3 Verulam Buildings is ‘a great set for banking disputes‘ with expertise in ‘traditional finance to crypto and everything in between‘. Clients commend its ‘wealth of talented barristers at all levels who all deliver top quality work product and excellent service’. The set’s silks and juniors regularly act on some of the financial market’s defining cases, with a recent example including Vatche Manoukian v Societe Generale Banque Liban, in which Ian Wilson KC and Rebecca Zaman are representing Société Générale Banque Liban and Bank Audi in a significant dispute concerning access to funds denominated in US dollars held by Lebanese banks that, owing to the shortage of hard currency in the jurisdiction, Lebanese banks are not permitting to be withdrawn. A team including Ewan McQuater KC and David Quest KC is advising Dubai Islamic Bank and Noor Bank, in NMC Healthcare Limited v Dubai Islamic Bank PJSC and Noor Bank PJSC before the Abu Dhabi Global Markets courts, arising from the insolvency of NMC Healthcare, the Middle East’s largest private healthcare provider.
Banking and finance (including consumer credit) in
London Bar3 Verulam Buildings
Testimonials
Set
‘3VB is a great set for banking disputes – it has a great stable of top silks and strong juniors.‘
‘They remain strong in connection with all matters involving finance – from traditional finance to crypto and everything in between.’
‘Excellent. The set has a wealth of talented barristers at all levels who all deliver top quality work product and excellent service. They are also all really nice people to work with, un-stuffy and genuinely collaborative, which is testament to the culture in chambers. The training sessions offered are relevant, interesting and always add value, whether delivered to instructing solicitors or directly to clients.’
‘3VB is a really excellent set with great strength in depth. We always have a good experience and I think they work hard at that. They are not arrogant or pleased with themselves like many other top sets. They value the relationship, try to help and provide value.’
‘A go-to set for financial services and general commercial disputes with barristers of high calibre across all levels of seniority.’
Clerking
‘Steve Penson and Stuart Pullum do a good job. Lucy Burrows is savvy and personable. ‘
Fountain Court Chambers
Fountain Court Chambers is ‘the pre-eminent set for banking litigation‘ with ‘strength and depth all the way up and down the list of members‘. While the set’s members regularly act on the market’s largest banking disputes, clients note that ‘they are always also happy to assist with the smaller matters‘. A major recent case was Law Debenture v Ukraine, a claim brought by the Russian state concerning a $3bn eurobond loan default, in which Bankim Thanki KC and Simon Atrill KC represented Ukraine before the Supreme Court, whose judgment was pending at time of writing. In Federal Republic of Nigeria v JP Morgan Chase, Rosalind Phelps KC and David Murray are defending JP Morgan against a US$870m claim relating to bank deposits made as part of an allegedly corrupt oil deal involving Malabu Oil and Gas, a company linked to disgraced Sane Abacha-era Nigerian oil minister Dan Etete.
Testimonials
Set
‘I work have worked with several counsel from Fountain Court, and they have all been excellent. What I love about Fountain Court, in particular, in addition to the quality of the chambers they are always also happy to assist with the smaller matters. Their juniors are also top notch.’
‘Fountain Court is without doubt one of the leading sets for financial services. They have genuine specialists at all levels of qualification and they are always on my short list when seeking counsel.’
‘I think that Fountain Court Chambers is THE pre-eminent set in this area. There is strength and depth all the way up and down the list of members. They are a delight to work with, user friendly and very down to earth.’
‘Fountain remain the pre-eminent set for Banking litigation.’
‘Fountain Court have enormous bench strength and can be counted on to provide top-tier advice.’
Clerking
‘Very slick, very professional (especially Sian Huckett).
One Essex Court
With ‘a barrister for every case‘ One Essex Court has established itself as a ‘go to set for complex, high value, commercial disputes‘. Unlike some of its top tier rivals, the set primarily focuses on larger multi jurisdictional claims, but its successful track record makes its members top choices for many leading banks. Notable highlights include Deutsche Bank AG London v Comune di Busto Arsizio, in which Sonia Tolaney KC and Andrew Lodder successfully assisted Deutsche Bank in convincing the UK High Court that its ruling could diverge from an Italian Supreme Court decision concerning a similar case, Banca Nazionale Del Lavoro S.p.A v Municipality of Cattolica. Multiple members are involved in Vestia v various banks, in which the Dutch housing association is attempting to recover €2bn in losses arising from speculative derivatives trading by its treasurer; Rhodri Davies KC is leading a five member team, including Adam Rushworth, for Vestia, with Tolaney KC and James MacDonald KC among those acting for the banks.
Testimonials
Set
‘Great bench depth at all levels – especially junior silk but also very impressive at all levels of juniors which bodes well for the set going forward.’
‘One of the strongest commercial sets at the bar (if not the strongest). Very high quality across the board; a number of star juniors.’
‘One of the super-sets. A barrister for every case.’
