David Proudman Consultant

David is a leading insolvency lawyer specialising in workouts, recovery and reconstructions.

David has practised in the insolvency space almost exclusively for over 30 years.

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).

His expertise covers all elements of insolvency and reconstruction related work, including:

  • Representing all types of insolvency appointees.
  • Representing borrowers in all forms of commercial restructuring and financial workouts whether through voluntary administration (or other insolvency appointments), Part 5.1 Schemes, Members Voluntary Liquidation or informal arrangements.
  • Representing financial institutions in contentious (or potentially contentious) matters against other financial institutions.
  • Extensive dispute resolution experience in the insolvency industry.
  • Closely working with insolvency practitioners, commercial advisors, private equity and funders to complete viable and sustainable restructures or maximise opportunities for recoveries (as the case may be).


Insolvency & Reconstruction

Centro Group

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.

Lehman Brothers insolvency

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

Numerous engagements arising from liquidations and receiverships including: Autodom Group AWA Ltd Borders/Angus & Robertson Harris Scarfe Ltd Rivercity/Clem 7 Tunnel One.Tel (Special Purpose Liquidator)

Ararat Prison PPP

Represented parties to the Ararat Prison PPP.

Managed Investment Schemes

Restructuring of managed investment schemes

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 Gunns Ltd Great Southern Ltd MFS Willmott Forests Ltd.

Litigation Funding

Extensive litigation funding experience

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).


Career & qualifications


  • Bachelor of Laws, University of Adelaide
  • Bachelor of Economics, University of Adelaide


  • Australian Restructuring Insolvency and Turnaround Association
  • International Association of Restructuring, Insolvency & Bankruptcy Professionals
  • Turnaround Management Association

Insights Read more insight

Linc Energy – High Court refuses special leave to Qld State Government

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...

First hurdle cleared for safe harbour and related laws

Members of the Senate have temporarily put aside considerations of postal votes, plebiscites and dual citizens to approve the safe harbour and related laws.

Linc Energy (In Liq): Liquidators obliged to prioritise State environmental laws despite disclaimer

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...





  • Presented at numerous National and State based ARITA (former IPA) Conferences on a variety of topics.
  • Involvement in the education tutorial processes for the ARITA Course in both South Australia and New South Wales for more than 15 years.
  • Presented across Australia on behalf of the ARITA on numerous topics and most recently in all mainland states on the PPSA.