David is a leading insolvency lawyer with over 35 years’ experience specialising in workouts, recovery and reconstructions.
He advises on all elements of insolvency and reconstruction including representing insolvency appointees and borrowers, restructuring of managed investment schemes and PPP’s, dispute resolution, and working closely with insolvency practitioners and funders to maximise opportunities for recoveries. David’s clients include domestic and foreign insolvency practitioners, ASX listed entities, large private or unlisted companies and trusts, litigation funders and Australian and foreign banks and financial institutions.
David was a member of the legal committee of the Corporate and Markets Advisory Committee (until disbanded in 2014), a member of the consultative group advising the Attorney General on Personal Property Security Reforms (and prior to that the Insolvency Law Advisory Group established by the Commonwealth Treasury Department addressing the significant reforms of 2007), and past National and State Chair of the Insolvency & Reconstruction Committee (of the Law Council of Australia).
David is recognised as a leading lawyer in Restructuring & Insolvency by both Chambers Asia-Pacific and Best Lawyers Australia. His expertise covers all elements of insolvency and reconstruction related work, including:
Advised two of the principal ASX listed funds within the Centro Group in relation to the proposed triple staple aggregation, and restructure of internal and external debt of approximately $5 billion.
Acted for Australian investors in structured products issued by the Lehman Brothers Group in the Australian liquidation and a number of global actions including proceedings in the UK and US for the recovery of over $250 million of investment funds.
Numerous engagements arising from liquidations and receiverships including:
Borders/Angus & Robertson
Harris Scarfe Ltd
Rivercity/Clem 7 Tunnel
One.Tel (Special Purpose Liquidator)
Represented parties to the Ararat Prison PPP.
David has acted on the restructuring of managed investment schemes, as well as representing both bidders and insolvency appointees in connection with the sale of MIS assets, and pursuing disputed claims. Scheme related engagements have included:
Forrest Enterprise Australia Ltd and FEA Plantations Ltd
Great Southern Ltd MFS Willmott Forests Ltd.
David has extensive experience in litigation funding acting for litigation funders and recipients of litigation funding. That experience extends to all aspects of the structuring, negotiating, undertaking due diligence and documenting litigation funding arrangements on behalf of the funder and prosecuting litigation claims on behalf of the recipients of funding (in both an insolvent and solvent context).
Ranked as a leading restructuring/insolvency lawyer
Recognised as a key lawyer in restructuring and insolvency
Recommended leading insolvency & restructuring lawyer New South Wales
Recognised in insolvency and reorganisation law
David Proudman is a "commercially and strategically savvy" practitioner, who has "seen a lot of things before and gives good, practical legal advice"
Recommended in restructuring and insolvency
David Proudman, is commended for his “understanding of complex issues” and his “high-quality advice”
Named lawyer of the year for insolvency & reorganisation law
David Proudman has a "wealth of experience", and a "calm, approachable style"
David Proudman is "a great practitioner" who is praised for his "deep knowledge of restructuring"
The High Court has refused to grant the Queensland State Government (Qld Government) special leave to appeal the Queensland Court of Appeal’s March 2018 decision in favour of the liquidators of...
Members of the Senate have temporarily put aside considerations of postal votes, plebiscites and dual citizens to approve the safe harbour and related laws.
The decision of Jackson J has wide-ranging consequences for the insolvency industry, as the outcome effectively relegates (at least in QLD) liquidator remuneration, employee entitlements and all...