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Adam Banks

Partner

Adam has expertise covering distressed restructurings, bankruptcy related mandates and origination financings. He is based in Dubai from where he advises on situations across the wider Middle-East region.

Adam’s restructuring practice includes advising debtors, creditors (and creditors' committees), insolvency practitioners and other stakeholders in distressed situations (including some of the largest and most prominent restructurings in the Middle-East).

Adam also regularly advises in relation to origination financings where his clients include corporate debtors, sponsors, arrangers and financiers in a range of sectors including real estate, education and hospitality and in relation to a range of financing structures (both conventional and Shari'ah compliant).

Experience

Representative matters

Arabtec Holding PJSC (a Dubai listed construction company) in relation to its group-wide insolvency issues and formal bankruptcy proceedings in the UAE (the first large scale formal bankruptcy process in the UAE (onshore)).

The co-ordinating committee of creditors in relation to the court-controlled restructuring of Emirates Hospitals Group (the first large scale restructuring plan to be sanctioned under the onshore UAE Bankruptcy Law).

Abraaj Holdings and (subsequently) the liquidators of Abraaj Holdings in relation to its liquidation.

A global financial institution as Restructuring Agent in respect of the second restructuring of Dubai International Capital.

The steering committee of creditors in relation to the restructuring of Ahmed Hamed Algosaibi & Brothers (AHAB).

Published Work

  • “Priority financing improves Abu Dhabi insolvency law” – MEED (Middle-East Business Intelligence) – 10 August 2020
  • “Criteria published for registering as a bankruptcy expert in UAE” – 5 May 2021

Leadership Positions And Professional Affiliations

  • Member of The Solicitors Regulation Authority Member of INSOL International
Recognition
He's sensible, easy to deal with and I'm really pleased whenever he's on the other side of the table
CHAMBERS GLOBAL UAE 2024, (RESTRUCTURING/INSOLVENCY)
I really think he's a star of tomorrow
CHAMBERS GLOBAL UAE 2024, (RESTRUCTURING/INSOLVENCY)

Awards

  • Recognised as a “Rising Star” by IFLR Middle-East.

Qualifications

Admissions

Admitted as solicitor, England and Wales, September 2012

Academic

Legal Practitioners Course (LPC), BPP Law School, London, 2008-2009
Bachelor of Laws (LLB), The London School of Economics and Political Science (LSE), 2004 – 2007
Dubai
Allen Overy Shearman Sterling LLP (practising in the Emirate of Dubai as “Allen & Overy RLLP” pending the registration completion of the new name with the relevant UAE local authorities) is a limited liability partnership registered in England and Wales with registered number OC306763.
Disclaimer
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.