Firms in the Spotlight Banking litigation: investment and retail

Ronald Fletcher Baker LLP

Ronald Fletcher Baker has an established track record of success in even the most complex cases. Litigation and Dispute Resolution has been a focus of the firm since its inception in 1948, and our highly experienced team is widely recognised for its skill in this area. The firm deals with a broad range of commercial …

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Banking litigation: investment and retail in London

Allen & Overy LLP

Allen & Overy LLP ’s banking litigation team offers ‘excellent and proactive advice in extremely complex cross-border litigation matters’. The team has experience advising top tier financial institutions on a range of issues from major regulatory investigations to high profile disputes. Its ability to work with its transactional and non-contentious colleagues across the UK and internationally sets it apart.  Comprising more than 60 lawyers, the team is led by Arnondo Chakrabarti, who handles high-profile disputes and regulatory, criminal and internal investigations, and Calum Burnett, who takes the lead on contentious regulatory matters. The team benefits from Andrew Denny’s expertise in litigation pertaining to derivatives as well as his experience in benchmark manipulation disputes. ‘Standout partnerMahmood Lone is noted for his broad practice across regulatory investigations and litigation; his workload includes complex cases related to structured finance products, allegations of misselling, and follow-on litigation. It has recently seen the arrival of partners Michael Godden, who joined from Norton Rose Fulbright in 2022, and Andy McGregor, who joined from RPC the same year.

Practice head(s):

Arnondo Chakrabarti; Calum Burnett

Other key lawyers:

Michael Godden; Andy McGregor, Mahmood Lone; Andrew Denny; Oliver Rule

Testimonials

‘Strength in depth. Commercial awareness. technical legal ability.’

‘Andrew Denny – an excellent technical lawyer who rolls up his sleeves and gets into the important detail on all of his matters. Arnondo Chakrabarti – a top litigator with excellent instincts.’

‘Exceptionally high quality advice. Very responsive and experts in their filed.’

‘Mahmood Lone is head and shoulders above many of his peers in the market. He is very bright and capable – and very pleasant to deal with, too.

‘Complete understanding of the legal and economic issues and careful consideration of how they might play out in the litigation. This is borne out of intelligence and experience.’

‘Mahmood Lone – a standout litigator. Very clever and a real pleasure to work with.’

‘The A&O London Litigation Team always provides excellent and proactive advice in extremely complex cross-border litigation matters. In particular, they have great expertise and experience in dealing with litigation on derivative contracts and other financial products. In addition, they always provide efficient billing with great attention on respecting the budgets requested by clients.’

Key clients

Banco San Juan Internacional Inc

Cassini SAS

Grant Thornton (as administrators of Greensill Capital (UK) Limited)

Work highlights

  • Advising a major investment bank in successfully bringing a claim for declaratory and monetary relief in relation to interest rate swap transactions entered into by the bank with an Italian local authority under an ISDA Master Agreement. The relevant swaps are governed by English law and contain an exclusive jurisdiction clause in favour of the English courts.
  • Advising a major bank on significant litigation in England and Italy arising from a series of complex, high-value transactions with another bank. The matters involve high value civil litigation claims in both jurisdictions, as well as criminal, administrative and employment proceedings.

Clifford Chance LLP

Clifford Chance LLP’s banking litigation team is perceived as ‘truly top notch and a go-to for the most important, heavyweight disputes’. The ‘formidable’ Ian Moulding heads up the team and continues to receive mandates on some of the highest-profile cases in the market, including a number of disputes related to alleged LIBOR manipulation. The team benefits from the expertise Helen Carty, who specialises in banking disputes and regulatory investigations, and  Matthew Newick, who is the firm’s global head of litigation & dispute resolution, Lindsay Bickerton, who has experience acting for financial institution clients on complex and reputationally significant litigation matters, insolvency specialist Stephanie Huts and Kate Scott, who spent a year acting as Head of EMEA Litigation for a global bank, are also names to note. The highly experienced Roger Best additionally continues to be active in this space. The team differentiates itself through its ability to work on cross-border matters, considering the nuances of each individual jurisdiction. It also benefits from working closely with the firm’s corporate crime and financial regulatory teams, which broadens the lawyers’ understanding of the markets in which their financial institution clients operate. ‘Talented’ senior associate Michael Gorrie is another name to note.

Practice head(s):

Ian Moulding

Other key lawyers:

Michael Gorrie; Helen Carty; Matthew Newick; Lindsay Bickerton; Stephanie Huts; Kate Scott; Roger Best; Kelwin Nicholls; Guy Burkitt; Chris Yates;

Testimonials

‘CC’s banking litigation team is truly top notch and a “go to” for the most important, heavyweight disputes. They exhibit a real depth of market knowledge and legal insight whilst clearly understanding the client’s goals and drivers. They also make impressively efficient use of their associate resources; cases are not over-resourced but appropriate responsibility is delegated to associates, many of whom are very impressive.’

‘Ian Moulding is formidable and one of the doyens of banking litigation in London. He is not only deeply knowledgeable but has a truly impressive strategic vision; he is always thinking several steps ahead of his opponents, and is constantly turning problems around to see all the angles. 

‘Kelwin Nicholls is extremely level-headed and a reassuring presence for clients in the heaviest and most contentious disputes’.

‘Of the associates, Michael Gorrie is talented and (not to be underestimated) extremely good fun to have on the team, whilst delivering great work.’

‘Clifford Chance are one of the main ‘go-to’ firms for the largest disputes on behalf of the major financial institutions who comprise their client base. They have the resources, talents, experience, industry knowledge and skills to successfully run these cases and provide a Rolls Royce service to demanding and discerning blue-chip clients.’

‘Ian Moulding  – Supremely experienced, a wise head who has the trust of his major institutional clients and achieves good results for them.

‘Guy Burkitt  –  Excellent. Clever, hard-working, independent-minded and very strong client skills.’

‘ Helen Carty is a behemoth in this field. All the big investment banks want to work with her. There’s nothing worth knowing that she doesn’t know in banking litigation.’

Key clients

Bank of America

BNP Paribas

Citi

Credit Suisse

Deutsche Bank

HSBC

ICBC Standard Bank

Standard Chartered

Morgan Stanley

RBS

Herbert Smith Freehills LLP

Herbert Smith Freehills LLP’s banking litigation team is described by several clients as ‘the market-leading practice in the City‘. Recognised for its work defending banks in securities class actions and group claims, it regularly acts for leading financial institutions such as HSBC and BNP Paribas. It draws on the expertise of practice head Rupert Lewis, who is considered a ‘top lawyer in his field‘ and is currently instructed on a number of class actions. ‘Star banking litigator’ Damien Byrne Hill serves as global co-head of dispute resolution and has broad experience acting for prominent multinational banks in high-profile litigation. Elsewhere, ‘incredibly sharp and effectiveSimon Clarke is representing the Bank of England in a dispute relating to the gold deposits of the Central Bank of Venezuela, Chris Bushell is an ‘extremely impressive litigator’ who handles complex litigation relating to sovereign debt and derivatives transactions. John Corrie is another name to note and handles cross-jurisdictional banking disputes up to the High Court level; Emma Deas also has significant cross-border expertise, having previously worked in the firm’s Paris and Tokyo offices. The group also boasts a strong bench of associates, including Nic Patmore, who offers ‘superb organisation and communication’, and Ajay Malhotra, who has experience across the full spectrum of banking disputes.

Practice head(s):

Rupert Lewis

Other key lawyers:

Damien Byrne Hill; Simon Clarke; John Corrie; Emma Deas; Ajay Malhotra; Chris Bushell; Julian Copeman; Nic Patmore; Natasha Johnson; Julian Copeman;

Testimonials

‘They seem to genuinely enjoy the work they do, which makes the work so much more rewarding for everyone.’

‘Simon Clarke – a laid-back demeanour but incredibly sharp and effective’

‘Nic Patmore – superb organisation and communication.’

‘Very highly regarded in the field. Always knowledgeable and able to deal with the most complex of cases.’

‘Real experts in the market and sector’

‘The banking litigation team at Herbert Smith Freehills is the market-leading practice in the City. They have been instructed in all of the major banking disputes in recent years. They have excellent strength in depth at partner and associate levels.’

