Deryck A. Palmer

 

Deryck A. Palmer is the founder and chairman of West Lane Partners, a private equity firm focused on distressed companies. This is a specialty he knows extremely well, having restructured businesses for some of the largest corporate clients in America as a  bankruptcy law partner at three different firms: Weil Gotshal & Manges; Cadwalader, Wickersham & Taft; and Pillsbury Winthrop Shaw.

 

Mr. Palmer was the lead lawyer for the U.S. Department of Treasury on the General Motors and Chrysler bankruptcies — the largest bailouts in American history. He founded an International Bankruptcy practice in China. He served as lead counsel on the restructuring of the biggest private bailout loan in the LyondellBasell Chapter 11 case. He also was lead lawyer on restructurings for Lenox Hill Hospital, the Detroit Public Schools, the Detroit Medical Center and Louis Berger Group.

 

Early Life and Career

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Born in Manhattan to Jamaican immigrants, Mr. Palmer was raised in a family that prized independence, hard work, perseverance and a commitment to excellence. His father came to the U.S. in 1948 as an undergraduate student and later accepted a scholarship to Columbia University’s Master of Engineering program. He was recruited to work on the design  team for the Verrazano-Narrows Bridge between Brooklyn and Staten Island.

 

Following high school, Deryck Palmer enrolled at Syracuse University and graduated as a University Scholar. He entered the University of Michigan Law School as an Earl Warren Fellow for public service and on a Ford Foundation fellowship.

 

After working as a summer associate at Weil Gotshal in New York following graduation, he  joined the world-renowned practice of bankruptcy law pioneer Harvey R. Miller.

 

That Mr. Palmer became the first African American at the firm to rise from summer associate to being elected a partner within eight years was both a personal achievement for him and a sad commentary about the profession in 1989. At Weil, he started the Healthcare Restructuring practice and built it into an industry force of three partners and 15 associates.

 

Subsequently, seeing an opportunity in China, Mr. Palmer founded an International Bankruptcy practice there, growing it into an industry force over a decade. While building an international bankruptcy practice, Mr. Palmer served as a foreign advisor on the country’s bankruptcy code and authored a handbook on the new law.

 

Since 1998, Mr. Palmer has worked with Private Equity firms in managing their distressed portfolio companies and acquisitions of newly troubled companies. This practice has continued for the balance of his legal career.

 

Innovative problem-solving helped establish Mr. Palmer as an authority in the specialized field of restructuring. This attracted clients, led to speaking engagements and numerous industry awards.

 

West Lane Partners

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At West Lane, Mr. Palmer is the majority owner. He is a hands-on manager and is involved  in every aspect of the firm. While West Lane’s Investment Committee will make all investment decisions by a majority vote, his vote must always be with the majority.

 

Mr. Palmer is already identifying potential targets. These opportunities will continue to arise as companies struggle to find their footing in the disrupted economy.

 

What Mr. Palmer has demonstrated time and again over four decades is an unparalleled knack for innovation and access to deals. He also possesses a wide network of experts in operations and financial management at financial advisory, consulting, accounting and law firms, as well as  private equity firms and hedge funds. 

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