Clerking
‘Rob Smith is fantastic – practical, helpful and a real pleasure to deal with.’
‘Excellent – commercial, professional they don’t overpromise, trustworthy.’
‘They are all very friendly and helpful. They respond quickly when needed.’
Brick Court Chambers
Brick Court Chambers is ‘undoubtedly a go-to set for banking‘, and ‘packed with stars of the present and future who are also a pleasure to deal with and loved by clients’. Members regularly act for and against the banks on major claims. In Privatbank v Kolomoisky and others, Mark Howard KC is leading a team of six members, including Geoffrey Kuehne, on behalf of Igor Kolomoisky, one of the former owners of a nationalised Ukrainian bank who has been accused of misappropriating US$2.4bn by arranging fraudulent loans. Tim Lord KC, who has an excellent reputation for taking on banks, is leading Kyle Lawson in Leeds City Council and Others v Barclays Bank PLC, in which seven city councils are seeking rescission of multi-million pounds of long-dated loans with Barclays on the grounds of the bank’s allegedly fraudulent misrepresentations of the LIBOR benchmark.
Testimonials
Set
‘Second-to-none. Packed with stars of the present and future who are also a pleasure to deal with and loved by clients.‘
‘Undoubtedly a go to set for banking.’
‘Approachable, good strength in depth, broad range of expertise – one of the top sets.’
‘Brick Court is obviously a top set and offers a Rolls-Royce service.’
‘Excellent set.’
Clerking
‘They are brilliant, and they rightly focus heavily on building relationships with the key firms in which they can be relied upon to find solutions.’
Essex Court Chambers
Essex Court Chambers is ‘an up and coming power in the banking disputes space, leveraging off its traditional strength in fraud‘ and fielding ‘lots of exceptional people’. Many disputes have a major cross-border dimension, such as Republic of Mozambique v Credit Suisse, in which Joe Smouha KC, Nathan Pillow KC and Ciaran Keller are representing Mozambique in the ‘Tuna Bond’ scandal relating to government backed loans arranged by Credit Suisse that pushed Mozambique into a debt crisis. James Willan KC is also representing Privatbank in JSC Commercial Bank PrivatBank v Kolomoisky, a claim against two former owners of the Ukrainian bank who allegedly orchestrated a fraudulent scheme to misappropriate funds.
Testimonials
Set
‘They are a leading practice for banking disputes.’
‘Essex Court is very commercial, and is an up and coming power in the banking disputes space, leveraging off its traditional strength in fraud.’
‘Exceptional set with lots of exceptional people – some of them being astonishingly good. Real market leaders.’
‘A top set and they are as strong for banking work as they are for civil fraud and commercial disputes more generally.’
‘Great set – full of stars.’
Clerking
‘Very impressive. Joe Ferrigno is a class act and his team is good.’
South Square
South Square is ‘undeniably the leading set of barristers for restructuring and insolvency and is very strong in banking and finance‘. The restructuring work has led it onto some of the largest banking cases in the market, typically with significant cross-border and civil fraud elements. High profile examples include Primeo Fund v HSBC in which members, including Tom Smith KC, appeared before the Privy Council, for Primeo, in relation to a US$2bn claim against HSBC arising out of the Madoff fraud, with William Willson acting for the defendant bank. Daniel Bayfield KC and David Allison KC are also appearing on opposing sides of Emerald Pasture DAC v Cassini SAS, a dispute concerning lender entitlement to financial information relating to the borrower group under a Senior Facilities Agreement.
Testimonials
Set
‘South Square is undeniably the leading set of barristers for restructuring and insolvency and is very strong in banking and finance.’
‘South Square Chambers is a very strong set. Historically, it was very much focused on Insolvency and restructuring but its areas of expertise have broadened very considerably over the last 10 or more years to cover most areas of high value commercial litigation, certainly (but not only) in the financial services sector.‘
‘It remains the go-to set for insolvency work. They are very strong at all levels.‘
‘South Square is by far the leading insolvency set in the country. I use other chambers but when dealing with complex or no obvious outcome I would instruct South Square. They have quality at all levels, are well connected to the current trends of thinking, are prepared to offer a view on things and will provide training and development opportunities for others. They are also not phased by being challenged on a particular point.’
Clerking
‘Aside from the ability of many of its tenants, the single most important factor in South Square being my go to chambers is the strength of the clerking there. I have over the years, developed a very strong relationship with the team and always find them responsive and understanding of the pressures placed on solicitors by the lay client (for example in relation to fees). They are all very good but Jim Costa and Dylan Playfoot require special commendation, closely followed by Marco Malatesta and Mike Killick.’
‘The clerks are excellent. When you have a case on the clerks are really effective and getting everything to where it needs to be and getting the orders back quickly.’
