Bio
David Bulley is the Hong Kong and Mainland China Managing Partner of Appleby and the Head of Private Equity, Public and Private M&A and Restructuring.
As a leader in his fields, David’s strategic advice on Cayman Islands, British Virgin Islands and Bermuda law is sought on high value and complex mandates across corporate, restructuring and litigation and in the last five years David has:
- completed in excess of US$170,000,000,000 of PE / M&A transactions, being named Cayman M&A Lawyer of the Year in each of those years and BVI M&A Lawyer of the Year in three of those years; and
- advised on restructuring and litigation mandates valued in excess of US$550,000,000,000.
On the Corporate side, David has extensive experience advising public and private companies and sponsors and investors on domestic and cross-border mergers and acquisitions, leveraged buyouts and other corporate actions including navigating takeover defenses implemented by offshore companies.
On the Restructuring side David represents both creditors and debtors on high value debt restructurings by way of Chapter 11 with offshore proceedings and by offshore schemes of arrangement as well as advising on liability management exercises, restructurings done through the appointment of restructuring officers and provisional liquidators and special situations.
David holds a BA and MA in Law from Cambridge University, has passed CFA Level 1, sits on the global opinions committee as well as other global management committees and has the distinction of being the only lawyer in Mainland China who has been admitted in the Cayman Islands.
Prior to moving offshore, David trained at Freshfields Bruckhaus Deringer in London before practicing at Kirkland & Ellis and Sullivan & Cromwell in London.
Bio
David Bulley is the Hong Kong and Mainland China Managing Partner of Appleby and the Head of Private Equity, Public and Private M&A and Restructuring.
As a leader in his fields, David’s strategic advice on Cayman Islands, British Virgin Islands and Bermuda law is sought on high value and complex mandates across corporate, restructuring and litigation and in the last five years David has:
- completed in excess of US$170,000,000,000 of PE / M&A transactions, being named Cayman M&A Lawyer of the Year in each of those years and BVI M&A Lawyer of the Year in three of those years; and
- advised on restructuring and litigation mandates valued in excess of US$550,000,000,000.
On the Corporate side, David has extensive experience advising public and private companies and sponsors and investors on domestic and cross-border mergers and acquisitions, leveraged buyouts and other corporate actions including navigating takeover defenses implemented by offshore companies.
On the Restructuring side David represents both creditors and debtors on high value debt restructurings by way of Chapter 11 with offshore proceedings and by offshore schemes of arrangement as well as advising on liability management exercises, restructurings done through the appointment of restructuring officers and provisional liquidators and special situations.
David holds a BA and MA in Law from Cambridge University, has passed CFA Level 1, sits on the global opinions committee as well as other global management committees and has the distinction of being the only lawyer in Mainland China who has been admitted in the Cayman Islands.
Prior to moving offshore, David trained at Freshfields Bruckhaus Deringer in London before practicing at Kirkland & Ellis and Sullivan & Cromwell in London.
Work Highlights
Restructuring*:
Debtor Representations
China Real Estate
- China Fortune Land Development Co., Ltd. – lead partner advising the Company on all offshore aspects of the successful debt restructuring including novel solutions to sanctions and debt for equity issues.
- Fantasia Holdings Group Company Limited – lead partner advising the Company on all offshore aspects of its ongoing restructuring of offshore debt liabilities.
- Shimao Group Holdings Ltd. – lead partner advising the Company on all offshore aspects of its ongoing restructuring of offshore debt liabilities.
- Shinsun Holdings (Group) Co., Ltd. – lead partner advising the Company on successfully defending and dismissing a winding-up petition in the Cayman Islands and in doing so created new precedent in relation to the enforcement of US law governed bonds by ultimate account holders, which has now been followed in Hong Kong. Continuing to advise the Company on all offshore aspects of its ongoing restructuring of offshore debt liabilities.
- Advising on five other large non-public debt restructuring mandates in the China real estate space.
Offshore Oil and Gas
- CHC Helicopter Group – advising on restructuring by way of Chapter 11 and Cayman process.
- Pacific Drilling – advising on its 2018 restructuring by way of Chapter 11 and Cayman process.
- Pacific Drilling – lead partner advising on its 2020 restructuring by way of Chapter 11 and Cayman process.
- Whalsay Energy Limited – advising on its restructuring and its listing on the Cayman Stock Exchange.
Creditor Representations
- Hercules Offshore – The Ad Hoc Group of Creditors on the first restructuring of Hercules Offshore Inc. by way of US Chapter 11 and offshore process.
- Noble – An Ad Hoc Group of Noteholders of Noble on its restructuring by way of Chapter 11.
