Peter Hughes

Partner

Peter is a partner in our Finance Group, specialising in derivatives and structured products, and restructuring and insolvency. He represents a wide spectrum of clients.

Insolvency and restructuring expertise

Peter's practice has a particular focus on pension covenant issues. He specialises in high-profile insolvencies and restructurings and is widely recognised as a 'go to adviser' for the trustees of some of the largest pension schemes in the UK.

Investment and structured products expertise

On the investment side, Peter advises pension schemes, investment funds, corporates and financial institutions in relation to investment and structured products, and in particular on derivatives, collateral and credit support, bespoke transactions to hedge exposures (including insurance-wrapped longevity hedging), and funding structures.

Industry recognition

Peter is an active member of R3 and INSOL, both of which are associations for insolvency, restructuring, advisory, and turnaround professionals. He is a member of the Association of Pension Lawyers where he chairs the Finance and Security Sub-Committee.

Peter regularly speaks at conferences having previously participated in the Fund Finance Association's European Fund Finance Symposium, the National Association of Pension Funds’ Investments Conference and the Bulk Annuities and Longevity Swaps Member Interest Group. Peter is an annual contributor to Global Legal Insights - Fund Finance, co-authoring a chapter on Derivatives at the Fund Level.

Selected Deals

The Trustees of the Arcadia Pension Schemes in relation to their funding arrangements with the Arcadia Group.

Carpetright plc on its negotiations with the Group Pension Scheme and the Pension Protection Fund in respect of its CVA, agreeing a ground-breaking funding structure which is now used by the Pension Protection Fund as its standard funding agreement for CVA situations.

The Trustee of the Akzo Nobel (CPS) Pension Scheme on its funding base and ongoing covenant support during an intense period of potential corporate activity.

The Trustees of the UBM Pension Scheme on the takeover of UBM by Informa PLC.

The Trustee of the Scottish & Newcastle Pension Plan and Heineken UK Limited in relation to a £2.4 billion longevity insurance contract.

Vodafone Group Pension Trustee Limited on c.£1 billion structured security arrangements including the provision of demand guarantees from credit insurers.

A leading international investment bank on disputed claims in relation to notes valued at more than £300 million under a number of linked collateralised default swap agreements.

The Administrators of Lehman Brothers International (Europe) in relation to a number of complex investment disputes.

Peter Hughes has an excellent reputation in the pensions space and regularly handles restructuring-related work for pensions trustees.

Peter Hughes is a key partner in the buy-side practice

Clients praise the hard work and dedication of Peter Hughes and Jonathan Gilmour who show great attention to detail and have the ability to explain complex issues in a very clear way to the layperson.