Cork Gully Realises Value for Stakeholders in Destiny Pharma Liquidation
Cork Gully is pleased to announce the successful sale of key assets from Destiny Pharma Limited (in liquidation), an AIM-listed clinical-stage biotechnology company...
The firm remains as committed to our founding principles today as we were a hundred years ago. Our partners and staff have worked together for many years, reorganising operations, restructuring business models and strengthening governance to deliver sustainable stakeholder value. In an increasingly complex trading environment, the solutions we provide are more creative, more responsive and more effective, helping clients navigate financial and operational challenges with confidence.
He has worked across a range of sectors, including real estate funds, leisure, financial investments, shipping, retail, mining, care homes, manufacturing, hotels and insurance. He is known as a strong negotiator with a pragmatic approach, driving optimal outcomes in restructuring transactions. Haroon also has a proven ability to lead business development and set up new service offerings, leveraging his extensive network of relationships with restructuring bankers, lawyers and other intermediaries.
Haroon developed his knowledge and experience of large-scale transformation while working for a global management consulting firm. He combines experience advising international clients of Kroll, McKinsey & Co., PwC, and Alvarez & Marsal, with work in RBS’ and ABN Amro’s Capital Resolution, Global Restructuring, and Distressed Capital investing teams.
Haroon holds a B.A. (Honors) in Accounting and Finance from Manchester Metropolitan University. He is a Fellow of the Chartered Association of Certified Accountants.
Max’s academic background is impressive, with an LLM in Banking and Financial Services Regulation from the London School of Economics and Political Science (LSE) and a Maîtrise en droit des affaires (Master in Business Law) from Université Robert Schuman (Strasbourg III) in France. He also holds a Propédeutique I degree in Communication Systems from the École Polytechnique Fédérale de Lausanne (EPFL) in Switzerland. He is also a lecturer in insolvency law at the Cours Complémentaires de Droit Luxembourgeois, established by the Luxembourg Ministry of Justice.
Max is qualified to act as a liquidator in Luxembourg, and acts for private investors, banks, investment funds and companies. His expertise also extends to winding down investment funds and crypto related litigation.
Fluent in English, French, German, and Luxembourgish, and proficient in Italian, Max’s multilingual capabilities allow him to serve a diverse clientele across different jurisdictions.
Tim’s clients have included private equity portfolio companies, owner managed businesses, family offices and UK quoted corporates in many industry sectors including business services, industrials, media, consumer and technology.
Tim’s expertise includes advising on UK public and private company mergers and acquisitions and Takeover Code governed transactions in Europe and North America. He is also experienced in company-side financial restructuring transactions and fundraisings.
He qualified as a Chartered Accountant with EY before joining Close Brothers Corporate Finance in 2000. He subsequently worked in mid-market investment banking for over 20 years as well as for a European family office.
He has substantial regulated financial services experience, with a particular focus on hedge funds, private equity, sovereign wealth funds and family offices, with full-lifecycle experience including launch, fundraising, growth, M&A, succession, exit and orderly wind-downs.
During times of crisis or transition, he acts as independent director, receiver, chief restructuring officer, and liquidator of client entities globally. Hadley has been selected to lead many high-profile mandates and has taken control of, managed and disposed of a wide range of portfolio companies and assets with multi-jurisdictional regulatory, political and economic considerations, leveraging his experience in the major international financial centres.
A Chartered Accountant and TCFD certified, he is a Cayman registered director, has been a BVI regulated insolvency practitioner for over 12 years, and on a case-by-case basis, the UK FCA Approved Person. He is an active member of the Guernsey and BVI Investment Funds Associations and helped to set up the Recovery and Insolvency Specialists Association (BVI) serving three terms as a Board member. He is a member of INSOL International and regularly speaking on panels at industry events.
Richard has a strong background in financial advisory, corporate restructuring, and value creation. His notable roles include serving as Managing Director at Kroll Middle East and as a Partner at KPMG Lower Gulf. His extensive experience also encompasses leadership positions at Dubai International Capital LLC and Deloitte, where he played a key role in establishing and expanding M&A and financial advisory practices in the Middle East and London. Richard has a proven track record of transforming businesses and managing diverse asset portfolios.
