Tom Pugh
Partner
Hong Kong
Tom advises on Bermuda, British Virgin Islands and Cayman Islands law and he leads our Insolvency, Restructuring & Dispute Resolution Group in Asia.
Tom focuses on advising insolvency practitioners, creditors, and debtors and shareholders in respect of cross-border insolvencies and restructurings as well as funds and financial institutions on investment disputes, with experience in consensual workouts; court-led restructurings and recovery processes; and enforcement / strategic investment advisory reviews.
He frequently advises on corporate law and investment matters for a variety of stakeholders, including redemption issues, other exit options, directors' duties, protective steps, enforcement and remedies and strategies involving consensual and/or court-based approaches.
Tom has worked on a variety of large-scale cross-border liquidations and restructurings such as Lehman Brothers and MF Global (acting for the liquidators in Hong Kong), Asia-related Chapter 11 cases such as Pacific Andes/China Fishery and TMT and advised the steering committee representing the interests of more than 30 bank lenders and credit support providers/ECAs in connection with Hong Kong-listed Genting's US$3.5bn debt restructuring, as well as cross-jurisdictional recognition cases such as Z-Obee, Changang and Huiyuan Juice involving interplay among the courts of Hong Kong and Bermuda/the Cayman Islands.
Restructuring and liquidation work has involved advising on cross border asset recoveries and settlements, court processes to resolve key issues affecting liquidators’ ability to determine and distribute assets, matters arising in the administration of failed brokerages, and assignments involving China, Thailand, Vietnam, Indonesia, the Philippines, the United States, the United Kingdom, Germany, Switzerland and Japan.
Tom is recognised by Chambers, Legal 500, IFLR1000 and Lexology (formerly Who's Who Legal) as a leading practitioner.
"Tom is a highly regarded lawyer in the Hong Kong market, having deep experience across a variety of matters. He is well known as a cross-border insolvency and restructuring specialist who provides focused advice in a timely manner."
Experience and recent work
Prior to joining Walkers in 2021, Tom was a partner in Mayer Brown's restructuring and insolvency practice for eight years where he worked on a variety of large-scale cross-border liquidations and restructurings, Asia-related Chapter 11 cases as well as cross-jurisdictional recognition cases, with 17 years' experience in the Asia region.
Qualifications
Admitted in:
- Bermuda, Registered Associate
- British Virgin Islands
- England and Wales (not practising)
- Hong Kong (not practising)
Education:
- LLB, with Honours, University of Bristol
Tom is a member of INSOL, including as a member of INSOL’s 12-seat editorial board for its monthly newsletters and a previous board member/secretary of the Hong Kong chapter of the global Turnaround Management Association.
2025 Chambers Asia-Pacific - Notable Practitioner - "Tom Pugh frequently advises creditors with regard to debtor negotiations, liquidations, restructurings and recovery matters. He comes recommended for his handling of multi-jurisdictional matters." "He is responsive, technically sound and a good person to work with. It is a positive experience working with them." "Tom Pugh gave solid enforcement advice on a sensitive matter."
2025 Legal 500 Asia Pacific - Leading Partner - "Tom Pugh is a key contact for both creditors and debtors, shareholders, and insolvency practitioners."
2024 Chambers Asia-Pacific - Notable Practitioner - "Tom is a highly regarded lawyer in the Hong Kong market, having deep experience across a variety of matters. He is well known as a cross-border insolvency and restructuring specialist who provides focused advice in a timely manner."
2024 Legal 500 Asia Pacific - Leading Individual - "Knowledgeable in offshore insolvency work."
2023 Chambers Asia-Pacific - Notable Practitioner - "Tom Pugh frequently advises creditors with regards to debtor negotiations, liquidations, restructurings and recovery matters. He comes recommended for his handling of multi-jurisdictional matters."
2023 Legal 500 Asia Pacific - Leading Individual
2022 Asian Legal Business - Asia's Top 15 Offshore Litigators
2022 Legal 500 Asia Pacific - Leading Individual
2022 Chambers Asia-Pacific - Recommended - Offshore: Corporate & Finance including Investment Funds
Who's Who Legal 2021 - Recommended Lawyer - Mainland China & Hong Kong SAR - Restructuring & Insolvency: "[Tom] enjoys a sterling reputation for his exemplary work on complicated insolvency cases."
Leading Individual - Restructuring and Insolvency, Hong Kong - The Legal 500 Asia Pacific (2018 - 2021)
“Combining innovative solutions with a pragmatic approach”, Tom Pugh demonstrates “significant technical expertise on a variety of complex cross-border issues” - The Legal 500 Asia Pacific (2019)
Tom Pugh “is praised for his 'great thoughtfulness and agile approach to restructurings’.” - The Legal 500 Asia Pacific (2020)
‘Analytical with devastating effect.’ - The Legal 500 Asia Pacific (2021)
Banking & Finance: Restructuring/Insolvency, China - Chambers Global (2019, 2020)
Restructuring/Insolvency (International Firms), China - Chambers Asia Pacific (2019, 2020, 2021), which notes that clients describe Tom Pugh as having a “very practical approach to matters” and being “very strong technically.” “Thomas Pugh earns his ranking supported by strong feedback from the market and work on a variety of cross-border insolvencies …”. “[T]echnical expertise, combined with astute commercial awareness on various complex cross-border issues and a results oriented approach."
Tom Pugh “is a well-respected figure in the market who often advises insolvency practitioners and banks with regard to distressed situations. A client praises his technical ability, noting: "He can really get into the technical aspects of the documents very effectively and he gives very effective and commercial advice.” Chambers Asia Pacific (2020)
Leading Lawyer - Restructuring and Insolvency, Hong Kong - IFLR1000 (2017-2020)
“Tom is very knowledgeable in the restructuring space. He’s very calm under pressure and provides sound and concise advice.” “ … Tom Pugh [is a] leader in the restructuring field and provide[s] exceptional service …” IFLR1000 (2019)
"Tom is a personable lawyer that has solid experience in the region. He is accessible and responsive to requests and can provide clear/concise advice tailored to particular circumstances.” IFLR1000 (2020)
“Very smart operator.” - The Legal 500 Asia Pacific (2017)
Tom has also been published in the following titles:
- Hong Kong chapter of book – "Corporate Restructuring and Insolvency in Asia", Asian Business Law Institute, in conjunction with the International Insolvency Institute (ISBN 978 981 14 4963 5)
- Hong Kong chapter for the 9th, 11th and 12th editions of "The Restructuring Review", published by The Law Reviews (ISBN 978-1-83862-047-9; ISBN 978-1-83862-047-9; ISBN 978-1-910813-22-5)
- Hong Kong sections for the Global Restructuring Review’s Asia Pacific Restructuring Review manual: 2017, 2018 and 2019
- Hong Kong chapter for the INSOL International book entitled “Insolvency and Trusts”
Team Members