‘Damien Byrne Hill – a star banking litigator’

‘This is the go-to team in defending shareholder claims. In an area of under-developed law, where close attention has to be paid to how the law is developing in other jurisdictions, they have the breadth of understanding and close attention to detail required to achieve the best outcomes for the institutions they represent.’

Key clients

UBS

Bank of England

National Australia Bank

RSA Insurance Group

BNP Paribas

Société Générale

G4S

Standard Chartered

UK Finance

HSBC

Work highlights

  • Advising Standard Chartered Bank in connection with a substantial securities class action brought under s.90 and s.90A FSMA, a fast developing area of law.
  • Advising National Australia Bank in connection with eight claims brought by over 800 claimants in relation to fixed rate loans, with a complex group claim structure which may have a significant impact on other claims involving fixed rate loans.
  • Advising the Bank of England in connection with proceedings issued by the Maduro Board of the Central Bank of Venezuela which has requested the release of gold deposits exceeding USD 1 billion in value held by the Bank of England on behalf of the Central Bank of Venezuela.

Hogan Lovells International LLP

Hogan Lovells International LLP’s banking litigation team is led by ‘very effective litigatorLouise Lamb, and wins praise from clients as being ‘consistently clever, diligent, and a pleasure to work with’. The team handles cross-jurisdictional litigation, with experience representing UK and international banks in the Financial List, the High Court and the Supreme Court, as well as in arbitration. It has expertise in banking litigation originating from allegations of fraudulent behaviour, and also handles disputes relating to alleged benchmark manipulation, derivatives contracts, bond issuances and distressed asset restructurings. Alongside its work for investment banks, the group additionally acts for retail banks in consumer finance claims, with Lamb taking a lead in this area. ‘Very experienced litigator’ Philip Parish is noted for his work on insolvencies and restructurings alongside ‘super-bright’ John Tillman, with ‘diligent and cleverWhiston Bristow taking the lead on benchmark manipulation cases. Jennifer Dickey is dual-qualified in Hong Kong, while Hannah Piper was promoted to partner in January 2022.

Practice head(s):

Louise Lamb

Other key lawyers:

Philip Parish; Whiston Bristow; John Tillman; Jennifer Dickey; Hannah Piper; Elaine Penrose

Testimonials

‘One thing that really stands out about Hogan Lovells’ banking litigation team is the depth and consistency of talented lawyers: from partner down to trainee, the team is consistently clever, diligent, and a pleasure to work with. It means no matter the team composition for a particular case, they are always very good indeed.’

‘Whiston Bristow is probably the most hands-on, thorough banking partner I work with. He really engages with the legal issues and he’s very astute on the client’s pressure points. Philip Parish is a very experienced litigator with excellent judgement.  Louise Lamb is a joy to work with, and a very good team leader who supports and encourages her associates.

‘Hogan Lovells provide exceptionally good associates and partners with a level-headed relaxed atmosphere. They have very good strength in depth and fantastic banking experience’

‘Strength of partners and breadth of high quality individuals.’

‘John Tillman: a good technical lawyer. Excellent at working his way through difficult and complex issues in a way that produces results.’

‘Stand-out partners are Philip Parish and Elaine Penrose. Both excellent at running efficient teams and maintaining focus and morale in long-running litigation.’

Key clients

Lehman Brothers Holdings Plc

YES BANK Limited

Work highlights

  • Representing the joint administrators of Lehman Brothers Holdings Plc in two heavily contested, multi-party High Court applications, concerning the manner in which substantial sums fall to be distributed by two insolvent Lehman UK estates.
  • Representing YES BANK against a claim by financial services firm Cantor Fitzgerald for a financing fee allegedly owed by the bank.

Linklaters LLP

Linklaters LLP’s market-leading banking litigation team is known for its expertise representing clients in high value and high profile domestic and cross-border banking disputes, often involving  regulator scrutiny and financial or reputational impact. The team , which is led by contentious regulatory specialist Alison Wilson and Christa Band, benefits from working with lawyers in other parts of the firm, including its financial regulatory, banking, derivatives and structured products, and capital markets practices. Other key names in the practice include Patrick Robinson, whose broad practice  frequently sees him advising clients on structured product-related disputes, Rory Conway, whose expertise includes insolvency-related issues, and Susana Cao Miranda, who previously worked in-house at Goldman Sachs. The team acts for well known financial institutions including  Societe Generale. Sarina Williams was promoted to partner in May 2021.

Practice head(s):

Alison Wilson; Christa Band

Other key lawyers:

Patrick Robinson; Susana Cao Miranda; Sarina Williams; Andrew Hughes; Rory Conway

Key clients

The joint administrators of Lehman Brothers International (Europe) (in administration)

Société Générale

NatWest Markets Plc (“NWM”)

OCM (Gibraltar) Chemical Tankers Limited (“OCM”)

Equiti Capital UK Limited

Work highlights

  • Advising Equiti Capital UK Limited (EUK) in connection with a Commercial Court claim issued by Dismatrix SPC, Asyndeton and Polysyndeton under claim number CL-2020-000712.
  • Advising Société Générale in relation to an action brought by a large number of claimants on 11 November 2020.
  • Advising the administrators of Lehman Brothers International (Europe) (LBIE) in connection with a contested application before the High Court concerning the ability of LBIE to cure any continuing Events of Default under the ISDA Master Agreement.

Slaughter and May

Slaughter and May‘s banking litigation team offers ‘strength in depth at all levels’. The overall disputes and investigations group is led by Richard Swallow, while key figures in litigation include Ewan Brown, who has experience advising in relation to corporate crime, competition claims and tax appeals, and Camilla Sanger, whose practice covers commercial, banking and competition litigation. Both are described by one client as ‘perfect performers as partners’. ‘Hugely experienced‘ Deborah Finkler, and Jonathan Clark, who specialises in defending against allegations of deliberate wrongdoing, are also key part of the banking litigation team, which works across the financial services sector for high profile clients including JPMorgan Chase, Deutsche Bank and Credit Suisse. The practice has been in growth mode,  with Gayathri Kamalanathan joining as a partner in April 2021 from Danske Bank in Copenhagen, where she was head of group litigation and enforcement.   Peter Wickham  was made up to partner the same year.

Practice head(s):

Richard Swallow

Other key lawyers:

Deborah Finkler; Camilla Sanger; Richard Jeens; Ewan Brown; Jonathan Clark; Camilla Sanger; Peter Wickham; Gayathri Kamalanathan;

Testimonials

‘The banking litigation team at Slaughter and May has strength in depth at all levels. They are able to draw on wider firm expertise in commercial litigation, regulatory/public law and financial regulation. The individual lawyers work phenomenally hard and are able to deliver high-quality work product at  short notice. The team routinely deals with the most complex and high value litigation.’

‘Richard Jeens is tremendously clever and has exceptionally good judgement. He understands the banking industry and has an extremely commercial approach focused on the practical objectives of the client. Richard is a clear and confident communicator and gets the best out of his team, by delegating effectively whilst exercising supervisory control.’

‘Deborah Finkler is hugely experienced and provides great strategic insight for the conduct of banking litigation.’

‘Holistic, qualified and value adding advice. Always available, customer-oriented and trustworthy.’

‘Gayathri Kamalanathan has an incisive mind, broad and relevant knowledge of the complexities of financial institutions and delivers prompt, succinct and actionable advice with a self-deprecating and understated manner. In the middle of a crisis or when we as a client are making some of our most difficult decisions, Gayathri is the person you want in the room.’

‘The team has incredible strength in depth across the full skillset – sector expertise, litigation skills and strategy and case and client management.’

‘Ewan Brown and Camilla Sanger are both perfect performers as partners, fully across the case and managing dealings with the client.’

Key clients

JPMorgan Chase Bank N.A.

Credit Suisse AG, Credit Suisse International and Credit Suisse Securities (Europe) Limited

Deutsche Bank, A.G.