With board-level experience, including roles as CFO and CEO, Richard brings substantial operational insights, contributing to effective decision-making. Richard works with local sponsors, investors, and lenders. He has cultivated key relationships with a wide range of stakeholders, including private equity, family offices, sovereign wealth funds, lenders and advisors.
Richard qualified as an accountant in 1998 and has a degree in Economics from the University of Glasgow.
After qualifying in 1986, he subsequently worked in the Middle East, Africa and the UK for a number of commercial and financial services groups before returning to Jersey in 1991. He was formerly a Principal of Channel House Financial Services Group from 1996 until its acquisition by Capita Group plc (“Capita”) in September 2005. Richard led Capita’s financial services client practice in Jersey until September 2007, when he left to establish Governance Partners, LLP, an independent corporate governance practice.
He currently acts as Audit Committee Chairman of M&G Credit Income Investment Trust plc and Audit Committee Chairman of Malibu Life Holdings Limited, both of which are listed on the London Stock Exchange. Additionally, Richard has extensive investment management governance experience in the Cayman Islands and Luxembourg.
He is regulated in his personal capacity by the Jersey Financial Services Commission.
He regularly assists boards, investors and financiers to find unique and innovative solutions to distressed, often complex and contentious recovery situations. Anthony works with both smaller and large corporates spanning a wide range of sectors providing practical, straightforward and commercial advice. Anthony is known for his willingness to take on engagements, often on short notice, utilising his skills, tenacity, and visionary approach to deliver results that not only preserve but also enhance value for his clients.
Anthony also brings to the firm his knowledge and experience gained from secondments at two of the largest banks in the UK.
His extensive experience encompasses a wide range of industries such as financial services, asset management, real estate, energy, mining, life sciences, technology, media, manufacturing, and transportation.
Alain has been a Partner at Ernst & Young, and prior to that at Andersen Corporate Finance, in Paris. He was also Managing Director European Special Situations at Close Brothers Corporate Finance, a highly respected mid-market Investment Bank in London, and Managing Director and European Head of Restructuring / Litigation Advisory for two large international financial consultancies (BTG Mesirow and Huron Consulting Group). After these roles, he founded his own consultancy firm based in Lausanne, Switzerland to help his Swiss and international clients improve turnaround, recovery or exit outcomes for their challenged assets.
Alain is a Swiss and French national who has worked and lived in Switzerland, Germany, France, the UK and is fluent in all three languages. He is a Certified Turnaround Professional (CTP) who also holds a Master of Business Administration from INSEAD, Fontainebleau, France, a Master of Sciences, Engineering, from Ecole Centrale de Paris, France, and an Islamic Finance Qualification.
Alain co-founded the Swiss Turnaround Association in 2020 and served on its Board until September, 2023. He now serves on the Board of the Turnaround Management Association Europe and also serves as Chair for Education on the Board of the European Association of Certified Turnaround Professionals.
Clifford has specialised in M&A, Debt, and Equity capital markets, advising clients since the start of his career. He progressed, spending 14 years at BAML before transitioning to EY in 2016. At EY, he led the M&A practice, overseeing a team of 3000 across their global platform. Clifford played a significant role in shaping EY’s strategy and execution. He has built a strong reputation for his strategic thinking and decision-making, guiding clients through complex transactions.
He thrives on the challenge of understanding buyer behaviour and macro market drivers, enabling him to maximize value for his clients. Clifford’s expertise includes business transformation, managing cross-border M&A teams, asset management, and advising on strategic investment choices.
Clifford’s areas of expertise include Mergers and Acquisitions, Debt and Equity capital markets, and advising companies on their risk/return outcomes in M&A. Clifford’s skills lie in managing sell-side mandates, understanding macroeconomic impacts, and ensuring optimal valuations.
Robert has specialised in corporate finance since the start of his career at Morgan Grenfell. He held senior roles at large investment banks and boutique advisory firms. Robert is also an experienced board director of regulated financial services businesses . He is currently Chairman of Premier Miton Group, a UK stock market-listed investment management firm. He has also chaired private businesses and has extensive advisory experience within the professional services sector.