4 Stone Buildings
4 Stone Buildings is ‘an excellent set with strength in depth at all levels’. Its members regularly advise on civil and regulatory banking disputes, as well as major insolvency-related cases. Notable matters include Stanford International Bank (SIB) v HSBC in which Andrew de Mestre KC is representing the liquidators of the Ponzi scheme ran by Allen Stanford in a case (set for trial in 2023) concerning allegations that HSBC breached its Quincecare duties to SIB. In Syndicate Bank v Dansingani John Brisby KC and Alastair Tomson acted on a long-running litigation on behalf of the UK branch of an Indian bank which went to the Court of Appeal in 2021.
Testimonials
Set
‘Excellent chambers -one of the best and as a firm we have used several of their barristers.’
‘The chambers develop very close-knit bonds to their clients and it goes a long way with keeping a long term relationship. They have never failed myself as a client whenever they have suggested counsel.’
‘An excellent set with strength in depth at all levels. I always find the counsel easily accessible and never stand on ceremony when it comes to solving urgent problems.’
‘4 Stone Buildings are an outstanding Chancery set. Most (if not all) of our fee earners regularly instruct their Counsel at all levels, from the most junior members up to Silks. Without exception, their barristers are friendly, easy to work with, and supremely confident and gifted lawyers. They can be flexible and innovative with regard to fee structures and rates, and their clerks always ensure that someone is available, even on very short notice. They always recommend the right person for the job.’
‘4 Stone Buildings’ strength lies in the quality of counsel at both ends of the spectrum.’
Clerking
‘The clerks Ben Lashmar and Ryan Tunkel are at the top of their game. Very helpful and accommodating and will match counsel with the type of work.’
Gough Square Chambers
Gough Square Chambers is undoubtedly one of the top choices for consumer credit law, with ‘undoubtedly more dedicated consumer credit barristers than any other‘. The set’s members are ‘true experts in their field and offer up a wealth of knowledge across the finance and banking sector‘. Recent high profile cases include Moises Gertner v CFL Finance Limited, in which Jonathan Kirk KC, Fred Philpott and Lee Finch are acting for the primary defendant in an enforcement by a financial services company of a £500m debt as part of insolvency proceedings. Iain MacDonald is also acting for the defendant, a peer-to-peer lending platform, in Milne v Open Access Finance Ltd, a High Court claim concerning alleged regulatory breaches and misrepresentation.
Testimonials
Set
‘Gough Square Chambers are the go to set for our finance clients. Counsel have almost always been available in the time frames that we have to work to. Gough Square need not advertise; they offer great value for being one of the top finance sets.’
‘One of the leading consumer credit sets.’
‘The set is undoubtedly the leading consumer credit and finance set. There are undoubtedly more dedicated consumer credit barristers than any other. There is in-house training and the set provides seminars for other lawyers on the subject.’
‘My go to set for anything credit related. All members are true experts in their field and offer up a wealth of knowledge across the finance/banking sector. Generally very good availability of chosen counsel and nearly always an alternative to recommend if chosen counsel is unavailable.’
‘Gough square is a very well run chambers – they are at reach and responsive and always accommodating. There is never a delay in the coming back to us and we are always pleased with their service and results.’
Clerking
‘Jack Bradshaw is very friendly and approachable and will always do what he can to assist.’
Henderson Chambers
Henderson Chambers is another ‘go-to chambers for consumer finance litigation’. The set boast some of the most experienced senior juniors in the market, including Julia Smith and William Hibbert, who are regularly instructed by retail banks and other consumer lenders on contentious and non-contentious issues. Hibbert is currently leading Harrison Denner on behalf of several claimants a potential group action by “mortgage prisoners”, individuals who held mortgages with Northern Rock prior to its nationalisation and cannot refinance their properties despite being up to date on payments. Another major mandate has been Hodgson v Creation Consumer Finance Limited, in which Toby Riley-Smith KC is representing the defendant against a test case brought by a homeowner who bought solar panels on finance, following alleged misrepresentations from the salesman, and is claiming against the finance company after the supplier had collapsed. Thomas Samuels recently joined from Gough Square Chambers.
Testimonials
Set
‘Henderson Chambers is my go-to Chambers for consumer finance litigation.’
‘Very good set; we use them regularly.’
Clerking
‘Excellent – from top to bottom one of the best clerks’ rooms.’
Quadrant Chambers
Quadrant Chambers is a ‘strong set in general commercial litigation and banking litigation‘ and is commended for its ‘excellent training programmes, courses and technical content and know how’. Members regularly act for and against the banks, including disputes with elements of fraud, trade finance and insolvency. Paul Downes KC leads a team including Emily Saunderson and Simon Oakes in Liberty Steel v Various – acting for Liberty Steel entities in various proceedings against lenders including Trafigura, Arcelormittal, and Greensill Capital, which collapsed in 2021. Nicola Allsop acted successfully as sole counsel for the respondent bank in Sharpoorji Pallonji v I&M Bank Rwanda Plc, an application concerning a demand made on a performance bond.
