Quinn Emanuel Urquhart & Sullivan has secured veteran restructuring and insolvency partner David Ereira in London from US rival Paul Hastings. 

Ereira has joined the 1,000-lawyer firm after eight years at Paul Hastings, having earlier been a partner at UK Magic Circle firms Freshfields Bruckhaus Deringer and Linklaters.  

His departure from Paul Hastings comes hard on the heels of its recruitment of William Needham last November from investment giant KKR to co-chair its European restructuring practice alongside fellow London partner Mei Lian.

Ereira has led the representation of debtors, creditors, investors and governments in some of the largest restructurings of the last few years and is noted by legal rankings guide Chambers for his expertise in handling cross-border transactions.  

He advised the administrators of US bank Lehman Brothers – the biggest bankruptcy in history – and over his 33-year career has worked on matters for many household names including McClaren, the Argyll Group and The Co-operative Bank.  

Previously chair of the UK’s Insolvency Service, for which he was awarded an OBE, Ereira worked alongside Quinn Emanuel on disputes arising out of the 2020 administration of UAE-based healthcare company NMC.  

“The restructuring markets in England and globally are at an inflection point,” Ereira said. “The combination of economic pressure, high interest rates and political uncertainty have made this a challenging time for businesses and investors.  

“Clients will require new and creative approaches from their lawyers combining restructuring with contentious expertise. I am very excited to have the opportunity to work with [London senior partner] Richard East and the Quinn Emanuel team to help meet this challenge for their clients.” 

John Quinn, Quinn Emanuel’s founder and chairman, commented: “David is an outstanding lawyer with decades of experience working on the biggest, most complex restructurings. We believe he will have a considerable impact on our London office which is in growth mode.” 

Ereira is the fourth partner to join Quinn Emanuel’s London office in the past year, following litigator Gemma Anderson’s move from Morrison & Foerster, arbitration specialist Melis Acuner joining from Cadwalader Wickersham & Taft and IP partner David Lancaster joining from Pinsent Masons. The firm now has more than 110 lawyers in London, including 30 partners.  

East commented: “David has unrivalled expertise in the restructuring and insolvency market and will be a great fit with our contentious restructuring practice. We can’t wait for him to get started.” 

Last week, Quinn Emanuel posted an eye-catching 47% increase in revenue for the 2023 financial year to £196.6m.

Other US firms have been strengthening their restructuring and insolvency teams in London over the past year as rising interest rates and tougher economic conditions increased the risk of companies running into financial difficulties.

Last month Willkie Farr & Gallagher secured partner Simon Baskerville from Latham & Watkins as co-chair of its European restructuring group. Earlier in the year Cleary Gottlieb Steen & Hamilton secured insolvency partners Solomon Noh and Alastair Goldrein in London from Dechert.