mobile menu icon
Travers Smith Logo

Peter Hughes

Wednesday, 18 September 2019

Peter joined Travers Smith in 2004 and is a partner in our Finance department.  He specialises in Restructuring & Insolvency and Derivatives & Structured Products.  He has extensive expertise in relation to funding, investment and restructuring solutions for pensions clients.

Peter also has considerable experience in acquisition finance and general banking matters.

Peter’s main practice areas include:

  • investment and structured products, and in particular on derivatives, collateral and credit support
  • bespoke transactions to hedge exposures (including insurance-wrapped longevity hedging)
  • funding structures
  • security arrangements
  • debt restructurings
  • financial restructuring
  • insolvency situations

Peter’s clients include:

  • private equity sponsors
  • investors
  • borrowers
  • directors
  • turnaround professionals and officeholders
  • financial institutions
  • corporates
  • boardroom members
  • pension schemes and pension trustees
  • investment funds

Examples of Peter’s work include:

  • providing advice to the Trustee of the Scottish & Newcastle Pension Plan and Heineken UK Limited in relation to the negotiation of key contractual terms in a £2.4 billion longevity insurance contract to reflect the Solvency II Directive
  • advising Vodafone Group Pension Trustee Limited on a c.£700m structured security arrangement including the provision of demand guarantees from credit insurers
  • advising a leading international investment bank on disputed claims in relation to notes valued at more than £300m under a number of linked collateralised default swap agreements
  • advising the administrators of Lehman Brothers International (Europe) in relation to a number of complex investment disputes
  • acting for a distressed AIM listed tech company on its financial restructuring
  • advising a distressed debt fund in the successful recovery of its loan investment from a group in restructuring
  • advising the trustees of the Willis Group Pension Scheme in relation to their employer funding commitments following the merger between Willis and Towers Watson
  • advising the Vodafone Group Pension Scheme on the transfer of assets under an insurance business transfer, governed by Part VII of the Financial Services and Markets Act 2000

Peter is an active member of R3, INSOL and the Financial Markets Law Committee working group on the EU Insolvency Regulation and is a member of the Association of Pension Lawyers.

In the last year, Peter recently took part in a panel discussion at the Fund Finance Association 2nd Annual Europe Fund Finance Symposium and spoke at the National Association of Pension Funds’ Investment Conference on the subject of longevity transactions.  Peter also recently co-authored a chapter on ‘Derivatives at the Fund Level’ for the first edition of Global Legal Insights- Fund Finance 2017.

The Legal 500 UK 2016 recommend Peter for his work in Corporate Restructuring & Insolvency and Derivatives & Structured Products.