Testimonials
Set
‘One of the pre-eminent sets and very good strength in depth.’
‘Well regarded set of leading experts in their fields. Excellent training programmes, courses and technical content and know how – demonstrating that the set comprises a number of thought leaders.’
‘Very accommodating set with an array of experience across areas. Their YouTube insights are fantastic.’
‘Quadrant are always a pleasure to deal with.’
‘Strong set in general commercial litigation and banking litigation.’
Clerking
‘Daniel Westerman is fantastic.’
Twenty Essex
Twenty Essex is a ‘go-to set for high-value banking and finance work, both in litigation and arbitration‘. The members are noted for their ‘broad skill set and are able to help us on a range of cases ranging from high volume caseloads to large and complex matters‘. A major dispute before the Court of Appeal was Canada Square v Potter, a high profile PPI mis-selling test case, in which Charles Kimmins KC led a team including Sean Snook for Citibank as defendant. Luke Pearce acted for the defendants (having previously been led by Philip Edey KC) in Victor Pisante; Swindon Holdings & Finance Ltd; BCA Shipping Investments Corporation; Castor Navigation Ltd v George Logothetis; Lomar Corporation Ltd ; Lomar Shipmanagement Ltd; Libra Holdings, a Commercial Court case stemming from various investments in the shipping market and in Piraeus Bank.
Testimonials
Set
‘Twenty Essex is my go-to set for high-value banking and finance work, both in litigation and arbitration. They have outstanding barristers at all levels and counsel is always available to assist.’
‘Twenty Essex is a set we use regularly, and we have a good relationship with the counsel and clerking teams. Counsel have a broad skill set and are able to help us on a range of cases ranging from high volume caseloads to large and complex matters.’
‘Twenty Essex are our current go to chambers for banking and finance and commercial litigation.’
Clerking
‘Back office runs very smoothly and clerks are very efficient and helpful.’
‘Very responsive, particularly Arron Zitver.’
‘Their clerks are impressive and they offer serious strength in depth.’
XXIV Old Buildings
XXIV Old Buildings is ‘a strong set for banking‘, offering ‘brilliant minds and real strength across the board‘. The set’s members have particularly good expertise in offshore, fraud and insolvency related banking disputes. A major ongoing case is Ivanishvili v Credit Suisse Life (Bermuda) before the Bermuda Commercial Court, in which Stephen Moverley Smith KC and Sarah Bayliss are acting for the defendant life insurance company, a subsidiary of Credit Suisse, in a claim linked to an alleged investment fraud brought by Bidzina Ivanishvili, a former president of Georgia. Edward Cumming KC is representing the claimants in Elite Property Holdings v Barclays Bank Plc regarding an alleged unlawful means conspiracy between Barclays and a leading accountancy firm to place the claimants into administration. Members such as Alexander Pelling and Francis Tregear KC have good expertise in Middle Eastern related banking disputes.
Testimonials
Set
‘They are a strong set for banking.’
‘Strong chancery and insolvency chambers, with brilliant minds and real strength across the board.’
Clerking
‘Paul Horsfield is doing a great job as senior clerk.’
‘Extremely helpful, go above and beyond to provide excellent service.’
Blackstone Chambers
Blackstone Chambers has ‘real strength in depth’ for banking and finance disputes. Many of the set’s senior members have market-leading credentials for major civil and regulatory issues, including fraud claims. Notable work includes Andrew Green KC‘s role acting for the Governor of the Bank of England in the Maxwellisation process relating to Dame Elizabeth Gloster’s report into the failure of London Capital & Finance, an issuer of mini-bonds which is alleged to have been a Ponzi scheme. Javan Herberg KC is representing UK Asset Management/Northern Rock Asset Management dealing with threatened very large group claims by “mortgage prisoners”. Andrew Hunter KC was among those representing Privatbank in Privatbank v Kolomoisky and ors, concerning an alleged scheme perpetrated by the defendants to misappropriate US$2 billion from the Ukrainian Bank. Andrew George KC is also highly active in the area.
Testimonials
Set
‘They have real strength in depth.’
‘Very good and a leading chambers’
Clerking
‘Clerks are immediately responsive and pleasant to deal with.’
‘Helpful and user-friendly clerks.‘
Serle Court
Serle Court stands out for offshore banking and finance, and is making a strong name for Middle Eastern matters, with ‘considerable depth in quality and one of the few offering genuine specialism in DIFC Court work‘. Rupert Reed KC is particularly active on this front and represented First Abu Dhabi Bank in First Abu Dhabi Bank PJSC and FAB Securities LLC v Larmag Holdings, which involved resisting a freezing injunction with major jurisdictional implications for the DIFC. Philip Marshall KC has also been leading Simon Hattan for one of the defendants in The Public Institution for Social Security v Al-Rajaan, involving allegations of bribery and fraud in respect of banking and investments by Kuwait’s state pension fund. David Blayney KC continues to be a major figure in the banking space.
