Dispute resolution

Tchenguiz

In one of the largest disputes of the past decade, the ongoing multi-faceted Tchenguiz litigation, achieved a series of victories including securing jurisdiction against Kaupthing Bank Hf and a successful judicial review challenge against the SFO.

Collapse of Arch-Cru funds

Acted for SPL Guernsey ICC Ltd in relation to the collapse of the Arch Cru funds and the related litigation both in the UK and Guernsey including claims against the investment manager, directors, administrators and auditors of the fund.

Mobil v PDVSA

Successfully discharged a $12bn freezing order and brought related damages claims arising out of ICSID and ICC arbitrations between a subsidiary of Exxon Mobil and the Venezuelan state oil company.

Commercial litigation

Property group corporate dispute

Acting for family members and related companies in a dispute with another family member and companies within his control relating to several multi-million pound property portfolios and the corporate structures through which they were held.

Major international hotel

Acting for well-known international luxury hotel in connection with a series of fraudulent credit card transactions over many months.

Commercial information

Acting for an investment bank in connection with a claim for misuse of sensitive commercial information and related regulatory issues in connection with a significant transaction involving a listed multinational company.

ETI v Bolivia and Entel

Successfully discharging a freezing order before the English Commercial Court and Court of Appeal in telecoms investment treaty dispute under ICSID arbitration rules involving issues of state immunity.

Banking and financial services litigation

Banking crisis and non-performing loans

Advising a number of European banks on hundreds of recovery and liability proceedings in several jurisdictions arising from multi-billion Euro loan portfolios including the impact of European and national banking and insolvency legislation.

Securities litigation

Acting for a global asset manager in connection with litigation relating to a portfolio of RMBS and CMBS assets including noteholder claims in England and securities fraud claims in New York and California.

Tchenguiz Family Trust v Kaupthing

Litigation against Kaupthing Bank (in liquidation). Together with a related claim, the sums at stake represented a third of the GDP of Iceland. Stephenson Harwood was awarded Litigation Team of the Year 2012 (The Lawyer) for this litigation.

Tank & Rast dispute

Acting for UBS and Societe General in a dispute with and Terra Firma and a large infrastructure fund arising out of the proposed Euro 50 million refinancing of the Tank & Rast group.

Professional and management liability

Accountants negligence

Acting for a property fund in a claim against a top four accountancy firm arising from a tax-led restructuring of the fund's principal property portfolio.

Arch Cru (auditors)

Acting for a Guernsey protected cell company and the underlying cells, in respect of the new board's investigation into the collapse of the "Arch Cru" investment structure including significant claim against the auditors of the fund.

Solicitors negligence

Acting for a fund manager in connection with claims in professional negligence against a major law firm.

Fraud and asset tracing

Tchenguiz v SFO

Acting for the Tchenguiz Family Trust and others in relation to a dawn raid by the SFO, the criminal investigations and judicial review proceedings. Stephenson Harwood was awarded Regulatory and Litigation Firm of the Year 2012 (British Legal Awards) for this litigation.

Blue Skye Special Opportunities Fund

Acted for a number of defendants in proceeding brought by companies in the Fortress group. The claims related to the reorganisation of a €200 million fund and included allegations of conspiracy, causing loss by unlawful means, misrepresentation, breach of fiduciary duties, knowing receipt and unjust enrichment.

Collapse of Swiss Erb group

Advised banks in respect of the collapse of the Swiss Erb group of companies amidst allegations of fraudulent transfers and trading focusing on a SFr 800 million 'black hole' of missing monies.

Fraud by UK accountants

Acting for high net worth individual in connection with claims against a firm of accountants and associated companies arising out of £30 million fictitious investment in offshore jurisdictions.

Banks and banking

Tchenguiz Family Trust v Kaupthing

Litigation against Kaupthing Bank (in liquidation). Together with a related claim, the sums at stake represented a third of the GDP of Iceland. Stephenson Harwood was awarded Litigation Team of the Year 2012 (The Lawyer) for this litigation.

Banking crisis and non-performing loans

Advising a number of European banks on recovery and liability proceedings in several jurisdictions arising from multi-billion Euro loan portfolios including the impact European and national banking and insolvency legislation.

Securities litigation

Acting for a global asset manager in connection with an $18bn portfolio of RMBS and CMBS assets including securities fraud claim in New York and California and noteholder claims in England.

Collapse of Arch-Cru funds

Acted for SPL Guernsey ICC Ltd in relation to the collapse of the Arch Cru funds and the related litigation both in the UK and Guernsey, including claims against the investment manager, directors, administrators and auditors of the fund.

Funds and financial services

Collapse of Arch-Cru funds

Acted for SPL Guernsey ICC Ltd in relation to the collapse of the Arch Cru funds and the related litigation both in the UK and Guernsey, including claims against the investment manager, directors, administrators and auditors of the fund.

