Why did you become a lawyer?

By default. A law degree seemed a solid option while I made up my mind what I really wanted to do… as did law school… and articles. It was only when I started work as an articled clerk at Simmons & Simmons that I realised this was something I would really enjoy.

Who has been the biggest influence on your career?

Speculators, entrepreneurs and fraudsters. It was the collapse of Carrian, then the largest Asian liquidation, that took me to Hong Kong in 1984; the collapse of BCCI that took me to the Middle East in the early 1990s; and the collapse of the European high-yield bond market in 2001-02 that has kept me busy for the past five years.

What is your proudest professional moment?

When a judicial committee of the House of Lords recused itself from hearing charges it had brought against Tiny Rowland, Lonrho plc and The Observer for contempt of Parliament arising from the publication of the House of Fraser Report. In a constitutional quirk, the charges carried the death penalty. We argued that there was an appearance of bias because the judicial committee had brought the indictments themselves as prosecutor, witness, judge of first instance and court of final appeal. Subsequently, a different judicial committee dropped the charges.

… and worst day on the job?

A few months into my articles, I was asked to act for a senior employee of an important corporate client in arranging for him to sell his Sussex house and buy a new one in Leicestershire. Sadly, nowhere in my notes did it say that I had to get any of the transfer documents signed. As he drove his family and possessions north, I managed to meet the client on the day of completion in a lay-by in West London and get his documents signed. A black moment for a young trainee.

What is your biggest extravagance?

Renting houses. I have missed out on the housing boom over the last 20 years which has (so far as I can tell) made billionaires of all my friends.

How do you think your assistants view you?

With a fine mixture of affection and respect, I have no doubt.

What would you do if you were not a lawyer?

I would, of course, be a major philanthropist. Think Bill Gates or Warren Buffett.

What will be the most significant market trend in terms of your practice area over the next 12 months?

For over a year now, experts have been predicting a sharp rise in the default rates in LBO debt, much of which has been extended or refinanced at fancy multiples. We are already seeing a number of badly-distressed situations and we expect the volume to grow significantly in the next 12 months.

Aside from those at your own firm, which lawyer do you most admire and why?

Professor Roy Goode, because he can explain very complex ideas in a simple, comprehensible way. And the lead banking partner at a large firm, who had better remain nameless, who has made a fine career from doing just the opposite.

How often do you wonder if you are in the wrong line of work?

Who could lose interest in a job that provides constant new challenges, changing faces, high-profile transactions, demanding litigation, piles of paperwork, late nights, constant missed social engagements, serial divorces, more bloody paper…

What is the best part of your job?

I know everyone says this, but it's the people. We have a tight-knit group of 40 bright, energetic lawyers in the London office, with a very low attrition rate. So I know most of them very well, and it is a pleasure to work with them. I also enjoy the challenge of advising today's bright motivated investors – most of the time.

… and the worst?

In 1990, I was trying to get engaged to my wife and, for more than six weeks I was unable to find half a day to get away to see her parents. Sixteen years later, nothing much has changed. Fortunately, but inexplicably, my wife remains married to me.

Where do you see yourself in 10 years' time?

On the 18th hole at Pebble Beach, on the plateau of a rich lockstep partnership. Truthfully, I suspect I will keep working as long as I have clients who are interested in hearing what I have to say.

What is your favourite lawyer joke?

Why are lawyers being used in experiments these days instead of white rats? Because you can get fond of a white rat, there are more lawyers than white rats, and there are some things even a white rat won't do.

What is your favourite cheese?

I cannot bear any sort of cheese. No one else seems to notice it, but I can't bring myself to eat something that smells like old socks.

Dealmaker returns in two weeks.