Testimonials
Set
‘The chambers appears to have considerable depth in quality and one of the few offering genuine specialism in DIFC Court work.’
‘Probably the best of the commercial chancery sets.’
‘Serle Court has increasing bench strength, with number of juniors coming through to make a name for themselves in complex banking and finance and Middle Eastern work.’
Clerking
‘They have the best clerks anywhere.’
‘Service was admirably quick and efficient.’
3 Verulam Buildings
Testimonials
Set
‘3VB is a great set for banking disputes – it has a great stable of top silks and strong juniors.‘
‘They remain strong in connection with all matters involving finance – from traditional finance to crypto and everything in between.’
‘Excellent. The set has a wealth of talented barristers at all levels who all deliver top quality work product and excellent service. They are also all really nice people to work with, un-stuffy and genuinely collaborative, which is testament to the culture in chambers. The training sessions offered are relevant, interesting and always add value, whether delivered to instructing solicitors or directly to clients.’
‘3VB is a really excellent set with great strength in depth. We always have a good experience and I think they work hard at that. They are not arrogant or pleased with themselves like many other top sets. They value the relationship, try to help and provide value.’
‘A go-to set for financial services and general commercial disputes with barristers of high calibre across all levels of seniority.’
Clerking
‘Steve Penson and Stuart Pullum do a good job. Lucy Burrows is savvy and personable. ‘
Fountain Court Chambers
Fountain Court Chambers is ‘the pre-eminent set for banking litigation‘ with ‘strength and depth all the way up and down the list of members‘. While the set’s members regularly act on the market’s largest banking disputes, clients note that ‘they are always also happy to assist with the smaller matters‘. A major recent case was Law Debenture v Ukraine, a claim brought by the Russian state concerning a $3bn eurobond loan default, in which Bankim Thanki KC and Simon Atrill KC represented Ukraine before the Supreme Court, whose judgment was pending at time of writing. In Federal Republic of Nigeria v JP Morgan Chase, Rosalind Phelps KC and David Murray are defending JP Morgan against a US$870m claim relating to bank deposits made as part of an allegedly corrupt oil deal involving Malabu Oil and Gas, a company linked to disgraced Sane Abacha-era Nigerian oil minister Dan Etete.
Testimonials
Set
‘I work have worked with several counsel from Fountain Court, and they have all been excellent. What I love about Fountain Court, in particular, in addition to the quality of the chambers they are always also happy to assist with the smaller matters. Their juniors are also top notch.’
‘Fountain Court is without doubt one of the leading sets for financial services. They have genuine specialists at all levels of qualification and they are always on my short list when seeking counsel.’
‘I think that Fountain Court Chambers is THE pre-eminent set in this area. There is strength and depth all the way up and down the list of members. They are a delight to work with, user friendly and very down to earth.’
‘Fountain remain the pre-eminent set for Banking litigation.’
‘Fountain Court have enormous bench strength and can be counted on to provide top-tier advice.’
Clerking
‘Very slick, very professional (especially Sian Huckett).
One Essex Court
With ‘a barrister for every case‘ One Essex Court has established itself as a ‘go to set for complex, high value, commercial disputes‘. Unlike some of its top tier rivals, the set primarily focuses on larger multi jurisdictional claims, but its successful track record makes its members top choices for many leading banks. Notable highlights include Deutsche Bank AG London v Comune di Busto Arsizio, in which Sonia Tolaney KC and Andrew Lodder successfully assisted Deutsche Bank in convincing the UK High Court that its ruling could diverge from an Italian Supreme Court decision concerning a similar case, Banca Nazionale Del Lavoro S.p.A v Municipality of Cattolica. Multiple members are involved in Vestia v various banks, in which the Dutch housing association is attempting to recover €2bn in losses arising from speculative derivatives trading by its treasurer; Rhodri Davies KC is leading a five member team, including Adam Rushworth, for Vestia, with Tolaney KC and James MacDonald KC among those acting for the banks.
Testimonials
Set
‘Great bench depth at all levels – especially junior silk but also very impressive at all levels of juniors which bodes well for the set going forward.’
‘One of the strongest commercial sets at the bar (if not the strongest). Very high quality across the board; a number of star juniors.’
‘One of the super-sets. A barrister for every case.’
Clerking
‘Rob Smith is fantastic – practical, helpful and a real pleasure to deal with.’
‘Excellent – commercial, professional they don’t overpromise, trustworthy.’
‘They are all very friendly and helpful. They respond quickly when needed.’
