With an impressive roster of financial institutions among its clients, Allen & Overy LLP's litigation and investigations practice benefits from 'litigators who understand the pitfalls in banking litigation'. Calum Burnett leads the team which includes Andrew Denny who is noted for his 'strong track record in banking disputes' and is actively advising clients on the litigation risk associated with the IBOR transition. Other names to note include the 'fantastic' Mahmood Lone who acts for financial institutions in a range of disputes including those with allegations of fraud or mis-selling, and Arnondo Chakrabarti who combines banking litigation, contentious regulatory matters and corporate crime expertise. The arrival of the 'outstanding' Susanna Charlwood from Shearman & Sterling LLP boosts the group's contentious insolvency and restructuring practice which includes counsel Oliver Rule. The team counts aircraft finance disputes among its niche areas of expertise for which consultant Peter Watson and recently promoted counsel Helen Biggin are names to note.
Banking litigation: investment and retail in London
Other key lawyers:
Mahmood Lone; Arnondo Chakrabarti; Andrew Denny; Susanna Charlwood; Jonathan Hitchin; Mahmood Lone; Oliver Troen; Oliver Rule
‘A&O are probably the best banking litigation outfit. The banking clients trust and rely on the litigators who understand the pitfalls in banking litigation.‘
‘A super team to whom the top clients turn to handle their most important banking matters.‘
‘Highly specialist. Very good knowledge of law and financial markets.’
‘Mahmood Lone: careful, diligent and effective in ensuring optimum results for clients. Arnondo Chakrabarti: effective team leader.’
‘Andrew Denny – an excellent lawyer with a strong track record in banking disputes. Jonathan Hitchin – an absolute delight to work with and a great strategist.‘
‘Mahmood Lone – he’s a fantastic partner. He’s cerebral and good humour and has the confidence of his clients. Oliver Troen – he’s a committed and clever associate. I enjoy working with him, as do the banking clients.‘
‘Mahmood Lone is a brilliant litigator. Andrew Denny is a very experienced and clever lawyer. Susanna Charlwood is outstanding, Clever, savvy and a delight to work with.’
Banco San Juan Internacional Inc.
Deutsche Trustee Company Limited
- Acting for Citi in litigation brought against it and 6 other banks by some the world’s largest institutional investors who allege anti-competitive conduct in the foreign exchange markets.
- Acted for Banco San Juan Internacional in claims against Venezuela state-owned oil and gas company Petróleos de Venezuela relating to defaults by the latter. The judgements judgments address novel points on the impact of US sanctions on English law agreements, the application of the penalty doctrine to loan agreements and service of claims on process agents.
- Representing six lenders in a dispute relating to a 1981 Refinancing Agreement with the Republic of Sudan and the Central Bank of Sudan.
Clifford Chance LLP‘s disputes team is highlighted as ‘a real powerhouse in the banking litigation field‘ with particular expertise in cross-border matters. ‘Master strategist‘ Ian Moulding leads the team and has experience across a full range of disputes, while the ‘superb‘ Helen Carty is particularly active in defending misselling claims and advising on disputes relating to derivatives transactions. The ‘emormously experienced‘ team includes Matthew Newick, Roger Best and the ‘very impressive‘ Kelwin Nicholls (who all combine a depth of litigation and investigations expertise); Christopher Yates , who has experience litigating in financial disputes in both Hong Kong and London, and Kate Scott, who counts regulatory follow on litigation and fintech disputes among her areas of specialism. Stephanie Huts was recently promoted to the partnership while the ‘superb‘ Michael Gorrie and ‘star of the future‘ Guy Burkitt are among the senior associates to note. Simon Davis remains as a consultant at the practice. The group is complemented by the expertise of its contentious banking colleagues across the globe as well as transactional finance and capital markets specialists.
Other key lawyers:
Matthew Newick; Roger Best; Guy Burkitt; Chris Yates; Kelwin Nicholls; Kate Scott; Lindsay Bickerton; Michael Gorrie; Stephanie Huts; Simon Davis
‘Market leaders in financial litigation.’
‘Ian Moulding: very experienced and knowledgeable. Manages an effective team. Good strategist.‘
‘Ian Moulding – very senior; seen it all; been in some of the biggest cases. Guy Burkitt (Associate) – a delight to work with; very acute; star of the future.‘
‘A real powerhouse in the banking litigation field, handling some of the most high profile and challenging disputes for large institutional clients.’
‘Kate Scott – responsive, great commercial awareness, excellent technical knowledge. Ian Moulding – runs a well managed and high functioning team, combines commercial knowledge with legal expertise giving meaningful and inciteful advice. Lindsay Bickerton – incredible attention to detail and in depth knowledge mean you know all options have been considered. Matthew Gorrie – superb lawyer, diligent and always on top of the detail.’
‘Enormously experienced and successful litigators involved in the biggest cases.’
‘Ian Moulding is a master strategist; he is always looking three steps ahead (and sometimes around corners). Supremely in control and level-headed, he also delegates appropriately, managing to be both hands-on and to avoid micromanaging – not an easy thing. Kelwin Nicholls is also very impressive, with deep industry knowledge and a calm and focused. Michael Gorrie is a stand-out associate. A great team player and a delight to work with, he has run the litigation on the day-to-day very efficiently. He is creative and hard working and a genuinely nice person (which is not always the case).‘
‘Helen Carty is superb.’
Bank of America
ICBC Standard Bank
- Advising funds advisory business Link Fund Solutions in its capacity as authorised corporate director of a high-profile UK equity fund in very significant group litigation threatened by retail investors under s.90 FSMA, COLL 4.2.4 and s.138D FSMA regarding the fund’s suspension and winding-up. The firm is also advising this client in relation to an FCA investigation concerning the same matters.
- Defending Deutsche Bank in English High Court proceedings relating to historic base metals trading in China in circumstances where the relevant parcels of metal were allegedly the subject of a wide-scale fraud in warehouses in certain Chinese ports.
- Defended Deutsche Bank and another financial institution in €400m claims brought by a Dutch social housing authority concerning derivatives transactions that were allegedly ultra vires and voidable due to bribery by an intermediary involved in the transactions.
Herbert Smith Freehills LLP
'One of the best', Herbert Smith Freehills LLP's banking litigation team is 'remarkably slick' with 'fantastic sector knowledge'. It is particularly strong for defending banks in securities class actions and group claims. 'Undoubted star in financial litigation' Rupert Lewis leads the team which includes Damien Byrne Hill (who is praised for his 'outstanding commercial and legal judgment'); the 'extremely bright, amiable and commercial' Chris Bushell, who frequently acts for banks and investment funds, and the 'very experienced and knowledgeable' Simon Clarke who is active in disputes involving complex products and derivatives. Other key contacts include John Corrie, who frequently advises investment and corporate banks in cross-border disputes; recently promoted partner Emma Deas, who is noted for investment and retail banking products, and senior associate Ajay Malhotra, who leverages his in-house experience in financial services litigation and contentious regulatory issues.
Other key lawyers:
Damien Byrne Hill; Simon Clarke; Chris Bushell; Natasha Johnson; Julian Copeman; John Corrie; Emma Deas; Ajay Malhotra Harry Edwards; Nic Patmore; Karen Wu; Daniel May; William Turner
‘Remarkably slick and well organised team, but also extremely approachable and easy to deal with. Outstanding levels of communication in order to set out expectations and timelines in advance.‘
‘Simon Clarke – very experienced and knowledgeable. Strikes the idea balance between partner oversight and appropriate delegation to junior colleagues. Avoids micro-management but steps in when required. Nic Patmore – bright, knowledgeable and extremely well organised. Karen Wu – sharp and efficient.‘
‘Rupert Lewis: an undoubted star in financial litigation. Very clever. A good strategist and excellent client manager. Julian Copeman: senior and experienced. Measured and reliable.’
‘Fantastic sector knowledge; very professional; brilliant partners; the safest pair of hands for a complex banking matter.’
‘Herbert Smith Freehills is one of the best, if not the best, banking litigation practices in London. It routinely attracts instructions on the most high profile and complex disputes, which often require co-ordination between the firms international offices.’
‘The banking team at HSF is first class. Everyone in the team is very capable – there is no weak link. The team works seamlessly together, consults counsel where appropriate and delegates task extremely efficiently. From a client’s point of view, it would be hard to beat the quality of legal services offered.’
‘The stand-out partner is Chris Bushell. He is extremely bright, amiable and commercial. He is well-liked by clients, hands-on and has considerable experience in big-ticket litigation for major banks and financial institutions. He is supported by two associates worthy of note and plainly on track to be partners – William Turner and Daniel May. Both are capable, industrious and an absolute pleasure to work with.‘
‘Damien Byrne Hill: who you want managing the most complex banking disputes, as he has seen it all and has outstanding commercial and legal judgment. He’s also a pleasure to work with to boot.’
Bank of England
National Australia Bank
Royal Sun Alliance
Association of British Insurers
- Advising UBS in complex group litigation arising out of schemes promoted by the Ingenious Media group and various financial intermediaries involving multiple claimants and defendants.
- Defending Bank of England (BoE) in claim issued by the Maduro Board of the Central Bank of Venezuela (BCV) with a view to releasing gold deposits exceeding $1bn in value held by the BoE on behalf of the BCV, in order to fund the Covid-19 pandemic efforts in Venezuela.
- Acting for G4S Plc in two class actions brought under s. 90A FSMA arising out of historic allegations that a G4S subsidiary was involved in fraudulent billing practices.
With ‘excellent experience of the banking industry‘, Hogan Lovells International LLP‘s financial services litigation and contentious regulatory team is ‘as at home with complex securitisation disputes as they are with relationship disputes and contentious insolvency matters‘. It is particularly strong for litigation relating to benchmark manipulation, consumer finance and retail banking, aviation finance, structured products and mass claims. The group frequently handles multi-jurisdictional issues and benefits from the ability to leverage its international network; dual qualified in Hong Kong and England and Wales, Jennifer Dickey is particularly strong for disputes involving Asia. The ‘outstanding‘ consumer finance litigation expert Louise Lamb leads the team, ‘excellent strategist‘ Philip Parish has experience in disputes arising from complex financial products, misselling, mismanagement claims, and benchmark manipulation, while John Tillman frequently handles disputes relating to complex instruments and in situations of defaults. Other contacts include ‘very thoughtful and careful lawyer‘ Whiston Bristow and counsel Hannah Piper.
Other key lawyers:
Philip Parish; Whiston Bristow; John Tillman; Jennifer Dickey; Michael O’Donoghue; Oliver Humphrey; Hannah Piper
‘Whiston Bristow – a very thoughtful and careful lawyer who is not afraid to immerse himself in the detail when required. Philip Parish – an excellent strategist and a pleasure to deal with. Jennifer Dickey is a very able and committed lawyer who is a delight to work with.’
‘Louise Lamb is outstanding. A committed, brilliant litigator.‘
‘John Tillman is an undoubted star. Generally the brightest guy in the room, easy to underestimate (at your peril), really effective at promoting client’s case and a sound instinct for what points will work. Oliver Humphrey is a star in the making – really bright, sensible, charming, clients love him.‘
‘Hogan Lovells’s banking litigation team effortlessly covers all aspects of banking litigation. They are as at home with complex securitisation disputes as they are with relationship disputes and contentious insolvency matters. They combine technical expertise with real experience and practical advice.’
‘The best in the business: take any category, and they are right at the top. They have very knowledgeable and hard-working partners; the associates are consistently very good; the team has a very diverse make-up, but the general ethos is one of quiet confidence in their abilities while managing to be extremely nice to work with and for.‘
‘Philip Parish is the stand out individual. He has superb technical knowledge and is an excellent tactician. Clients love him.‘
‘They have a great history of excellent banking work and brilliant strength in depth. The teams has excellent experience of the banking industry.‘
‘I would pick out: (i) John Tillman, who has particular expertise in complex capital markets disputes. He understand these transactions from the inside out and is a pleasure to work with. (ii) Philip Parish who provides clients with a calming presence and clear strategic direction.’
‘Whiston Bristow – very calm, considered, sensible. Deeply involved in his cases and really careful. Lovely guy. Senior associate Andrew Holland – very effective senior associate. Michael O’Donoghue – also an excellent senior associate. Hannah Piper and Hannah Sharp also both very good associates.’
Lehman Brothers Holdings Plc (in administration)
Mortgages PLC and various other companies, all of which are part of Bank of America Merrill Lynch
National Asset Management Agency
- Successfully acted for the administrators of Lehman Brothers Holdings Plc in two heavily contested, multi-party High Court applications concerning how substantial sums fall to be distributed by two insolvent Lehman UK estates.
- Successfully defended Mortgages Plc and various other companies (all of which are part of Bank of America Merrill Lynch) against an attack on a retail mortgage backed securitisation by Kilimanjaro Asset Management Limited, which claims to be entitled to the legal and beneficial title to the £450m of underlying assets in the mortgage portfolio.
- Successfully defended National Asset Management Agency in a claim y a borrower company that it had failed properly to exercise £50m of interest rate swaps in 2012.
Linklaters LLP's dispute resolution team harnesses the firm's contentious and non-contentious teams and regulatory practice to advise on a range of financial and banking litigation. It is particularly well-known for multijurisdictional disputes as well as UK topical market disruptions including LIBOR, implications of Brexit. Christa Band (who has a breadth of experience in crisis management, regulatory investigations and enforcement proceedings) leads the practice alongside global disputes head Michael Bennett and corporate crime and fraud expert Satindar Dogra. Other names to note include Patrick Robinson for disputes arising from structured products, capital markets and derivatives disputes; Susana Cao Miranda, who applies her extensive in-house experience in banking litigation and contentious regulatory work, and Rory Conway for insolvency-related issues.
Michael Bennett; Satindar Dogra; Christa Band
Other key lawyers:
Patrick Robinson; Susana Cao Miranda; Rory Conway
Lehman Brothers International (Europe) (In Administration) (“LBIE”)
Bank of East Asia
Bank of New York Mellon SA/NV (“BNYM”)
The joint administrators of Lehman Brothers International (Europe) (in administration)
- Represented Lehman Brothers International (Europe) (In Administration) in a a contested application before the High Court concerning the ability of LBIE to cure any continuing Events of Default under the ISDA Master Agreement.
- Acting for the directors of Bank of East Asia (BEA) in a unfair prejudice petition presented by Elliott International and its associates in the Hong Kong High Court which alleges that several placements of BEA shares by BEA since 2007 to Sumitomo Mitsui Banking Corporation and Caixa Bank were made for improper purposes and that the respondent directors failed to discharge their fiduciary duties in approving the placements.
- Successfully represented Bank of New York Mellon (BNYM) in Court proceedings brought by the Republic of Kazakhstan (RoK) and the National Bank of Kazakhstan relating to BYNM’s freeze over $22bn of funds following judgement creditors of RoK obtaining garnishment orders against Kazakhstan in various jurisdictions (in particular, Belgium and the Netherlands) in respect of assets held by BNYM.
Slaughter and May's disputes and investigations team includes 'superb litigators with vast experience of handling difficult banking cases'. It counts litigation related to structured products and financial derivatives among its areas of expertise. Richard Swallow leads the team, Deborah Finkler (who is experienced in investigative and enforcement actions), Jonathan Clark, Camilla Sanger and Richard Jeens are other names to note; all of which have a breadth of experience acting for financial institutions. The group benefits from the arrivals of Gayathri Kamalanathan, who joined from Danske Bank and adds significant in-house experience, and senior counsel Angela Taylor from Travers Smith LLP, who has a breadth of contentious expertise. Other changes include the promotion of the 'formidable' Peter Wickham to partner and Sarah Lee's retirement.
Other key lawyers:
Deborah Finkler; Camilla Sanger; Richard Jeens; Ewan Brown; Jonathan Clark; Camilla Sanger; Peter Wickham; Gayathri Kamalanathan;
‘A very classy outfit! Superb litigators with vast experience of handling difficult banking cases.’
‘Deborah Finkler – the best there is! Ewan Brown – a brilliantly clever lawyer Jonathan Clarke – a hardworking and dedicated litigator. Gayathri Kamalanathan – a wonderful new addition to the team.‘
‘Peter Wickham: formidable.’
JPMorgan Chase Bank N.A.
Credit Suisse group
Deutsche Bank, A.G.
Mercuria Energy Trading Europe Limited
A global financial institution
- Defending JPMorgan Chase Bank in high profile civil claims arising from cross border investigations conducted by the FCA, DOJ, and other regulators worldwide in relation to alleged misconduct in the G10 spot FX market.
- Acting for Credit Suisse in multiple claims arising from US$2 billion Mozambique “tuna bond scandal”.
- Defending Deutsche Bank in a claim brought against it, and several other financial institutions, by the US Federal Deposit Insurance Corporation acting as Receiver for 19 failed financial institutions headquartered in the US. The claim alleges that the defendants agreed and/or acted with others in concerted practice to low ball US Dollar LIBOR submissions.
Addleshaw Goddard‘s ‘exceptional‘ finance litigation team offers ‘tremendous knowledge of the financial markets coupled with an extremely efficient approach to dispute resolution‘. Finance disputes head Richard Clayton specialises in representing banks and asset managers in a range of disputes, while ‘shrewd litigator‘ James Herring‘s broad experience includes acting for fintech companies and payment institutions. Other names to note include legal director Sivan Daniels (who handles finance, fintech and financial crime-related litigation) and managing director Alex Unger, who has experience in a range of high-value banking litigation. The group works closely with its regulatory and financial crime teams and is well-adept as advising on cross-border issues.
Other key lawyers:
James Herring; Sivan Daniels; Alex Unger
‘Tremendous knowledge of the financial markets coupled with an extremely efficient approach to dispute resolution, makes this an exceptional team. The team is able to identify and narrow the key issues of any dispute rapidly and effectively, which ensures that costs are managed well whilst obtaining a successful outcome for clients. Great flexibility in approach and always ready to “go the extra mile” for their client.‘
‘Richard Clayton: extremely approachable and very knowledgeable about banking disputes. He is a great leader of large teams and achieves great results for his clients. He provides tremendous support to counsel in cases raising difficult points to resolve. Legal director Sivan Daniels: a stand out managing associate and star of the firm. He is a great intellect and has an incisive eye for detail. He handles difficult problems with aplomb.’
