Global Co-Chair, Restructuring
Peter Somekh has a market-leading reputation for finance and restructuring advice and is highly regarded for his work in the UAE and the wider GCC.
Peter routinely acts for the leading firms of insolvency practitioners, clearing banks and other financial institutions. He is particularly recognised for his ability to combine strong technical expertise with a very practical approach.
Peter recently acted for the joint administrators of the UK parent of one of the largest private healthcare companies in the UAE on the restructuring of approximately USD6.6 billion of debt. He also recently advised a major Dubai Bank in relation to a wide range of issues associated with its distressed loan portfolio, and advised the joint liquidators of one of the world’s largest commodities traders in relation to a debt burden in excess of USD1 billion.
Outside of the office, Peter enjoys spending time with family and has an interest in classic cars, some of which work. Peter is motivated by new challenges and enjoys finding innovative solutions to clients’ issues.
- Acting for the joint administrators of the UK parent of one of the largest private healthcare companies in the UAE on the restructuring of approximately USD6.6 billion of debt
- Advising a major Dubai Bank in relation to a wide range of issues associated with its distressed loan portfolio, including issues arising from lending and security packages to a number of developer clients
- Advising the joint liquidators of one of the world’s largest commodities traders on a debt burden in excess of USD1 billion
- Advising on the UAE aspects of a high profile financial fraud based in Germany
- Advising various financial institutions based in Dubai in relation to debt asset swaps and other forms of asset transfers
- Advising in relation to the USD1.2 billion restructuring of A'ayan Leasing & Investment Company KSCC, a transaction which involved obtaining a Financial Stability Order and multiple debt to equity and debt to asset swaps
- BA Economics and Economic History, Liverpool
Awards and recognitions
- Notable practitioner, Restructuring/Insolvency, Global: Multi-Jurisdictional, Chambers Global 2022
- Recommended lawyer, Banking and Finance, United Arab Emirates, The Legal 500 EMEA 2022
- DLA Piper named International Law Firm of the Year, African Legal Awards 2020-21
- DLA Piper Africa ranked Band 1 in the Leading Regional Law Firm Networks category, Chambers Global 2021
- DLA Piper named Energy & Infrastructure Team of the Year, Middle East Legal Awards 2020, hosted by Legal Week
Publications and media
- It's the Future: DLA Piper's New Regional Head On Why the Firm is Building in Africa, Law.com, 11 February 2021