The Legal 500

Position

Stephen Moriarty has a very broad commercial litigation and advisory practice, with a particular emphasis on banking and financial services, professional negligence disputes, insurance and reinsurance disputes, and international commercial arbitration. In the field of banking and financial services, he has wide experience over a broad area, including domestic and investment banking, project finance, futures and derivatives trading, securitisations, and the financial markets generally; together with regulatory and other proceedings involving financial intermediaries. Among other things, he appeared in the House of Lords in Barclays Bank v Boulter [I999]1 WLR 1919; he acted for the London Metal Exchange in a number of proceedings arising out of the Sumitomo copper affair; and he appeared for Terra Firma in proceedings arising out of the Box Clever securitisation. Most recently, he acted for Deutsche Bank AG in its appeal to the Court of Appeal on questions of European and private international law (Deutsche Bank AG v Asia Pacific Communications Inc. [2008] 2 Lloyd’s Rep. 619). In the field of insurance and professional negligence, he has appeared in some of the leading House of Lords authorities over the past two decades, including Caparo v Dickman [I990] 2 AC 605 (accountants’ duty of care), Lord Napier v Hunter [I993] AC 145 (insurers’ right of subrogation), Henderson v Merrett [1995] 2 AC 605 (underwriting agents’ duty of care); as well as appearing for parties in all manner of disputes involving accountants, bankers, solicitors, brokers, insurers and reinsurers. He also acted for the Secretary of State for Trade and Industry in a series of substantial professional negligence actions arising out of the collapse of the Barlow Clowes group. Most recently, he acted for Linklaters in proceedings brought against them by the Levicom group. In the field of arbitration, he has extensive experience of appearing in all manner of arbitration proceedings, both ad hoc and institutional (ICC, LClA and AAA). He appeared in the Privy Council in Aegis Ltd v European Re [2003] 1 WLR 1041 (duty of confidentiality in arbitrations), and more recently, acted for the mutual war risk insurer in a number or arbitration appeals to the Commercial Court (Sea Trade Maritime Corporate v Hellenic Mutual War Risks Association (Bermuda) Limited (‘The Athena’) [2006] 2 Lloyd’s Rep 147, and Sea Trade Maritime Corporation v Hellenic Mutual Ware Risks Association (Bermuda) (‘The Athena’) (No. 2)) [2007] 1 Lloyd’s Rep. 280. Other recent arbitrations in which he has been involved include a railway industry dispute arising out of the Hatfield train disaster, in which he sat as arbitrator; an international defence-related dispute in which he appeared in the US for a major defence contractor; and an international arbitration arising out of the misappropriation of a fleet of commercial aircraft in which the issues were governed entirely by Mexican law.

Career

Called Middle Temple 1986; QC 1999; fellow and tutor in law, Exeter College, Oxford, 1979-86; co-editor, ‘Chitty on Contracts’ (insurance chapter), 26th and 27th editions; contributor, ‘Laundering & Tracing’, OUP 1995; general editor ‘Commercial Court Procedure’ (Sweet & Maxwell).

Member

Commercial Bar Association (COMBAR), member of executive committee and chairman of COMBAR’s North American Committee; London Common Law and Commercial Bar Association.

Education

Brasenose College, Oxford (1977 BA; 1978 BCL; 1978 Vinerian Scholarship; 1982 MA).

Leisure

Music, opera, theatre; member of Reform Club.

Practice Areas

Banking; Litigation - commercial; Professional negligence