‘Michael Barnett has an assured approach to banking litigation with years of experience. Managing associate Alex Unger is an impressive associate with a can do attitude.‘
‘An excellent team to work with; they are great at client management, and are very astute at foreseeing potential problems and dealing with them before they arise.’
‘James Herring – great grasp of the detail, very careful and shrewd litigator; commercially minded. Sivan Daniels – sure to be a partner before too long; an excellent manner with clients and a good grasp of the overall direction of a case.‘
‘There is a real sense of partnership between the client, the firm, and counsel which means that each case is handled seamlessly from beginning to end. In terms of industry knowledge, the team is unrivalled as the associates all spend secondments with the core clients.‘
‘Sivan Daniels – destined for great things. Among the absolute best associates I work with: extremely clever, hard working, and unfailingly polite and appreciative. James Herring – sets the tone for the positive team dynamics explained above. Very good at efficiently delegating.‘
‘Good sector experience and expertise: specialists. Diverse client base.’
The Royal Bank of Scotland Plc
Financial Services Compensation Scheme
Lloyds Banking Group
National Westminster Bank Plc
Situs Asset Management Ltd and Situs International Ltd
Ahli United Bank (UK) Plc
- Successfully defended The Royal Bank of Scotland Plc in the Court of Appeal of a highly publicised £100m claim brought by Oliver Morley, a wealthy property developer, who brought allegations in relation to the activities of RBS’ Global Restructuring Group, which has been the subject of substantial legal, regulatory and press scrutiny in recent years.
- Acting for Unitel in its £300m claims for repayment of funds and enforcement of security and/or damages followings a series of events of default against a Dutch company owned by Isabel dos Santos (whose business empire and fortune were exposed by the so-called ‘Luanda Leaks’).
- Defending for NatWest in a claim in excess of £4.9m brought by a former customer and property developer, Euro Property Construction (EPC). EPC alleges that the bank acted in breach of an implied term of the mortgage deed when calling in its loans in 2007, which brought about the failure of the company.
'Accustomed to big-ticket, high profile litigation', Ashurst's contentious financial services group is popular among financial institutions and their employees in banking litigation, investigations, disciplinary proceedings and regulatory enforcement action. Practice head Lynn Dunne focuses on financial institutions disputes including banking and contentious regulatory disputes and insolvency and restructuring disputes. Other names to note include James Levy and the 'outstanding' Edward Sparrow, who remains as a senior consultant at the practice; both have a breadth of experience in banking disputes.
Other key lawyers:
Jon Gale; James Levy; Edward Sparrow; Anna Varga
‘Lynn Dunne is a standout litigator; she knows what her clients objectives are and how to achieve them.‘
‘Edward Sparrow is outstanding, highly experienced, calm and reassuring.’
‘Excellent knowledge and experience of the sector.‘
‘Accustomed to big-ticket, high profile litigation instructions. Have a big engine room to drive arbitration and litigation to the conclusion.’
‘Lynn Dunne: very gifted and works well in complementary practice areas. A real tour de force, but a pleasure to deal with.‘
‘Lynn Dunne is excellent and understands what I need as a client. Work is carried out to a high standard and within budget, with the right amount of client engagement. I trust Lynn and the team to carry out targeted and proportionate investigation work in the context of threatened litigation (with serious and sensitive allegations) with a careful mind to the degree of risk involved and without seeking to needlessly expand on instructions for the sake of generating more income.’
Bank of England
British Business Park plc
Close Bothers Asset Management
Daiwa Capital Markets Europe Limited
NatWest Markets Europe Limited
Premium Credit Limited
- Defending Close Brothers Asset Management in claims relating to the actual and potential tax liabilities of three investors in Ingenious film schemes who were clients of Close entities.
- Advising British Business Bank plc on the implementation of HM Treasury’s Future Fund scheme to support start-ups and innovative firms across the UK to get through the coronavirus pandemic by stimulating investment including on a number of potential disputes and in offering strategic advice on litigation and disputes in this context.
- Acting for a leading investment bank in a complex multi-jurisdictional fraud claim in excess of $200m.
Boies Schiller Flexner (UK) LLP‘s ‘exceptional‘ banking litigation team is praised for its ‘out-of-the-box thinking‘ in complex disputes. With a ‘stand-out reputation‘, practice head and managing partner Natasha Harrison is popular with a range of financial institutions including hedge funds, investment banks and money managers in high-value disputes. Fiona Huntriss, who is praised for being ‘technically outstanding but also unflappable‘, has a breadth of experience in banking, restructuring and insolvency litigation, while Tracey Dovaston leverages her in-house experience in a range of financial services disputes. Neil Pigott (who has ‘valuable experience in special situations, distressed investments and restructurings as well as the disputes that surround those situations‘) joined in August 2020 from BNP Paribas. The disputes specialist firm benefits from the ability to leverage its renowned US team in transatlantic disputes.
Other key lawyers:
Fiona Huntriss; Tracey Dovaston; Neil Pigott; Nick Turvey; Rosalind Axbey
‘The firm is true expert in litigation and complex disputes. Their approach is refreshing and demonstrates out-of-the-box thinking.’
‘Natasha Harrison: huge commercial practice and popular with funds operating out of London. Astute judgment as to what will and won’t fly before the Court. Fiona Huntriss: technically superb, very able on paper and a fantastic team player.’
‘Neil Pigott brings a fresh view to BSF with his unique experience in private practice and investment banking. Where others know the theory he has real and valuable experience in special situations, distressed investments and restructurings as well as the disputes that surround those situations.’
‘First-rate team for heavy and difficult commercial banking litigation. Frequently turned to when problems arise in relation to fund investment or banking documents, and clients require an external set of eyes to assess the merits and identify a creative way forwards.’
‘Natasha Harrison has the stand-out reputation and her elevation to the firm’s leadership is richly deserved and provides an excellent role-model for younger lawyers. Fiona Huntriss is technically outstanding but also unflappable and a real pleasure to work with.‘
‘Exceptional team – highly credible.‘
‘Fiona Huntriss – top drawer, calm under pressure. Associate Rosalind Axbey – very clever‘
‘The team is relatively small but obviously hand-picked, meaning that everyone is of the same high quality and great to deal with.‘
Farallon Capital Management
Davidson Kempner Capital Management
- Advising lenders to a Mozambican SPV (Proindicus) in complex claims brought before the English Courts against the Republic of Mozambique and Credit Suisse, on the basis of government guarantees and arranger roles. The case raises multiple novel issues relating to sovereign immunity, ostensible and actual authority, fraud and vicarious liability.
- Successfully represented Simon Gaul, a representative noteholder of McLaren Group (the UK-based technology and automotive company), before the English Courts in a dispute relating to attempts by the McLaren group to remove value for the benefit of the secured noteholders and instead use that in support of capital raising efforts, in the face of deep financial distress.
- Representing Madison Pacific, the leading Hong Kong-based provider of financial services, in court proceedings against PrivatBank relating to LCIA arbitrations relating to loans funded by two notes issued in 2010 and 2013.
Latham & Watkins' financial services litigation and contentious regulatory team advising major banks and financial institutions in a full range of disputes. 'Hugely experienced banking and finance litigator' Jon Holland and 'energetic, first-rate' Andrea Monks (who has a breadth of experience advising leading global banks, hedge funds and other financial institutions in disputes) jointly lead the practice. Praised for its 'amazing strength in depth', the team also includes Martin Davies and Oliver Middleton who have particular expertise collective and class actions, and associate Nell Perks, who has a breadth of experience in financial services litigation including in cross-border matters where the group can leverage its international network.
Jon Holland; Andrea Monks
Other key lawyers:
Martin Davies; Oliver Browne; Nell Perks; Alex Cox; Dan Smith
‘Andrea Monks – very astute, great fun to work with, very hard working and a great team player. Associate Nell Perks – sensible, thoughtful, thorough. Alex Cox – great technical attention to detail.‘
‘Jon Holland – a hugely experienced banking and finance litigator with excellent litigation judgment as well as a great sense of humour. Andrea Monks – a very energetic, first-rate lawyer who is very client focused and is a joy to work with.‘
‘Amazing strength in depth. Very hard working. Attention to detail.’
‘Andrea Monks is a clever and hardworking litigator. Martin Davies is very experienced.’
‘Even by the high standards of the sector, this is a notably bright and hard-working team which provides outstanding service to its clients. They are pragmatic and alert to commercial realities, but this is underpinned by a rigorous approach to legal issues and strategic decisions, in which the available arguments and options are analysed in depth in order to ensure that the client’s interests are advanced in the best possible way.’
‘They are good communicators who engage sensibly with clients, opposing solicitors, and counsel. Their management of a complex trial during the pandemic was exemplary. I have not come across a better team in this field.’
‘The recruitment of Jon Holland and Andrea Monks from Hogan Lovells a few years ago is paying dividends for Latham & Watkins in banking litigation, where the firm is increasingly active and visible, winning some notable instructions from prestigious clients.‘
‘Oliver Browne (partner) is extremely good with clients. He has excellent judgment, is sensitive to the commercial dynamics of any dispute and understands that litigation is not an end in itself. Dan Smith (counsel) is a fine lawyer who is always eager to explore different angles on a case and often comes up with good points that others might have missed.‘
ABN AMRO Bank NV
Rothesay Life plc
Chicago Mercantile Exchange (CME)
Samba Financial Group
- Representing ABN AMRO Bank NV, a major European financial institution, together with its worldwide subsidiaries, in cross border litigation relating to the Bernard Madoff Ponzi scheme. This includes asset recovery and litigation in respect of a number of feeder funds in Austria, the British Virgin Islands, the Isle of Man, the Netherlands and the Republic of Ireland.
- Represented Samba Financial Group, one of the largest Saudi Arabian banks, in a long-running case arising from the multi-billion dollar dispute between the Al-Gosaibi family, Maan Al Sanea and the Saad Group of companies, with related proceedings spanning the Cayman Islands, England, Switzerland, Bahrain and the Kingdom of Saudi Arabia.
- Representing Chicago Mercantile Exchange (CME) which acquired Nex Group (Nex) in 2018 in the Commercial Court proceedings brought by TP ICAP plc for alleged warranty breaches by NEX arising from the he sale of ICAP’s voice broking business to Tullett Prebon.
Mayer Brown International LLP's 'extremely strong' litigation and dispute resolution team has 'detailed knowledge of the derivatives market' and counts IBOR transition litigation, FX disputes, as well as fraud and financial and cyber-crime and data privacy issues among its other areas of expertise. Ian McDonald, who has 'exceptional judgment' in high-value disputes, leads the team. Susan Rosser has 'detailed technical knowledge of the banking industry', particularly in the investment banking, wholesale financial products and trading spaces; Chris Chapman is noted for defending financial institutions against mass claims brought by retail customers; Alistair Graham is highlighted for fraud and international asset tracing. Counsels to note include Ruth Malone and Dan Hart (who has 'exceptional and inventive legal acumen').
Other key lawyers:
Susan Rosser; Chris Chapman; Ruth Malone; Mark Stefanini; Alistair Graham; Dan Hart
‘The team there is, without doubt, one of the strongest in the London solicitors market. It is able to cover the full range of banking disputes from complex structured transactions to regulatory investigations to mis-selling and general banking complaints; and all this across multiple jurisdictions.‘
‘I would pick out three particular individuals I have worked with: First, Ian McDonald, who as head of the department, provides the firm’s clients with clear strategic direction and consistently displays exceptional judgment Second, Susan Rosser, who has detailed technical knowledge of the banking industry and is able to unlock even the knottiest legal problems. Third, Mark Stefanini, who offers a refreshing, down-to-earth and practical approach making him exceptionally user-friendly.‘
‘Really good city practice but with the personal touch.’
‘The team is an extremely strong banking team with detailed knowledge of the derivatives market.‘
‘Susan Rosser is a top junior partner with a big future and detailed knowledge of the industry.‘
‘The people I have worked with in the team, both partners and associates, are all very impressive indeed. They combine a good sense of strategy and tactics in the resolution of disputes in this area, with a sound knowledge of market practice, as well as being very easy to work with.’
‘Standout partners I would mention in this area, who exhibit all the above characteristics are Ian McDonald and Susan Rosser. Also notable in this group for his exceptional and inventive legal acumen is counsel Dan Hart.’
‘Ian McDonald provides excellent and thoughtful advice regarding potential litigation and during actions (where such is required). He demonstrates a thorough approach to risk and commercial attitude.’
Royal Bank of Canada
Principal Global Investors LLC
- Acted for Société Générale in an appeal against a judgment which found that it had wrongly maintained freezing orders against a Turkish counterparty between 2008 and 2016 following failed attempts by their former solicitors to effect service of the relevant proceedings in Turkey. The claim arose out of the misappropriation of approximately $500m of gold by the Turkish counterparty.
- Represented UBS AG, UBS Limited and UBS Global Asset Management in a $320m enforcement claim against German water services provider Kommunale Wasserwerke Leipzig (KWL) relating to various structured finance transactions.
- Representing listed client eOne, the leading Canada-based global mass media and entertainment company, in a £18m pound fraud claim in the High Court, which includes allegations of bribery, dishonesty, deceit, conspiracy and corruption.
With 'great industry and market knowledge', Norton Rose Fulbright's dispute resolution team is strong for retail and investment banking litigation and contentious regulatory matters as well as corporate crime investigations, fraud, competition and enforcement issues. Practice head Michael Godden has a breadth of wholesale, commercial and retail banking disputes expertise as well as civil fraud, asset tracing and enforcement experience; Harriet Jones-Fenleigh focuses on commercial and investment banking and counts fintech and cybersecurity matters among her areas of expertise. For default, enforcement, insolvency, fraud and directors’ duties litigation, Radford Goodman is noted while David Harris and counsel Dominic Hennessy are other contacts to note for enforcement proceedings. Paul Morris joined Alston & Bird LLP.
Other key lawyers:
Harriet Jones-Fenleigh; Radford Goodman; David Harris; Dominic Hennessy
‘Great industry and market knowledge – highly recommended.‘
The Law Debenture Trust Corporation p.l.c
Republic of Angola
Citibank, N.A. and Citigroup Global Markets Limited
Citicorp Trustee Company Ltd
Bank of Scotland plc, which is part of Lloyds Banking Group
Emirates NBD Bank
- Acting for The Law Debenture Trust Corporation plc in a high profile US$3.075bn Commercial Court claim brought by a corporate trustee against Ukraine to enforce payment of notes issued by Ukraine in 2013, which it failed to repay on maturity in 2015.
- Defending HSBC in two related complex £1bn and £100m group actions fraud claims.
- Acting for Citi in a $285m Commercial Court dispute concerning financing transactions entered into between certain Citi group entities and commodities trader Mercuria in respect of metal supposedly stored in warehouses at the Chinese ports of Qingdao and Penglai.
Quinn Emanuel Urquhart & Sullivan, LLP
Quinn Emanuel Urquhart & Sullivan, LLP's banking litigation practice is best known for handling high-profile claims against banks but also handles a range of defendant work for international financial institutions. Led by the 'savvy and astute litigator' Richard East, the group includes Robert Hickmott, who has a breadth of multijurisdictional financial litigation expertise; civil fraud expert Nick Marsh, and Matthew Bunting, who is strong for disputes with interconnected English and US elements and fraud allegations. The 'young and dynamic' Yasseen Gailani counts litigation relating to financial products, benchmark manipulation and conduct breaches by financial institutions among his specialisms, while senior associate Leo Kitchen is experienced in competition and follow-on claims and disputes arising under the ISDA Master Agreement. Paul Baker joined from Simmons & Simmons where he led the dispute resolution and asset management litigation groups.
Other key lawyers:
Robert Hickmott; Khaled Khatoun; Matthew Bunting; Nick Marsh; Yasseen Gailani; Alex Gerbi; Leo Kitchen
‘Very professional, smart, innovative, aggressive in a good way, client-focused.‘
‘I would single out Alex Gerbi. An intelligent, hard-working superstar with prodigious levels of energy. Jerome Squire is one of the smartest associates in the London market.’
‘I would rate Quinn Emanuel as the best all-round litigators in London, given their ability to act for claimants and defendants in this market.’
‘Richard East is a go to partner on any litigation matter, always making himself available when you need him.’
‘One of the leading firms – and arguably the go-to litigation firm – for heavy complex commercial litigation and arbitration across all industry sectors. Notwithstanding the proliferation of litigation boutiques in recent years, none of them comes close to the litigation and arbitration experience of the unique collection of disputes lawyers at Quinn Emmanuel.‘
‘Richard East is one of the leading lights at QE – a very savvy and astute litigator who is not afraid to back his views and judgments in the pursuit of clients’ objectives and best interests.‘
‘Matthew Bunting is particularly good at banking disputes. He is closely followed by Yasseen Gailani, a young and dynamic partner who gives sensible commercial advice. Alex Gerbi, the current co-head of litigation at QE is also one of the leading lights of the firm and has immense experience of Russian and Ukrainian litigation and arbitration.’
Ukraine (represented by the Minister of Finance of Ukraine acting upon the instructions of the Cabinet of Ministers of Ukraine)
Court appointed Receivers and Managers (who are partners at BDO) of the Libyan Investment Authority (“LIA”)
Pacific Investment Management Company LLC, Anchorage Capital, L.L.C., Algebris (UK) Limited
Federal Insurance Deposit Corporation (“FDIC”)
Galapagos Bidco SARL v Kebekus & Ors, FL-2019-000015
The Joint Administrators of JD Classics Limited (in administration). The Joint Administrators are Mark Firmin, Richard Beard and Richard Fleming of Alvarez & Marsal Europe LLP.
Abu Dhabi Commercial Bank PJSC
Allianz Global Investors; Brevan Howard; AP1, AP2, AP3, AP4; PIMCO; Bluecrest; PFA; Portigon AG and Erste Abwicklungsanstalt (EAA); Elsina
- Acted for PCP Capital in its high profile fraudulent misrepresentation claim against Barclays.
- Advising the The Federal Deposit Insurance Corporation (FDIC) in its significant USD LIBOR manipulation claim against the principal UK/European USD Panel Banks.
- Advising Allianz Global Investors; Brevan Howard; AP1, AP2, AP3, AP4; PIMCO; Bluecrest; PFA; Portigon AG and Erste Abwicklungsanstalt (EAA); Elsina on a significant FX manipulation claim against several global banks.