Mercuria Energy Trading Europe Limited

Credit Suisse Group

SIPAC and Predica/Potential Claim by Emerald and Trinity

Work highlights

  • Advising JP Morgan Chase Bank in relation to both the High Court litigation and the competing applications for Collective Proceedings Orders brought in the Competition Appeal Tribunal arising out of the global forex investigations.
  • Advising Deutsche Bank against claims brought in the Commercial Court against various financial institutions by the US Federal Deposit Insurance Corporation.
  • Advising Credit Suisse in multiple claims arising from US$2bn financing of state tuna fishery and maritime security projects in the Republic of Mozambique.

Addleshaw Goddard

Addleshaw Goddard has a varied banking litigation practice, acting for and against banks in a wide range of disputes. The group’s workload encompasses representing clients on both sides of enforcement proceedings, as well as handling claims pertaining to alleged misselling, conspiracy and fraud. Cryptocurrency and the payments sector are two notable areas of focus for the practice, which is led by Richard Clayton. Clayton is highly praised by clients, who regard him as a ‘great tactician’ who possesses ‘excellent judgement’; his cases often include cross-jurisdictional elements. ‘Experienced litigator’ James Herring is another core partner and takes the lead on payment cases, while Sivan Daniels was promoted to the partnership in April 2022 and is an ‘outstanding lawyer’ with experience handling high-value claims. Legal director Alex Unger is another name to note and is highlighted for earning ‘the absolute trust of his clients’. Michael Barnett  departed the firm in 2021.

Practice head(s):

Richard Clayton

Other key lawyers:

James Herring; Sivan Daniels; Alex Unger; David Wigg

Testimonials

‘Deep understanding and knowledge of the banking industry, coupled with a rigorous, efficient and pragmatic approach to any problem. The team invariably generates a positive outcome for clients.’

‘The team is resourceful, approachable and applies a well honed analytical approach to any dispute. Richard Clayton has a wealth of experience in the sector which, combined with his ability to find solutions to difficult problems, makes him a formidable lawyer. Sivan Daniels is a rising star: he combines intellectual brilliance with a keen awareness of his client’s aims and interests.’

‘James Herring – an experienced litigator who gets to grips with the detail of a case. 

‘There is a real sense of partnership between counsel and the client. The team deploys its unrivalled market experience and commitment to achieve results for its clients.’

‘Richard Clayton provides superb leadership. He is a great tactician and a pragmatic problem solver, who achieves results time after time.  Sivan Daniels is an extremely able lawyer who leaves no stone unturned. Legal director Alex Unger  is a great partner in the making. He has the absolute trust of his clients, and rightly so: his advice, case-handling, and drafting is never less than first class.’

‘The firm has a real team ethos: the large case I am working with them on has required heavy resourcing, but everyone who has been brought onto the case has quickly got up to speed and fitted in seamlessly. They also don’t have large egos, and therefore work very effectively with other firms and are very collaborative.’

‘Sivan Daniels –  I have regarded him as a rising star for some time and I’m delighted he made partner this year. He is an outstanding lawyer, one of the hardest working, and extremely nice to boot. James Herring – another who exemplifies their team approach, and who is very thorough with excellent client handling skills. David Wigg: my new rising star for AG, as he’s very clever and responsive.’

‘Richard Clayton is a very experienced and savvy banking litigation partner, with connections to the major banks and industry bodies. He has excellent judgement, especially about when to be aggressive and when to settle. Alex Unger is well-regarded and experienced’

Key clients

Mr Nejc Kodrič and White Whale Capital SPF, SA.

Unitel S.A.

CDC Group Plc and Michael Turner

The Royal Bank of Scotland Plc

National Westminster Bank Plc

Santander UK plc

Lloyds Banking Group

Mr Nejc Kodrič and White Whale Capital SPF, SA.

Unitel S.A.

CDC Group Plc and Michael Turner

The Royal Bank of Scotland Plc

National Westminster Bank Plc

Santander UK plc

Lloyds Banking Group

Work highlights

  • Acting for Mr Nejc Kodrič (the co-founder of the cryptocurrency exchange, Bitstamp) and his wholly owned company, White Whale Capital SPF SA in a high profile shareholder dispute in the crypto space against a South Korean private equity holding company (Bitstamp Holdings owned by NXMH).
  • Acting for Unitel S.A. 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.
  • Acting for CDC Group Plc, the UK’s development finance institution and Michael Turner defending a $200m Commercial Court claim brought by Crane Bank Limited (a Ugandan bank) and a number of its former shareholders for unlawful means conspiracy, dishonest assistance and knowing receipt alleged to arise from the acquisition of Crane Bank’s assets by DFCU Bank Limited (DFCU).

Ashurst

‘Vastly experienced in resolving disputes for a wide range of financial clients’, Ashurst acts for retail and wholesale banks, asset managers and other financial services providers in banking litigation. The team’s varied workload encompasses representing lenders in enforcement proceedings, defending financial institutions against breach of contract claims, and acting in partnership disputes involving financial services companies. Group head Lynn Dunne is ‘a real fighter for her clients’ and also serves as co-managing partner of Ashurst’s London office, while Tom Connor is head of the EMEA dispute resolution practice and is highly active in banking claims. James Levy draws on his experience in professional negligence to act on cases involving claims of negligence and breaches of fiduciary duty. Nathan Willmott joined the firm in January 2022 from Bryan Cave Leighton Paisner LLP.

Practice head(s):

Lynn Dunne

Other key lawyers:

Tom Connor; James Levy; Nathan Willmott

Testimonials

‘The Ashurst banking team has great strength and depth across the sector. The team is vastly experienced in resolving disputes for a wide range of financial clients.’

‘Lynn Dunne is a star partner. She is a natural leader who gets great results for her clients.’

‘Very good understanding of the PE and fund management industries.’

‘Lynn Dunne is a stand out individual. She is a very experienced and savvy litigator. A real fighter for her clients.’

‘Tom Connor and Lynn Dunne are formidable leaders of this market-leading team, with an exceptional range of client relationships with many of the leading banks and financial institutions, cultivated over many years in both the litigation and regulatory/investigations spaces. They lead a team of real skill and innovation, that combines technical excellence with personality, character and total dedication to the cause.’

‘Tom Connor – a brilliant technical lawyer and tactician, combining subtlety with a steely determination to achieve the best outcome . Lynn Dunne – a titan in the banking litigation and contentious insolvency world, with great experience in a wide range of sectors and spheres for an impressive list of prestigious and important clients. In a difficult, urgent, high profile case, there is no-one better in the City. The safest pair of hands that money can hire.’

‘Small but perfectly formed team of strong players’

‘Lynn Dunne is a strong and savvy tactician in the field of banking and insolvency litigation.’

Key clients

Bank of England

British Business Bank plc

Close Brothers Asset Management

Commerzbank

Crypton Digital Assets Limited

Daiwa Capital Markets Europe Limited

NatWest Markets Plc

Specialist Lending Ltd t/a Duologi

The FCA

Work highlights

  • Advising British Business Bank plc on the implementation of HM Treasury’s Future Fund scheme set up to support start-ups and innovative firms across the UK to get through the coronavirus pandemic by stimulating investment.
  • Acting for Close Brothers Asset Management in defence of claims relating to the actual and potential tax liabilities of three investors in Ingenious film schemes who were clients of Close entities.
  • Acted for the Financial Conduct Authority on its successful Court opposition to the scheme of arrangement proposed by Amigo Loans.

Latham & Watkins

Latham & Watkins acts for prominent financial institutions in cross-jurisdictional disputes. The team has carved out a significant niche in defending investment and retail banks against shareholder class actions and group claims, including in litigation following on from regulatory proceedings. The group is jointly led by ‘brilliant tactician’ Jon Holland and the ‘outstanding’ Andrea Monks. The pair have deep experience in banking litigation, with Martin Davies and Oliver Middleton also recognised for their work in class actions. Among the associates in the group, Nell Perks and Alex Cox stand out, with Cox praised as ‘extremely hard-working’.

Practice head(s):

Jon Holland; Andrea Monks

Other key lawyers:

Martin Davies; Oliver Middleton; Nell Perks; Alex Cox; Aisling Billington

Testimonials

‘Amazing strength in depth. The partners and associates work well together. They are pleasant and fun to work with and the quality of their work is absolutely excellent. Also extremely diligent and hard working.’

