David Proudman Partner

Meet David

David is a leading insolvency lawyer with over 25 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 is a member of the legal committee of the former Corporations and Markets Advisory Committee and ARITA and INSOL International. He was also a member of the consultative group advising the Attorney General on Personal Property Security Reforms, 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.

Experience

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.

Ararat Prison PPP

Represented parties to the Ararat Prison PPP

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)

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).

Recognition

Ranked as a leading lawyer in Restructuring/Insolvency
Chambers Asia-Pacific 2018
Recommended in Restructuring and Insolvency
Asia Pacific Legal 500, 2018
Named “Adelaide Lawyer of the Year” (as judged by his peers) for Insolvency & Re-organisation
Best Lawyers Australia, 2014
David Proudman has a "wealth of experience", and a "calm, approachable style"
Asia Pacific Legal 500
David Proudman is "a great practitioner" who is praised for his "deep knowledge of restructuring."
Chambers Asia-Pacific (client feedback)
Listed as a leading lawyer in Insolvency and Reorganisation Law.
Best Lawyers Australia, 2014

Career & qualifications

Qualifications

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

Memberships

  • Legal committee of the former Corporate and Markets Advisory Committee
  • Member of ARITA and INSOL International
  • Past National and State Chair of the Insolvency & Reconstruction Committee of the Law Council of Australia

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...

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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.

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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...

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News

Presentations

ARITA

  • 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.