Brick Court Chambers
Brick Court Chambers is ‘undoubtedly a go-to set for banking‘, and ‘packed with stars of the present and future who are also a pleasure to deal with and loved by clients’. Members regularly act for and against the banks on major claims. In Privatbank v Kolomoisky and others, Mark Howard KC is leading a team of six members, including Geoffrey Kuehne, on behalf of Igor Kolomoisky, one of the former owners of a nationalised Ukrainian bank who has been accused of misappropriating US$2.4bn by arranging fraudulent loans. Tim Lord KC, who has an excellent reputation for taking on banks, is leading Kyle Lawson in Leeds City Council and Others v Barclays Bank PLC, in which seven city councils are seeking rescission of multi-million pounds of long-dated loans with Barclays on the grounds of the bank’s allegedly fraudulent misrepresentations of the LIBOR benchmark.
Testimonials
Set
‘Second-to-none. Packed with stars of the present and future who are also a pleasure to deal with and loved by clients.‘
‘Undoubtedly a go to set for banking.’
‘Approachable, good strength in depth, broad range of expertise – one of the top sets.’
‘Brick Court is obviously a top set and offers a Rolls-Royce service.’
‘Excellent set.’
Clerking
‘They are brilliant, and they rightly focus heavily on building relationships with the key firms in which they can be relied upon to find solutions.’
Essex Court Chambers
Essex Court Chambers is ‘an up and coming power in the banking disputes space, leveraging off its traditional strength in fraud‘ and fielding ‘lots of exceptional people’. Many disputes have a major cross-border dimension, such as Republic of Mozambique v Credit Suisse, in which Joe Smouha KC, Nathan Pillow KC and Ciaran Keller are representing Mozambique in the ‘Tuna Bond’ scandal relating to government backed loans arranged by Credit Suisse that pushed Mozambique into a debt crisis. James Willan KC is also representing Privatbank in JSC Commercial Bank PrivatBank v Kolomoisky, a claim against two former owners of the Ukrainian bank who allegedly orchestrated a fraudulent scheme to misappropriate funds.
Testimonials
Set
‘They are a leading practice for banking disputes.’
‘Essex Court is very commercial, and is an up and coming power in the banking disputes space, leveraging off its traditional strength in fraud.’
‘Exceptional set with lots of exceptional people – some of them being astonishingly good. Real market leaders.’
‘A top set and they are as strong for banking work as they are for civil fraud and commercial disputes more generally.’
‘Great set – full of stars.’
Clerking
‘Very impressive. Joe Ferrigno is a class act and his team is good.’
South Square
South Square is ‘undeniably the leading set of barristers for restructuring and insolvency and is very strong in banking and finance‘. The restructuring work has led it onto some of the largest banking cases in the market, typically with significant cross-border and civil fraud elements. High profile examples include Primeo Fund v HSBC in which members, including Tom Smith KC, appeared before the Privy Council, for Primeo, in relation to a US$2bn claim against HSBC arising out of the Madoff fraud, with William Willson acting for the defendant bank. Daniel Bayfield KC and David Allison KC are also appearing on opposing sides of Emerald Pasture DAC v Cassini SAS, a dispute concerning lender entitlement to financial information relating to the borrower group under a Senior Facilities Agreement.
Testimonials
Set
‘South Square is undeniably the leading set of barristers for restructuring and insolvency and is very strong in banking and finance.’
‘South Square Chambers is a very strong set. Historically, it was very much focused on Insolvency and restructuring but its areas of expertise have broadened very considerably over the last 10 or more years to cover most areas of high value commercial litigation, certainly (but not only) in the financial services sector.‘
‘It remains the go-to set for insolvency work. They are very strong at all levels.‘
‘South Square is by far the leading insolvency set in the country. I use other chambers but when dealing with complex or no obvious outcome I would instruct South Square. They have quality at all levels, are well connected to the current trends of thinking, are prepared to offer a view on things and will provide training and development opportunities for others. They are also not phased by being challenged on a particular point.’
Clerking
‘Aside from the ability of many of its tenants, the single most important factor in South Square being my go to chambers is the strength of the clerking there. I have over the years, developed a very strong relationship with the team and always find them responsive and understanding of the pressures placed on solicitors by the lay client (for example in relation to fees). They are all very good but Jim Costa and Dylan Playfoot require special commendation, closely followed by Marco Malatesta and Mike Killick.’
‘The clerks are excellent. When you have a case on the clerks are really effective and getting everything to where it needs to be and getting the orders back quickly.’
4 Stone Buildings
4 Stone Buildings is ‘an excellent set with strength in depth at all levels’. Its members regularly advise on civil and regulatory banking disputes, as well as major insolvency-related cases. Notable matters include Stanford International Bank (SIB) v HSBC in which Andrew de Mestre KC is representing the liquidators of the Ponzi scheme ran by Allen Stanford in a case (set for trial in 2023) concerning allegations that HSBC breached its Quincecare duties to SIB. In Syndicate Bank v Dansingani John Brisby KC and Alastair Tomson acted on a long-running litigation on behalf of the UK branch of an Indian bank which went to the Court of Appeal in 2021.