‘Andrea Monks is a brilliant banking litigator. She is all over the detail, and has fantastic judgement as well as being lovely to work with. Martin Davies also has fantastic experience and excellent judgement. Alex Cox is brilliant at his job and is already doing partner level work.’

‘Led by Jon Holland, a legend in this field, this is a first-rate banking litigation team, with strength and depth. They are at the cutting edge of flexible working and billing practice, and have extensive experience of using technology to handle documents and trial processes.’

‘Jon Holland is a brilliant tactician, with immense experience of banking disputes. He leads his team with panache and style – and makes litigation an almost pleasurable experience, which is a rare talent. Alex Cox and Aisling Billington are highly capable.’

‘Since their recruitment of Jon Holland and Andrea Monks, the banking litigation team has gone from strength to strength. They operate quite lean teams, but with excellent associates and strong partner engagement.’

‘Jon Holland is very experienced and the safest pair of hands; he’s got excellent judgement and offers astute strategic input, and leads his teams with a good sense of humour.’

‘The team are strong and proactive, delivering clear, strategic advice in a difficult circumstances. I wouldn’t use another firm for this kind of service.’

‘Andrea Monks is outstanding. She develops a strong, trusted relationship with the Board and delivers excellent tactical advice. Andrea is always on hand and has guided us through some stressful, complicated processes incredibly smoothly helping deliver desired outcomes.’

Key clients

ABN AMRO Bank NV

Samba Financial Group (now Saudi National Bank)

Chicago Mercantile Exchange

Work highlights

  • Representing Chicago Mercantile Exchange (CME) in Commercial Court proceedings by TP ICAP plc alleging breaches of warranties following the sale of ICAP’s voice broking business to Tullett Prebon in 2018.
  • Representing Saudi National Bank (SNB, formerly 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 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.

Mayer Brown International LLP

Mayer Brown International LLP‘s ‘exceedingly client-focused’ team has a broad, cross-jurisdictional practice, with experience handling disputes involving structured finance, FX, LIBOR cessation and cyber-crime. The team’s client base includes a number of prominent multinational banks, acting for both claimants and defendants. Group head Ian McDonald is praised as ‘charming, careful, reassuring and experienced’; other key figures in the team include Alistair Graham  , who has ‘masses of experience’ in this space, and Chris Chapman, who possesses a ‘keen eye for the client’s best interests’.

Practice head(s):

Ian McDonald

Other key lawyers:

Alistair Graham; Chris Chapman; Ruth Malone; Mark Stefanini; Stephen Moi

Testimonials

‘Exceedingly client focused and (unlike many City firms) has  a keen eye on costs. Very experienced at dealing with complex cross-border disputes.’

‘Ian McDonald – charming, careful, reassuring and experienced. Chris Chapman – recent partner keen to prove himself, pugnacious and with a keen eye for the client’s best interests.’

‘Stephen Moi – excellent new partner, very hard working and commercially minded’

‘Superbly resourced with leading knowledge and experience in the sector. They get the biggest and best cases and know how to deliver the results.’

‘Alistair Graham – one of the best partners there is. Masses of experience and never takes his eye off the ultimate question of what is in the best interests of the client.’

Key clients

Société Générale

UBS

HSBC

Wells Fargo

BNY Mellon

Principal Global Investors LLC

Temporis Capital

eOne

Royal Bank of Canada

Work highlights

  • Acted for Société Générale on 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.
  • Acted for listed client eOne, the leading Canada-based global mass media and entertainment company, now part of the Hasbro toy conglomerate. Originally instructed to support an internal investigation into allegations of fraud arising out of currency trading, then instructed to act on the subsequent multi-million pound fraud claim in the High Court, which included allegations of bribery, dishonesty, deceit, conspiracy and corruption.

Pallas Partners LLP

Boutique disputes firm Pallas Partners LLP was established in February 2022 by a large team of partners and associates from Boies Schiller Flexner (UK) LLP, including firm founder Natasha Harrison. The new firm handles complex, cross-border litigation, representing investment banks, groups of investors, asset managers and hedge funds. Harrison is one of the most highly-regarded banking litigators in the London market and is a ‘leading light for hedge fund and other high value litigation’. Fiona Huntriss is ‘super smart, meticulous and tenacious’ with deep expertise in disputes pertaining to restructurings, insolvencies and distressed assets. In addition to their expertise in handling litigation, the firm’s partners also have significant in-house experience; Tracey Dovaston previously worked as head of litigation, investigations and enforcement at Barclays in the UK, while Neil Pigott held a senior position in the special situations group at Morgan Stanley.

Practice head(s):

Natasha Harrison

Other key lawyers:

Fiona Huntriss; Tracey Dovaston; Neil Pigott

Testimonials

‘Natasha Harrison – leading light for hedge fund and other high value litigation. Fiona Huntriss – excellent litigator and superb client liaison.’

‘The people I worked with were fantastic. Clever, diligent and engaging.’

‘Stand out partners – Natasha Harrison and Fiona Huntriss. Latter is particularly wonderful – super smart, meticulous and tenacious.’ 

‘Innovative solutions to difficult legal problems.’

‘I am so excited about Pallas Partners and have no doubt they will become one of, if not, the, leading litigation firm in London. The calibre of clients, work and lawyers speaks for itself.’

‘I have worked with Natasha and Fiona for over 10 years and think they have a fabulous mix of legal and commercial instinct – they are aggressive strategists who provide excellent client service. They are consistently calm, confident and ensure clients feel as though they are in very safe hands.’ 

Key clients

Farallon Capital Management

VR Capital

Pension Insurance Corporation

Davidson Kempner Capital Management

Madison Pacific

Warwick Capital

Invesco

Parsdome Holdings

Quinn Emanuel Urquhart & Sullivan, LLP

Quinn Emanuel Urquhart & Sullivan, LLP is well-known for its work acting opposite banks, representing corporate entities, hedge funds, sovereign states and administrators in a broad range of disputes. The team acts for clients both as claimants and defendants in these matters; it particularly stands out for its work on matters with transatlantic elements, where it leverages its connections to the United States. Practice head Richard East was a founding partner of the firm’s London office and has played a key role in the development of its practice. Nick Marsh takes the lead on civil fraud claims and has considerable experience across cross-border arbitration and litigation, while solicitor advocate Matthew Bunting handles disputes surrounding loan facilities and retail banking products. Elsewhere, Yasseen Gailani has a broad practice encompassing litigation related to margin loans, derivatives and distressed debt, while Leo Kitchen was made up to partner in January 2022 and handles misselling claims and follow-on litigation. The team’s bench was further strengthened in April 2021 when Paul Baker joined from Simmons & Simmons, where he was head of dispute resolution.

Practice head(s):

Richard East

Other key lawyers:

Nick Marsh; Matthew Bunting; Yasseen Gailani; Leo Kitchen; Paul Baker

Testimonials

‘Really strong performers, very knowledgable and willing to fight hard for their client. Excellent.’

‘Nick Marsh and Leo Kitchen. Really clever, hard working and tactically excellent. Also really good to work with.’

Key clients

Ukraine (represented by the Minister of Finance of Ukraine acting upon the instructions of the Cabinet of Ministers of Ukraine)

Pacific Investment Management Company LLC, Anchorage Capital, L.L.C., Algebris (UK) Limited

Federal Insurance Deposit Corporation (“FDIC”)

Galapagos Bidco SARL

Otkritie Bank v Mints

The Joint Administrators of JD Classics

Fiesta Resorts and Hotels SL

CELF Advisors LLP (CELF)

Ad-Hoc Group of Bondholders

SoftBank Vision Funds

The Joint Administrators of NMC Healthcare LTD (in administration) (subject to deed of company arrangement)

SVP Global and Attestor

AXA France IARD S.A., AXA France VIE S.A. (together “AXA”)

Work highlights

  • Acting for the Joint Administrators of the NMC Group in assessing the nearly USD 7 billion in debts of the NMC Group and commencing a number of claims to challenge purported debt and security claims.
  • Representing a group of financial institutions in a dispute against Banco Santander’s wholly owned subsidiary, Uro Property Holdings, SA (Uro). The dispute arises out of the recent acquisition of Uro by Banco Santander, Uro’s resulting loss of SOCIMI tax status under Spanish law, and the impact of this acquisition on the redemption of bonds issued by Silverback Finance DAC.
  • Advising AXA France IARD S.A. and AXA France VIE S.A. (together, “AXA France”) on its claim against Santander Cards UK Limited and Santander Insurance Services UK Limited (together “Santander”) for losses arising from PPI mis-sold before 14 January 2005.