RPC's banking and financial markets litigation practice is a popular choice for investors and borrowers in claims against investment banks. Led by Simon Hart (who is noted for his 'first-class customer service'), the group acts for sovereign states, European regional banks, pension funds, hedge funds, other asset managers and the investment vehicles of high-net-worth individuals in claims. Tom Hibbert is 'right at the top of his game', particularly in capital markets, fund management disputes and insolvency-related litigation; for structured finance and derivatives disputes, 'class act' Andy McGregor is noted. Jonathan Cary also has a breadth of experience acting for large financial institutions against global investment banks; Daniel Hemming is 'a true superstar in the making' including for derivative products, ISDA and GMRA disputes, while associate Charlotte Henschen is building a breadth of experience in this space.
Other key lawyers:
Tom Hibbert; Chris Ross; Jonathan Cary; Charlotte Henschen; Andy McGregor; Daniel Hemming
‘If you are an investor or borrower with a large or difficult claim against an investment bank, RPC are the firm for you. They have won many high profile claims in the banking sector that have rolled back the frontiers of what claims might successfully be brought.‘
‘In-depth team with excellent leadership for financial claims, excellent ability to grasp what others miss, for example in insolvency claims.‘
‘Excellent communication across all aspects of the claim.’
‘Tom Hibbert is one of the star partners in this sphere – right at the top of his game. A genius for melding client trust and the killer points into a winning combination. Impeccable judgment. Dan Hemming is a new partner but a true superstar in the making – fantastically clever and hugely perceptive. Chris Ross is a safe pair of hands who never drops the ball – vital in any heavy case. Andy McGregor is simply a class act – unique talent for the work.’
‘Simon Hart, partner – a first-class customer service experience. We particularly value Simon’s ability to look forward and prepare for events before they occur.’
‘They work with diligent, think ahead and well prepared in every angle.’
‘Meticulous attention to detail and round-the-clock attentiveness, regardless of time zones.‘
‘RPC give a professional service with high diligent and expertise. ‘
Federal Government of Nigeria
Loreley Financing (Jersey) No 30 Limited
Bank St Petersburg (BSP)
Siam Commercial Bank Public Company Limited
VIP clients of Promsvyazbank
- Representing the Federal Government of Nigeria in its claim against JP Morgan arising out of the bank’s role in the fraudulent acquisition of an oil prospecting licence by Shell and Eni for US$1.3bn.
- Acting for Bank St Petersburg in a claim against oligarch Mr Arkhangelsky and his wife to enforce a series of personal guarantees given by Mr Arkhangelsky in support of loans made by BSP to companies that were owned/controlled by him.
- Acting for Loreley in a US$100m claim for fraudulent misrepresentation against various Credit Suisse entities in relation to a synthetic Collateralised Debt Obligation sold to our client.
As the largest litigation firm in the UK, conflict-free Stewarts Law LLP, is noted by one client as 'one of, if not the, 'go to' firm for litigation against major banks and other financial institutions' and also has the breadth to defend high-value claims. 'Doyen in this field' Clive Zietman (who leads the team) specialises in bringing claims against banks, for which Sean Upson and 'top drawer litigator' Marc Jones are other key contacts. 'Another first-class member of the banking team' Fiona Gillett and Lucy Ward are noted for their experience in securities disputes, while Darren Kidd attracts praise for his 'great strategic talent' including in group claims against banks and Laura Jenkins stands out for her litigation and investigations experience. Elaina Bailes excels in disputes in offshore jurisdictions, including Cayman and the BVI and senior associate Joe Mitchell counts litigation relating to complex financial products among his areas of focus. Tim Symes and Alex Jay (who both handle restructuring and banking litigation) joined from DMH Stallard LLP and Gowling WLG respectively.
Other key lawyers:
Sean Upson; Marc Jones; Fiona Gillett; Elaina Bailes; Lucy Ward; Alex Jay Darren Kidd; Alex Lerner; Laura Jenkins; Ian Gatt QC; Keith Thomas; Joe Mitchell; Tim Symes;
‘Leading litigators. The team is imaginative and innovative. It mastered the new technology.‘
‘Clive Zietman: the doyen in this field. Has built up the practice at Stewarts and is deservedly regarded as one of the best and most astute litigations in this sector. Marc Jones: top drawer litigator. He has a fierce determination to track down fact and arguments to advance his client’s case. And a real instinct for identifying the weakness ion his opponent’s case. Fiona Gillett: another first class member of the banking team with great analytical strengths.‘
‘Darren Kidd – partner with great strategic talent. Alex Lerner – very hard-working and skilled litigator with top City pedigree.‘
‘Ian Gatt QC . One of the leading litigators in London. Vast experience. Excellent judgment on how to present cases. Fiona Stewart. Hard working and diligent. Strong team leader. Responsive to client needs.‘
‘One of the absolute top commercial litigation firms, including in financial disputes. Great depth of experience in the partnership, arising out of the RBS Rights Issue dispute and the years prior to that. Refreshing but able to go toe-to-toe with any bigger firm.’
‘Keith Thomas has an unusual level of understanding of the financial industry. Lucy Ward is one of the top young partners and a superstar in the making–with a wise head but approachable, bright and hands-on.‘
‘Dynamic, creative, clever, hard-working. Prepared to take on the banks and so-called magic circle sets. The best banking litigation team in the UK if you want to make a claim against banks or finance house or other investment advisor.’
‘Stewarts is one of, if not the, ‘go to’ firm for litigation against major banks and other financial institutions as it goes where others fear to tread. Its team in this area is able to cover all aspects of such claims whether they arise out of insolvency, complex securities transactions, mis-selling, failed ventures or simply lending gone wrong. It is this ability to cover all bases which makes it stand out.’
Lodha Developers (UK Limited) v (1) Sun Global Investments Ltd (2) Green Lake Multi Strategy Fund Limited and (3) Global Capital Fund Limited
Dr Frank Kebekus and Galapagos S.A.
- Acted for Lodha Developers in a breach of contract claim and misrepresentation in relation to the purchase of $35m of corporate bonds.
- Representing Grant Thornton BVI as liquidators of Stanford International Bank (SIB) in a claim against HSBC Bank plc for alleged negligence and dishonest assistance in respect of HSBC’s failure to prevent the dissipation of SIB’s funds from HSBC accounts in 2008, prior to SIB’s collapse in 2009 in one of the largest and most scandalous Ponzi schemes.
- Acted for Republic of Kazakhstan (ROK) and the National Bank of Kazakhstan (NBK) in claim for $530m which was held by the Bank of New York Mellon, London Branch under a Global Custody Agreement entered into with NBK and frozen by BNYM as a result of an attachment order obtained in Belgium by parties seeking to enforce a Swedish arbitration award obtained against ROK.
Travers Smith LLP's dispute resolution team includes litigators with 'excellent technical expertise' and experience across a breadth of financial services litigation, It acts in disputes involving banks, brokers, fund managers among other financial services entities and frequently handles cross-border issues. 'First-rate litigator' Rob Fell leads the practice and counts investment and clearing banks among his clients. Caroline Edwards has a breadth of litigation experience in the sector; Toby Robinson leverages his cross-border investigation expertise in representing clients facing FCA enforcement action, including in the context of the LIBOR scandal; Jan-Jaap Baer counts derivatives disputes among his areas of specialism; Huw Jenkin is noted for contentious regulatory issues; and recently promoted Polly Richard is strong for disputes involving fraud allegations
Other key lawyers:
Caroline Edwards; Toby Robinson; Huw Jenkin; Jan-Jaap Baer; Stephanie Lee; Andrew King; Lucy Jay
‘Excellent technical expertise. Always able to deploy the manpower necessary in heavy litigation.’
‘Stephanie Lee – a rising star with boundless potential. Polly Richard – very hard working and on the ball. Caroline Edwards – a class act – very strategic and a brilliant commmunicator.‘
‘Robert Fell is a first-rate litigator. He has so much experience and a brilliant sense of strategy. His clients really value his advice which is always extremely sensible. He has bags of commercial sense. He communicates really well and is always on top of the detail.‘
‘Lucy Jay is an outstanding consultant. She is just so clever, and is all over the detail, and leaves no stone unturned. She is very responsive and gives extremely clear advice and her clients really value her input.’
‘Caroline Edwards is an experienced and skillful lawyer, and very pleasant to work with.’
‘Huw Jenkin – hugely hardworking, sound strategic instincts, a pleasure to deal with.’
‘Travers Smith’s banking litigation practice is extremely strong. They have first-rate lawyers at every level and have been involved in some of the leading cases coming before the English Courts. They have grown their practice from strength to strength. Their lawyers are extremely clever and switched on, and they form brilliant teams.‘
‘Very client-focused and thoughtful with their approach.’
- Acting for a European investment bank in English proceedings, which are ongoing in the Financial List against an Italian regional government, concerning the validity of interest rate swap transactions governed by an ISDA Master Agreement.
White & Case LLP's 'highly skilled' banking litigation team is popular among major investment banks in a range of high-value and cross-border disputes. It is able to draw upon expertise, highly regarded non-contentious finance practices and counts representing fintech companies and other non-traditional financial services among its growth areas. London commercial litigation head Amanda Cowell has particular experience in global banking, finance and investment disputes, while other key contacts include Charles Balmain, 'a sophisticated litigator with a wealth of experience at his fingertips', whose experience includes domestic and offshore banking litigation and contentious sovereign and corporate debt restructuring; Chris Brennan, who leverages his in-house experience in regulatory issues across the retail and wholesale banking space as well as in investigations and enforcement actions; recently promoted Swati Tripathi; and senior associate Adam Wallin. Former practice head John Reynolds left to join Avonhurst in mid-2021, while Steven Baker joined Proskauer Rose LLP.
Other key lawyers:
Charles Balmain; Chris Brennan; Swati Tripathi; Adam Wallin
‘Charles Balmain and Swati Tripathi both embody the firm’s commitment to client needs. An outstanding team and a real pleasure to work with.‘
‘Strong legal knowledge, relentless client focus.‘
‘Amanda Cowell and (New York-based) Viktor Braun are fully committed to providing a solution that will benefit the agent without compromises. They understand the risks involved in litigation matters ensuring Wilmington is well protected and the documentation works well from an agents perspective.‘
‘The team is highly skilled, with terrific client care, strategic insight and hands-on litigation experience at the highest levels. One of the best litigation outfits in the City.‘
‘A strong team with excellent sector and industry knowledge.‘
‘Very professional firm that has taken on some very talented individuals that are fully up to speed with very complex and demanding transaction. W&C has a can do attitude and remain readily available when required. W&C always bill for time spent and do not exceed agreed caps. Clients like this and provide repeated business.’
‘Charles Balmain is an urbane, sophisticated litigator with a wealth of experience at his fingertips.‘
‘Swati Tripathi has amazing connections with the Indian market, which is one of the fastest-growing sectors for the London litigation market.‘
Industrial and Commercial Bank of China Limited (ICBC)
Goldman Sachs International
- Advising on the long-running, complex, multi-jurisdictional €1.2bn fraud dispute arising from the sale of Vivacom, Bulgaria’s largest telecoms group.
- Acting for a syndicate of Chinese banks in respect of litigation proceedings and the restructuring of a $925m facility advanced to Reliance Communications Limited (RCom).
- Representing Goldman Sachs in its defence of proceedings in the High Court brought by Kodak, alleging breaches of UK and European competition law arising from the warehousing of aluminium.
Baker McKenzie's 'very experienced' financial institutions disputes practice attracts praise for its 'cross-jurisdictional service'. The group has a breadth of experience in acting for leading UK and international financial banks and financial institutions in cross-border matters. It has continued to strengthen its bench with the addition of 'stand-out litigator' Marc Thorley who joined from Simmons & Simmons in September 2020. Hugh Lyons and Jonathan Peddie jointly lead the team which includes Marc Florent (who is 'hugely experienced, especially in contentious insolvency work') and Edward Poulton.
Hugh Lyons; Jonathan Peddie
Other key lawyers:
Marc Florent; Marc Thorley; Edward Poulton
‘Baker & McKenzie can offer a very experienced team and a cross-jurisdictional service. This due to its sheer size and international reach but also the quality of lawyers in each office. This results in people able to handle all aspects of complex matters round the clock and at short notice. For example, I handled an urgent injunction application for them arising out of an international sale of goods, where each side.’
‘Hugh Lyons – an absolute pleasure to deal with, even in the most stressful situations. The ability to listen very attentively and tease out important strands of nuance as well as to be robust and dogged where that is the necessary trait to exhibit. Marc Florent – hugely experienced, especially in contentious insolvency work and intellectually exceptionally strong. Willing and able to cut through the noise on a matter whilst flexible enough to remain very open to new ideas.’
‘BK has really built out its litigation partner group with some smart and experienced hires.’
‘Marc Thorley and Jonathan Peddie are smart experienced litigators with great private practice and (in Jonathan’s case) in-house experience.‘
‘The banking litigation team benefits from a fantastic double-act in Hugh Lyons and Marc Florent who combine seamlessly to provide outstanding advice. Both cut their teeth in top-flight practices and bring that rigour and insight to bear in an environment that feels more entrepreneurial and free than would otherwise be the case – and at lower fees than they used to charge too.’
‘Marc Thorley is a stand-out litigator. He has experience working in-house for banks such as Barclays and experience as a litigation partner in London and Hong Kong. His breadth of banking work over more than 2 decades across different jurisdictions gives him experience that few can match.’
JP Morgan International Bank Limited / JP Morgan Bank Luxembourg SA
Dubai Islamic Bank PJSC
National Asset Loan Management and IBRC Asset Finance Limited
ETC Export Trading Company SA and ETC Group Limited
Trustco Group Holdings
Official Receiver of the Bangkok Bank of Commerce Public Company Limited
- Advising JP Morgan in connection High Court claims brought on behalf of insolvent former entities in the Al-Sanea group, seeking declaratory relief as to the beneficial ownership of assets held by JP Morgan.
- Representing the largest Islamic bank in the UAE, Dubai Islamic Bank, in multijurisdictional proceedings arising from a large-scale receivables fraud in the early 2000s and a settlement of claims in 2007. The two claims are a claim by one of the fraudsters (Charles Ridley) against the bank for breach of the settlement agreement and by the bank against one of the alleged perpetrators (Oiax Ltd).
- Advising JP Morgan at the pre-action stages of a £57.6m dispute that has arisen between JP Morgan and one of its clients relating to three facilities on which the bank’s client has defaulted.
With 'highly talented individuals with excellent industry knowledge', CMS's finance disputes team acts for investment, retail and private banks in a range of finance disputes. The group is able to leverage its non-contentious colleagues in complex matters and is well-known for handling cross-border issues. The team also has a growing cryptocurrency and fintech disputes practice, for which the 'terrific' Vanessa Whitman and Kushal Gandhi are key contacts. Practice head Tom Dane has a breadth of expertise in banking and insolvency disputes.
Other key lawyers:
Vanessa Whitman; Kushal Gandhi; Sukhi Kaler; Ross Blackhall; Sophie Gallacher
‘Excellent partner engagement with Tom Dane whose tactical know-how combined with an astute grasp of contract law helped resolve a difficult contractual dispute. An appreciation too of the relevance of competition law which meant a cross-disciplinary approach involving colleagues in the Competition Law department.‘
‘CMS’s banking litigation team benefits from a number of highly talented individuals with excellent industry knowledge.‘
‘Vanessa Whitman is the standout member of the team. She is very personable with clients and is seemingly indefatigable.‘
‘Sukhi Kaler’s many years of experience in litigation shows in the calm manner with which she deals with clients. She is always looking to do what is the best for the client and does a good job of holding the team together. Kushal Gandhi is intellectually rigourous and is able to grasp difficult aspects of a case. ‘
‘Sophie Gallacher: A silent hard worker. She drafted witness statements and numerous e-mails. In no event did such drafts have to be amended substantially. She provides consistent quality. Her availability and commitment were also remarkable: she made herself available during her holiday to do what was required.‘
‘I have worked extensively with Tom Dane (a senior partner), Vanessa Whitman (a new partner) and Ross Blackhall (an associate). Collectively and individually they excel in their strategic judgment, client management skills and everyday technical work. ‘
‘Vanessa Whitman is terrific. Down to earth, thoughtful and on top of every detail.’
‘Kushal Gandhi: He makes himself available when needed during the weekends or at late hours. He creates open discussions but does not shy away from giving his honest opinion, even when it is not in line with your own. He creates a feeling of absolute trust which is key during litigation procedures.’
Allied Irish Banks Plc
Lloyds Banking Group
National Westminster Bank plc
Access Bank UK
Amazon Webservices Inc
Metro Bank Plc
Natixis Investment Managers UK Limited
C Hoare & Co
- Acted for one of Turkey’s largest construction companies (Yuksel Group) and 5 individual directors of Yuksel in claims from 11 hedge funds alleging fraudulent misrepresentation in relation to a $200m million bond issued in 2010.
- Acting for an ultra high net worth Russian individual, Rustem Magdeev, in parallel High Court proceedings and LCIA arbitration regarding disputed multi-million financing of a diamond business.
- Acting for a US investment firm in unfair prejudice and breach of contract claims against a crypto-derivatives trading platform start-up that it invested in. The startup has also issued counter claims (among others) of breach of confidentiality.
Praised for its 'highly innovative thinking', litigation boutique Cooke, Young & Keidan LLP is a popular choice for claimants against banks and other financial institutions and counts fintech disputes among its areas of growth. The 'brilliant strategic thinker' Philip Young, the 'simply brilliant' Sinead O’Callaghan and Lydia Danon have broad litigation experience. 'Great strategist' Stephen Elam is particularly strong for claims involving complex financial products while Daniel Burbeary excels in cross-border disputes involving China, Russia and the CIS region. 'Emerging star' Sam Roberts and Rosie Wild are among the associates to note.