- Ocean Rig – The Ad Hoc Group of Creditors of Ocean Rig UDW. Inc. on a financial restructuring by way of multiple Cayman Schemes of Arrangement and Chapter 15.
- Scottish Re – The Official Committee of Unsecured Creditors on the Chapter 11 of Scottish Re.
- Seadrill – The Ad Hoc Group of Senior Secured Creditors of Seadrill on restructuring by US and Bermuda process.
- Valaris – The Ad Hoc Group of Creditors of Valaris plc on its restructuring by way of Chapter 11 and offshore process.
- Virgin Atlantic – A major creditor on the restructuring of Virgin Atlantic.
*A more complete list of experience is available upon request – representations set out above only includes offshore representations and not deals completed whilst at Kirkland & Ellis or Sullivan & Cromwell
PE / M&A**:
- Ascendent Capital Partners on multiple acquisitions and exits.
- Benchmark Asia on its acquisition of assets out of the liquidation of Pacific Harbour.
- Celadon Partners on multiple acquisitions and exits.
- China Automation Group on its privatization by way of a Cayman scheme of arrangement.
- China Post on its USD128m investment in ULE Holdings.
- China UnionPay in connection with its bid for Chinese tech assets.
- MUFG on its acquisition of an interest in Grab Holdings Inc. for USD706m.
- Sequoia Capital on multiple acquisitions.
- SoftBank Group Corp. on multiple acquisitions and exits.
- SoftBank Vision Fund on multiple acquisitions.
- Various – Multiple privatisation transactions with an aggregate deal value in excess of USD20bn.
**A more complete list of experience is available upon request – representations set out above only includes Asia based transactions and not those completed for US / European clients
SPAC / DE-SPAC REPRESENTATIONS***:
US SPACS
- Artisan Acquisition Corp. – US$300m SPAC IPO – sponsored by C-Ventures and Adrian Cheng.
- Black Spade Acquisition Co – US$150m SPAC IPO – sponsored by Black Spade Capital and Lawrence Ho.
- Gobi Acquisition Corporation – US$250m SPAC IPO – sponsored by PAG.
- Silver Crest Acquisition Corporation – US$300m SPAC IPO – sponsored by affiliates of Ascendent Capital Partners.
Hong Kong SPACs
- Various – Multiple ongoing Hong Kong SPAC IPO processes following the implementation of the Hong Kong SPAC regime under Chapter 18B of the Hong Kong listing rules.
De-SPACs
- Artisan Acquisition Corp. ongoing de-SPAC transaction with Prenetics.
- Silver Crest Acquisition Corporation ongoing de-SPAC transaction with Tim Hortons China.
***A more complete list of experience is available upon request subject to confidentiality for multiple ongoing de-SPACs
Restructuring*:
Debtor Representations
China Real Estate
- China Fortune Land Development Co., Ltd. – lead partner advising the Company on all offshore aspects of the successful debt restructuring including novel solutions to sanctions and debt for equity issues.
- Fantasia Holdings Group Company Limited – lead partner advising the Company on all offshore aspects of its ongoing restructuring of offshore debt liabilities.
- Shimao Group Holdings Ltd. – lead partner advising the Company on all offshore aspects of its ongoing restructuring of offshore debt liabilities.
- Shinsun Holdings (Group) Co., Ltd. – lead partner advising the Company on successfully defending and dismissing a winding-up petition in the Cayman Islands and in doing so created new precedent in relation to the enforcement of US law governed bonds by ultimate account holders, which has now been followed in Hong Kong. Continuing to advise the Company on all offshore aspects of its ongoing restructuring of offshore debt liabilities.
- Advising on five other large non-public debt restructuring mandates in the China real estate space.
Offshore Oil and Gas
- CHC Helicopter Group – advising on restructuring by way of Chapter 11 and Cayman process.
- Pacific Drilling – advising on its 2018 restructuring by way of Chapter 11 and Cayman process.
- Pacific Drilling – lead partner advising on its 2020 restructuring by way of Chapter 11 and Cayman process.
- Whalsay Energy Limited – advising on its restructuring and its listing on the Cayman Stock Exchange.
Creditor Representations
- Hercules Offshore – The Ad Hoc Group of Creditors on the first restructuring of Hercules Offshore Inc. by way of US Chapter 11 and offshore process.
- Noble – An Ad Hoc Group of Noteholders of Noble on its restructuring by way of Chapter 11.
- Ocean Rig – The Ad Hoc Group of Creditors of Ocean Rig UDW. Inc. on a financial restructuring by way of multiple Cayman Schemes of Arrangement and Chapter 15.