RPC

RPC has a broad, international client base which includes sovereign states, asset managers and corporate entities. The group regularly acts for these clients in claims against prominent investment banks, with one client describing the team as having 'the acumen and resilience needed to take on the mighty institutional behemoths in the biggest cases and deliver wins'. It also represents international banking clients in both defending  and bringing claims. Simon Hart heads  the banking and financial disputes practice, with experience across litigation involving leveraged finance, loan facilities and derivatives. Tom Hibbert is global head of commercial disputes and is engaged on high-profile complex disputes. Other key figures in the team include Jonathan Cary, who has experience in both litigation and regulatory investigations. Andy McGregor departed the firm for Allen & Overy LLP .

Practice head(s):

Simon Hart

Other key lawyers:

Tom Hibbert; Jonathan Cary; Jake Hardy; Alan Williams; Christopher Wheatley; Emily Fischer; Emma West; Chris Ross; Charlotte Henschen

Testimonials

‘Simon Hart is sensitive to client needs, and will always make himself available. He is also well-used to the rigours of litigation.’

‘Tom Hibbert is an exceptional individual. One of London’s top litigators, he is hugely experienced and exceptionally clever. Jake Hardy is the long-time right-hand man for Tom Hibbert. He keeps large teams running brilliantly and is calm and unflappable. Christopher Wheatley has excellent drafting skills, and  Emma West has a formidable memory and is unflappable.’

‘This is a strong team that is very effective in big litigation including at trial, where they are very agile under tight time pressure. They have a great deal of expertise in the banking space and are able to put that to good use. They staff the right people to the right parts of a case and make sure all bases are very well covered. Partners were closely involved and very well across the fine detail.’

‘Tom Hibbert has a great depth of experience, impeccable judgement and litigation instincts, and made himself very available at crunch times. Jonathan Cary and Alan Williams were right across the detail, knowing the case inside out and back to front, and showed great judgement throughout.  Emily Fischer was particularly notable for her meticulousness, attention to detail and prodigious capacity for hard work’’

‘Probably the best investor/borrower banking firm in London – all the acumen and resilience needed to take on the mighty institutional behemoths in the biggest cases and deliver wins.’

‘The team at RPC are immensely impressive. The senior partners are all seasoned litigators, with excellent experience honed through years of practice. They invariably make the right judgement calls – and it is a pleasure to work alongside such a capable team. The associates are, without exception, thorough and very hands on – with excellent drafting skills for correspondence, and witness statements.’

‘A very good team offering a first rate service. There was a simply fabulous effort on the matter we worked on by both associates and partners who worked fantastically hard with a difficult client and very high pressured case to get the desired result. 100% commitment.’

Key clients

Loreley Financing (Jersey) No 30 Limited

Siam Commercial Bank Public Company Limited

VIP clients of Promsvyazbank

Federal Government of Nigeria

Bank St Petersburg (BSP)

Work highlights

  • Representing the Federal Government of Nigeria in its claim against JP Morgan (JPM), arising out of the bank’s role in transferring $875 million to a company, Malabu Oil & Gas Limited, which was the vehicle for a disgraced former Nigerian Minister of Petroleum, Chief Etete, pursuant to a fraudulent and corrupt scheme relating to the acquisition of an oil prospecting licence (OPL 245) by the oil majors Shell and Eni for the sum of $1.3 billion.
  • Representing Siam Commercial Bank in Commercial Court proceedings brought by a Thai businessman (currently living in political exile in France) and his associated companies against Siam and 16 other defendants. The claim arises from the sale of the claimants’ majority interest in a Thai group of companies specialising in largescale wind energy projects. The bank provided project finance to the operating companies.
  • Representing a luxury hotel and resort group in a claim relating to c.£117 million losses suffered as a result of the Bank of Scotland’s conduct in the pursuit of its deleveraging strategy, following the financial crisis.

Stewarts Law LLP

Stewarts Law LLP has a broad practice acting for both claimants and defendants across litigation related to loan facilities, bonds, private equity transactions, investments and distressed assets. The team’s clients include government bodies, investment funds, liquidators and state bodies, and it also represents large numbers of investors in group claims. Clive Zietman leads the practice; ‘immensely experienced and widely respected’, he has over 30 years experience handling disputes in this sector. Sean Upson and Fiona Gillett are adept at handling claims against banks, including litigation involving complex financial products, while Marc Jones is developing a reputation for handling matters related to cryptocurrency and fintech. Other names to note include Laura Jenkins and Elaina Bailes, who joined forces in 2021 to act for the liquidators of Stanford Bank in high-profile Court of Appeal proceedings, and the ‘experienced and sensible’ Keith Thomas who handles securities litigation alongside Lucy Ward.

Practice head(s):

Clive Zietman

Other key lawyers:

Sean Upson; Marc Jones; Fiona Gillett; Elaina Bailes; Lucy Ward; Alex Jay Darren Kidd; Alex Lerner; Laura Jenkins; Ian Gatt KC; Keith Thomas; Joe Mitchell; Tim Symes

Testimonials

‘In my view Stewarts are the number one litigation firm for claims against banks and other financial institutions. They are very knowledgeable, highly motivated to do well for their clients, commercially minded, strategic and not intimidated by large corporations or their well heeled and often aggressive legal teams’

‘Clive Zietman: the doyen in this field; immensely experienced and widely respected. Marc Jones: tough, analytical, leaves no stone unturned. Fiona Gillett: hard working with an eye for detail’

‘Harry Spendlove is a standout lawyer. He has partner written all over him and really gets to grips with a case.’

‘Ian Gatt KC leads an excellent team, bringing his experience at the Commercial Bar to bear on the wider sphere of litigation with which he is now involved. He is knowledgegble, highly intelligent, tactical and personable. Stewarts’ recruitment programme has assembled a fabulous team of effective lawyers who are also excellent (and fun) to work with.’

‘Ian Gatt KC must be regarded as one of the genuine stars of this sector. Fiona Gillett is simply brilliant and a pleasure to work with.’

‘Stewarts have an experienced team. They can handle large and complex matters. They are pragmatic and sensible and easy to work with.’

‘Keith Thomas is experienced and sensible. Laura Jenkins is very easy to work with. Bright, personable, well-prepared.’

Key clients

Kestrel Coal Midco Pty Ltd

Lodha Developers (UK Limited) v (1) Sun Global Investments Ltd (2) Green Lake Multi Strategy Fund Limited and (3) Global Capital Fund Limited

Grant Thornton BVI – as liquidators of Stanford International Bank Ltd

Susquehanna International Group, LLP (“SIG”)

SKAT (Danish tax authority)

Timeshare

Dr Frank Kebekus and Galapagos S.A

The Eclipse Group Action

Ingenious Litigation

Work highlights

  • Acting for the liquidators of Stanford International Bank Ltd (in liquidation) (“SIB”) in disputes related to the bank’s ponzi scheme.
  • Instructed by the defendant borrower in litigation against Kestrel Coal Midco Pty Ltd related to a loan deal for the purchase of a $2bn coal mine.
  • Acting on a $230 million dispute for Susquehanna International Group, LLP and SIG Growth Equity Fund II, LLLP concerning SGE’s investment in ETFS Capital Limited, a Jersey based provider of exchange traded fund products.

White & Case LLP

Noted for the global nature of its practice, White & Case LLP acts for investment banks, central banks, sovereign states and individual traders in both court proceedings and arbitration. The group has significant expertise in fraud claims and is also engaged to handle litigation related to loan facilities, distressed debt and market manipulation. Mark Clarke leads the overall commercial disputes team, while Charles Balmain serves as head of banking litigation. Swati Tripathi offers expertise in handling High Court proceedings, while Stephanie Stocker , who was made up to partner in January 2022, has a focus on financial disputes in the CIS region. The team has recently experienced some turnover, with John Reynolds, Chris Brennan and Amanda Cowell departing the firm and the well-regarded  Lawson Caisley joining from Allen & Overy LLP.

