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Richard Hodgson

Partner, London

“I focus on complex, cross-border restructuring and insolvency matters, offering considerable technical expertise, commercial perspective and strategic advice to help clients achieve practical outcomes in the most challenging business environments.”

Overview

Professional experience

Education

Overview

Richard specialises in complex, cross-border restructuring and insolvency matters, having worked in the field for over 16 years, with a particular focus on representing insolvency officeholders, creditors, corporate debtors, directors and other stakeholders, including on contingency planning. Richard’s most recent experience has spanned a wealth of sectors, including the financial services / financial institutions, consumer, retail, manufacturing and oil and gas sectors. He has particular expertise in distressed M&A acting for both private equity and trade purchasers and insolvency practitioners as sellers. 

Richard also advises a number of financial institution clients, regulators and other stakeholders on matters relating to bank financial restructuring, bank resolution/failure, compliance with BRRD and related matters.

Richard was part of the original Linklaters team that led on the Lehman Brothers collapse in 2008 and continues to act for the administrators of LBIE.
 
Work highlights

Richard has led on, or been a key adviser in, a number of significant and complex cross-border restructuring and insolvency matters. Highlights of his experience include advising:  

  • a confidential engagement for a national regulator regarding resolution action (including the use of a bail-in power) in respect of a systemically important financial institution
  • HSBC and UBS on the Co-operative Bank’s recapitalisation plan to generate £1.5bn of Common Equity Tier 1 for the Bank to meet the PRA’s capital requirement
  • Candy Group in connection with the restructuring of its UK subsidiary, Hoover Limited, and its pension scheme, including use of a regulated apportionment arrangement 
  • the senior lenders to Afren, the London-listed oil exploration and production group
  • Vodafone on its acquisition of a significant part of the former Phones4U business from its administrators
  • the joint special liquidators of Anglo Irish Bank plc in respect of the bank’s special liquidation and c.€25 bn loan portfolio disposal
  • Deloitte as administrators of the HMV Group, including trading the business and its subsequent sale
  • PwC as administrators of the GAME Group, including trading the business and its subsequent sale
  • the bankruptcy administrator of Bankas Snoras, formerly the third largest bank in Lithuania
  • the parent retail group of the La Senza UK business in the build-up to, and aftermath of, its insolvency
  • Home Retail Group as purchaser of certain parts of the Habitat UK business under a pre-packaged transaction
  • the U.S. parent company on the administration of Blockbuster
  • PricewaterhouseCoopers (PwC) as administrators of Lehman Brothers International (Europe) and all other Lehman entities in administration, the largest and most complex insolvency in history 
  • various financial institution clients on matters relating to BRRD, the UK Banking Act 2009 and bank resolution generally
     

     

Professional experience

Richard is active in R3, the Association of Business Recovery Professionals, sits on its Education and Courses Committee and chairs the annual R3 Complex Restructuring Course.

Richard is a frequent speaker at seminars and conferences, speaking on issues such as bank resolution and recovery. He also contributes regularly to industry publications.

Richard is also the co-author of Insolvency Bitesize, a regular Linklaters newsletter which is intended to update clients and others on legal and market developments related to insolvency.

Richard is executive sponsor of the firm’s LGB&T Network and actively supports the firm's diversity and inclusion activities 

Richard is a governor of Rotherfield Primary School, Islington, London, and is co-chair of the school’s revenue and resources committee.
 

Education

Richard studied law at the London School of Economics and Political Science.