Richard Bulmore
Richard Bulmore

Richard Bulmore

Partner

London

+44 20 7859 1036 | +44 7823 341 125
Richard.Bulmore@ashurstperkins.com

Introduction

Richard helps clients navigate corporate financial distress. He has particular experience in regulated sectors and cases with national strategic importance.

Richard advises on corporate distress, restructurings and insolvencies, often with a cross-border element.  He acts in all sectors for the full range of stakeholders, including borrowers and their directors, banks and funds and insolvency practitioners. 

He also advises government bodies and regulators on confidential matters responding to corporate distress or cases where there is a strategic case for intervention.  Clients note that he "excels in handling  high-profile cases with a significant UK strategic or national public importance" (Legal 500, 2026)

  • Advising the UK Government on various funding packages and contingency planning cases, including the following publicly disclosed cases:
    • British Steel: on its efforts to safeguard the future of steelmaking of British Steel in Scunthorpe, including through the passage of 'special measures' legislation, as well as the funding of British Steel in connection with its distress and liquidation in 2019 and its exit from liquidation and sale in 2021.
    • INEOS: on a £120 million funding package to protect the future of chemical production at INEOS' Grangemouth site.
    • CO2: on its support for the restart of Ensus' bioethanol plant to safeguard Co2 supplies during the 2026 conflict in the Middle East.
    • Tata Steel: on its agreement with Tata Steel to investment in Port Talbot by providing a funding package of up to £500 million.
  • National interest case insolvencies: including advising the Official Receiver and special managers in the liquidation of Thomas Cook Group, and in relation to matters in the liquidation of Carillion.
  • Financial services insolvency: including the special administrators of numerous investment banks under the investment bank special administration regime, as well as a number of other distressed or insolvent financial services groups.
  • Bank of England on various confidential matters, including concerning the insolvency or recovery and resolution of international or domestic financial institutions.
  • FCA on its successful court opposition to Amigo’s scheme of arrangement (Restructuring Team of the Year 2021) and in relation to other schemes of arrangement and restructurings.
  • A global asset manager in relation to its rescue financing for Virgin Atlantic as part of the restructuring of the airline - the first use of the new Part 26A restructuring plan in the restructuring market (2022).
  • Advising companies or their directors on restructuring matters, including in relation to Cineworld Group (2022), Ince Group, Premier Oil, Hibu (Yell), Punch Taverns and various other large, distressed corporate situations.

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