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Paul Muscutt

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Partner
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Areas of Focus

Overview

An experienced bankruptcy and restructuring lawyer, Paul Muscutt’s practice covers all aspects of contentious and noncontentious insolvency, with specific knowledge of contentious work and focus on the asset-based lending sector. Paul acts for financial institutions, private equity investors, insolvency practitioners, directors, and corporate clients.

Paul is a partner in Crowell & Moring’s Corporate Group in the firm’s London office. He is a member of the Legal and Technical Committee for the Asset Based Finance Association (part of UK Finance) and a member of R3’s Policy Group.

Career & Education

    • University of Plymouth, LL.B., 1998
    • College of Law, Guildford, LPC, 1999
    • University of Plymouth, LL.B., 1998
    • College of Law, Guildford, LPC, 1999

    • England and Wales
    • England and Wales

Paul's Insights

Client Alert | 5 min read | 07.10.25

Litigation Funding Waterfalls Are Compliant Post-PACCAR (UK)

In a previous client alert on a recent Civil Justice Council (“CJC”) report on litigation funding in England and Wales we discussed the issue of whether payment waterfalls providing funders with payment priority are compliant with the Damages-Based Agreements Regulations 2013 (“DBA Regulations”), the issue being a matter to be heard on appeal in June 2025. Funders will be pleased to hear that the answer is “yes”. The Court of Appeal has held that the DBA Regulations focuses on whether a funding agreement determines the amount of a funder’s fees by reference to the damages awarded to the successful litigant. The fact that a funder may receive its fees from the proceeds is not enough in itself for the arrangement to fall under the DBA Regulations....

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Representative Matters

  • Secondments to the restructuring teams of large financial institutions.
  • Acting for a foreign liquidator in a reported case of cross-border insolvency regulations in relation to a large shipping arbitration dispute.
  • Advising financial institutions on the complex restructuring of a leading manufacturer of beds in Europe, Russia, and Asia.
  • Advising a bank on the £110 million restructuring of a coal mine.
  • Advising a financier on the $1.5 billion restructuring of one of the world’s largest independent steel traders.
  • Advising the board of a premier UK football club on potential insolvency issues.
  • Representing companies in relation to the restructuring of a £15 million turnover business specializing in flexible office space solutions.
  • Acting for bankruptcy trustees in the tracing and recovery of assets following a £16 million fraud.
  • Advising a U.S. private equity investment firm on the acquisition of a European airline.
  • Representing creditors on a creditors’ committee in the administration of a failed FSA-regulated derivatives broker.
  • Representing a company in the trading administration of a theme park and a £35 million investment.
  • Representing the administration of an online fashion retailer.
  • Acting for the administrators of a global provider of interactive entertainment products in the gaming industry.
  • Acting as administrator in the administration of the UK’s largest online retailer of products for home and garden.
  • Advising on a cross-border real estate restructuring matter for £150 million.
  • Representing a syndicated lender in the restructuring of a leading wholesaler.

Paul's Insights

Client Alert | 5 min read | 07.10.25

Litigation Funding Waterfalls Are Compliant Post-PACCAR (UK)

In a previous client alert on a recent Civil Justice Council (“CJC”) report on litigation funding in England and Wales we discussed the issue of whether payment waterfalls providing funders with payment priority are compliant with the Damages-Based Agreements Regulations 2013 (“DBA Regulations”), the issue being a matter to be heard on appeal in June 2025. Funders will be pleased to hear that the answer is “yes”. The Court of Appeal has held that the DBA Regulations focuses on whether a funding agreement determines the amount of a funder’s fees by reference to the damages awarded to the successful litigant. The fact that a funder may receive its fees from the proceeds is not enough in itself for the arrangement to fall under the DBA Regulations....

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Insights

Client Alert | 5 min read | 07.10.25

Litigation Funding Waterfalls Are Compliant Post-PACCAR (UK)

Firm News | 3 min read | 06.10.25

Crowell & Moring Lawyers Author “An Overview of Litigation Funding” for ICLG

Client Alert | 8 min read | 06.06.25

Litigation Funding Reforms: Clarity for UK Funders and Litigants Post-PACCAR

Publication | 06.04.25

An Overview Of Litigation Funding

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Practices

Industries

Paul's Insights

Client Alert | 5 min read | 07.10.25

Litigation Funding Waterfalls Are Compliant Post-PACCAR (UK)

In a previous client alert on a recent Civil Justice Council (“CJC”) report on litigation funding in England and Wales we discussed the issue of whether payment waterfalls providing funders with payment priority are compliant with the Damages-Based Agreements Regulations 2013 (“DBA Regulations”), the issue being a matter to be heard on appeal in June 2025. Funders will be pleased to hear that the answer is “yes”. The Court of Appeal has held that the DBA Regulations focuses on whether a funding agreement determines the amount of a funder’s fees by reference to the damages awarded to the successful litigant. The fact that a funder may receive its fees from the proceeds is not enough in itself for the arrangement to fall under the DBA Regulations....

View All Insights