- Scottish Re – The Official Committee of Unsecured Creditors on the Chapter 11 of Scottish Re.
- Seadrill – The Ad Hoc Group of Senior Secured Creditors of Seadrill on restructuring by US and Bermuda process.
- Valaris – The Ad Hoc Group of Creditors of Valaris plc on its restructuring by way of Chapter 11 and offshore process.
- Virgin Atlantic – A major creditor on the restructuring of Virgin Atlantic.
*A more complete list of experience is available upon request – representations set out above only includes offshore representations and not deals completed whilst at Kirkland & Ellis or Sullivan & Cromwell
PE / M&A**:
- Ascendent Capital Partners on multiple acquisitions and exits.
- Benchmark Asia on its acquisition of assets out of the liquidation of Pacific Harbour.
- Celadon Partners on multiple acquisitions and exits.
- China Automation Group on its privatization by way of a Cayman scheme of arrangement.
- China Post on its USD128m investment in ULE Holdings.
- China UnionPay in connection with its bid for Chinese tech assets.
- MUFG on its acquisition of an interest in Grab Holdings Inc. for USD706m.
- Sequoia Capital on multiple acquisitions.
- SoftBank Group Corp. on multiple acquisitions and exits.
- SoftBank Vision Fund on multiple acquisitions.
- Various – Multiple privatisation transactions with an aggregate deal value in excess of USD20bn.
**A more complete list of experience is available upon request – representations set out above only includes Asia based transactions and not those completed for US / European clients
SPAC / DE-SPAC REPRESENTATIONS***:
US SPACS
- Artisan Acquisition Corp. – US$300m SPAC IPO – sponsored by C-Ventures and Adrian Cheng.
- Black Spade Acquisition Co – US$150m SPAC IPO – sponsored by Black Spade Capital and Lawrence Ho.
- Gobi Acquisition Corporation – US$250m SPAC IPO – sponsored by PAG.
- Silver Crest Acquisition Corporation – US$300m SPAC IPO – sponsored by affiliates of Ascendent Capital Partners.
Hong Kong SPACs
- Various – Multiple ongoing Hong Kong SPAC IPO processes following the implementation of the Hong Kong SPAC regime under Chapter 18B of the Hong Kong listing rules.
De-SPACs
- Artisan Acquisition Corp. ongoing de-SPAC transaction with Prenetics.
- Silver Crest Acquisition Corporation ongoing de-SPAC transaction with Tim Hortons China.
***A more complete list of experience is available upon request subject to confidentiality for multiple ongoing de-SPACs
Recognition
David is recognised as:
- “Leading Individual “– Legal500 Asia Pacific Guide 2023
- Received notable recognition – Chambers and Partners Asia-Pacific Guide 2024
- “Highly Regarded : M&A; Restructuring “– IFLR1000 2022, 2023
Amongst other awards, David has been named as:
- “Top 50 Offshore Lawyers” – Asia Business Law Journal 2022 and 2024
- Mergers and Acquisitions Lawyer of the Year : Cayman Islands – Lawyer Monthly 2019, 2020, 2021 and 2022
- Corporate Finance Lawyer of the Year : Cayman Islands – Finance Monthly 2019, 2021 and 2023
- Most Trusted Corporate Restructuring Specialist : Cayman Islands – CV Magazine 2019
David has also been shortlisted for “Dealmaker of the Year” at ALB Hong Kong Law Awards 2023, with Appleby also shortlisted for “Offshore Law Firm of the Year”.
David is recognised as:
- “Leading Individual “– Legal500 Asia Pacific Guide 2023
- Received notable recognition – Chambers and Partners Asia-Pacific Guide 2024
- “Highly Regarded : M&A; Restructuring “– IFLR1000 2022, 2023
Amongst other awards, David has been named as:
- “Top 50 Offshore Lawyers” – Asia Business Law Journal 2022 and 2024
- Mergers and Acquisitions Lawyer of the Year : Cayman Islands – Lawyer Monthly 2019, 2020, 2021 and 2022
- Corporate Finance Lawyer of the Year : Cayman Islands – Finance Monthly 2019, 2021 and 2023
- Most Trusted Corporate Restructuring Specialist : Cayman Islands – CV Magazine 2019
David has also been shortlisted for “Dealmaker of the Year” at ALB Hong Kong Law Awards 2023, with Appleby also shortlisted for “Offshore Law Firm of the Year”.
Qualifications & Education
David is qualified in England & Wales, Cayman Islands and British Virgin Islands. He graduated from Cambridge University.
- University of Cambridge (England)
David is qualified in England & Wales, Cayman Islands and British Virgin Islands. He graduated from Cambridge University.
- University of Cambridge (England)