Practice head(s):

Mark Clarke; Charles Balmain

Other key lawyers:

Swati Tripathi; Stephanie Stocker; Lawson Caisley; Adam Wallin

Testimonials

‘White & Case have a strong market presence with a number of standout individuals in the banking litigation field.’

‘Swati Tripathi is a force to be reckoned with – bright, client-aware and strong on the law, she is everything a client hopes for in a lawyer.’

‘Easily one of the top litigation practices in London.’

‘Charles Balmain is a superb banking litigator. He is a brilliant strategist, a brilliant lawyer and immensely calm under pressure. he has exceptional client skills, including in the challenging Chinese and Indian markets. A huge asset for the firm. Swati Tripathi is a fantastic new partner, with unparalleled sector knowledge, especially in the Indian market: a rising star.’

Key clients

Syndicate of Chinese banks

Republic of Mozambique

Work highlights

  • Continuing to act for a syndicate of Chinese banks in respect of litigation proceedings and the restructuring of a US$925 million facility advanced to Reliance Communications Limited (RCom). RCom was formerly India’s second largest telecoms operator, and is now undergoing insolvency proceedings in India. RCom is part of the Reliance group owned and promoted by Anil Ambani, who was previously one of the richest people in Asia.
  • Continuing to act for the Republic of Mozambique in a US$2 billion multi-forum dispute with Abu Dhabi-based shipbuilder Privinvest, which the state accuses of paying bribes to secure infrastructure projects financed by loans from Credit Suisse.

Baker McKenzie

Baker McKenzie stands out for the global nature of its practice, with experience representing banks around the world in disputes pertaining to loan facilities, bonds, insolvencies and alleged frauds. The team offers ‘great depth and experience in investment and corporate banking litigation’, and is also engaged by prominent clients to act in defence of fraud claims. The group is co-led by Hugh Lyons and Jonathan Peddie; Lyons has very broad experience in this space while Peddie previously served as head of financial crime at Barclays. ‘Fantastic litigator’ Marc Florent is another key partner with a focus on structured finance and derivatives.

Practice head(s):

Hugh Lyons; Jonathan Peddie

Other key lawyers:

Marc Florent; Marc Thorley; Edward Poulton

Testimonials

‘The team have been very open to bringing in experts whenever required but have ensured continuity and balance throughout. I have found their humanness during the process has stood out. They have also managed the highs and lows of the process in a calm, balanced way which I have greatly appreciated.’

‘Great depth and experience in investment and corporate banking litigation, in particular, of complex structures. A real understanding of all parties perspectives, which is useful for advising and acting for any one party in a dispute.’

‘Marc Florent is a fantastic litigator. He’s someone you want managing banking litigation.’

‘Hugh Lyons is one of the best and easiest litigation solicitors to work with. He is unflappable, and very effective in client management and negotiation.’

‘The addition of Marc Thorley to the team is a major coup. He has invaluable coal-face experience that clients appreciate.’

‘Apparently effortless efficiency in the conduct of litigation. Good resources. Swift response to requests. Good, balanced, judgement.’

‘Marc Thorley has over 20 years experience litigating some of the highest profile cases in the UK and in Hong Kong. Banks trust him with their most important disputes. His industry experience puts him one step ahead of the opposition.’

‘Jonathan Peddie is responsive, honest, calm and balanced.’

Key clients

JP Morgan International Bank Limited / JP Morgan Bank Luxembourg SA

Dubai Islamic Bank PJSC

Axis

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

Work highlights

  • Representing Dubai Islamic Bank PJSC in multi-jurisdictional proceedings arising from a large-scale receivables fraud in the early 2000s and a settlement of claims in 2007.  
  • Acting for BNPP in connection with a complex bond claim against Uro, a Spanish property holding company (which owns essentially all of the Spanish premises used by Santander for its branch network).
  • Acting on behalf of the Thai Official Receivers of the insolvent Bangkok Bank of Commerce, in a High Court claim seeking to recover monies owed to the Bank as a result of the misconduct of a number of its senior executives.

Cleary Gottlieb Steen & Hamilton

Cleary Gottlieb Steen & Hamilton’s banking litigation team stands out for its ability to handle complex cross-border disputes across multiple jurisdictions including Europe, the US and Asia. The team has expertise in various areas of banking litigation including swap transaction disputes, benchmark investigations and freezing injunctions. It counts on the expertise of ‘exceptionalJonathan Kelly, ‘extremely bright and capable litigatorJames Brady, and ‘brilliant lawyerSunil Gadhia.

Other key lawyers:

Jonathan Kelly; James Brady; Sunil Gadhia; James Norris-Jones

Testimonials

‘Cleary’s banking litigation team is brilliant – the partners are very bright and knowledgeable, with genuine control over both tactics and details, and the associates are also fully on top of matters and very engaged. Cleary are extremely efficient – you can absolutely rely on them to get the job done, and to get it done well.’

‘Sunil Gadhia – a brilliant lawyer, with a superb eye for what matters and how to handle complex tactical issues. Always spots the important points and finds the right answer.

‘James Brady is an extremely bright and capable litigator, with absolute mastery of the details of a case, and an inventive mind which will leave no stone unturned in finding the best way forward in any given situation.’

‘Cleary is not just an outpost of a US firm, but a very effective litigation team, involved – often quietly – in some of the largest, and most difficult, commercial litigation in London. Their banking experience in particular is impressive, and they know when to lead, how to use counsel, and command respect amongst their peers.’

‘Jonathan Kelly and James Norris-Jones are heavyweight partners, covering a wide range of disputes. James in particular is on top of the detail, well able to direct his associates and able to utilise external counsel effectively. A pleasure to be instructed by him, and he has quickly become the central figure in the teams I have witnessed (on both sides).’

Key clients

HSBC

Natixis

IZIT Management Ltd

GHF Fund (formerly Abraaj Growth Markets Health Fund)

Goldman Sachs

Work highlights

  • Advised a number of HSBC entities in litigation brought by The ECU Group plc, relating to FX trading in the 2004-06 period.
  • Represented Natixis in disputes with a state owned oil company concerning a commodities financing issue relating to crude oil.
  • Advised IZIT in litigation in the BVI Courts to enforce its rights under a promissory note that remains unpaid.

CMS

In addition to its work for retail and investment banks, CMS is making a name for itself in the cryptocurrency sector, where it represents crypto lending platforms, exchanges and investment funds in disputes. Kushal Gandhi and Vanessa Whitman take the lead in this area; Whitman is also noted for her work on insolvencies involving financial institutions, while Ghandi is frequently instructed on arbitrations. Tom Dane and Philip Woodfield jointly lead the group, with Woodfield particularly focused on retail banking litigation. Dane has a broad practice, which includes representing banks in enforcement proceedings and fraud claims.

Practice head(s):

Tom Dane; Phil Woodfield

Other key lawyers:

Kushal Gandhi; Vanessa Whitman

Key clients

Allied Irish Banks Plc

Close Brothers

National Westminster Bank plc

Commerzbank AG

Willis Towers Watson

Access Bank UK

Amazon Webservices Inc

Morgan Stanley

Tradewind Finance

C Hoare & Co

Work highlights

  • Advising a retail bank in High Court proceedings defending a fraud claim of up to £300m.
  • Advising an international trade finance bank in relation to a multi-million pound dispute under a letter of credit.
  • Advising a leading crypto-currency business in defending legal action brought by the police to freeze its bank accounts and forfeit funds held as alleged proceeds of crime.

Cooke, Young & Keidan LLP

Cooke, Young & Keidan LLP  is well-known for its work acting for clients in litigation against major banks, including representing them in both arbitration and court proceedings. The litigation boutique is adept at handling claims of misrepresentation, misselling and fraud, including follow-on proceedings from regulatory action, and also defends clients against enforcement proceedings brought by banks.  Elsewhere, the practice has a growing presence in disputes pertaining to fintech and cryptocurrency. Key figures in the practice include Sinead O’Callaghan, who has expertise handling disputes pertaining to a broad range of financial instruments; and Stephen Elam, who gets ‘to the kernal of an issue’ and draws on his past experience in-house at a derivatives brokerage to act on matters involving complex products. The practice brought on Natalie Todd and Jon Felce from PCB Byrne in April 2022, both of whom win praise from clients. Philip Young, a ‘doyen of the London boutique litigation market’, is now a consultant to the firm and taking a mid-career break.