Other key lawyers:
Sinead O’Callaghan; Philip Young; Lydia Danon; Stephen Elam; Sam Roberts; Daniel Burbeary; Rosie Wild
‘One of the very best boutique litigation firms. And a go-to firm for Banking disputes (claimant side). No fuss, high client engagement, lower cost but on a par if not better than much larger firms. CYK recruit well, operate well and win cases. Their work product is often significantly superior to that of their competitors or opponents.‘
‘Philip Young – a really good lawyer and a really good person to look after your case. Sensible, clever and easy to work with. Excellent judgment.‘
‘Sam Roberts – new partner – very good indeed. Daniel Burbeary – knows how to run a heavy arbitration or commercial court action. Rosie Wild – one of the best litigation associates in London – very broad shoulders for a very young lawyer.‘
‘Highly innovative thinking. Brilliant ability to produce well-thought through and strategic approaches to cases.‘
‘Philip Young – Brilliant strategic thinker. Lydia Danon- gutsy and straight-talking. What every client wants in a fight. Rosie Wild – Goes the extra mile, all the time. The associate every partner wants. Daniel Burbeary – Great client skills. Sees the way through to a good commercial result.’
‘Stephen Elam has the ability to explain the most complex concepts clearly so that rational decisions can be made. He is always available to discuss issues and he is a great strategist.‘
‘Cooke, Young & Keidan rightly have a first-class reputation in this area.’
‘Sinead O’Callaghan – Sinead is simply brilliant. Sam Roberts – a real class act, and emerging star in this area.‘
Grove Park Properties
Mary Ward House Limited and Timothy Murphy
Daniel and Toby Ward
The ECU Group Plc
Cheyne Capital International Limited
Oliver Morley, trading as Morley Estates
Robson Asset Management Manco Limited
- Represented Grove Park Properties (GPP) in a £22m claim against RBS relating to the banks false accusations that GPP’s director of forging bank documents.
- Acting for The ECU Group in relation to high-profile claims against several banks relating to alleged misconduct involving the misuse of confidential information about ECU’s FX orders, including trading to deliberately trigger ECU’s stop-loss FX orders and the improper sharing of confidential information.
- Defended iFinex Inc (trading as Bitfinex) in Commercial Court proceedings brought by an anonymous cyber insurer seeking to recover Bitcoin (BTC) ransom payments. The claim involved novel issues as to cryptocurrency, its status as property in English law and available injunctive relief.
‘Staffed with excellence from top to bottom‘, Dentons‘ financial disputes group is a popular choice for retail banks in high-value litigation. Felicity Ewing (who is noted as being ‘definitely someone you want in your corner‘) has a breadth of experience including in defending banks in group claims. Ewing leads the team which includes ‘hugely experienced banking litigator‘ Richard Caird and the ‘technically exceptionally strong ‘ Natalia Fludra. Thomas Leyland re-joined the practice from Walkers.
Other key lawyers:
Richard Caird; Natalia Fludra; Tom Hanson; Thomas Leyland
‘Dentons have a long-established, highly regarded banking litigation practice. They tend to act for the major retail banks on their most high profile and commercially significant disputes.’
‘Richard Caird – a hugely experienced banking litigator who has excellent judgment and is enormously well respected in the market. Felicity Ewing – an very highly regarded banking litigator who continues to win high-profile instructions for the firm. Tom Hanson – a very clever associate who clearly is going places.‘
‘Richard Caird – veteran litigator who has been there, seen it all several time and bought a cupboard full of t-shirts – including as a senior in-house lawyer he brings searing insight, wry humour and a no-nonsense attitude to bear within an approach that is at once both supportive and challenging. He deserves immense credit for building an exceptionally qualified and capable team with consistent effort and attention to detail over a period of 15 or 20 years.’
‘Felicity Ewing – calm in a storm and razor-sharp when it matters. Felicity is an absolute joy to work with. Intellectually hugely capable but with people skills not frequently associated with litigators. Definitely someone you want in your corner. ‘
‘Natalia Fludra – technically exceptionally strong and intellectually at the very top of the tree Natalia is one of those rare litigators that is very easy to work with and yet more than willing to tell her clients when they are wrong – a hugely under-rated skill in a market seemingly all too frequently driven by those who want to fit an argument to the client’s wishes rather than to the law and the facts. A superstar.‘
‘This team represents surely the best value banking litigation option in the City. Staffed with excellence from top to bottom and yet available at prices far below what the quality suggests it should be. The practice is also backed by top flight banking/capital markets partners led by the incomparable Matthew Sapte.’
Financial Conduct Authority (“FCA”)
Barings (U.K.) Limited
- Acting for Barings in its role as Collateral Manager of a CLO transaction on a complex point of construction before the Court of Appeal.
- Acting for CTCL and Citibank in defending wide-ranging claims concerning the construction of CMBS documents, as well as allegations of conspiracy, fraudulent misrepresentation, deceit, breach of contract, and breach of trust.
Recommended for 'heavyweight banking disputes', DLA Piper's litigation and regulatory team attracts praise for its 'breadth of experience and skills across all seniority levels'. The group frequently works cross-office including with colleagues across its national offices in UK disputes and leverages its international network in cross-border matters, particularly in the fraud and regulatory spheres. Jean-Pierre Douglas-Henry, the 'hugely experienced' Jamie Curle and the 'exceptional' Jeremy Andrews jointly lead the practice. Other names to note include Jeremy Sher, who leads the firm's class actions group, and the 'thoroughly excellent' associate Sam Bodle. Legal director Tom Laidler joined the team in June 2021 from Akin Gump LLP.
Jean Pierre Douglas Henry; Jamie Curle; Jeremy Andrews
Other key lawyers:
Jeremy Sher; Sam Bodle; Tom Laidler
‘Jamie Curle (DLA London)(Partner) – hugely experienced, high-profile practice; great ability to guide strategic direction and keep on top of the detail. Sam Bodle (DLA London) (Senior Associate) – thoroughly excellent; star of the future; drafts with real flair.‘
‘Clearly DLA are a large international law firm, however, in our experience, they run cases very much with partner input and drive. For their size they are extremely agile.’
‘Jeremy Andrew and Jamie Curle in the London office are outstanding and have exceptional management skills on large and smaller litigation in a variety of commercial areas.‘
‘Jeremy Andrews is an exceptional professional, with great qualities. He has been outstanding in handling crisis situations and resourceful and creative in finding alternative ways forward. He is always within reach, and responds promptly and effectively.‘
‘DLA has real strength and depth to its banking litigation team, across London, Leeds and Sheffield. They have a team of seasoned veterans, together with some very talented and hard-working junior partners, legal directors and associates. They consistently get good results and are very flexible around pricing. DLA’s banking litigation team really doesn’t get the market recognition that they deserve.‘
‘Jeremy Andrews – highly intelligent, hard-working and experienced partner who leads from the front.‘
‘Breath of experience and skills across all seniority levels.’
‘Team deals with heavyweight banking disputes – good value, excellent experience.‘
- Acted for Rabobank in emergency proceedings involving the potential mis-delivery of a cargo of petroleum products heading for Rotterdam Port and financed under a standby letter of credit issued by Rabobank.
Enyo Law LLP
'Outstanding litigation boutique' Enyo Law LLP offers clients 'sound practical advice to all forms of banking dispute resolution, with none of the conflicts of some of the larger city firms'. Edward Allen has particular expertise in civil fraud and complex financial disputes; Simon Twigden counts misselling, ISDA and insurance litigation among his areas of specialism, while for fraud and asset tracing matters, Pietro Marino and Nick Jones are contacts to note. 'Outstanding litigator' George Maling and Lucinda Orr ('a class act') are also active in this space.
Other key lawyers:
Pietro Marino; Simon Twigden; Nick Jones; Edward Allen; George Maling; Lucinda Orr; Edward Allen
‘As specialist litigators, Enyo bring a wealth of experience, good judgment and sound practical advice to all forms of banking dispute resolution, with none of the conflicts of some of the larger city firms. I highly recommend them.‘
‘George Maling is an outstanding litigator. His easy charm belies a first-class lawyer and an astute tactican. Lucinda Orr is smart and hugely efficient – perfect for big-ticket commercial litigation – and her background as a barrister gives her a real insight into how Judges think.’
‘Enyo are an outstanding litigation boutique: they are very strong both tactically and strategically. Compared to other firms I have worked with they have a particular strength in identifying the winning points/approach and (critically) selling it to the client. They therefore start trials in the strongest possible position.’
‘I have been particularly impressed with Edward Allen, whose tactical judgment is (in my experience) second to none amongst solicitors. He also has the ear of his clients, and can sell them the right strategic approach to a case even if its cuts across their preconceptions. I would also strongly recommend Lucinda Orr – she is a class act, who knows everyone in the Court system and can keep even the most complex cases on the road.‘
‘They leave no stone unturned when it comes to identifying strengths and weaknesses in a case and will roll their sleeves up in terms of the legal research and drafting they undertake to support the Counsel they brief, rather than handing over responsibility and leaving it to Counsel to identify all the answers. In this sense it is teamwork in every sense.‘
The Libyan Investment Authority
Banco Internacional de Mocambique
Bank Comercial Portuges SA
Sheikh Walid Bin Ibrabim Al Ibrahim
Gulf International Bank BSC
Credit Agricole Indosuez SA
- Successfully defended Ukrainian businessman in $400m claim brought by PJSC Tatneft which was heard in a 12 week remote trial in autumn 2020. Also representing the client in the ongoing Privat Bank litigation.
- Acting for SCOR (fifth-largest insurance and reinsurance business) in a breach of confidence claim against Barclays relating to the disclosure of confidential information relating to a potential take-over bid by Covéa in 2018
- Acted for Gulf International Bank (GIB) in a debt claim against by Mr Aldwood (a Saudi-national, resident in London), who owed GIB in excess of £20m under a personal guarantee given as security for two sharia-compliant facilities originally provided in 2012 to the defendant’s Saudi-based companies.
Eversheds Sutherland (International) LLP's financial services disputes and investigations team has the 'technical resource to take on the biggest and most complex and document-heavy banking cases'. It is praised for its 'real specialism dealing with multijurisdictional disputes and complex asset tracing matters' and counts investment misselling, derivatives and structure products, lending and insolvency disputes among its other areas of expertise. The 'exceptional' David Flack and Andrew Legg have a breadth of expertise in financial disputes; Mark Cooper provides 'very pragmatic, commercially aware advice' particularly in relation to freezing orders, while Jennifer Miles has particular experience in defending allegations of fraud and group litigation actions.
David Flack; Gregory Brandman
Other key lawyers:
Andrew Legg; Mark Cooper; Jennifer Miles; Oliver Shipway; Rory McGrath
‘Down to earth and totally committed to the client’s objectives. Sensitive to the needs of in-house clients at banks and good at anticipating what they need. Extensive experience of what litigation involves for banks.‘
‘David Flack: wide experience in the area means he spots potential problems before they arise. Very focussed on the client’s needs and objectives. Extremely pleasant and very good at assembling and running diverse teams in the best interests of the client.‘
‘Mark Cooper (partner) has provided us with excellent advice on a number of issues, most recently on a number of actions to which we have been third parties, giving us exactly the very pragmatic, commercially aware advice we need.‘
‘David Flack (partner) is really exceptional and lovely to work with. He is thoroughly hands-on in his approach and across the detail, whilst also being an excellent team leader who knows the strengths of his juniors and deploys and supports them well. He is thoughtful and strategic – working with him is a constant dialogue, testing out ideas and strategies by talking them through.‘
‘Ollie Shipway (principal associate) has carried the burden of one of the largest disclosure exercises I have yet been involved with. He probably now knows more about the disclosure pilot scheme than anyone would care to and has carefully navigated a precise path through all kinds of knotty disclosure issues over the past year. Rory McGrath (junior associate). One to watch. Very bright and efficient.‘
‘Banks are extremely demanding clients who typically want a slick City firm service but without Magic Circle prices. Eversheds is well placed to meet that need. They have the depth and quality in their banking litigation team and the available technical resource to take on the biggest and most complex and document-heavy banking cases but at a more competitive price.‘
‘Real specialism dealing with multijurisdictional disputes and complex asset tracing matters.‘
‘The team has a good depth of knowledge, including extensive in-house practice experience, allowing them to give advice rooted in practicality, as well as being technically excellent (which contrary to popular belief is not a given).’
HSBC Bank plc
HSBC Private Bank (UK) Limited
Options UK Personal Pensions LLP (formerly Carey Pensions UK LLP) (“Options”) / Carey Pension Trustees UK Limited
Doha Bank Q.P.S.C.
Global Energy Horizons Corporation
Valla PTC Limited
Julius Baer International Limited
Law Debenture Trust Corporation plc
HSBC Private Bank (Suisse) SA
Various / Court Orders
- Defending HSBC in a $118m claim brought by liquidators of Stanford International Bank, an Antigua-based bank that was used as a vehicle for a US$7bn Ponzi-scheme fraud by Allen Stanford. The claim relates to allegations of dishonest assistance in the fraud and/or that HSBC was negligent in releasing payments from accounts belonging to Stanford International Bank.
- Defending HSBC in complex multiparty proceedings brought by c.330 individual claimants (many of whom are household name celebrities and professional sportspeople) in relation to the Ingenious film finance schemes.
- Representing Global Energy Horizons Corporation, an investment and advisory firm, in its long running breach of fiduciary duty proceedings against the former Chairman of Investment Banking at Deutsch Bank, Robert Gray
Macfarlanes LLP's provides an 'extraordinarily capable and efficient' financial services and markets litigation team for complex regulatory disputes, enforcement actions and investigations. It frequently handles cross-border matters and is particularly active in those involving the US, where it works with its New York practice, and the Middle East. The 'extremely knowledgable' Barry Donnelly is strong for transatlantic enforcement cases and disputes relating to allegations of US dollar LIBOR manipulation. Donnelly leads the practice alongside Matt McCahearty and Dan Lavender, who both have a breadth of experience in commercial and regulatory disputes.
Barry Donnelly; Matt McCahearty; Dan Lavender
Other key lawyers:
Iain Mackie; Aalia Datoo
‘The team is extraordinarily capable and efficient. They are creative and continually go the extra mile.’
‘Barry Donnelly is hands down excellent. Sharp as a tack, smart, personable and practical.’
‘Barry Donnelly is extremely knowledgable, charming, patient and firm where he needs to be.‘
‘Barry Donnelly has unparalleled experience and expertise in this area and is trusted by the most significant institutional clients to deal with their most complex and sensitive matters. He is first class.‘
The British Bankers’ Association
JB Firth Rixson Inc, and FR Acquisitions
Dr Ali Mahmoud Hassan Mohamed (Libyan Investment Authority)
- Defending NatWest (formerly Royal Bank of Scotland) in three separate claims relating to loss alleged to have arisen from anti-competitive manipulation of foreign exchange markets by individual traders at various banks including a group action and two competing applications for a collective proceedings order in the Competition Appeal Tribunal.
- Defending 200+ financial institution members of the British Bankers’ Association (BBA), the members’ trade association for the UK banking and financial services sector, in a High Court claim brought by 39 US banks in relation to allegations that the BBA and its member banks conspired to manipulate the BBA LIBOR interest rate benchmark during the financial crisis.
- Acting for JB Firth Rixson Inc and FR Acquisitions in a $100m claim relating to two interest rate swaps with Lehman Brothers International (Europe) (the Lehman entity in UK administration).
The litigation and arbitration team of Milbank is praised for its 'excellent client service' in UK and international banking disputes. It is increasingly handling transatlantic disputes where it benefits from the ability to leverage its New York practice. 'Great tactician' Julian Stait (who excels in banking disputes with a competition component) leads the team which includes the 'commercially minded' Tom Canning; Charles Evans, who has a strong reputation for handling a range of banking litigation, and Mona Vaswani who has experience acting for both banks and funds in complex, and often cross border, disputes and investigations. The 'very knowledgeable' recently promoted partner William Charles is another key contact.
Other key lawyers:
Tom Canning; Mona Vaswani; Charles Evans; William Charles; Vasiliki Katsarou
‘The Milbank team has done outstanding work for us. The right amount of attention to detail without loading on the billable hours. We have received top-quality advice and service over many years on a variety of matters, including UK-based litigation, international collections and cross-border enforcement. The Milbank team does a great job of seeing things from the client.‘
‘Julian Stait – great tactician. Will Charles – very knowledgeable and great with clients. Vasiliki Katsarou – very hardworking with an eye for detail.‘
‘Tom Canning is thoughtful and commercially minded. He is practical in his recommendations and does not promote the firm.’
‘Really excellent client service.’
Visa Inc., Visa International Service Association, Visa Europe Limited, Visa Europe Services LLC and Visa UK Limited
- Defending Rabobank in competition and fraud claims brought by the Federal Deposit Insurance Corporation on behalf of several failed US financial institutions, which claim that they suffered significant losses as a result of an alleged agreement (or collusive and concerted action) between the defendant banks artificially to suppress USD LIBOR rates during the height of the financial crisis.
- Acting for Visa in proceedings brought by Sainsbury’s alleging infringements of English and European competition law by setting and implementing of multilateral interchange fees associated with the use of Visa branded debit and credit cards.
- Defending Visa in the Competition Appeal Tribunal in a group claim alleging Visa’s abuse of dominant position and infringements of other English and European competition law by setting and implementing of multilateral interchange fees associated with the use of Visa branded debit and credit cards.
Reed Smith LLP
Reed Smith LLP's 'very impressive' commercial disputes team attracts praise for its 'strategic approach' to banking litigation. It acts for an impressive roster of major financial institutions with particular experience in cross-border issues where it leverages its extensive global network, including its New York-based team. The 'enormously clever and experienced' Nick Brocklesby leads the team which includes Tom Webley, who has a breadth of financial services regulatory dispute expertise; George Hoare; and counsel Oliver Rawkins, who counts derivatives, trade finance and regulatory disputes among his areas of focus.
Other key lawyers:
Tom Webley; Oliver Rawkins; George Hoare;
‘Strong litigation team, very commercial, able to get to the heart of the matter in a swift manner.’
‘Nick Brocklesby – exceptional client service. Enormously clever and experienced. Brilliant for strategy. Great advocate too.’
‘Tom Webley and Oliver Rawkins were very strong in laying out in detail the case and the defences we had against it. Including potential strategies and risks/rewards. ‘
‘I worked with George Hoare who had substantial involvement despite being a partner.‘
‘The team is very impressive and a pleasure to deal with. It is hard to think of what more you might want in a team of City solicitors working in commercial/banking litigation. In those cases where I have worked with Reed Smith, the litigation has been carefully managed, a strategic approach has been adopted, and great quality work is produced. The result has been (in almost all cases I have been involved with) settlement on good terms, with the client happy.‘
‘Experts for litigation work. Responsive, user-friendly, and creative. They know how to get results and put the other side under real pressure.‘
‘Nick Brocklesby is excellent. I have worked with him in a previous job and had no hesitation hiring him on a matter recently. He gets to the heart of the matter quickly and provides no-nonsense advice which is to the point and something which I appreciate. He is sensitive to other lawyers involved if the matter is across jurisdictions and will consult should he have a view which may differ and checks on the approach to take to ensure a smooth collaboration.’