Testimonials
Set
‘Excellent chambers -one of the best and as a firm we have used several of their barristers.’
‘The chambers develop very close-knit bonds to their clients and it goes a long way with keeping a long term relationship. They have never failed myself as a client whenever they have suggested counsel.’
‘An excellent set with strength in depth at all levels. I always find the counsel easily accessible and never stand on ceremony when it comes to solving urgent problems.’
‘4 Stone Buildings are an outstanding Chancery set. Most (if not all) of our fee earners regularly instruct their Counsel at all levels, from the most junior members up to Silks. Without exception, their barristers are friendly, easy to work with, and supremely confident and gifted lawyers. They can be flexible and innovative with regard to fee structures and rates, and their clerks always ensure that someone is available, even on very short notice. They always recommend the right person for the job.’
‘4 Stone Buildings’ strength lies in the quality of counsel at both ends of the spectrum.’
Clerking
‘The clerks Ben Lashmar and Ryan Tunkel are at the top of their game. Very helpful and accommodating and will match counsel with the type of work.’
Gough Square Chambers
Gough Square Chambers is undoubtedly one of the top choices for consumer credit law, with ‘undoubtedly more dedicated consumer credit barristers than any other‘. The set’s members are ‘true experts in their field and offer up a wealth of knowledge across the finance and banking sector‘. Recent high profile cases include Moises Gertner v CFL Finance Limited, in which Jonathan Kirk KC, Fred Philpott and Lee Finch are acting for the primary defendant in an enforcement by a financial services company of a £500m debt as part of insolvency proceedings. Iain MacDonald is also acting for the defendant, a peer-to-peer lending platform, in Milne v Open Access Finance Ltd, a High Court claim concerning alleged regulatory breaches and misrepresentation.
Testimonials
Set
‘Gough Square Chambers are the go to set for our finance clients. Counsel have almost always been available in the time frames that we have to work to. Gough Square need not advertise; they offer great value for being one of the top finance sets.’
‘One of the leading consumer credit sets.’
‘The set is undoubtedly the leading consumer credit and finance set. There are undoubtedly more dedicated consumer credit barristers than any other. There is in-house training and the set provides seminars for other lawyers on the subject.’
‘My go to set for anything credit related. All members are true experts in their field and offer up a wealth of knowledge across the finance/banking sector. Generally very good availability of chosen counsel and nearly always an alternative to recommend if chosen counsel is unavailable.’
‘Gough square is a very well run chambers – they are at reach and responsive and always accommodating. There is never a delay in the coming back to us and we are always pleased with their service and results.’
Clerking
‘Jack Bradshaw is very friendly and approachable and will always do what he can to assist.’
Henderson Chambers
Henderson Chambers is another ‘go-to chambers for consumer finance litigation’. The set boast some of the most experienced senior juniors in the market, including Julia Smith and William Hibbert, who are regularly instructed by retail banks and other consumer lenders on contentious and non-contentious issues. Hibbert is currently leading Harrison Denner on behalf of several claimants a potential group action by “mortgage prisoners”, individuals who held mortgages with Northern Rock prior to its nationalisation and cannot refinance their properties despite being up to date on payments. Another major mandate has been Hodgson v Creation Consumer Finance Limited, in which Toby Riley-Smith KC is representing the defendant against a test case brought by a homeowner who bought solar panels on finance, following alleged misrepresentations from the salesman, and is claiming against the finance company after the supplier had collapsed. Thomas Samuels recently joined from Gough Square Chambers.
Testimonials
Set
‘Henderson Chambers is my go-to Chambers for consumer finance litigation.’
‘Very good set; we use them regularly.’
Clerking
‘Excellent – from top to bottom one of the best clerks’ rooms.’
Quadrant Chambers
Quadrant Chambers is a ‘strong set in general commercial litigation and banking litigation‘ and is commended for its ‘excellent training programmes, courses and technical content and know how’. Members regularly act for and against the banks, including disputes with elements of fraud, trade finance and insolvency. Paul Downes KC leads a team including Emily Saunderson and Simon Oakes in Liberty Steel v Various – acting for Liberty Steel entities in various proceedings against lenders including Trafigura, Arcelormittal, and Greensill Capital, which collapsed in 2021. Nicola Allsop acted successfully as sole counsel for the respondent bank in Sharpoorji Pallonji v I&M Bank Rwanda Plc, an application concerning a demand made on a performance bond.
Testimonials
Set
‘One of the pre-eminent sets and very good strength in depth.’
‘Well regarded set of leading experts in their fields. Excellent training programmes, courses and technical content and know how – demonstrating that the set comprises a number of thought leaders.’
‘Very accommodating set with an array of experience across areas. Their YouTube insights are fantastic.’
‘Quadrant are always a pleasure to deal with.’
‘Strong set in general commercial litigation and banking litigation.’
Clerking
‘Daniel Westerman is fantastic.’