He has built a strong reputation for his strategic acumen and is adept at leading complex transaction advisory projects that are change-driven. Robert understands how to manage these around capital market and regulatory sensitivities, and how to exercise effective senior leadership and decision-making.
Robert’s expertise includes Mergers and Acquisitions, equity capital markets, and advising on strategy within financial services. He is known for his ability to lead complex projects and manage regulatory issues. Robert qualified as a Chartered Accountant with Arthur Andersen in London and holds a BSc from Bristol University in Politics and Economics.
Simon began his career as a lawyer at Linklaters and then Milbank, Tweed, Hadley & McCloy, From 2004, Simon worked as a financial adviser at Close Brothers Corporate Finance and then moved to Blackstone, where he was a Managing Director of the European restructuring team, establishing their advisory practice in 2007.
Simon has worked as advisor for funds, companies and lenders on some of the largest and most complex restructurings of the last two restructuring cycles. These include Eurotunnel, the Drax power station and Ebone/Esprit Telecom in a restructuring cycle driven by energy and telecoms deregulation Simon’s clients include Basis Capital (an Australian hedge fund), Northern Rock, PWC (as administrators of Lehman Brothers Europe) and MBIA in the financial crisis. He has also provided strategic capital structure advice for various institutional and sovereign clients.
Simon is a regular contributor to the press and was co-editor of The Corporate Restructuring Journal for several years.
He founded the London office of an international advisory firm and led their European practice for over a decade building the largest secondary debt trading team in Europe. He has acted in many high-profile cross-border restructurings, special situations and investigations and is responsible for developing many of the conventions and market-standards currently used by the European market for secondary debt and claims trading.
His exposure to crisis management and restructuring, makes him a versatile and experienced advisor who has a reputation for solving problems.
Carl advises a range of stakeholders including including direct lenders, distressed debt funds and sponsors.
He specialises in capital raising across the capital structure and in advising both growing and distressed companies on financing and strategic transactions. He has executed transactions for private equity-backed platforms, working closely with General Partners (GPs) and Limited Partners (LPs). His experience is focused on financial institutions, including banks, insurance, specialty finance and fintech, as well as asset management. He has advised leading alternative asset managers across a range of strategies, including private equity, private credit, real estate, infrastructure, secondaries, and insurance-linked structures, and more recently on digital asset-related assignments.
Mitesh supports corporate finance and advisory engagements, drawing on his international experience. Prior to joining the firm, he founded Redwood Finance, a boutique financial services firm focused on asset and wealth management, brokerage and advisory. He previously spent 10 years at UBS and held senior roles at Truist Financial and Credit Suisse across capital markets and banking in New York, London and Hong Kong.
He has led a wide range of formal insolvency and recovery processes, including liquidations, administrations, and receiverships, as well as complex turnaround and restructuring engagements. Nirmal has advised many of Mauritius’ leading financial institutions, including the country’s largest commercial bank, on distressed and non-performing exposures across sectors including manufacturing, shipping, retail, hospitality and real estate.
As a Partner at Cork Gully, Nirmal leads the firm’s restructuring and insolvency practice in Mauritius and works closely with colleagues across the firm’s international network on cross-border engagements. He advises lenders, investment managers, directors, shareholders, regulators and other stakeholders on developing and implementing practical solutions for financially distressed businesses and complex situations. His practice also encompasses corporate finance, investigations and disputes, including financial analysis, loss quantification, forensic investigations and expert witness assignments.
As a private credit investment principal, he has executed transactions in services, consumer, industrials, ICT, and healthcare, investing across the capital structure and structuring a wide range of financing solutions. This breadth allows him to navigate complex restructuring situations with both creativity and precision.
Before joining Cork Gully, Michiel held senior leadership roles including partner and co‑head of the Private Credit strategies at Beechbrook Capital. Earlier roles at ING, KPMG Advisory, and another private credit fund further broadened his perspective across origination, underwriting, portfolio management and restructurings. A long‑standing member of Beechbrook’s Investment Committee, he gained deep experience in investment execution and the restructuring of private credit portfolios and individual assets, including leading end‑of‑fund‑life initiatives such as continuation vehicles. Known for his calm, analytical approach, he is frequently brought into high‑pressure negotiations and complex stakeholder situations.