Disputes boutique Signature Litigation LLP‘s banking litigation team attracts praise for its ‘great specialist knowledge‘ and ‘real experience in claimant-led litigation‘. It frequently represents claimants in financial services disputes and also has experience acting for banks. The ‘outstanding‘ Graham Huntley leads the practice which includes Abdulali Jiwaji who has particular experience in financial products and misselling disputes. The ‘stellar‘ Becca Hogan and the ‘excellent‘ Rory Spillman among the ‘impressive‘ senior associates. The group benefits from the additions of Tom Snelling and Paul Brehony from Freshfields Bruckhaus Deringer LLP and Stewarts Law LLP respectively.
Other key lawyers:
Abdulali Jiwaji; Daniel Spendlove; Johnny Shearman; Abdulali Jiwaji; Neil Newing; Rory Spillman; Becca Hogan
‘Great specialist knowledge with a pragmatic and commercial outlook.’
‘Graham Huntley – vastly experienced and clever litigator. Rory Spillman – excellent senior associate with real authority. Becca Hogan – calm and strategic associate, very hardworking. ‘
‘Graham Huntley is a doyen of London banking litigation, and has led many of the biggest cases of recent years. A master tactician. Ioannis Alexopoulos is a thoughtful lawyer with a real technical mastery of banking law. Daniel Spendlove is very efficient and commercial, with a really creative eye for litigation strategy. Neil Newing is a strong lawyer who stands out for the quality and thoroughness of his analysis.‘
‘Graham Huntley is an outstanding lawyer and has a real skill in getting to the heart of the matter. His client manner is second to none and the firm thrives on his leadership. Daniel Spendlove remains a key practitioner within the litigation department and provides certainty and direction within big case management Johnny Shearman and Abdulali Jiwaji are also highly recommended – engaging and very proactive – the client gets a sense off them, that they have a belief in the case and the knowledge and resource to win. A rare atmosphere that means a lot in drawn-out litigation.‘
‘Boutique firm with genuine expertise in the field.‘
‘Excellent banking team with real experience in claimant-led litigation. Senior Associates are particularly impressive: thorough, efficient and very sensible.‘
‘Signature is a very professional team managing a complex international case across many jurisdictions. They have a very strong standing in managing multiple parties across different jurisdictions with different law.‘
‘Becca Hogan is a stellar associate, well on her way to partner.’
Georgian Co Investment Fund
- Acting for Georgian Co Investment Fund in a dispute against entities in the major financial institution Credit Suisse Group relating to losses arising out of the fraudulent handling and investment of family assets by employees of Credit Suisse AG (the Bank) and sister companies.
- Represented BTA Bank in pursuing recovery of substantial funds siphoned out of the bank by one of its previous executives through various unlawful means.
- Acted for a group of approximately 80 corporations and platforms and thousands of smaller companies and individuals known as the SG Group claimants in claims under Section 90 of FSMA against RBS relating to its failed 2008 rights issues.
Simmons & Simmons
With 'excellent bench strength and an impressive international presence', Simmons & Simmons' litigation and arbitration team acts for investment, retail and challenger banks, as well as investment funds and fintech company and private wealth managers, in a range of cross-border disputes. For asset management disputes, the 'impressive' Robert Turner is a key contact; Richard Bunce is noted for his broad experience in commercial, investment and wholesale banking and international debt capital markets disputes; Ed Crosse for his a range of financial markets disputes; Bristol-based Alexander Thavenot for wholesale banking, wealth management litigation and cross-border enforcement, and Robert Allen for contentious fintech and data privacy matters. Caroline Hunter-Yeats (who counts securitisation and misselling disputes among her areas of specialism) and Patrick Boylan took over as joint heads of the team from Tim Boyce. Other names to note include senior partner Colin Passmore and wholesale banking and wealth management disputes expert Alexander Thavenot. Joanna Pearson joined Humphries Kerstetter LLP while Paul Baker moved to Quinn Emanuel Urquhart & Sullivan, LLP and Marc Thorley to Baker McKenzie.
Patrick Boylan; Caroline Hunter-Yeats
Other key lawyers:
Robert Turner; Richard Bunce; Robert Allen; Colin Passmore; Ed Crosse; Alexander Thavenot; Adam Brown; Tim Boyce
‘Simmons has a strong, friendly team of banking lawyers. They know what their clients need and work with them to get the best result.’
‘Rob Allen is an exemplary partner – trusting the associates to get on with the work, but always available to make the big decisions.‘
‘An outstanding team, getting some of the biggest litigation around.’
‘Rob Turner (partner): one of the most experienced and most impressive banking litigators around. Top class.‘
‘Adam Brown is superb, I highly rate him. He is very proactive and anticipates what is going to be needed, adept at handling complex issues and high-profile litigation, and readily available to help formulate a sound strategy. Similarly, Ed Crosse is very good indeed. Again, he is proactive, communicates well and makes it seem easy to navigate through complex issues.‘
‘Simmons is a great firm to work with. Real people who bring good humour to the job.’
‘Richard Bunce is a trusted adviser.‘
‘The Simmons litigation team has excellent bench strength and an impressive international presence, so are well placed for significant cross-border investment banking litigation.’
EFG Bank AG
Dmitry and Alexander Mints (the “Mints Family”)
Business Mortgage Finance, Sanne Group PLC and Target Servicing Limited
The O1 Group
Standard Chartered Bank
Jefferies International Limited
Bank of New York Mellon
- Acting for EFG Bank AG, a Swiss private bank, as one of 38 Defendants in an $800m claim brought by The Public Institution for Social Security of Kuwait in the Commercial Court.
- Acting for Kaupthing bank in a €585m claim and related cross-border litigation.
- Successfully acted for British Mortgage Finance, Sanne Group PLC and Target Servicing Limited as the issuers of various classes of notes in 13 sets of High Court proceedings to prevent and defend attempts by a known industry activist to unlawfully interfere with securitisation structures to which our client is party.
Stephenson Harwood's 'very knowledgeable and experienced' finance litigation team attracts praise for offering 'magic circle quality with the nimbleness of a smaller litigation group'. Investment banking disputes expert Sue Millar and Edward Davis (who has experience in fraud cases and complex banking and fund-related matters) jointly lead the team which benefits from the addition of Genevieve Quierin from Mishcon de Reya LLP, who adds particular experience in group actions. Other names to note include commerial litigator John Fordham, Richard Gwynne (who has particular derivative disputes and trade finance dispute expertise), Richard Garcia, who 'has massive experience in financial services litigation', and Donna Newman who frequently handles financial products and markets litigation.
Sue Millar; Edward Davis
Other key lawyers:
John Fordham; Richard Gwynne; Richard Garcia; Donna Newman; Genevieve Quierin; Jeremy Livingston; Kate Cordery
‘Brilliant lawyers, depth of coverage, will stand your corner for you.‘
‘Very knowledgeable and experienced in the field. Always pro-active. They keep the client always informed.‘
‘Richard Garcia stands out as a hands-on, experienced lawyer with practical solutions and well-thought-out suggestions.’
‘Sue Millar – exceptional grasp of political effects on banking issues. Clear concise advice and direction on mechanisms to challenge injustice or poor regulation.‘
‘Magic circle quality with the nimbleness of a smaller litigation group and more partner engagement, with a market-leading reputation in banking and financial services litigation from years of having acted for and against leading financial institutions.’
‘Ed Davis and Jeremy Livingston are both excellent lawyers, with a view on the strategy in the long term, and always available when needed.‘
‘Richard Garcia has massive experience in financial services litigation, both retail and investment, with vast market and product knowledge. Kate Cordery is a very dedicated newer partner who has particular regulatory experience. Edward Davis is perhaps the team’s most experienced litigator who has been running some of the largest financial services litigation over the last few decades.‘
Merrill Lynch International
Aggreko International Projects Limited
The Islamic Republic of Pakistan
Alpha Bank Cyprus Ltd, Bank of Cyprus Public Company Limited, Cyprus Popular Bank Public Co Ltd
Over 1,000 claimants including numerous global hotel chains, high street and online retailers, a leading betting and gaming company, restaurant chains, travel companies, arts and entertainment companies, ticketing companies and others.
Raiffeisen Bank International AG
Ministry of Defence and Support for the Armed Forces of the Islamic Republic of Iran
Shanghai Commercial and Savings Bank Limited (Taiwan)
- Successfully defended Merrill Lynch International in a claim brought by CFH Clearing Limited in relation to algorithmic foreign exchange trading prices.
- Representing Aggreko International Projects Limited in its successful application for a without notice prohibitory injunction, restraining payment from being made under a guarantee structure involving banks in London and Yemen.
- Acting for over 1,000 claimants in £500m claims against Visa and MasterCard for the recovery of interchange fees that were imposed on the claimants by the card schemes in contravention of European and UK competition law.
With 'technical firepower and commercial nous', Akin Gump LLP's finance litigation team is popular among creditors and investment funds in banking and restructuring disputes. It attracts praise for its 'global-reach and strong inter-relationships with transactional colleagues' including its restructuring and funds practices, and is also building a reputation for representing litigation funders in disputes. Richard Hornshaw (who handles a range of finance and securities law litigation) took over as head of the practice from Mark Dawkins who remains at the practice.
Other key lawyers:
‘Smart, agile team, focused on delivering practical resolutions rather than maximizing fee income.’
‘Richard Hornshaw is delightful to work with, an iron fist in a velvet glove when dealing with counterparties and entirely focused on delivering outcomes consistent with client objectives in the most cost and time efficient manner possible.‘
‘Global-reach and strong inter-relationships with transactional colleagues, meaning a deeper and wider understanding of issues; Strong technical abilities fused with excellent commercial approaches; Relative to other firms, it has more technical firepower and commercial nous.‘
‘Richard Hornshaw is technically very strong, very approachable and has gravitas with colleagues, opponents and the bar.‘
‘The team at Akin Gump is a joy to work with. They are very thorough in their preparation of a case. They think creatively and are prepared to pursue novel strategies to get the best outcomes for their clients.‘
‘Mark Dawkins provides very clear strategic thinking.‘
Ad Hoc Committee of Noteholders of Premier Oil
Deloitte as administrators of African Minerals Limited
Fairhold Securitisation Limited
Ad Hoc Group of Senior Secured Noteholders of Galapagos
Noteholders to Imtech
Nordic Trustee AS
Ad Hoc Committee of noteholder creditors of Travelex
- Advised an ad hoc group of creditors in connection with the proposed restructuring of its debt. From the litigation perspective, this included responding to a significant challenge from another shareholder/creditor.
- Acting for the joint administrators of African Minerals Limited (AML) in disputes.
- Advising Nordic Trustee AS, the holder of secured bonds issued by G3 Exploration, in a highly contentious insolvency situation in which the principal litigation workstreams include two sets of contested winding-up proceedings in the Cayman Islands; potential claims against the founder and former Chairman and CEO of the Group; a hostile inter-creditor dispute and declaratory relief proceedings in England relating to a disputed guarantee.
Brown Rudnick LLP's 'formidable' conflict-free international dispute resolution team is particularly active in disputes involving Russia and the CIS region. It frequently acts in disputes involving allegations of fraud and cross-border enforcement and asset tracing, for which Neil Micklethwaite and 'stand-out commercial and fraud litigator' Jane Colston are key contacts. Neill Shrimpton leads the litigation and arbitration practice group, Christian Toms has particular experience in disputes arising from financial arrangements and investments, and 'banking and financial services guru' Peter Bibby is noted for his contentious regulatory enforcement experience.
Other key lawyers:
Neil Micklethwaite; Christian Toms; Jane Colston; Anupreet Amole; Peter Bibby; Steven James; Peter Bibby; Gerald Byrne; Jess Lee
‘A really close-knit and mutually respectful team of excellent practitioners operating in the biggest cases at the highest level.‘
‘All the team was flexible, with good knowledge of the case and very responsive.‘
‘Peter Bibby – a banking and financial services guru.‘
‘Jane Colston – stand-out commercial and fraud litigator. A joy to work with. Hugely effective. never takes her eye off the main objective, which is achieving the best result for the client. Highly respected by her motivated team. Always available. Jess Lee – excellent associate – clever and diligent.‘
‘Jane Colston and Steven James were very responsive with great team work and with deep knowledge of their case.‘
- Representing an individual as the seventh defendant in a £500m claim brought by two Russian banks relating to allegedly fraudulent transactions.
Bryan Cave Leighton Paisner LLP's banking litigation group is strong for wholesale investment disputes and benefits from close collaboration with its financial regulatory and white-collar crime colleagues. Oran Gelb leads the team alongside commercial disputes practice head Graham Shear. Managing partner of the firm's London office Segun Osuntokun is particularly strong for Africa-related disputes or claims with allegations of fraud, while Andrew Tuson specialises in market abuse and market manipulation disputes. Recently promoted partner Sarah McAtominey and the 'outstanding' senior associate Alexandra Kirby are other names to note.
Graham Shear; Oran Gelb
Other key lawyers:
Segun Osuntokun; Andrew Tuson; Andrew Leitch; Nathan Willmott; Sarah McAtominey; Alexandra Kirby
‘This team has unrivalled experience in London’s financial services markets and financial services law.’
‘Andrew Tuson is a recognised expert in the field of banking regulation. his approachable and attentive style coupled with robust knowledge and expertise attributes to the efficient problem-solving and effective resolution.‘
‘Oran Gelb is making a real name for himself both in high profile banking disputes but also in civil fraud. A name to watch.’
‘Andrew Tuson (partner): an outstanding solicitor, extremely clever, commercially highly astute, superb at client handling, a great tactician, and a delight to work with. Alexandra Kirby (senior associate): outstanding.‘
‘Nathan Willmott: exceptionally capable and intellectually gifted partner. Andrew Tuson: unrivalled experience and knowledge of financial services law. Gives exceptional service and generates great results.‘
‘I am working with BCLP on the FX litigation which is a mix of banking and competition law. They have a decent and well-resourced team which is a mixture of competition lawyers and litigators.’
Intertrust Management Limited
BGC Brokers LP
- Acted for Intertrust Management Limited in a number of cases in the High Court (Commercial Court and Chancery) relating to its position as corporate services provider to two RMBS structured finance vehicles.
- Acted for the global brokerage, BGC Brokers LP, in two actions against a competitor, Tradition UK, and a number of Tradition UK employees, including the Tradition CEO.
Cleary Gottlieb Steen & Hamilton
Made up of 'hugely experienced banking litigator partners and a body of high-quality associates' Cleary Gottlieb Steen & Hamilton's banking litigation team excels in cross-border disputes. Key contacts include 'senior and experienced banking litigator' Jonathan Kelly, 'outstanding and commanding litigator' Sunil Gadhia (who specialises in challenging sanctions in the EU and English courts) and the 'exceptional' James Brady.
Other key lawyers:
Jonathan Kelly; James Brady; Sunil Ghadia; Hannah Veitch; Naomi Tarawali; Kieran Rogan
‘The Cleary litigation team are immensely bright and hard working. I was particularly impressed with their ability to manage very demanding institutional clients, who expect (and received) the extra mile – they kept the confidence of the clients throughout, even through difficult phases of the litigation.’
‘James Brady is an excellent up-and-coming partner, who I would particularly recommend – personable and highly intelligent, he can manage both the legal team and clients to achieve the best results.’
‘James Brady has been an exceptional partner on a major long-running dispute – he has excellent grasp of the detail of the case. Hannah Veitch is a rising star associate who is super smart and an absolute pleasure to work with.‘
‘Sunil Ghadia is an outstanding and commanding litigator. Jonathan Kelly is a very senior and experienced banking litigator. Between them they head up a super team. Particular mention should be made of James Brady and Naomi Tarawali, both of whom are superb.’
‘I have worked extensively with Sunil Gadhia (a senior partner), James Brady (a junior partner), Hannah Veitch (a senior associate) and Kieran Rogan (an associate). The partners have considerable experience of both litigation and regulatory investigations and very good client management skills, even in difficult or complex cases. The associates are focussed and extremely hard working.‘
‘Excellent leadership and vast experience. A very strong team at all levels.’
‘Cleary Gottleib benefits from a number of hugely experienced banking litigator partners and a body of high-quality associates. The team has the resources and skills to handle the most complex banking disputes, whether based in this jurisdiction or across several jurisdictions.’
HSBC (HSBC Bank plc; HSBC Bank USA, N.A.; HSBC Holdings plc)
GHF Fund (formerly Abraaj Growth Markets Health Fund)
Public Institution for Social Security for the State of Kuwait
- Representing Russian Federation in pursuit of repayment through the English High Court of the $3bn Eurobond issued by Ukraine and held by Russia’s National Wealth Fund as the sole noteholder.
- Acting for a number of HSBC entities in a highly complex, hard-fought case brought by The ECU Group plc, relating to FX trading in the 2004-06 period.
- Acting for GHF Fund and its limited partners advisory committee on three parallel litigation claims in the Cayman Islands arising from the collapse of Dubai-based private equity fund The Abraaj Group and on the separation of the $1bn Abraaj Growth Markets Health Fund from The Abraaj Group.
With ‘very significant expertise‘ and ‘a highly commercial outlook‘, Dechert LLP‘s commercial disputes team excels in cross-border finance disputes. The group is also increasingly active in finance market disputes involving issues of emerging technology, as well as in cryptocurrency disputes. ‘Tactically astute‘ practice head Dorothy Cory-Wright handles commercial litigation and contentious regulatory issues and Adam Silver who specialises in financial litigation, fraud and contentious insolvency. The ‘very forensic‘ recently promoted partner John Bedford is recommended for investigation-heavy litigation.
Other key lawyers:
Adam Silver; Stephen Surgeoner; Andrew Hearn; John Bedford; Daniel Natoff; Simon Fawell
‘Very significant expertise, coupled with a highly commercial outlook and a very pleasant team to work with.‘
‘The Dechert dispute resolution/litigation team is a strong team with outstanding leadership from Adam Silver. We are currently working together in some strategically challenging litigation involving jurisdictional and cross-border issues, with which this team is very familiar.’