Other key lawyers:

Philip Young; Sinead O’Callaghan; Stephen Elam; Lydia Danon; Natalie Todd; Jon Felce; Sam Roberts; Daniel Burbeary; Rosie Wild

Testimonials

‘The litigation team is well versed in complex situations, diligent and dynamic in their approach.’

‘Know banking and banking litigation better than almost every other firm. Led by great litigators who know which of the various banks’ buttons to press to get what they need.’

‘Lydia Danon is extremely good with tricky clients. Has a superb tactical brain. Senior associate Rosie Wild is a star. Massively hard working, super bright. Never seems to stop.’

‘A super-nimble but  well regarded banking, financial and fraud litigation team with the experience and aptitude to take on and win against the biggest players. Very well connected both in the UK and internationally. An absolute pleasure to work with, not least because the team are all clever, friendly and inclusive in their dealings with counsel.’

‘Philip Young is a doyen of the London boutique litigation market. Nobody with better judgement, knowledge of the law and tactical nous. Lydia Danon is completely ‘on-it’ from the word go. Focused and possessing superb client and team handling skills. Natalie Todd is deeply experienced in CIS and international financial, commercial and fraud litigation. Jon Felce has a deserved reputation for his legal knowledge and quiet, steely, effective drive for successful results.’

‘CYK are excellent in their core fields of banking, CDR and arbitration. They bring brilliant experience (many partners and associates are magic circle escapees) with a much lower price tag. A brilliant team for even major banking litigation.’

‘Simply put, CYK understand banking litigation. They work as a team and are a delight to work with. Steve Elam has a knack of getting quickly to the kernel of the issue.’

Key clients

Grove Park Properties Ltd

ThinkMarkets (FCA and ASIC-regulated online trading broker)

iFinex Inc (trading as Bitfinex). Bitfinex is a major cryptocurrency exchange platform where users can trade various cryptoassets and/or fiat currency.

Daniel and Toby Ward

The ECU Group PLC (“ECU”)

Fantasia Holdings Group Co., Limited

Oliver Morley, trading as Morley Estates

Work highlights

  • Representing  Grove Park Properties Ltd in a dispute with RBS related to a loan agreement.
  • Acting for ThinkMarkets group companies in Commercial Court proceedings brought by IS Prime Limited (part of the ISAM Capital Markets group). The proceedings relate to the basis upon which IS Prime provided matched principal brokerage services to ThinkMarkets on exclusive terms.
  • Represented Bitfinex as a defendant to well-publicised Commercial Court proceedings brought by an anonymous cyber insurer (“AA”) 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.

Dentons

Dentons  is particularly noted for its work in retail banking disputes, where it acts for a number of major banks in group actions. The group is also instructed by financial institutions to handle breach of trust claims, and has recently acted for the FCA and the FSCS in judicial review proceedings. Felicity Ewing leads the team and is ‘extremely knowledgeable in what can be a very technical area’, while Natalia Fludra has broad experience in cross-jurisdictional disputes. Daren Allen departed the firm in September 2021.

Other key lawyers:

Felicity Ewing; Richard Caird; Natalie Fludra; Thomas Leyland; Tom Hanson

Testimonials

‘Top rate banking litigation team. Particularly good in relation to retail banking disputes, particularly those with wider client impact and group litigation disputes.’

‘Richard Caird – highly experienced, excellent judgment and calm and unflappable.’

‘Felicity Ewing – developing her reputation as a go-to lawyer for retail banking disputes, very hardworking with excellent litigation instincts.’

‘Tom Hanson – an up and coming associate who is exceptionally bright and industrious.’

‘Felicity Ewing – a delight to work with; very good at managing client expectations and workload; always adds value in substantive discussions. Tom Hanson – senior associate: very clever and, like Felicity, really engages with the issues and tests counsels’ opinion.’

‘The team is very commercially minded and very familiar with the law in this area.’

‘Felicity Ewing is a pleasure to work with and extremely knowledgeable in what can be a very technical area.’

‘Rightly recognised as one of the strongest banking litigation teams in the City.’

Work highlights

  • Acting for the Financial Services Compensation Scheme (FSCS in relation to judicial review arising out of high profile collapse of mini-bond provider London Capital & Finance (LCF).
  • Advised TSX-listed Dye & Durham, a leading provider of cloud-based software and technology solutions to the legal industry, on its proposed c. US$2.5 billion acquisition of the Link Group (ASX listed) and its foreign subsidiaries located in various jurisdictions. The acquisition included a UK based financial services subsidiary which is subject to class action proceedings and regulatory investigation arising from a high profile fund collapse.
  • Acting for a major retail bank and a number of its subsidiaries in its defence of a claim by 150 + mortgage customers who are challenging the fairness of a mortgage product under the unfair relationships provisions of the Consumer Credit Act.

DLA Piper

DLA Piper has a strong track record representing banks in disputes, including litigation relating to bonds, loan facilities and insolvencies. The group is well-placed to handle cross-border litigation, drawing on the wider firm’s offices around the world, and is particularly active in emerging markets. Jamie Curle and Jeremy Andrews jointly lead the practice, with Jean-Pierre Douglas-Henry, a ‘superb tactician’, another key figure in the team. Andrews is praised as an ‘exceptional professional’, while Curle and Jeremy Sher are ‘razor sharp and intellectually brilliant’.

Practice head(s):

Jamie Curle; Jeremy Andrews

Other key lawyers:

Jean-Pierre Douglas-Henry; James Carter

Testimonials

‘The team is excellent. The lawyers at all levels are very good. They have the capacity and the ability to handle the largest pieces of litigation with ease, holding their own against any rivals. A firm that you could not go wrong with.’

‘Experienced and good quality performers, with deep industry knowledge and well-staffed teams.’

‘Jean-Pierre Douglas-Henry: superb tactician. Jamie Curle: effervescent, enthusiastic and a great team player. Jeremy Andrews: Rolls-Royce litigator, smooth and unruffled, no matter how tough the fight. James Carter: confident and no-nonsense, at ease in litigation or arbitration.’

‘Top notch institution-side banking team, with great depth of experience amongst the partners and senior associates. Their Leeds office is as good as any City practice in complex mis-selling and similar disputes, and much more cost efficient.’

‘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.’

‘An absolute star firm with strength across many practice areas including experience acting for the Respondent/Defendant party is Group Litigation / Multi-Party Actions.’

‘Both Jeremy Sher and Jamie Curle are particular stand outs – strategic and tactical nous, razor sharp and intellectually brilliant. Their honesty and loyalty are highly valued. The firm’s case load and client base is at the very top of the market.

‘The team is very well organised, with excellent industry knowledge. It is well placed to handle large complex matters, in particular matters involving substantial disclosure.’

Key clients

Christo Wiese (majority shareholder of the Steinhoff Group)

Clydesdale Bank PLC

Atlas Mara Limited and African Banking Corporation Zambia Limited

Deutsche Bank AG

Work highlights

  • Representing Christo Wiese, South Africa’s wealthiest individual and majority shareholder of the Steinhoff Group, in several high-profile multijurisdictional cases relating to the major 2017 accounting and fraud scandal of the listed Steinhoff Group.
  • Acting for Clydesdale Bank PLC t/a Virgin Money against repeat claims being pursued by 889 Trading Ltd and its managing director, David Taylor, in connection with the circumstances in which the Bank decided to sell 889’s mortgaged property following the default of its loan repayments.
  • Acting on behalf of Atlas Mara Limited and African Banking Corporation Zambia Limited in defending highly complex post-M&A litigation arising out of the 2016 acquisition of Finance Bank Zambia plc.

