Regulatory litigation
Claims for mis-selling
Advising a well-known high street bank in relation to claims made against it for mis-selling a range of interest rate hedging products, as well as complaints made to the Financial Ombudsman. Advice included the detailed consideration of COBS rules.
Inter-broker dealers
Advised one of London’s leading financial inter-dealer brokers in relation to an investigation by the FCA arising out of allegations that trades had been conducted at off-market prices and unauthorised payments have been made in return for the receipt of favourable prices at the expense of counterparty banks.
UK and US LIBOR investigation
Represented an individual who was the subject of a Trans-Atlantic LIBOR investigation, led by the US Department of Justice, CFTC, FBI and the UK’s FSA and the SFO.
Commercial litigation
Essar steel dispute
Advising Ravi Ruia, Prashant Ruia, Sushil Baid and Uday Gujadhur in relation to the $1.6bn claim brought against them (and others) by ArcelorMittal USA LLC for conspiracy to defraud by unlawful means, together the related application made by the claimant company for a worldwide freezing order. The English proceedings are just one aspect of the high-profile and long-running Essar steel dispute, which involves proceedings spanning a number of years across multiple jurisdictions, including Cayman, Minnesota and Mauritius.
Vincent Tchenguiz and Robert Tchenguiz
Advised Vincent Tchenguiz, Robert Tchenguiz and certain trust companies associated with them in relation to the recovery of damages from the SFO and various other third parties, including Grant Thornton UK LLP and Kaupthing Bank Hf, following the highly publicised unlawful arrests and wrongful searches of the brothers’ office and home addresses by the SFO in March 2010. In particular, advice included the consideration of matters concerning collateral use of disclosure in other proceedings, third party disclosure as well as security for costs.
Breach of licence and SPA dispute
Advising a UK public limited company in relation to claims made against a Kosovan company for alleged breaches of a licence agreement relating to the operation of a marble quarry in Kosovo, as well as related claims for specific performance pursuant to the terms of a Share Purchase Agreement.
Asset management company
Advising in relation to a claim in arbitration for sums in excess of £20 million in relation to the terms of a directors and officers' liability insurance policy.
Enforcement proceedings
Acting for a well-known high street bank in relation to enforcement proceedings arising out of defaulted mortgage agreements, including advice in relation to Third Party Debt Orders.
More: Commercial litigation
Corporate trusts
GLAS Trust Corporation Limited
Advising GLAS as Note Trustee in relation to a complex securitisation transaction, Fairhold Securitisation Limited. The advice concerned an approach by a purported noteholder to issue an enforcement direction and the subsequent purported appointment of administrators over the Issuer Company.
Corporate Trustee
Advising in relation to matters arising from a rights offer announced by the Company in November 2018 and notified to the Trustee at very short notice such that a large number of shareholders were not able to take up the rights offer. A number of shareholdings were therefore diluted and claims followed.
Liquidator
Advising the liquidator in relation to the redemption of 12 RMBS transactions in accordance with the terms of the Notes in circumstances where a related Tender Offer had been issued by a purported Noteholder.
Solicitors' fees debt recovery
Advising a major law firm in relation to claims made against its former trustee clients for the recovery of unpaid fees. The matter concerns complex issues of trust law, including the respective liability of successor trustee companies.