James Chesterman

  • Partner
  • Ejames.chesterman@lw.com
  • 99 Bishopsgate
  • London EC2M 3XF
  • United Kingdom
  • T +44.20.7710.1004
  •  
 

Profile

James Chesterman is a partner in the London office of Latham & Watkins and has more than 25 years’ experience in European restructuring and workouts, structured and special situations lending, and leveraged finance.

Mr. Chesterman’s clients include both borrowers and lenders across the restructuring, special situations/opportunities, and leveraged finance sectors. He has represented banks for many years in transactional and advisory matters and also represents private equity funds, credit funds, distressed funds, and corporates.

Experience

Mr. Chesterman’s representative transactions and other matters include advising:

  • A leading US bank in connection with the establishment of an account bank / escrow agency function
  • A leading UK bank in connection with issues regarding settlement risk in loan syndication
  • Various international and Middle Eastern banks in connection with the restructuring of Saad Trading
  • Credit Suisse as agent in the restructuring of CGG
  • HSBC, Rabobank, ING, Bank of America Merrill Lynch, and JP Morgan in connection with the £935 million term loan facilities and £75 million revolving credit facility enabling Yildiz Holding to acquire United Biscuits from private equity funds managed by Blackstone and PAI Partners and the refinancing of that facility
  • Certain bilateral bank lenders to LivaNova plc
  • Various banks and CLOs in relation to the restructuring of Prezzo
  • Lloyds Bank plc as arranger in the senior loan financing to Odeon Cinemas Limited
  • Unicredit, as senior and security agent, in the restructuring of Kloeckner Pentapast, a German plastics manufacturer
  • Barclays Bank PLC as security agent in the restructuring of Four Seasons Healthcare and the related rectification litigation
  • HSBC as agent in the €2.38 billion and US$300 million financing for Altan Technologies to acquire Aricent Technologies
  • Macquarie and Nomura in the £403.5 million financing for Jackpotjoy plc
  • Advising the lead arrangers in the €900 million refinancing of Italo – NTV
  • BNP Paribas, Credit Suisse, and JP Morgan in relation to the €35 million super senior revolving credit facility alongside a €350 million high yield bond offering for SGD Group SAS (Saint-Gobain Desjonquères Group)
  • JP Morgan, Goldman Sachs, and Lloyds Bank in relation to term loans and revolving credit facility, in connection with a €257 million bond offering, for Oberthur Technologies S.A., a manufacturer of magnetic stripe cards, smartcards, and related software and equipment
  • Schoeller Allibert on its an trade receivables financing arrangements in Poland, Switzerland, Germany, Sweden, France, and England
  • Venator Materials plc in its 2017 European ABL revolving credit financing with subsidiaries in the US, Canada, UK, Germany, France, and Spain
  • TA Associates in its financing in relation to its shareholding in Inspired
  • TA Associates in its acquisition financing of LIST SpA
  • Centurion Partners in its asset-based margin loan financing
  • Fine Art Fund in its lending activities secured on works of art
  • Tynagh Energy in its financing arrangements
  • Haymarket Financial on its loan facilities to Auto-Teile-Unger (A.T.U) Group, a German car parts retailer, on its emergence from restructuring in 2014
  • Savannah Petroleum in relation to the ongoing potential restructuring and acquisition of Seven Energy
  • Ashkenazy Acquisition Corporation in its distressed acquisition of Grosvenor house Hotel and its related financing arrangements
  • Pemberton in its financings to Dorea and Infinigate
  • Wilmington Trust as security agent in the restructuring of Niko Resources
  • Albacore in its fund financing facilities
  • Helios Investment Partners on debt aspects of various equity investments
  • Damovo Group SA, Schoeller Arca Systems, Deutz AG, and other debtors in connection with their debt restructurings
  • The institutional noteholders in the consensual debt restructurings of SMG plc, MyTravel plc, Hagemeyer, Candover Investments plc, and Deceuninck (amongst others)
  • Certain debt holders in the restructurings of Chorion, Vantico, Primacom, Cablecom, Inspired Gaming, BST Safety Textiles, Consolis, and Danaos Corporation
Thought Leadership
  • “The Continued Prevalence of European Covenant Lite,” ICLG Lending & Secured Finance 2020
  • “Credit Insights – Finding Liquidity Under Loan and Bond Documents” Latham & Watkins Article (April 2020)
  • “Credit Insights – What Borrowers and Lenders Should Know About MACs During COVID,” Latham & Watkins Article (March 2020)
  • “The Growth of European Covenant Lite,” Latham & Watkins Article (April 2017)
  • “The Continued Migration of US Covenant-Lite Structures into the European Leveraged Loan Market,” Latham & Watkins Article (April 2016)
  • “Covenant-lite Terms Continue to Develop in Europe,” Latham & Watkins Article (October 2015)
  • “Cross-Border Special Situations Lending Update,” Latham & Watkins Article (October 2015)
  • “New Opportunities in Cross-Border Special Situations Lending,” Latham & Watkins Client Alert (September 2015)
  • “US Trends Affecting the European Leveraged Loan Market,” Latham & Watkins Article (July 2015)
  • “Cross-border Leveraged Lending - US Intercreditor Agreements for Financings with European Elements,” Latham & Watkins Client Alert (May 2015)
  • “Key Issues in Leveraged Lending,” Latham & Watkins Article (December 2014)

Thought Leadership

  • Credit Insights – Delay or Disclose? Managing Default Risk From Qualified Audit Opinions in the COVID-19 Era -  May 12, 2020
  • The Continued Prevalence of European Covenant Lite -  April 09, 2020
  • Credit insights – Finding Liquidity Under Loan and Bond Documents -  April 06, 2020
  • Credit Insights – What Borrowers and Lenders Should Know About MACs During COVID -  March 25, 2020
  • The Continued Growth of European Covenant Lite -  April 10, 2019
  • The Growth of European Covenant Lite -  April 17, 2018
  • The Growth of European Covenant Lite -  April 21, 2017
  • The Continued Migration of US Covenant-Lite Structures into the European Leveraged Loan Market -  April 26, 2016
  • Covenant-lite Terms Continue to Develop in Europe -  October 09, 2015
  • Cross-Border Special Situations Lending Update -  October 06, 2015
  • New Opportunities in Cross-Border Special Situations Lending -  30 September 2015
"Straight shooter James Chesterman has a ton of experience, which helps him be open minded to new ideas"The Legal 500 UK 2021
Bar Qualification
  • England and Wales (Solicitor)
Education
  • BA (Law), Cambridge University, 1984
Practices
  • Banking
  • Israel Practice
  • Africa Practice
  • Restructuring & Special Situations
  • Private Equity Finance