Bankruptcy & Corporate Restructuring


Richard Obank acts for corporates, private equity investors, funds and financial institutions in corporate restructuring and insolvency matters. He regularly advises turnaround professionals, chief restructuring officers, and accountants and is highly familiar dealing with and advising on UK insolvency processes, contingency planning and options analysis. Richard has extensive experience acting for boards of directors in financially distressed situations.

Richard advises regularly on distressed M&A transactions, debt and capital restructurings and work outs, often involving significant cross-border issues.

Richard advises on high profile and complex acquisitions, disposals, reorganisations, company voluntary arrangements and schemes of arrangement across a broad range of sectors including retail, construction, manufacturing, automotive, football clubs, casual dining, hotels and leisure, and mining.

Richard has hands-on experience as a board director and charity trustee in debt restructuring scenarios and overseeing operational turnarounds.



Acting on behalf of the administrators of various professional football clubs in England and Scotland

Acting for senior secured lenders on the refinancing and restructuring of the UK’s mining industry 

Acting for the administrators of numerous high street fashion retailers in the UK

Acting for senior lenders on the restructuring and pre-packaged sale of an international drilling group in the oil and gas sector operating in 22 jurisdictions 

Acting for a listed company in the automotive components sector on its debt and equity reorganisation, pension scheme restructuring and disposal of US subsidiary 

Acting on various acquisitions, structured disposals and portfolio reorganisations for private equity investors 

Acting on the restructuring of a leading UK hotel and leisure group and subsequent solvent liquidation following a successful sale to private equity investors

Acting for a national probation and rehabilitation services provider and solvent sale to a private equity investor involving the UK government

Acting for the administrators on the pre-packaged sale of Europe’s largest printing group

Reorganisation and pre-packaged sale to private equity sponsor of a leading bathroom appliances group with operations across the UK, Canada and the US

Acting for a private equity investor on the solvent liquidation of a leading drilling technology business in Scotland

Acting on the debt restructuring and turnaround of a leading UK producer of static modular homes 

Acting on the solvent liquidation of a leading UK house builder following a successful sale of the group to a private equity investor

Acting for a leading UK wholesale and retail grocery business on its operational turnaround and refinancing followed by a scheme of arrangement to effect a sale to new owners 

Acting for the administrators of a UK discount retail operation with over 350 stores 

Acting for the administrators of Europe’s largest suppliers of merchandise and equipment in the golf sector 

Acting for a PE sponsored listed company in its bid for a soft furnishings retailer 

Acting for the administrators of a leading womenswear fashion brand and combining this with a chapter 11 filing to liquidate stock in the US 

Acting for the administrators of a global fast fashion brand and combining this with a chapter 15 filing to liquidate stock in the US


College of Law - Guildford, 1987
University of Manchester, 1986

Bar Admissions

England & Wales
Professional Affiliations
Solicitor of the Senior Courts of England’s and Wales (1989 qualified)
Licensed insolvency practitioner (non-appointment taker) authorised by The Institute of Chartered Accountants in England and Wales
Board member of the Institute for Turnaround
Awards and Honors
Richard is ranked by Best Lawyers UK 2021 for Insolvency and Restructuring Law
Richard is ranked in Band 1 in Chambers & Partners UK 2020 for Restructuring & Insolvency, where he is described as a 'Superb lawyer'
Richard is ranked as a Leading Individual in Legal 500’s 2020 table for Restructuring & Insolvency, where he is described as 'methodical and super-efficient'
In January 2019, Richard made it into The Lawyer magazine’s Hot 100 list. This prestigious list, according to The Lawyer, comprises “the most daring, innovative and creative lawyers in the UK”. Richard’s work in the retail sector led to him being named as one of the UK’s top deal makers. The Lawyer commented at the time that Richard “has carved out a name for himself in this area, working with boards of directors to save businesses from going under”
In October 2019, Richard won Partner of the Year at the Yorkshire Legal Awards for his work in the restructuring arena and contribution to charitable causes, described as “a partner at the top of his game”
In November 2019, Richard won Corporate Restructuring Lawyer of the Year at the Turnaround, Restructuring and Insolvency (TRI) Awards in London for his work in the retail sector