Blue Skye Special Opportunities Fund

Acted for a number of defendants in proceeding brought by companies in the Fortress group. The claims related to the reorganisation of a €200 million fund structure and included allegations of dishonesty.

AIG Enhanced Variable Rate Fund

Acted for a private bank in proceedings brought by a high net worth individual based on the alleged mis-selling of this AIG fund and connected regulatory issues.

Private equity partnership dispute

Acting for former partner in dispute with well-known private equity house over leaver status and related carry and equity entitlements following move to another private equity house.

Litigation management role

Acting for a global asset manager in connection with a portfolio of RMBS and CMBS assets including management of noteholder claims in England and securities fraud claims in New York and California.

Pensions

Rectification of scheme rules

Acting for company in part 8 rectification proceedings relating to an amendment to the scheme rules relating to the age at which final salary benefits could be taken.

Solicitors negligence

Acting for pension fund in connection with claims in professional negligence against an international law firm arising from the negligent drafting of a deed of amendment.

Shareholder and prospectus claims

Advising a number of pension funds in connection with US counsel on group litigation orders, class actions, securities fraud and prospectus claims including under s.90 and s.90A of FSMA.

Accountancy firms

Accountants negligence

Acting for a property fund in a claim against a top four accountancy firm arising from a tax-led restructuring of the fund's principal property portfolio.

Fraud by UK accountants

Acting for high net worth individual in connection with claims against a firm of accountants and associated companies arising out of £30m of fictitious investments in offshore jurisdictions.

Arch Cru (auditors)

Acting for a Guernsey protected cell company and the underlying cells, in respect of the new board's investigation into the collapse of the "Arch Cru" investment structure, including significant claim against the auditors of the fund.

More: Accountancy firms

Law firms

US proceedings and transatlantic litigation

Supporting US counsel in connection with a number of US and transatlantic proceedings. This especially included providing expert evidence on English law, letters rogatory, freezing orders and enforcement of judgments/arbitral awards in Europe.

Professional negligence

Acting for a fund manager in connection with claims in professional negligence against a major law firm.

Professional liability

Acting for pension trustees in connection with claims in professional negligence against an international law firm arising from the negligent drafting of a deed of amendment to the scheme rules.

North America

Gold Reserve v Venezuela

Acting for Venezuela in defending the enforcement of a $700m Award made in an ICSID Additional Facility Rules arbitration brought by Gold Reserve, a North American mining group, relating to gold and copper mining rights in Venezuela.

Securities litigation

Acting for a global asset manager in conjunction with US counsel on multi-billion dollar securities fraud claims in New York and California relating to a portfolio of RMBS and CMBS assets.

Advice on English Law

Providing expert evidence on English law in a number of US proceedings and advising on prospectus claims brought in the US and the UK against English listed companies including under s.90 and s.90A FSMA.

Enforcement of judgments/arbitral awards

Acting for sovereign states and state owned entities in conjunction with US counsel in relation to enforcement proceedings in Europe and advising on international strategy.

Mobil v PDVSA

Working with US counsel in successfully discharging US $12bn freezing order in England and global strategy in relation to proceedings in New York, ICSID and ICC arbitrations between a subsidiary of Exxon Mobil and the Venezuelan state oil company.

ETI v Bolivia and Entel

Successfully discharging freezing order before the English Commercial Court and Court of Appeal arising out of ICSID arbitration proceedings and coordinating with US counsel in relation to proceedings in New York.

South America

Gold Reserve v Venezuela

Acting for Venezuela in defending the enforcement of a $700m Award made in an ICSID Additional Facility Rules arbitration brought by Gold Reserve, a North American mining group, relating to gold and copper mining rights in Venezuela.

Mobil v PDVSA

Working with US counsel in successfully discharging US $12bn freezing order in England and global strategy in relation to ICSID and ICC arbitrations between a subsidiary of Exxon Mobil and the Venezuelan state oil company.

ETI v Bolivia and Entel

Successfully discharging freezing order before the English Commercial Court and Court of Appeal arising out of ICSID Arbitration proceedings and coordinating with US counsel in relation to proceedings in New York.

Enforcement of judgments/arbitral awards

Acting for sovereign states and state owned entities in conjunction in relation to enforcement proceedings in England and advising on international strategy including in relation to ICSID and New York Convention enforcement.

Sovereign immunity

Advising a number of states and state owned entities on pre-emptive strategies to protect sovereign rights and avoid risks to sovereign assets including enforcement and interlocutory remedies.

Qatar

Investment bank

Acting for an investment bank in connection with a claim for misuse of sensitive commercial information and related regulatory issues in connection with a significant transaction.

Sovereign investments

Part of team providing litigation advice and support to an investment manager across a number of areas involving sovereign investments.

Risk management advice

Advising a bank on litigation, insolvency and regulatory issues in connection with a number of Shari'a finance transactions.