Barry is an Of Counsel in the Restructuring & Bankruptcy, Corporate, and Insurance and Reinsurance practices in our DIFC office in Dubai.
On the Restructuring & Bankruptcy side, his experience includes:
- Acting on behalf of a distressed industrial conglomerate, which produces 10% of global polyethylene terephthalate output, to restructure debts involving 20 local and international creditor banks, with a value of approximately US$800 million.
- Advising an international conglomerate with offices throughout the GCC, as to the best options to facilitate a successful restructuring of their regional entities. Provided advice and support as to the ramifications of potential restructuring, M&A, and insolvency options – including bankruptcy – upon all company operations as well as the exposure of its officers, directors, shareholders and related parties, in view of its debt of over US$2.5 billion and a problematic shareholder structure.
- Negotiating a settlement on behalf of one of the Abu Dhabi’s leading Real Estate Investment Trusts in relation to the restructuring of its loans and obtaining facilities with another bank at favorable terms to the borrower, whilst removing all mortgages in their property portfolio, for a value of over US$100 million.
- Advising lenders in multiple ongoing enforcement proceedings against entities with debts in excess of US$1 billion each.
He advises insurance industry clients doing business in the UAE and GCC region on issues including incorporation, regulatory, employment, and claims management. He also represents international corporations in cross-border transactions, due diligence for pending acquisitions and general conduct of business in the UAE. Projects include:
- First-in-kind strategic investment by international insurer into UAE-based insurance company.
- Significant reduction in regulatory sanctions imposed against UAE-based insurers and TPAs.
- Provision of advice to international companies as to sanctions relating to Iran.
Prior to joining BSA, Barry gained extensive experience in the US insurance industry as both a litigator and claims counsel on behalf of liability insurers in the competitive New York market. He has defended insurers and their insured’s before New York Courts and Arbitration panels, in both third-party actions and coverage disputes. As a previous claims counsel for a high-volume New York liability insurer, he served as a coverage expert and maintained best practices within their busy Claims department.