Michiel holds an MSc in Corporate Finance from Vrije Universiteit Amsterdam and the University of Utah, Salt Lake City, Utah.
He has broad experience across M&A, private equity and venture capital, and has held senior roles including managing director, general counsel and private equity partner. His sector experience includes industrials, chemicals and services.
He began his career at Debevoise & Plimpton LLP and has held senior roles at Clariant, Almatis (a spin-off of Alcoa) and Honeywell, before becoming a partner in a mid-cap private equity fund. Most recently, he founded a special situations asset manager, focusing on fund liquidations and alternative solutions for GPs and LPs.
Jesko is based in Germany. He is authorised by BaFin and qualified to act as a liquidator in Luxembourg. He is a German-qualified lawyer, and holds a PhD in European competition law and a Licence en Droit from the University of Montpellier. Jesko speaks German, English and French.
He brings a specialised origination background spanning growth, restructuring and distressed carve‑out situations in Europe, the UK and North America. Daniel has worked extensively with private equity, management teams and investment banks on capital raising and deal origination, sourcing and structuring complex mandates across a range of sectors.
At Cork Gully, Daniel leverages his international network to originate and qualify mandates including crypto asset liquidations, offshore insolvency, activist shareholder engagements and distressed creditor recovery.
Prior to joining the firm, Daniel focused on mandate sourcing and capital formation for mid-market companies and financial sponsors. He began his career in IT asset disposition in the United States and holds degrees in International Business.
His strategic prowess and effective leadership played a crucial role in garnering multiple PE awards and elevating the Africa team to a distinguished status.
Hailing from South Africa, Peter boasts 18 years of experience in private equity. At Actis, he managed the operational aspects of the African and Latin American private equity sectors from Johannesburg and London.
Peter joined Actis in 2004 following an eleven-year tenure at Ethos Private Equity, where he spearheaded numerous MBO/LBO transactions, including some of Africa’s largest private equity deals like Waco International. Prior to Ethos, Peter served as a corporate finance advisor for Anglo American plc and spent time at Price Waterhouse. He has also worked at Investec. He holds a degree in Commerce and Accountancy from the University of Witwatersrand and is a Chartered Accountant.
Stephen has specialised in restructuring and since 1989, having qualified in 1993. He became a partner at Moore Stephens in 1994 before joining Smith & Williamson in 2000. There, he served as Head of Restructuring from 2005 to 2010 and was a member of the firm’s Management Board, leading both UK and international assignments. Stephen joined Cork Gully as Managing Partner in 2010. Alongside his restructuring practice, Stephen has been instrumental in developing Cork Gully Asset Managers, the firm’s FCA-regulated asset management business. He advises on successor fund management, fund restructurings, wind-downs, secondaries, and other complex investment fund situations, working with institutional investors, fund managers and lenders to preserve and maximise value.
Stephen has built a strong reputation for combining commercial judgement with deep technical expertise to deliver pragmatic, value-focused solutions in complex and often contentious situations. He is a licensed Insolvency Practitioner. His experience spans business transformation, distressed M&A, restructuring, insolvency, asset management, dispute resolution, and special situations across a broad range of industries and jurisdictions.
Cork Gully LLP is a limited liability partnership registered in England and Wales with number OC357274 whose registered office is at 40 Villiers Street, London WC2N 6NJ. The term partner is used by the firm to refer to a member, employee or consultant with equivalent standing and qualifications. A list of members and their professional qualifications is open to inspection at the registered office and the above address. Cork Gully (Holdings) Limited is a member of Cork Gully LLP, that owns a group of associated firms. Cork Gully (Holdings) Limited provides no client services. Such services are only provided by its associated firms. Cork Gully (Holdings) Limited and each of its associated firms are separate legal entities, and are liable for their own acts or omissions and not those of each other. The "Cork Gully" brand name and the term "firm" are used to refer to Cork Gully LLP, its associated firms, companies, or their offices. Further information about the firm can be found at corkgully.com.