‘Understanding of the area and an approach to disputes which is both intelligent and commercial.’
‘Dorothy Cory-Wright, tactically astute and very experienced. John Bedford – very forensic so very good at investigating possible irregularities and/or working out complex issues of fact and law.‘
‘Adam Silver – one of the rare lawyers who is both outstandingly intelligent and very commercial. ‘
‘Andrew Hearn gives sensible strategic advice, is always on top of the detail, and a pleasure to deal with. Daniel Natoff (senior associate) is switched-on and hard-working, and a nice guy. ‘
‘Stephen Surgeoner is technically superb, highly intelligent, excellent on tactics, and a very pleasant person to deal with.‘
‘I had the privilege to work with Simon Fawell and John McGrath over the last couple of years in a complex derivative litigation case. Each of them contributes to a team of exceptional strength. They are real team players and very good to work with.’
VTB Bank (PSJC)
Ad Hoc Committee of Noteholders of PJSC Commercial Bank “PrivatBank”
Various Lebanese Banks, including Blom Bank S.AL.
The Financial Conduct Authority
Hasim Bora Özerman and Fusun Gonen
- Advising the Ad Hoc Committee of Noteholders of PrivatBank in an English High Court dispute regarding the proper interpretation of complex finance documents used across the capital markets and the treatment of bank “bail-ins”.
- Advising Dame Elizabeth Gloster (a former Lady Justice of the English Court of Appeal and current Judge of the Abu Dhabi Global Market Courts) in her capacity as the independent investigator appointed at the direction of Her Majesty’s Treasury in respect of the FCA’s regulation and supervision of London Capital & Finance plc which collapsed in January 2019, putting at risk approximately £230m invested by over 11,000 retail investors.
- Advising VTB Bank as a secured senior lender in relation to a high-profile dispute between the Essar Group and ArcelorMittal.
Fieldfisher's 'outstanding' banking litigation team has particular experience in disputes arising from multiparty structured finance transactions. It has a strong reputation for Russia and CIS region-related litigation, while Aymen Khoury is a key contact for banking litigation relating to the Middle East. Practice head Andrew Lafferty, financial regulations expert Duncan Black, Kit Jarvis and James Lewis are among the other names to note. Donna Goldsworthy, who has banking litigation and asset tracing experience, joined from BDB Pitmans.
Other key lawyers:
Duncan Black; Kit Jarvis; Helen Mulcahy; James Lewis; Aymen Khoury; Vanessa Wilkinson; Donna Goldsworthy
‘Polished and effective team.‘
‘Aymen Khoury is a clever and sensible litigator. He is creative and looks for all angles on his client’s behalf. Vanessa Wilkinson is efficient and thorough.’
‘This firm has a very strong litigation department for dealing with CIS disputes.‘
‘Andrew Lafferty is a thick-skinned seasoned operator who rides the waves created by heavyweight litigation with stoic resolve.’
‘Fieldfisher have an outstanding banking litigation practice.‘
‘Helen Mulcahy is a uniquely talented and experienced partner. Helen is not only an outstanding lawyer but also a shrewd judge of litigation strategy.‘
‘Fieldfisher is a European law firm with practices in many sectors. Wide net of associates helps to advise clients in different states and fields as technologies, financial services and others.’
‘Tracey Wright – very knowledgeable with a lot of practical knowledge that ensures that the right tactical decisions are made at the right time.‘
Open Access Finance Ltd
Mr David Standish and Mr James Bennett of KPMG as Joint Liquidators of Argyle UAE Limited
- Acting for the First Defendant, in a $2.6bn claim brought against him by PrivatBank, the largest commercial bank in Ukraine, formerly owned by our client and a business associate.
- Defending Open Access Finance Ltd (which operates a peer-to-peer lending platform) in a claim brought by a practising solicitor who has taken out multiple loans via the platform and claims damages for misleading actions contrary to Consumer Protection from Unfair Trading Regulations 2008; damages pursuant to section 138(d) of the Financial Services and Markets Act 2000, and relief under section 140(b) of the Consumer Credit Act 1974.
- Successfully defended Wirecard in a conspiracy claim arising out of an Indian acquisition.
Hausfeld & Co LLP's commercial disputes practice acts for claimants in 'complex contentious banking and investment matters with pragmatism and expertise'. The 'absolutely brilliant' Lianne Craig leads the team which includes managing partner Anthony Maton, John McElroy, 'brilliant partner' Lucy Pert and Ned Beale, who recently joined from Trowers & Hamlins LLP. With previous experience working in the financial services sector, senior associate Simon Bishop is 'a real asset to claimants when litigating against banks'.
Other key lawyers:
Anthony Maton; Lucy Pert; Simon Bishop; John McElroy
‘Nimble and effective litigators with great expertise and a commitment to claimant work.‘
‘Lucy Pert is a brilliant partner: clever and with a feel for the right answer. Lianne Craig is a genius in devising clever approaches and without match.‘
‘Hausfeld’s banking and finance practice attracts some of the most interesting and high-profile banking disputes around, tending to work for claimants/borrowers against financial institutions. The firm has a similar ethos to some of the smaller litigation boutiques, but within the fully functioning infrastructure and resourcing of a larger firm, which means that they are able to easily keep pace with their Big Law opponents in substantial cases.‘
‘Lianne Craig is absolutely brilliant. She is an exceptional technical lawyer who has a real eye for detail, but she is also an outstanding litigation strategist who is able to manoeuvre tricky situations to achieve brilliant outcomes for her clients. She is also fantastic at managing a team and a case and has taken Hausfeld’s banking practice from strength to strength. In short, she is a real star.’
‘Simon Bishop is fantastically bright and remains the best Associate/Senior Associate that I have worked with. He has insider industry experience, having previously worked in banking, which is a real asset to claimants when litigating against banks. Simon is very hard-working, has an unparalleled eye for detail and really gets stuck into the substance of his cases, with a degree of enthusiasm and rigour that goes well above and beyond the norm. He is brilliant with clients and colleagues, clients and counsel all love working with him. Simon is also very business-minded and is brilliant at spotting legal trends and identifying emerging issues in litigation – a real thought leader. ‘
‘Probably the go-to firm acting on the investor/borrower side of the market: quite superb in this space.‘
‘John McElroy is clear and concise in his advice, takes charge of a matter and communicates well throughout. The relative merits of a client’s position are addressed honestly and sensitively.‘
‘The team handles complex contentious banking and investment matters with pragmatism and expertise. Industry knowledge coupled with commercial insights and understanding what the client wants. Cross-border matters are second nature to them. Their highly professional and responsive team are a pleasure to work with.‘
Evans, former Inquiry Chair at the Competition and Markets Authority (Re: Foreign Exchange)
Leeds City Council Greater Manchester Combined Authority North East Lincolnshire Council Newcastle City Council Oldham Council Nottingham City Council Sheffield City Council
Andrew Hosking of Quantuma LLP as liquidator of Ventra Investments Ltd
All Party Parliamentary Group on Fair Business Banking
- Acting for claimants in a collective action against six global banks seeking damages in respect of unlawful practices in the FX market.
- Acting for seven local authorities in claims for the rescission of various lender option, borrower-option loans (LOBO Loans) agreed with Barclays between 2005 and 2008.
- Acted for Ventra Investments in a claim against Bank of Scotland alleging fraudulent misrepresentations relating to interest rate hedging products sold by the bank which allegedly led to the claimant’s business to fail and become insolvent.
Jones Day's financial markets disputes team acts for banks and financial institutions with particular expertise in cross-border litigation. It counts defending group actings in the banking space among its areas of experience. Sion Richards, Adam Brown, Nicholas Cotter and Rhys Thomas are key contacts.
Other key lawyers:
Adam Brown; Nicholas Cotter; Rhys Thomas; Sion Richards
Sidley Austin LLP's banking litigation team counts acting for funds and financial institutions in structured finance, product misselling and derivatives disputes among its areas of expertise. Practice head Matthew Shankland has particular experience in structured finance and derivatives disputes. Andrew Fox excels in insolvency-relating banking litigation, while for contentious regulatory and financial crime matters, Sara George is noted.
Other key lawyers:
Andrew Fox; Sara George; Alastair Hopwood; Sarah Lainchbury
‘The main reason to use Sidleys is their level of client service. They are incredibly responsive and will seemingly drop everything to speak if required.‘
‘Andrew Fox is an exceptional partner. He always seems to genuinely want to get the right result for his clients, and goes to great lengths to achieve this. His deep technical knowledge allows him to advise with confidence and he is generally up for an argument if there is one to be had – and tends to win them!‘
‘Sarah Lainchbury is an excellent associate. Very hard working, very confident, very capable and again offers excellent client service. She works well with Andrew Fox and together they form a formidable team.‘
‘Matthew Shankland is an exceptional litigation partner – able to manage large teams and complex matters effectively, and always keeping a focus on a client’s ultimate commercial objectives and priorities. He brings excellent legal analysis and strategic instincts to the table.’
‘Matt Shankland – star individual litigator; very well-known in the market. Alastair Hopwood – recently promoted partner; very calm and strategic thinker. Sarah Lainchbury – exceptional senior associate: very hard-working and excellent lawyer. ‘
‘A great team to work with: hardworking, reliable and strong legal skills. Particularly impressive on client care – ensuring that a client’s commercial concerns are always central to key decision making and strategy discussions, which is based on a deep understanding of their client’s businesses.’
‘Very experienced and well-staffed team with great litigators.‘
‘Excellent responsiveness and superb work product.’
Deutsche Bank AG Limited
Genworth Financial, Inc
- Representing global investment bank and financial services company Deutsche Bank AG in key UK High Court proceedings concerning, amongst other things, the determination of the relative ranking of various categories of subordinated liability in the administration of two Lehman Brothers entities.
- Acted for leading US insurance firm Genworth in a major PPI mis-selling-related litigation worth over £600m.
- Represented Travelex, a global supplier of foreign currency exchange services, in a claim issued by Rawbank SA, the largest bank in the Democratic Republic of Congo.
Collyer Bristow LLP's conflict-free banking and financial disputes practice is a popular choice for claims against banks and counts foreign exchange disputes among its specialist areas. The 'top-quality' Janine Alexander is experienced in financial markets litigation including derivatives disputes, as well as property and development finance disputes. 'Rain-maker' Stephen Rosen leads the practice while head of the dispute resolution group Robin Henry is another name to note for derivative contracts disputes and misselling claims.
Other key lawyers:
Robin Henry; Janine Alexander; Robin Henry; Craig Deuchrass
‘Collyer Bristow’s banking litigation is at the front line in battles against banks. They are usually conflict-free to act against banks. They have a deep knowledge of the new developments in the financial industry and upcoming matters that will be litigated. To the extent necessary, they include in their team a member of their regulatory team to analyse the impact of financial regulations on the investor’s right toward the opposing financial institution.’
‘Janine Alexander is a top-quality solicitor with an acute sense of business and full knowledge of the industry. Sharp analysis and solution-minded. Always a pleasure to work with her.’
‘We have been working together with Robin Henry (Partner) and Craig Deuchrass (Senior Associate). They are both very diligent in their decision-making process. They carefully weigh the pros and cons of different potential strategies always having the “risk/reward ratio” in mind.‘
‘Very short response time. Quick in composing a team of true experts in their respective fields. Collyer Bristow understand to put together the right team of experts for each individual case.‘
‘Innovative, think outside the box, variety of interesting work. Driven, and leaves no stone unturned to do best for client.’
‘Janine Alexander, partner. Highly intelligent, terrier-like in her pursuit of angles to benefit her client. Hard-working and indefatigable. Stephen Rosen, for many years a partner, now a consultant. Rain-maker. Assiduous in ensuring that clients are happy. Careful, and wishes to explore every avenue & facet of a case.’
‘Stephen Rosen works very hard at the relationship with us. He and his colleagues are always available to explain matters clearly and succinctly. We enjoy their innovative hospitality in the form of viewings in their private gallery (until COVID hit!) which is also a good opportunity to meet the Collyer Bristow wider team.’
‘The Partner we have worked with the most is Stephen Rosen. He is always very engaged in the work himself, while also ensuring he gets the best out of his team. Most of all, he always puts the client first, making sure the project team is providing value at every stage before proposing fresh avenues of work. Stephen is always faultlessly polite and good fun to work with.’
Salzgitter Mannesman GmbH
Musst Holdings Limited
Napier Park Global Capital
Trattamento Rifiuti Metropolitani SpA
- Acted for Salzgitter Mannesmann in a £1.4m claim against Natwest Markets over ‘dividend stripping’.
- Acted for Trattamento Rifiuti Metropolitani (TRM) in a dispute with BNP Paribas involving interest rate swaps and competing interpretations of English, Italian and EU law and the jurisdiction of the English and the Italian courts to hear disputes where the parties agreed different exclusive jurisdiction clauses in separate agreements.
- Acted for Napier Park Global Capital (as junior bondholders in a Collateralised Loan Obligation structure) in a dispute with Barings (UK) Ltd, the Collateral Manager, as to whether an incentive fee was payable to Barings under the loan structure.
Gowling WLG's commercial litigation team leverages its financial services regulatory, structure finance, fraud and restructuring expertise in financial services disputes. Its broad experience includes acting both for and against investment banks and funds. James Sidwell (who has a breadth of experience in financial services disputes including those involving regulatory issues, asset tracing and fraud) leads the group which includes Catherine Naylor who focuses on multijurisdictional disputes. Alex Jay joined Stewarts Law LLP.
Other key lawyers:
Catherine Naylor; Verity Barker
First Peninsula Trustees Limited and Port of Hercules Trustees Limited
J.P. Morgan Bank Luxembourg SA – London Branch
Grant Thornton LLP
Stephen Hunt in his capacity as liquidator of Transworld Payment Solutions U.K. Limited (in Liquidation)
Kevin Hellard and Marcus Wide as liquidators of Durant International Corp and Kildare Finance Limited and MacDoel Investment Limited
RSM Restructuring Advisory LLP
- Acted for two corporate trustees in high-value, multi-jurisdictional litigation arising out of the Madoff Ponzi scheme fraud.
- Acting for JP Morgan in a dispute arising from financing in the region of US$50m provided to company registered in the Cayman Islands this includes enforcement of security against corporate entities and investments as well as against the UK-based controlling individual.
- Advising the liquidator of Transworld Payment Solutions UK in a £200m contribution claim against the First Curacao International Bank N.V. and its ultimate beneficial owner in relation to widespread missing trader intra community fraud committed against HMRC through the use of First Curacao International Bank accounts.
Humphries Kerstetter LLP
Commercial dispute boutique Humphries Kerstetter LLP frequently acts for investment banks, private equity houses and fund management companies in banking litigation. Among the key contacts are 'outstanding litigator' Mark Humphries and Kristopher Kerstetter, who have broad commercial litigation experience including in the financial services sector; banking litigation specialist Christopher Braithwaite, James Russell (who is particularly active in derivatives disputes), and Joanna Pearson, who recently joined from Simmons & Simmons adding significant experience in investor claims, disputes arising from financial products and structures and contract interpretation litigation.
Mark Humphries; Kristopher Kerstetter; Christopher Braithwaite; James Russell; Toby Starr; Joanna Pearson
Other key lawyers:
Christopher Braithwaite; Toby Starr; James Russell
‘Very client-focused, technically strong and partner led.‘
‘Mark Humphries – an outstanding litigator with a very commercial approach whilst commanding huge technical knowledge.’
‘The firm draws well in this area on its experience in competition litigation as well as commercial litigation. The firm is not afraid to engage with big challenging opportunities against the largest opponents.‘
‘Mark Humphries is stand out in this area. His vision and intellectual reach sustains the practice.‘
Group interchange claim with circa 100 groups of claimants, and increasing, which include Co-operative Group Limited, JD Wetherspoons, Coral Racing Limited, Harvey Nichols Group Limited, Associated Independent Stores Limited and 96 local government authorities.
Marfin Investment Group
One Blackfriars Limited (In Liquidation)
- Representing groups of merchants in their claims against MasterCard and Visa for overcharging on interchange fees.
- Acting for investment group Marfin Investment Group and three individuals in an appeal against a worldwide freezing order.
- Acted for the Joint Liquidators of One Blackfriars Limited in a claim against the former administrators of the property development company for professional negligence and breach of duties.
With 'excellent knowledge of the banking sector', Kingsley Napley LLP's banking litigation team is popular among individuals, entrepeneurs and SMEs bringing claims against banks. The group handles the full spectrum of criminal, regulatory and civil contentious matters across the banking arena and is particularly active in investor and mis-selling claims, fraud-related disputes and fraudulent misrepresentation. Practice head Richard Foss, Sue Thackeray (who frequently handles multijurisdiction disputes), the 'highly experienced' Fiona Simpson, and the 'tough and seasoned litigator' William Christopher are key contacts.
Other key lawyers:
Sue Thackeray; Fiona Simpson; William Christopher; Jemma Brimblecombe; Mary Young; Emily Grieg
‘A compact and tight-knit team that has excellent knowledge of the banking sector and real specialism in civil fraud matters. Very strong client handling and management skills.‘
‘Fiona Simpson is a highly experienced partner who is no-nonsense and applies a huge amount of common sense to every problem, always seeking the right practical solution for the client‘
‘Will Christopher is a highly knowledgeable partner with a formidable mind. He is a tough and seasoned litigator. Jemma Brimblecombe is an excellent senior associate. Extremely diligent and thoroughly on top of all the detail of a case, however complex.’
‘Kingsley Napley is a lesser-known player in this area but has a raft of quality lawyers in its ranks, who are also very human and approachable. They understand clients and also know how to deal with counsel.‘
‘They are the right firm for entrepreneurs, individuals and small to medium-sized corporates. They can more than hold their own against the bigger city firms but by clients are more likely to get a more individualised service, more partner contact and a more streamlined and continuous service than the larger firms.’
‘Mary Young – she has a steely-eyed focussed. Does not give up and will keep fighting for her client even when the outlook is pretty hopeless – AND when the outlook is pretty hopeless she manages to swing a result. She also has a real interest in the law. Emily Grieg – an up and coming associate – one to watch.’
