David Plch

Partner, Prague

Biography

“He is very experienced, innovative and proactive with the way he approaches solutions.”
Chambers Global 2019

Overview

David Plch heads the Banking practice in the EMEA region. Mr. Plch concentrates on financing, financial restructuring and insolvency. He often advises financial institutions and major corporations in relation to their cross-border projects in Central and Eastern Europe. Over the past more than 20 years, he has been involved in nearly all of the major financing and financial restructuring and insolvency transactions undertaken by our office, representing financial institutions and large corporate and private equity clients throughout Europe and Asia, as well as in the United States.

Mr. Plch has been advising banks, strategic and financial investors, corporations, and sovereign entities in various industry sectors on the practical and legal aspects of financial restructuring projects, including out-of-court financial restructurings or formal reorganizations under court protection and insolvency proceedings. He was elected Vice-president of the Turnaround Management Association (TMA) of the Czech Republic. TMA is the only international non-profit association dedicated to corporate renewal and turnaround management.

He also regularly lectures on various financing, financial restructuring and insolvency topics, and related cross-border aspects at seminars organized for financial institutions and at various conferences.

Bars and Courts
Czech Bar Association
Education
PhD
Masaryk University, Faculty of Law

Brno

JUDr
Masaryk University, Faculty of Law

Brno

International Business Law
University of Toronto

Postgraduate Program, Toronto

Mgr
Masaryk University, Faculty of Law

Brno

Languages
Czech
English

Experience

Represented Avast Software in the circa US$1.3 billion senior secured term facility used to finance the acquisition of AVG Technologies, a provider of security software solutions. Both Avast and AVG are industry pioneers founded in the Czech Republic in the late 1980s and early 1990s that expanded globally in the 2000s. The acquisition allows Avast, which is headquartered in Prague, and has offices in the US, Germany, China, South Korea and Taiwan, to expand its operations. Combining Avast's and AVG's users, the organization will have a network of more than 400 million endpoints, of which 160 million are mobile.

Represented P3, the specialist owner, developer and manager of European logistics properties, on the financing of the €523 million acquisition of a Czech logistics portfolio from two funds. The funds are controlled by Tristan Capital Partners and VGP, the leading developer of industrial parks. P3, owned by leading global private equity firm, TPG Capital and real estate company, Ivanhoé Cambridge, agreed to buy 58 warehouses and development land covering a total of 627,000 square meters in a number of strategic locations across the Czech Republic, including the capital, Prague.  White & Case represented P3 Logistic Parks (P3) and leading global investment company TPG Real Estate (the previous owner of P3 alongside Ivanhoé Cambridge) on the financing aspects of the sale of P3 to GIC, a sovereign wealth fund established by the government of Singapore.

Česká spořitelna in an export buyer's credit facility with Czech ECA (EGAP) coverage to finance the reconstruction and extension of a part of the Great Silk Road in Azerbaijan, including the related delivery of machinery and technology, mainly of Czech origin.

Citibank Europe plc in connection with a credit facility for the financing of the construction of a new tire production plant in the state of Iowa in the U.S. for Mitas Tires North America, Inc., the U.S. subsidiary of Mitas group - a leading global producer of agricultural, industrial and motorcycle tires.

UniCredit Bank Austria AG and UniCredit Bank Czech Republic, a.s. in the project financing of the refurbishment, upgrade, and operation of the main railway station in Prague and the railway station in Marianske Lazne, Czech Republic. This was a unique pilot project for the refurbishment of key railway stations in the Czech Republic, implementing highly-structured, long-term concessions with Czech Railways (a Czech state-owned entity) and PPP elements.

Commerzbank as an agent in the financial restructuring of a major Czech auto-parts producer Motorpal, a.s.  Our restructuring team assessed the potential restructuring options taking into consideration the difficult business situation caused partially also by the situation in the Russian Federation. On the basis of our advice, the client agreed on the restructuring of the loan and ultimately agreed to a unique pre-packed formal court reorganization approved by the creditors. This type of reorganisation was used for the first time on the Czech market and culminated in a successful emergence of the company from the reorganization in February 2017.

Czech and regional banks in relation to the restructuring of credit and guarantee facilities provided to a large heavy industry conglomerate. The mandate involves intercreditor arrangements designed to accommodate existing bilateral exposures; standstill arrangements which set the conditions under which the lenders will permit the debtors to effect distressed disposals of their assets whilst defaults are occurring under the financing documentation; and the reorganisation within the context of a formal insolvency process in respect of some of the group entities.

The Czech branch of HSBC in the Czech insolvency proceedings of the debtor Pilsen Steel.

Czech Airlines (ČSA) in European Commission proceedings on approval of the restructuring plan of ČSA.

A major Czech financial institution in connection with the first-ever solvent restructuring transaction in the Czech Republic including a debt-for-equity swap of a portion of the senior debt for equity of the borrower held by the bank.

Awards and Recognition

Named „Innovative lawyer” of 2017 by Právní rádce, Economia

Ranked as Band 1 lawyer in the area of banking and finance by Chambers Europe and Global 2019

Ranked as one of the leading banking practitioner by Legal 500 2018 and IFLR 1000 2019