Twenty Essex
Twenty Essex is a ‘go-to set for high-value banking and finance work, both in litigation and arbitration‘. The members are noted for their ‘broad skill set and are able to help us on a range of cases ranging from high volume caseloads to large and complex matters‘. A major dispute before the Court of Appeal was Canada Square v Potter, a high profile PPI mis-selling test case, in which Charles Kimmins KC led a team including Sean Snook for Citibank as defendant. Luke Pearce acted for the defendants (having previously been led by Philip Edey KC) in Victor Pisante; Swindon Holdings & Finance Ltd; BCA Shipping Investments Corporation; Castor Navigation Ltd v George Logothetis; Lomar Corporation Ltd ; Lomar Shipmanagement Ltd; Libra Holdings, a Commercial Court case stemming from various investments in the shipping market and in Piraeus Bank.
Testimonials
Set
‘Twenty Essex is my go-to set for high-value banking and finance work, both in litigation and arbitration. They have outstanding barristers at all levels and counsel is always available to assist.’
‘Twenty Essex is a set we use regularly, and we have a good relationship with the counsel and clerking teams. Counsel have a broad skill set and are able to help us on a range of cases ranging from high volume caseloads to large and complex matters.’
‘Twenty Essex are our current go to chambers for banking and finance and commercial litigation.’
Clerking
‘Back office runs very smoothly and clerks are very efficient and helpful.’
‘Very responsive, particularly Arron Zitver.’
‘Their clerks are impressive and they offer serious strength in depth.’
XXIV Old Buildings
XXIV Old Buildings is ‘a strong set for banking‘, offering ‘brilliant minds and real strength across the board‘. The set’s members have particularly good expertise in offshore, fraud and insolvency related banking disputes. A major ongoing case is Ivanishvili v Credit Suisse Life (Bermuda) before the Bermuda Commercial Court, in which Stephen Moverley Smith KC and Sarah Bayliss are acting for the defendant life insurance company, a subsidiary of Credit Suisse, in a claim linked to an alleged investment fraud brought by Bidzina Ivanishvili, a former president of Georgia. Edward Cumming KC is representing the claimants in Elite Property Holdings v Barclays Bank Plc regarding an alleged unlawful means conspiracy between Barclays and a leading accountancy firm to place the claimants into administration. Members such as Alexander Pelling and Francis Tregear KC have good expertise in Middle Eastern related banking disputes.
Testimonials
Set
‘They are a strong set for banking.’
‘Strong chancery and insolvency chambers, with brilliant minds and real strength across the board.’
Clerking
‘Paul Horsfield is doing a great job as senior clerk.’
‘Extremely helpful, go above and beyond to provide excellent service.’
Blackstone Chambers
Blackstone Chambers has ‘real strength in depth’ for banking and finance disputes. Many of the set’s senior members have market-leading credentials for major civil and regulatory issues, including fraud claims. Notable work includes Andrew Green KC‘s role acting for the Governor of the Bank of England in the Maxwellisation process relating to Dame Elizabeth Gloster’s report into the failure of London Capital & Finance, an issuer of mini-bonds which is alleged to have been a Ponzi scheme. Javan Herberg KC is representing UK Asset Management/Northern Rock Asset Management dealing with threatened very large group claims by “mortgage prisoners”. Andrew Hunter KC was among those representing Privatbank in Privatbank v Kolomoisky and ors, concerning an alleged scheme perpetrated by the defendants to misappropriate US$2 billion from the Ukrainian Bank. Andrew George KC is also highly active in the area.
Testimonials
Set
‘They have real strength in depth.’
‘Very good and a leading chambers’
Clerking
‘Clerks are immediately responsive and pleasant to deal with.’
‘Helpful and user-friendly clerks.‘
Serle Court
Serle Court stands out for offshore banking and finance, and is making a strong name for Middle Eastern matters, with ‘considerable depth in quality and one of the few offering genuine specialism in DIFC Court work‘. Rupert Reed KC is particularly active on this front and represented First Abu Dhabi Bank in First Abu Dhabi Bank PJSC and FAB Securities LLC v Larmag Holdings, which involved resisting a freezing injunction with major jurisdictional implications for the DIFC. Philip Marshall KC has also been leading Simon Hattan for one of the defendants in The Public Institution for Social Security v Al-Rajaan, involving allegations of bribery and fraud in respect of banking and investments by Kuwait’s state pension fund. David Blayney KC continues to be a major figure in the banking space.
Testimonials
Set
‘The chambers appears to have considerable depth in quality and one of the few offering genuine specialism in DIFC Court work.’
‘Probably the best of the commercial chancery sets.’
‘Serle Court has increasing bench strength, with number of juniors coming through to make a name for themselves in complex banking and finance and Middle Eastern work.’
Clerking
‘They have the best clerks anywhere.’
‘Service was admirably quick and efficient.’