Mishcon de Reya LLP's finance and banking disputes practice regularly acts against banks in litigation and counts corporate finance and private equity disputes among its other areas of expertise. Practice head Derval Walsh (who attracts praise for his 'deep technical knowledge') handles a range of complex finance, investment and retail banking disputes. The 'superb' recently promoted legal director Samantha Kakati is another name to note. Genevieve Quierin joined Stephenson Harwood in November 2020
Other key lawyers:
‘Derval Walsh leads from the front with his deep technical knowledge, gravitas and commercial touch. Demonstrable experience in all features of contentious financial services matters.’
‘Legal director Samantha Kakati is superb.’
The ECU Group plc
Crane Bank Limited and Dr Sudhir Ruparelia & other shareholders of Crane Bank Limited
Borro Group and Victory Park Management LLC
Ms Meng Wanzhou (CFO of Huawei)
Quantum Power International Holdings Limited
- Acting for the UK’s longest established currency debt management firm, The ECU Group Plc, in a £100m market manipulation claim against HSBC.
- Defending Maze Sàrl in eight related sets of proceedings seeking damages of €900m in the English and Luxembourg courts for alleged fraud, conspiracy and collusion in loan enforcement proceedings.
- Acting for Crane Bank, its founder and chairman, Dr. Sudhir Ruparelia (the wealthiest individual in Uganda) and certain other shareholders in a USD250m claim for fraud, conspiracy and knowing receipt following the alleged intentional (and unnecessary) closure of Crane Bank by the Bank of Uganda and the sale of its business to a competitor.
Morgan, Lewis & Bockius UK LLP's 'excellent' litigation, regulatory and investigations practice has a breadth of experience in cross-border banking and investment fund disputes. Melanie Ryan has an impressive breadth of cross-border banking litigation experience and complementary financial services regulatory and investigations expertise. Ryan leads the team alongside Chris Warren-Smith whose experience includes advising financial institutions, wealth managers and stockbrokers in disputes arising from regulatory challenges.
Melanie Ryan; Chris Warren-Smith
Other key lawyers:
Peter Sharp; David Waldron; Paul Mesquitta
‘Excellent team of professionals, allowing to count on them in difficult cases. Knowledge, experience in cross-border banking disputes is beyond doubt.’
‘Peter Sharp – stand out intellect. David Waldron – great strategist and team leader.‘
‘Associate Paul Mesquitta is making a name as a first rate banking litigator. Very assiduous and a strong legal brain. A charming and natural leader.‘
‘Well-placed and growing banking team.‘
‘The London litigators have handled more securities litigation that many of their competitors.‘
‘A great all round operation with access to offices around the world.‘
PCB Byrne‘s banking litigation practice was strengthened by the merger of PCB and Byrne & Partners in March 2021 and counts fraud-related banking disputes, enforcement and insolvency litigation. The merger follows the acquisition by litigation funder Burford Capital of an equity stake in legacy firm PCB, this increased options for banking clients to pursue enforcement of non-performing loans. The group attracts praise for having ‘exceptionally good lawyers at every level‘ including managing partner and ‘great tactician‘ Anthony Riem, the ‘outstanding‘ Trevor Mascarenhas, Nick Ractliff, ‘excellent lawyer‘ Jon Felce, Natalie Todd and recently promoted partner Priyanka Kapoo.
Anthony Riem; Jon Felce
Other key lawyers:
Trevor Mascarenhas; Nick Ractliff; Jon Felce; Natalie Todd;
‘Exceptionally good lawyers at every level – partners and associates. This boutique firm holds its own against much larger magic firms.‘
‘Trevor Mascarenhas: He is extremely clever, has an encyclopaedic knowledge of fraud case law, and is an excellent strategist. Jon Felce: He has a great legal mind and an eye for detail. Natalie Todd: She is a junior partner who is one to watch. Great management of the case team and extremely good at telling the client how it is.‘
‘I am very supportive of the ground-breaking PCB Byrne merger which sees two top tier boutiques join forces and in doing so being the first firm to enter in to a deal with a litigation funder.‘
‘Tony Riem – enormously experienced and client-driven. Sound judgment and tenacity to get the best result. Trevor Mascarenhas – an outstanding lawyer with a rare ability to see all the angles.’
‘Superb partner-led firm; very commercial in outlook with all the advantages of litigation boutique – means that they have real expertise across the firm. They work very well as a partner-led firm in tandem with the Bar. Despite their merger and expansion they remain a partner-led firm, which means that client get the experience and expertise directly in all cases.’
‘Natalie Todd is personable, professional and user friendly. Trevor Mascarenhas is great on strategy and tends to be a few steps ahead of the pack.’
‘PCB are a boutique litigation outfit who regularly punch above their weight. They have been recognised as a leading firm in civil fraud matters for a number of years, having been involved a number of high-profile cases. They also perform well in banking and finance disputes, particularly those with a CIS dimension.‘
‘Jon Felce – an excellent lawyer, is headed for the very top. Anthony Riem – very experienced litigator and great tactician. Natalie Todd – great to work with, always on top of the detail. Trevor Mascarenhas – a brilliant legal mind.’
H.E. Saeed Al Qesaibi
IFT S.A.L. Offshore
- Acting for VTB in a €225m fraud claim between Russia’s two largest banks in the Commercial Court, with freezing injunctions in support of related consolidated LCIA arbitration proceedings.
- Defending a US$1bn claim brought by Abu Dhabi Commercial Bank against two personal guarantees in respect of lending to NMC Healthcare (a FTSE 100 company which collapsed with understated debt of several billion dollars) as well as related proceedings by other banks and financial institutions.
- Defending businessman Walid Giahmi in high profile proceedings brought by the Libyan Investment Authority against our client and various banks, this time Credit Suisse seeking rescission of a US$200m investment in structured notes.
Noted as 'the thorn in the retail banks side', Penningtons Manches Cooper LLP's commercial dispute team is particularly well-known for acting against banks in litigation. It counts swaps litigation, international settlement disputes and group litigation among its areas of expertise and also acts for banks in claims. Alexander Fox leads the business and financial disputes team while Rustam Dubash heads the commercial dispute resolution group and David Niven leads the group litigation practice. Senior associate Charlotte Hill specialises in financial services disputes including LIBOR manipulation and crypto-asset disputes.
Rustam Dubash; Alexander Fox; David Niven
Other key lawyers:
Charlotte Hill; David O’Brien; Emma Davies; Bronagh Adams
‘They are the thorn in the retail banks side! Alex Fox and Charlotte Hill understand how those banks operate and the tactics they deploy, and meet those strategies head on and with an almighty force.’
‘Alex Fox is quick to go the second mile for the client and is constantly looking for creative solutions to legal disputes. David Niven has one of the strongest track records of class actions in the financial services arena. David O’Brien is one of the rising stars of banking litigation. He is distinguished by his attention to detail and his commitment to achieving the best outcomes for his clients.’
‘Alex Fox is a strategic wizard. Unlike some, he has an extremely firm grip on the detail, whilst also being able to see the big picture and take good tactical decisions. He’s also lovely to work with and great company.‘
‘Charlotte Hill is a force of nature. She really steps up to the plate and takes the lead on cases, and is no doubt a partner-in-waiting. She’s knowledgeable, hard-working and an excellent quarterback on cases, directing the work and shouldering her share of the load too. She also seems to be something of an opponent-whisperer: I’ve never seen someone get on so well with opponents, clients, and potential witnesses, and it’s a real secret weapon in hard-fought commercial litigation.’
‘The team has some of the most in-depth knowledge of both the commercial realities and legal issues surrounding banking litigation; with an appreciation of how the various products work in practice and how this fits into the analysis of their effect upon a customer in circumstances of mis-selling and misrepresentation. The team has been involved in, amongst other things, some of the most significant disputes concerning LIBOR manipulation litigated in London.‘
‘The team has real strength in depth: they all muck in, from the partners down, and there are no weak links. The junior associates and paralegals are extremely efficient, and have an adamantine work ethic. They really do go the extra mile, and it makes a difference.‘
‘Alex Fox is a dynamic leader, inspiring others by his determination and good humour, and sets the tone for the team. He is also fiercely bright and quick to see a point. Charlotte Hill and Bronagh Adams are highly intelligent and strategic thinkers. Charlotte is particularly creative and able to see matters obliquely. Emma Davies is utterly determined and indefatigable. She will work as hard as the situation requires and will not give up until done.’
Hope Capital Ltd
Social Money T/A BridgeCrowd
Fiduciam Nominees Ltd
United Bank UK
Capreon (UK) Ltd / Noe Group
- Defended an ultra high net worth individual in English proceedings brought by German bank group against the main shareholder of large industrial company for sums in excess of $180m, alleged to be owed by him pursuant to a series of guarantees and indemnities given in the context of facilities provided to the company.
- Defending a real estate company in a disputes for break costs arising out of an early termination of an ISDA.
- Acting for a bridging lender (Hope Capita) in a professional negligence valuation claim against Alexander Reece Thomson.
Pinsent Masons LLP
Pinsent Masons LLP‘s banking and finance litigation team acts for UK and foreign banks in international disputes with particular expertise in derivatives disputes and LIBOR claims. The ‘strategic‘ and ‘authoritative litigator‘ Stuart McNeil leads the team and has a breadth of experience in a range of banking disputes. The ‘vastly experienced‘ legal director Mike Hawthorne is particularly strong for swaps litigation, while for civil fraud issues in the financial services sector Alan Sheeley and senior associate Michael Reading are noted.
Other key lawyers:
Alan Sheeley; Mike Hawthorne; Andrew Barns-Graham; Michael Reading
‘Heavy litigation in the banking sector – Experienced partners and an excellent associate team; at significantly lower rates than the magic circle but with all of the equivalent judgment and experience.’
‘Stuart McNeil – clever, strategic and a pleasure to work with. Solicitor Rachelle Issa – a superb litigator who will be a big star.‘
‘Mike Hawthorne: attentive and user-friendly with clients and counsel, while being ruthless with the opposition. Mike is vastly experienced, endlessly energetic, and obsessed with fighting his client’s corner in the most efficient and cost-effective way possible. Stuart McNeil: Stuart is a calm, authoritative litigator with huge experience of banking litigation and beyond. Cool-headed, decisive, and a pleasure to work with.‘
‘A highly experienced, flexible, and user-friendly team, characterised by hands-on partners backed by a great crop of associates and top-class support and infrastructure.’
‘A hardworking and dedicated team who deliver results.’
‘Andrew Barns-Graham is a top drawer associate, who carries the day to day load and masters the detail.‘
LLB Verwaltung (Schweiz) AG
NatWest Markets Plc
Collyer Limited (and other defendants in Privatbank case)
SpA Banca Intesa Sanpaolo
- Represented Dexia Crediop in litigation against Italian local authorities concerning interest rate hedging from the pre-2008 period.
- Acting for Dexia and Banca Intesa Sanpaolo in a claim against the city of Venice relating to the enforceability of certain interest rate hedging products, which it entered into in 2007.
- Acting for NatWest Markets Plc in respect of a claim by 27 claimants, who allege that the Bank dishonestly participated in transactions involving the sale and purchase of European Union Allowances that resulted in the claimant companies incurring VAT liabilities that they were unable to pay.
Squire Patton Boggs' team handles regulatory issues, investment misselling litigation, disputes arising from complex finance transactions, private equity disputes, international fraud and asset tracing. Stephen Sampson leads the litigation practice while Gareth Timms is noted for multijurisdictional banking disputes, including Islamic finance, asset tracing and fraud-related work. Other names to note include the 'commercially minded' Chris Webber and 'superstar' senior associate Katherine Wakeham.
Other key lawyers:
Gareth Timms; Chris Webber; Katherine Wakeham
‘Everyone we have dealt with in the team has been very strong in terms of both technical knowledge and strategic ability. There is a real focus on client service, and team members make themselves available on very short notice and during unsociable hours as a matter of course.’
‘Chris Webber is very technically smart, pragmatic and strategic. His advice is sensible, commercially minded and legally robust.’
‘In terms of litigation, I have most frequently dealt with Kate Wakeham, who is a superstar. She is available day and night, and a very calming, pragmatic and sensible influence in any circumstance. She has exceptional technical knowledge and is very easy to deal with.‘
Administrators of Duet Capital (Holdings) Limited
Robin Forster (owner of the Qualia Care group of companies)
Gallium Fund Solutions Limited
- Defending the founder of the Qualia Care group in £48m civil restitution proceedings brought by the FCA, which alleges that our client was knowingly concerned in operating unauthorised collective investment schemes.
- Acting for the administrators of Duet Capital following the discovery of fraud in relation to a £27m loan facility.
- Advising Gallium in relation to the high-profile collapse of mini-bond provider Basset & Gold plc, resulting in £36m of losses to investors.
Taylor Wessing LLP's disputes and investigations team has a breadth of experience in financial services and banking litigation with particular expertise in those arising from an insolvency context. Leveraging the firm's strong technology focus, it also has a growing cryptocurrency disputes practice. Laurence Lieberman acts for retail, investment and private banks, funds and other financial institutions in a full range of disputes and regulatory investigations. Tim Strong, Andrew Howell and recently promoted partner Stuart Broom (who has particular experience in professional negligence disputes) are other key contacts.
Andrew Howell; Laurence Lieberman
Other key lawyers:
Tim Strong; Andrew Howell; Stuart Broom; David de Ferrars
‘Laurence Lieberman – clients have called him ‘Mr Cool’ – calm under fire, charming and clear-sighted in achieving client aims.‘
‘The customer-centricity was outstanding.‘
‘The personalised service and availability of the partner stood out.‘
Professor Russell Griggs OBE
Joint Official Liquidators (“JOLs”) of Saad Investment Company Limited (In Liquidation)
- Acting for Professor Griggs in his role as the Independent Reviewer of a redress scheme set up by Lloyds Banking Group in relation to SME customers impacted by the criminal fraud that took place in the Impaired Assets Office of the Reading branch of Halifax Bank of Scotland (HBoS) (which Lloyds acquired in 2008).
- Representing the Joint Official Liquidators of Saad Investment Company Limited (In Liquidation) in a $40m subrogation claim arising from complex cross-border banking arrangements against a Bahraini bank, Awal Bank BSC and JP Morgan International (since substituted for JP Morgan Bank Luxembourg SA).
TLT's 'commercially savvy' banking litigation team was bolstered by the arrival of a twelve-strong litigation team from Dentons, led by the 'exceptional' Clare Stothard (who has particular derivatives mis-selling disputes expertise) and Steven Mills, who has experience in litigation relating to investment, corporate and retail banking products. Andrew Lyon continues to lead the team which includes the 'excellent' Peter Richards-Gaskin, who acts for banks in disputes involving SMEs, and Paul Gair, who is building the international banks practice and is particularly popular among Indian banking clients.
Other key lawyers:
Peter Richards-Gaskin; Clare Stothard; Steven Mills; Kanika Kitchlu-Connolly; Nick Curling; Jack Hargreaves; Claire Kershaw
‘The team are knowledgeable, commercially savvy, and quick to deal with emerging disputes with the urgency required.’
‘Clare Stothard is exceptional. She is very experienced, and very calm. She is on the ball.‘
‘Paul Gair – a very capable lawyer, who is also excellent with clients. He is unflappable, and makes the right tactical calls. Legal director Nick Curling – has just the right blend of legal skills, attention to detail, and an excellent sense of judgment.’
‘Clare Stothard remains head and shoulders above her contemporaries in terms of level of engagement as well as quality of work. A direct but diplomatic advocate, she knows what is best for her clients and knows how best to deliver the message. A true standout performer year on year.‘
‘The team has an excellent reputation and relationships with the Indian banking market, which has been developed over many years. The team itself is comprised of very good lawyers, who are also down to earth, practical, pragmatic and delightful to work with.’
‘Paul Gair – an excellent leader of the team – outstanding appreciation of the strengths and weakness of a case. Legal director Claire Kershaw – a wonderful associate solicitor adept at running the most complex cases.‘
‘Paul Gair – great team leader and highly experienced litigator Kanika Kitchlu-Connelly – a star restructuring and insolvency partner. Legal director Nick Curling – amazing technical expertise Jack Hargreaves – up and coming star.‘
‘Peter Richards-Gaskin is excellent, highly skilled and combines technical excellence with practicality and a strong client focus.‘
State Bank of India
Bank of India
Punjab National Bank (International) Limited
Coutts & Co
- Acting for a consortium of 13 Indian banks on the registration and enforcement of an Indian Judgment in England & Wales against Dr Vijay Mallya and in obtaining a freezing injunction against him.
- Defending claims brought against Coutts & Co, National Westminster Bank plc, The Royal Bank of Scotland plc by 50+ individuals relating to investments in film finance schemes promoted and operated by the Ingenious Media group.
- Defending Barclays Bank UK PLC in an Authorised Push Payment (APP) fraud whereby the claimant alleged that the bank had breached its duty of care to her, relying on the so-called Quincecare duty, she said the bank was on inquiry as to the potential fraud, it should have asked her additional questions, blocked her account and prevented her loss.
The banking and financial services litigation team at conflict-free dispute firm Wallace LLP is well known for bringing claims against banks and financial institutions, including large group claims. Practice head Alexander Weinberg has a breadth of experience acting for and against financial institutions; Oli Goldman is particularly strong for disputes involving bank fraud and litigation relating to structured finance and interest rate hedging products.
Other key lawyers:
Elizabeth Asher; Oli Goldman; Josephine Mathew
‘Alexander Weinberg – Alex knows the business well and is a go to for help. He’s smart, commercial and always able to help.‘
‘Elizabeth Asher is extremely committed to our case and maintains this despite the extensive challenges of dealing with a Swiss bank. She is also honest about the capabilities of the Swiss lawyers that we have to use to pursue the case. She has also done her upmost to minimise the cost of pursuing the case.‘
‘The team at Wallace is very responsive and you would not have to send out chasers and /or calls to get your work done or get in touch with a partner. Given that every client of theirs would probably have urgent queries, we never felt like our matter was not a priority.’
‘Alex Weinberg and Josephine Mathew were an absolute pleasure to work with. We were much at ease knowing that our matter was being handled by the best in the industry without having to deal with egos that some of the lawyers of their calibre often carry.‘
‘They are responsive and highly professional. They react quickly and answer all the demands completely and in a timely manner. They are reliable and know what they do. The team is always available.‘
‘A medium-sized firm that punches well above its weight. Despite having a strong property transactional client base, the firm’s dispute resolution department is growing and handles all manner of disputes across a wide range of sectors.’
