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Shepherd and Wedderburn

Work 0131 228 9900
Fax 0131 228 1222
551970 EDINBURGH-53

Paul Hally

Work 0131 473 5183
Shepherd and Wedderburn

Work Department

Corporate Finance


Paul is a partner and chairman of the firm and heads up the finance and restructuring practice. He is one of Scotland’s best-known corporate lawyers, with a number of major energy and financial companies featuring in his client list including Cairn Energy, Lloyds Banking Group and European Assets Trust. He is also a highly experienced insolvency practitioner and. His particular specialism is complex restructuring and insolvency work involving the application of his wide range of banking, insolvency and corporate experience. He acts as a reporter to the Court of Session in Edinburgh on significant corporate transactions and is the convenor of the business policy panel of the Institute of Chartered Accountants of Scotland. Recent work includes acting on various debt to equity restructurings, acting as Reporter on capital reduction applications by Bank of Scotland, HBOS and Standard Life and Cairn Energy’s international investment treaty arbitration against the Government of India.


Articled Fyfe Ireland WS; qualified 1984; assistant solicitor Shepherd and Wedderburn 1984-87, partner since 1987; president Scottish Young Lawyers’ Association 1983-85; lectured in insolvency for Law Society of Scotland, post qualifying legal education and Institute of Chartered Accountants in Scotland, joint Insolvency Examination training courses. Chief executive of the firm 1999-2004. Appointed reporter to the Court of Session in Edinburgh, 2006 and reported on various cases including the demutualisation of Standard Life and the merger of Lloyds Banking Group and Bank of Scotland and the recent Project Verde Schemes. Chairman of the firm since 2014.


Law Society of Scotland; Law Society; ICAS business law committee; secretary and non-executive director of World Services Group 2001-2004. Director of Scottish Financial Enterprise 2005 – 2011.


Perth High School; Edinburgh University (LLB Hons; WS).


Golf, hill walking, music.

Scotland: Corporate and commercial

Corporate and commercial: Edinburgh and Glasgow

Within: Corporate and commercial: Edinburgh and Glasgow

Shepherd and Wedderburn‘s team, which ‘understands the bigger picture in terms of business consequences‘, includes a number of first-rate practitioners, such as food and drink group head George Frier and Joanna Boag-Thomson, who are ‘commercial, innovative and provide great client service‘. In addition, Danny Lee and John Morrison ‘understand points easily and their drafting is high quality‘ and senior associate Tom Swan is lauded for his ‘attention to detail‘. Stephen Trombala leads the group, which is adept in transactions spanning a wide range of industries, including food and drink, renewable energy, corporate real estate, oil and gas (upstream and services sectors), technology and life sciences. It consistently excels in headline deals; in 2017, highlights included Frier and others acting as the lead legal adviser to Chivas Brothers (part of the Pernot Ricard Group) in the sale to the Glenallachie consortium of its Glenallachie distillery, and certain whisky stock and whisky brands. Frier also led a team in the advice to Collagen Solutions on its £8m placing and open offer, and also on a £4m bond issue. Morrison assisted TVSquared (one of Scotland’s most successful recent start-up companies) with its $6.5m series A equity financing. Also recommended are George BoyleAndrew BlainPaul HallyKeir Willox, Joanna Monaghan  and Ian Mitchell.

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