secured noteholders in the restructuring, implemented through the filing of a Chapter 11 bankruptcy, of The Dolphin Company (Leisure Investments Holdings LLC), a multinational business with assets, subsidiaries, and litigation exposure spanning Mexico, the United States, Italy, and multiple Caribbean jurisdictions.
- Advised a pan-European credit fund in relation to a loan made as a B Lender (in an A/B whole loan structure) for the financing of UK student accommodation blocks in Manchester.
- Advised Marriott throughout on the implications of Sonder Inc.’s Chapter 11 bankruptcy filing.
- Advised Global Loan Agency Services (GLAS) (in various capacities as trustee and agent) on the consensual restructuring of Consolis Group, a European manufacturer of precast concrete elements that provides engineered and sustainable solutions for the building and utilities sectors, as between the Group’s sponsor, noteholders, revolving credit facility lenders and PIK lenders.
- Advised GLAS (in various capacities as trustee and agent) on the financial restructuring of Steinhoff International Holdings NV.
- Advised Standard Chartered Bank on an exposure in Ghana, including advice on potential enforcement action to be taken by the bank.
- Advised a Mauritian bank in connection with the complex recapitalisation and financial restructuring of Bayport Management Ltd.
- Advised eMed Healthcare, a US-based digital health company, on its acquisition of Babylon Health, a London-based multinational digital health firm, out of a UK pre-packaged administration insolvency process.
- Advised a data privacy software company on the various transaction options being considered by it in light of financial distress, and its key investors on the ultimate sale of the company's shares to an industry purchaser.
- Advising the board of a seller of baby and children focused brands with its products predominantly sold online, including on the various transaction options available to the company in light of its current financial position, including a potential sale either on a solvent basis or potentially through the use of an insolvency process.
- Advised Bacthera AG, a Swiss biotech association, on the purchase of a Spanish company and associated intellectual property out of the seller’s administration, a world leader in the development of live biotherapeutics.
- Advised Jain Irrigation on the merger of its international irrigation business with Temasek-owned Rivulis Pte Ltd. and its interaction with Jain’s finance documents.
- Advised Jain Irrigation on its multijurisdictional bank and bond debt restructuring of USD 200 million notes issued by its wholly owned Dutch subsidiary, implemented by way of an English law scheme of arrangement.
- Advised the joint administrators of Paperchase Products Limited (in administration) on a pre-packaged sale of certain parts of its business.
- Advised HSBC as securitisation lender on the pre-pack administration of Studio Retail Group plc involving the solvent sale of Studio Retail Limited to Frasers Group plc.
- Advised the Agent and Trustee in respect of the three Greensill Notes Programmes in relation to the impact of the administration of Greensill Capital (UK) Limited on the Greensill Notes Programme.
- Advised GLAS (in various capacities as trustee and agent) on the restructuring of PizzaExpress, implemented via the new UK Restructuring Plan.
Professional Associations and Memberships
- International Women's Insolvency and Restructuring Confederation - Steering Committee Member
- Insolvency Lawyers Association
- INSOL International and INSOL Europe
Admissions
- England & Wales (2009)
Education
- University of Sydney (Bachelor of Commerce)
- BPP University Law School (Graduate Diploma in Law and Legal Practice)