‘Practical, commercial advice from lawyers who are well-connected to the best barristers.’
‘Alexander Weinberg brings together an appreciation of the drivers of claim value and a clear understanding of the law.‘
Investors in the LF Woodford Equity Income Fund
Mothercare UK Limited
Maplin Electronics Limited
- Representing at least 150,000 investors in the LF Woodford Equity Income Fund in £1bn group claims against Hargreaves Lansdown and Link Fund Solutions following its high-profile suspension in June 2019 and subsequent announcement that the fund will be wound down.
Withersworldwide's 'outstanding' litigation practice represents its impressive roster of clients (which includes funds, brokers, investment managers, small businesses and high-net-worth individuals) in claims against banks. 'Ferociously intelligent' Andrew Wass has particular expertise in financial mis-selling claims; and Harvey Knight has a breadth of expertise in financial regulatory issues. Joshua Swift is a senior associate to note for claims against banks relating to complex derivatives and other financial products.
Other key lawyers:
Harvey Knight; Joshua Swift
‘An outstanding practice – depth of knowledge in key areas of banking and finance law, including complex derivatives transactions.‘
‘Andrew Wass – banking partner. Extremely knowledgeable with broad investment banking / foreign exchange / financial services market experience. An outstanding litigator with excellent commercial nous.’
‘A solid presence in the market with great strength in depth.’
‘Andrew Wass – banking partner – comes from a banking background; he worked for many years for a well-known investment bank out in the Far East. A hugely clever and creative lawyer and extremely personable‘
‘It’s a strong team and clearly going from strength to strength. Associates are, as one would expect, dedicated and always available, and they’re delightful to deal with.’
‘Andrew Wass is charm itself, whilst also being ferociously intelligent. A perfect mixture of intellectual insight and charisma, he makes consultations a real joy for barristers and clients alike. Working with Andrew is a genuinely pleasurable experience, and a rare oasis of calm in the maelstrom of commercial litigation.’
Decisive Capital Management SA
- Acting for Decisive Capital Management as the claimant in a dispute under a Facility Agreement and associated Guarantee, related to the financing of a substantial property development project.
Bristol-based Burges Salmon LLP's banking and financial services litigation practice acts for and against banks and alternative lenders in national and global disputes. David Hall leads the practice which includes corporate litigator Andrew Burnette, assists banking clients in recoveries, professional negligence and fraud claims, and senior associates Caroline Brown and Hannah Miller.
Other key lawyers:
Andrew Burnette; Caroline Brown; Hannah Miller
Nationwide Building Society
Royal Bank of Scotland
National Westminster Bank
Financial Services Compensation Scheme Limited
- Managed a portfolio of cases for the Active Insolvency Management team in the RBS Group. These cases concern SMEs to which RBS or NatWest has provided loan facilities on which the customer has defaulted. The debts outstanding range from £50,000 to £1m.
Litigation boutique DaySparkes 'punches well above its weight' in banking disputes. It has a particular niche in claims relating to the Lloyds/HBOS Reading banking scandal and has growing expertise in cryptocurrency litigation. Michael Sparkes has 'exceptional experience in banking disputes' and leads the team alongside John Day; both are 'experts in unraveling complex disputes'. The 'super-bright' Gopi Binning was made up to director.
Michael Sparkes; John Day
Other key lawyers:
Gopi Binning; Liina Tulk
‘A tiny boutique that punches well above its weight owing to excellent partners and associates. Very knowledgeable in the commercial and banking / fraud sectors.’
‘This is a boutique practice where you get immediate access to the partner.‘
‘Michael Sparkes – diligent, considered and tenacious. Will not let go of a case until he gets a good result for his client. John Day – commercial and robust. very effective. Gopi Binning – super-bright and all over the detail of a complex case.’
‘A boutique firm which works more collaboratively than many others in the sector showing huge expertise and efficiency when tackling difficult legal issues. I found working with them a very positive experience and not simply because of the successful resolution to the case.’
‘Michael Sparkes has exceptional experience in banking disputes with a track record of positive results for his clients. His tough yet personable approach proves both comforting and successful. Gopi Binning is a rising star in the area, showing legal expertise, client focus and commercial acumen.‘
‘Liina Tulk is smart and efficient and supported me in dealing with preparing the case. She is utterly focused.‘
‘DaySparkes Limited provide an excellent, first-class, comprehensive service. Attention to every detail and communication on a personal level cannot be bettered. Superb resourcefulness in pursuing and resolving all issues is provided without fail.‘
‘Michael Sparkes and John Day are experts in unraveling complex disputes and offering the necessary guidance throughout their resolution. They offer excellent judgment in all situations and are freely available to contact. They are very ably supported by Gopi Binning who is extremely diligent in all respects and an excellent communicator.‘
- Acting for over 40 victims of the HBOS Reading Fraud in relation to their claims for losses for distress and inconvenience, in the voluntary redress scheme set up by Lloyds Banking Group, and their claims for direct and consequential and other losses, in subsequent redress schemes.
- Acting for the former founder and Managing Director of Cotton Bottoms Limited in her £50m claim against Lloyds Banking Group for damages for the destruction of her children’s clothing business as a result of the HBOS Reading fraud.
- Acting for the former managing director of the well-known surf and leisure wear brand, Kangaroo Poo, in connection with his £15m claim against Lloyds Banking Group for the total loss of his business at the hands of the HBOS Reading fraudsters.
Foot Anstey's Bristol-based team has a 'wealth of experience' in retail banking disputes. Mark Rhys-Jones leads the dispute resolution department while 'excellent tactician' James Gliddon leads the banking and lender disputes group and specialises in mis-selling, fraud and portfolio claims. Exeter-based Steven Richards and Plymouth-based legal director Nick Loewendahl (who has experience is disputes arising out of Sharia-compliant banking products) are other contacts to note.
Mark Rhys-Jones; James Gliddon
Other key lawyers:
Steven Richards; Nick Loewendahl; Terence Dickens; Ben Hay Peter Singfield
‘Mark Rhys-Jones (Partner) provides superb guidance and leadership with the team dealing with complex and finance disputes. James Gliddon (Partner) is an excellent tactician with an eye for detail. He brings a calm and steady hand to all the cases he handles. Nick Loewendahl (Legal Director) has a wealth of experience handling finance disputes. He is unfailingly friendly and efficient. Ben Hay (Senior Associate) approaches every task with enthusiasm and positivity as well as being a very safe pair of hands.’
‘Peter Singfield – very commercially focussed and extremely knowledgeable in the field – attracts great clients/work. James Gliddon – technically very strong with significant experience on the banking/lending/receiver side. Nick Loewendahl – extremely competent and a future partner – quality of his work and contributions is indistinguishable from what would be expected from partners. Terence Dickens – very strong on the investment and retail side and we have successfully worked together on a number of interest rate hedging disputes.’
‘The firm has some really good quality lawyers who are real specialists in their field, and who breed confidence to clients.’
‘A team with strength in depth with a wealth of experience as a result of its long-standing involvement in retail banking litigation. The team punches well beyond its weight for a firm of its size yet the team maintains a friendly personal approach to the work its undertakes.’
‘James Gliddon is an excellent lawyer. Knowledgeable, pragmatic, approachable and engaging with a real infectious enthusiasm for his work.‘
‘Very knowledgeable in money judgment claims and possession claims. Very aware of the reputational risk to their clients if we took an actions that the customer is challenging. They use a system called HQ that allows their client and then to liaise with each other via this application rather than emails and call.‘
- Acting for a major high street lender in a range of litigation including claim types against the bank and recoveries.
- Acting for a bank in complex recoveries actions giving rise to substantive contested litigation of material importance to the client.
- Defended a UHNW individual against an overseas bank’s efforts to appoint receivers and realise the £35m property portfolio. This matter involved allegations of economic duress, conspiracy, bad faith, defamation, breach of confidence, relational contracts and invalid appointments – resisted by way of injunction proceedings.
Greenberg Traurig, LLP launched its London banking litigation practice with the arrival of Masoud Zabet and Mohammed Khamisa QC from Mishcon de Reya LLP in March 2020. It attracts praise for offering 'the advantages of a boutique London litigation combined with the global reach of a top tier US firm' and counts corporate and real estate acquisition finance disputes and trade finance disputes and acting for investment fund clients in litigation among its areas of expertise. Of counsel Ian Bean is another key contact to note.
Other key lawyers:
Mohammed Khamisa QC; Ian Bean
‘The advantages of a boutique London litigation combined with the global reach of a top tier US firm.’
‘Masoud Zabeti – with the resources of Greenberg Traurig behind him, he is going to be one of London’s leading litigators.‘
‘I can say without hesitation that the team at Greenberg Traurig are the best litigation team I have used. With them leading the case, you have absolute confidence all of the time, which is extremely important in litigation. Their attention to detail is phenomenal and strategically they are always outsmarting the lawyers for our opponents.‘
JSC BTA Bank
Tradition Financial Services Limited/Tradition (UK) Limited
Crane Bank Limited (a Ugandan Bank) and its shareholders
Shareholder of Somap International PTE Limited
Astir Maritime Limited
- Acting for JSC BTA Bank in the recovery of assetsas part of the multi-billion USD fraud perpetrated by Mukhtar Ablyazov and his associates.
- Acting for Tradition Financial Services Limited (one of the world’s largest inter-dealer brokers) in its defence of a claim for dishonest assistance and fraudulent trading (under s.213 of the Insolvency Act) brought by the liquidators of various companies in liquidation relating to Tradition’s alleged involvement in a VAT carousel fraud involving the sale of carbon credits in 2009.
- Acting for the shareholder of a Singapore based shipping company in a series of related disputes (amounting to approximately US$130m) in the London Commercial Court brought by a number of financial institutions alleging breaches of various lending facilities.
K&L Gates LLP's 'strong' banking and finance disputes team attracts praise for its 'deep range of knowledge and experience'. The 'excellent' John Magnin (who frequently handles cross-border matters in the finance space) leads the team alongside Anne McCarthy, who counts real estate finance, security disputes and asset tracing among her specialist areas. Special counsel Clare Tanner's experience spans litigation arising from structured finance transactions, investment banking, banking-related professional negligence, insolvency and security and guarantees.
John Magnin; Anne McCarthy
Other key lawyers:
‘Communicated well. Put in the hours required, Understood us and our adversaries.’
‘John Magnin – voice of reason. Thought of legal angles the average high-level partner wouldn’t have.‘
‘John Magnin is an excellent disputes lawyer, very experienced, a great tactician – just the man to turn to with a problem. Declan Gallivan is a promising young associate.’
‘Strong team, easy to work with.‘
‘We had a nasty and tangled dispute matter. The K&L Gates team kept us sane and rational throughout the long process and helped us negotiate the best possible outcome. We were pleased with the end result. K&L Gates is good value for the money. Key capabilities: – extremely broad AND deep range of knowledge and experience from the key partners – fabulous K&L Gates network (both from a knowledge and geographic standpoint) – exceptionally responsive; they turned their deliverables around quickly – we genuinely liked the K&L Gates team – all of them! This was good since we spent a lot of time together. ‘
U.S. Bank Trustees Limited
CSC Trustees Limited
- Represented a client in connection with litigation at borrower level in a structured finance transaction.
Locke Lord LLP
Locke Lord LLP‘s ‘very experienced‘ banking litigation team stands out for its expertise across asset finance, consumer credit and payments disputes. Kevin Heath leads the practice, which includes experienced litigator and commercial chancery barrister, David Herbert, and senior counsel Michael Jacobs, who joined from Boies Schiller Flexner (UK) LLP in September 2021.
Other key lawyers:
David Herbert; Michael Jacobs
‘Locke Lord’s knowledge of the bank sector is second to none.‘
‘Kevin Heath is a leader in the field. His knowledge and experience sets him apart and he efficiently manages complex litigation to ensure they keep progressing towards a successful conclusion.‘
‘Very experienced team. Regarded as one of the best in sector. Fast acting. Innovative – they do not simply follow a process, they look at ways to expedite any action to get he best results for the client.‘
‘Kevin Heath is our main point of contact and demonstrates key qualities we like:- creative, don’t just follow a process responsive – regardless of time of day hard-hitting and effective – gets results commercial – always looking for most cost-effective solution.’
‘Michael Jacobs: very able lawyer who spots points others miss.’
Close Brothers/Close Leasing
Tnui Asset Finance
- Represented Close Brothers in a £500,000 asset finance dispute relating to the financing 6 excavators.
- Defending TechToPay in a £5m dispute brought by EMPCorp SA (Luxembourg) relating to monies (which which are being withheld from T2P by financial institutions in Malta and Denmark) that are allegedly due to the claimant under a payment processing agreement.
- Acted for the Trustee in Bankruptcy of Colin Poole (former solicitor) in a claim that the bankrupt transferred assets to his wife prior to his bankruptcy to put them beyond the reach of his creditors.
Morrison & Foerster LLP’s litigation team offers its banking and financial services clients expertise in a range of cross-border commercial and insolvency disputes. Practice head Jonathan Wheeler counts commercial disputes, international fraud, asset tracing and contentious insolvency work among his specialisms, while associate Richard Jerman has experience in claims involving complex financial products. The team works with colleagues across its international network in cross-border disputes, including in the US.
Other key lawyers:
Richard Jerman; Laura Steen
‘The UK firm is modest in size but strong on talent and client commitment. Partner accessibility and case leadership is a standout, you are never fobbed off to an associate.’
‘The standouts for me are Jonathan Wheeler (partner), Laura Steen (associate) and Richard Jerman (Associate). All have shown commitment, high intellect and resourcefulness under difficult circumstances (not only pandemic related). There is a great team ethos and they create the same environment with the counsel team.‘
Liquidators of Saad Investments Company Limited
Lohomij B.V. and Evert Louwman
- Acting for the liquidators of Saad Investments Company Limited (SICL), a Cayman Islands company and the investment vehicle of Maan Al-Sanea.
- Defending one of the holding companies in the Louwman Group in an English High Court claim brought by the Claimant, MRL, which is seeking approximately £70m in damages.
Watson Farley & Williams LLP's litigation practice is particularly strong for asset finance and trade finance disputes relating to the shipping, aviation and transport sector. The group counts derivatives, capital markets and bondholder litigation among its other areas of expertise. Commercial litigators Andrew Ward and Rebecca Williams jointly lead the dispute resolution group; Charles Buss specialises in the ship finance sector.
Andrew Ward; Rebecca Williams
Other key lawyers:
Charles Buss; Andrew Hutcheon
‘Very good cooperation with other WFW teams such as the transport, shipping and aviation team.‘
‘Working with Charles Buss couldn’t have been better. Working with Charles has not only been very constructive but also very successful in the end. He has brilliant analytical skills, a very quick comprehension of complex situations as well as an outstanding ability to formulate texts precisely and to the point. Charles is very much solution-focused, convincing, hard working and always available. Apart from his high legal skills and deep shipping knowledge Charles is very empathic and able to understand the underlying interests of all parties involved. ‘
- Defending Nordea as agent and co-lender in a major bank lending syndicate in claims brought by a junior lender, COSCO that claims that Nordea ought to have permitted Nordea’s borrower, Prosafe SE, the owner of an offshore oil accommodation platform, to repay COSCO ahead of Nordea under the terms of the subordination deed and claims damages for this alleged breach.
- Successfully represented YieldStreet Management LLC in a $76.7m Commercial Court claim which provided helpful clarification on a number of aspects of the law of undue influence. The dispute related to the recovery of funds due under various commercial loans to ship-owning corporate borrowers, advanced to finance the acquisition of end-of-life vessels for demolition, personally guaranteed by three members of a Dubai-based family.
- Acted for security agent Norddeutsche Landesbank Girozentrale in international litigation concerning security in respect of 14 bulk carrier cargo ships owned by private equity funds.
'Excellent boutique firm' Zaiwalla & Co's litigation team has particular expertise in banking disputes relating to developing and high growth economies such as India, Russia, Iran, Venezuela and the Middle East. It is developing a niche in banking disputes involving international sanctions and public international law issues. Sarosh Zaiwalla and Kartik Mittal jointly lead the three-partner team which includes Leigh Crestohl and senior solicitor Rohit Ralleigh.
Sarosh Zaiwalla; Kartik Mittal
Other key lawyers:
Leigh Crestohl; Rohit Ralleigh
‘Excellent boutique firm with a dynamic and proactive approach to litigation. Easily capable of holding their own against much larger firms.‘
‘Stand out partners are Sarosh Zaiwalla, Leigh Crestohl.‘
‘Kartik Mittal – partner. Highly intelligent, astute, very hard-working. Safe pair of hands. Leigh Crestohl – partner. balanced, dependable.‘
‘Sarosh Zaiwalla brings valuable experience to litigation; Leigh Crestohl has a strong intellect and good judgment; and Kartik Mittal works hard to achieve the right result for his clients.’
‘Zaiwalla & Co, being a boutique law firm, offers a service to its clients to solve their legal problems in an efficient and personal way, knowing that all partners, solicitor and paralegals are offering all their knowledge and time to the legal problem that the affected person is having.‘
‘The practice is marked by an in-depth assessment of legal issues and great attention to detail.’
‘Unique perspective on the law, ability to spot a weakness and execute strategies beneficial to their client.‘
Central Bank of Venezuela
Pesco Beam Environmental Solutions Pvt Ltd
- Representing the Central Bank of Venezuela (BCV) in a dispute with the Bank of England (BoE) relating to the BoE’s refusal to comply with the instructions of the BCV to facilitate the transfer of €930m of the value of Venezuela’s gold to the United Nations Development Programme to address the COVID-19 emergency in Venezuela.
- Acting for Central Bank of Venezuela (BCV) in a $120m dispute with Deutsche Bank (DB) arising out of the early termination of gold swap transactions due to the imposition of sanctions on the BCV, which triggered DB’s obligation to pay an early termination amount to the BCV.
- Successfully acted for eight of nine defendants in a $45m claim in the Chancery Division brought by Punjab National Bank in relation to claims of fraudulent misrepresentation, deceit and breach of various guarantees and loan agreements.