Richard Obank is a corporate restructuring practitioner and has been active in this area for over 25 years and in a wide variety of sectors.

He regularly acts for management teams where there is a need to reconfigure the balance sheet and avoid a formal insolvency which is value destructive. He has deep experience of implementing restructuring and turnaround plans on a consensual basis with a multitude of stakeholders including senior and junior lenders, bondholders, private equity holders, pension fund trustees, employees and regulators (such as the competition authorities and the Pension Protection Fund).

Richard's focus is on acting for corporates, whether public or private, where there is a need to implement a debt or capital restructuring, very often in financially distressed circumstances. He is used to leading multi-disciplinary teams of lawyers drawn from the national and international practice and in responding to the demands of management where there is an urgent need to manage stakeholders' expectations and restore confidence. Richard is adept at working with interim turnaround managers, restructuring accountants and chief restructuring officers in this scenario. Richard is an accredited member of the Institute for Turnaround.

Richard also has extensive knowledge of insolvency law and practice and is a qualified insolvency practitioner (non-appointment taking). Richard is a Fellow of R3, the leading trade body of business recovery professionals. Apart from acting for corporates, Richard regularly works alongside the leading firms of accountants in the UK on complex, high profile restructuring assignments. He has successfully completed a high volume of distressed M&A disposals/acquisitions and been intimately involved in the sale or auction process as well as advising management on the selection of buyers based on an analysis of which bidding party is the most appropriate in the circumstances.

More recently, Richard has developed an expertise acting for various funds and alternative credit providers looking to invest in distressed situations whether on a portfolio basis or on an individual business and asset basis. In appropriate circumstances, this can involve the use of a pre-packaged administration and Richard is highly skilled and experienced in dealing with acquisition structures in this space. Richard also is used to dealing with post-transaction restructuring and refinancing in these situations. 

Richard has a track record of handling restructurings and advising clients on insolvencies in a diverse range of sectors including mining and minerals, oil and gas, hotel and leisure, manufacturing, healthcare (NHS Foundation Trusts and nursing homes) and football. Richard's profile is national and he has been recognised for his achievements for clients, along with his colleagues and team, at a number of industry awards. For example, in 2012, transactions worked on by Richard contributed to DLA Piper being voted as Insolvency Law Firm of the Year at the Insolvency and Rescue Awards. Richard and the team has also been highly commended by the Institute for Turnaround in 2011 and 2012 as Turnaround Legal Adviser.

Richard was appointed as Leeds Office Location Head of Restructuring on 1 May 2014.