Investment funds
Collapse of XiO Group
Acted for the new management of the XiO Group following the collapse of the group and the related litigation in several jurisdictions including claims for bonuses and carry by former senior managers and employees.
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.
Dispute resolution
Collapse of XiO Group
Acted for the new management of the XiO Group following the collapse of the group and the related litigation in several jurisdictions including Cayman, Hong Kong and London, claims for bonuses and carry by former senior managers and employees.
Tchenguiz litigation
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.
Central Bank disputes
Acting for a Central Bank on multiple disputes including swaps and commodity trading disputes in arbitration, sovereign debt claims, freezing order and enforcement proceedings, sovereign immunity and authority disputes and custody disputes.
Commercial litigation
Group action
Acting for a number of European banks on group claims including potential GLO proceedings in the UK and related proceedings in other jurisdictions. The claims arise from investments in real estate made by borrowers and involve multiple third parties including developers, agents and professional advisers.
Collapse of XiO Group
Acted for the new management of the XiO Group following the collapse of the group and the related litigation in several jurisdictions including claims for bonuses and carry by former senior managers and employees.
Letters of Request
Acting for global financial institution in relation to Letter of Request issued by US Court to the English Court arising out of class action in which documents and witness testimony were sought.
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.
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.
Gold Reserve v Bolivarian Republic of Venezuela
Acting for Republic of Venezuela defence of enforcement of arbitral award arising from ICSID’s Additional Facility proceedings brought by a Canadian gold mining company to challenge Venezuela's revocation of environmental permits and the related termination of a gold and copper mining project.
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.
Mobil v PDVSA
Successfully discharging a $12 billion freezing order obtained from the English Commercial Court and advising on related proceedings arising from an investment treaty dispute under ICSID arbitration rules arising from the nationalisation of oil interests in the Orinoco belt.
Finance 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.
Corporate trustee
Advising corporate trustee of securitisation of residential mortgages on claims brought against originators of loans by underlying borrowers and internal waterfall and liability issues between originator and issuer.
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 €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.
More:
Professional and management liability
Fraud and asset recovery
Portfolio enforcement
Acting for originating lenders and debt acquiring companies in cross-border enforcement of loans including asset investigations, claims relating to trusts and transactions defrauding creditors.
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.