Clifford Chance
David Towers is an experienced restructuring partner, specialising in complex and cross-border restructuring mandates across all debt products. He regularly advises on high-profile matters throughout the investment spectrum.
Alongside having a busy UK and European practice, David also focusses on large restructuring matters in Southern Africa, and is our Southern Africa Practice Leader both for restructuring and more generally. He is also a trustee of the Sparkle Foundation, a charity operating in Malawi, and is a member of our Inclusion Committee.
- a consortium of lenders to Eskom regarding its ongoing restructuring
- secured creditors of Nordstream on its proposed restructuring
- an international satellite group on its restructuring and consensual change of ownership to its lenders
- a group of lenders to the Hurtigruten group on its balance sheet restructuring
- major creditors to the Signa Group in respect of asset recovery strategies
- the lenders to a UK listed consumer services group on its financing arrangements
- creditors on the sale of a major UK logistics network
- the Hemisphere property group on its restructuring
- an ad hoc group of noteholders on the restructuring of Intu PLC, the UK’s largest shopping centre group
- the RBL lenders to Tullow Oil plc on its successful refinancing
- Codere SA in relation to its second scheme of arrangement of NY law-governed notes, including the successful defence of a challenge to the scheme on class and fairness grounds
- the lenders to De La Rue PLC on its financing arrangements
- Thomas Cook Group plc's (TCG) largest shareholder on its options in the lead-up to TCG's insolvency, including its attempted purchase of TCG's tour operator business
- a syndicate of lenders in respect of their exposure to the Steinhoff Group
- the senior lenders to Edcon, Southern Africa's largest non-food retailer, in relation to its financial restructuring
- the senior lenders to Carillion PLC on its attempted restructuring and subsequent insolvency
- the lenders to the Innovation Group on its restructuring by way of debt-for-equity swap and subsequent sale
- the lenders to the Kalle Group on its financing arrangements
- Cell C, the South African mobile network, on its proposed financial restructuring
- the senior lenders to the International Bank of Azerbaijan on its debt restructuring
News and client work
Contact details
- Clifford Chance, London
- +442070068036
- Email me
- Practice area Global Financial Markets, Restructuring & insolvency
- Sector Real estate, Banks, Funds & investment management
Career and qualifications
- Sheffield University (LLB) 2002
- Joined Clifford Chance 2003
- Admitted as a solicitor in England & Wales 2005
- Partner since 2014
Professional bodies
- Insolvency Lawyers' Association
- R3
Awards and citations
- Ranked in Band 3
Chambers UK 2024: Corporate Restructuring and Insolvency (Tier 1) (6 years ranked) - “David has the ability to navigate complex intercreditor and restructuring matters in a straightforward and no-nonsense way. He is also highly responsive and great to work with.”
- "David is extremely knowledgeable and very commercial. He also has an excellent manner with clients, where he is both reassuring and sensible."
- "David is very good at what he does, he stands out as one to watch."
- Leading Individual – Legal500 Lawyer Ranking
- "Clifford Chance’s true sweet-spot lies in its ability to provide multi-disciplinary teams across offices on big-ticket international restructurings. Lender-led creditor work remains a core focus, an area that David Towers continues to excel on behalf of commercial banks and development finance institutions, as well as alternative lenders."