Enyo Law LLP

Litigation boutique Enyo Law LLP has ‘a wealth of experience, from top to bottom, in complex and high value banking disputes’. The team’s clients include international banks, insurers, administrators, corporations and prominent businessmen; it handles an equally wide-ranging workload of claims, with a particular focus on fraud, misselling and misrepresentation allegations. The group, led by Edward Allen, is also noted for its work disputes relating to insolvencies and restructurings. Allen took over as practice head in May 2022 from Simon Twigden; Twigden and fellow firm founder Pietro Marino are retiring from day-to-day practice but will remain as senior consultants to the firm. New senior partner George Maling is an ‘outstanding solicitor’ who is also qualified as a barrister. Lucinda Orr is also a practising barrister, with substantial expertise in complex, long-running court proceedings, while Nick Jones has a significant focus on cross-border litigation.

Practice head(s):

Edward Allen

Other key lawyers:

Pietro Marino; Simon Twigden; Nick Jones; Edward Allen; George Maling; Lucinda Orr; Jamie Leader; Jonathan Brook

Testimonials

‘Enyo is a boutique litigation practice with a wealth of experience, from top to bottom, in complex and high value banking disputes. This means that they have the flexibility to create a team with the right resources and expertise to meet the needs of the client in almost any litigation.’

‘George Maling is an outstanding solicitor, whose charm and relaxed manner belies an acute legal mind and excellent judgement, drawn from his years of experience in banking cases.’

‘Their strength in depth is particularly impressive and stems from their boutique model. The firm has quality dispute lawyers at every level – paralegal to partner . No matter who is handling your case, you can be confident that they will have a deep understanding of the legal issues and astute judgement on how to develop a case; and be extremely diligent in their management of it. No stone will be left unturned and every good point identified and deployed.’

‘Jamie Leader – gregarious and knowledgeable.’

‘Enyo offered me a highly personalised service for the litigation case I was dealing with. They were extremely professional, covered all aspects of the required work to a very high standard and helped position my case in a way which countered the case made by the counter-party extremely impressively.’

‘For me Enyo Law stands out compared to other law firms due to its value for money and very prompt but high-quality response to any issues raised by us. Their billing is also very detailed and easy to assess.’

‘ Jonathan Brook  is a very responsive, experienced and skilled lawyer who addresses all our inquiries (even not expressly linked with initial task) quickly and comprehensively and proposes many possible solutions for any matter with detailed description of pros and cons.’

Key clients

Gennadiy Bogolyubov

Joint Liquidators of Allied Wallet Limited – Shane Crooks, Emma Sayers, Malcolm Cohen, all of BDO LLP

Banco Comercial Portugues S.A., Banco Internacional de Moçambique S.A., and United Bank for Africa PLC

The Libyan Investment Authority

Greensill Bank AG (in administration)

Sheikh Walid bin Ibrahim al Ibrahim

SCOR SE

Natalie Burrett and Neale Jackson of Calibre Partners as Receivers of Pyne Holdings Limited (in Receivership) and PHL

Marc de Picciotto

Work highlights

  • Acting for three clients (Banco Comercial Portugues S.A, Banco Internacional de Moçambique S.A. and United Bank for Africa PLC) in a long-running and multi-jurisdictional debt scandal in relation to a $2 billion loan provided to the Republic of Mozambique which is now in default (the Tuna bonds scandal).
  • Acting for SCOR 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.
  • Acting for the administrators of Greensill Bank AG, a German bank and sister company to Greensill Capital (UK) Limited, in litigation related to the collapses of both companies.

Eversheds Sutherland (International) LLP

Eversheds Sutherland (International) LLP works closely with prominent retail and wholesale banking clients, acting for them as both claimants and defendants across the full spectrum of banking disputes. Practice head David Flack defends wholesale banks against claims of fraud, and also acts for them in enforcement proceedings, while Mark Cooper has carved out a niche in handling matters involving freezing orders. Jennifer Miles stands out for her work on group claims and fraud-related litigation. Andrew Legg retired from the partnership in May 2021 and is now a senior consultant.

Practice head(s):

David Flack

Other key lawyers:

Mark Cooper; Jennifer Miles; Andrew Legg; Gregory Brandman

Testimonials

‘Ability to put together a multi-disciplinary team to cover all aspects of complex banking disputes, including  the insolvency and fraud angles. Also excellent use of associates in their regional offices to maximise efficiency and costs savings’

‘I would pick out Mark Cooper for his excellent team management and clear and detailed advice, both legal and strategic.’

‘Good team with a lead partner who is excellent at delegating where appropriate/bringing in expertise. The team make themselves available and provide advice/recommendations in simple language not “lawyer-speak”’

‘Mark Cooper is excellent – he understands issues quickly and gives advice that is  practical and also has the ability to provide recommendations with the commercial slant that we require’

‘In depth knowledge of the sector – real day-to-day experience of issues for in-house counsel in the banking sector, and of the issues which can blow up for banks during litigation’

‘David Flack – highly capable and energetic, makes himself available, pleasant to deal with’

‘We have little need for commoditised legal services, but we do have a need for individualised specialist advice on complex legal and factual matrices, which demands a significant level of senior legal commitment . We get that from Eversheds’ Mark Cooper, who has proven adept at assimilating the different legal and commercial issues into clear advice about the optimum strategy and tactics.’

‘Neville Gray  – absolutely top quality; a great team leader, a very clever and sophisticated solicitor, utterly delightful, and someone you really want on your side in a massive banking dispute. Jennifer Miles  – As good a litigator as you’ll ever come across. She’s on top of the detail while having a superb sense of the bigger picture; she knows exactly where the weaknesses in an opponent’s case lie, and knows how best to exploit them; she’s highly intelligent; and she’s a superb team-leader. ‘

Key clients

HSBC Bank Plc

Options UK Personal Pensions LLP (formerly Carey Pensions UK LLP) (“Options”) / Carey Pension Trustees UK Limited

Law Debenture Trust Corporation plc

Kamran Amouzegar

Doha Bank Q.P.S.C.

Global Energy Horizons Corporation

HSBC Bank Plc

HSBC Private Bank (Suisse) SA

Various / Interim Court Orders

Hausfeld & Co LLP

Hausfeld & Co LLP 's banking litigation team is described as a ‘great and close-knit unit of ex-City partners with banking experience now deployed in a crack squad to assist the investor and borrower community’. It stands out for being conflict free and able to act against major financial institutions on behalf of claimants. It has expertise on financial services disputes, acting on claims relating to electronic trading platforms and cryptoassets among other things. The team counts on the expertise of ‘outstanding lawyerJohn McElroy, ‘exceptionally brightLucy Pert, ‘absolutely brilliantSimon Bishop  and the ‘extraordinaryLianne Craig, who recently became London managing partner. The firm’s commercial disputes practice (which includes banking litigation) now accounts for around 40-50% of the firm’s work.

Practice head(s):

John McElroy

Other key lawyers:

Lucy Pert; Simon Bishop; Lianne Craig; Anthony Maton

Testimonials

‘They have been innovative in identifying new issues in banking litigation and are not afraid to take on difficult, interesting cases, often against the magic circle and big American firms. Hausfeld is able to hold its own against much bigger firms and often out-manoeuvres them.

‘The ethos of the firm is unique – there is a real sense of fairness, the partners are protective of their associates’ wellbeing and there is a real sense that everyone likes one another and enjoys working there.

‘They have a truly collaborative approach and, as counsel, it really does feel as though you are all working as part of the same team.’

‘Simon Bishop  – Absolutely brilliant. Simon has excellent technical knowledge and an exceptional eye for detail, whilst also being a very strong strategist. He is also a delight to work with.

Lucy Pert – Exceptionally bright and excellent under pressure.’

‘The team consistently produce work of the highest quality within short time frames. They are always very professional and have a strong focus on clients’ needs. They are great to work with and easy to contact.’

‘Anthony Maton and Scott Campbell have been great in any collaboration, providing exceptional expertise and handling all matters professionally and quickly.’

‘Great and close-knit unit of ex-City partners with banking experience now deployed in a crack squad to assist the investor and borrower community’

Key clients

Former Inquiry Chair at the Competition and Markets Authority

Leeds City Council Greater Manchester Combined Authority North East Lincolnshire Council Newcastle City Council Oldham Council Nottingham City Council Sheffield City Council

State Oil Limited and The Prax Group

All Party Parliamentary Group on Fair Business Banking

Phelan Energy Group Limited

Work highlights

  • Filing a major collective action on behalf of Phil Evans against entities in six global banking groups – Barclays, Citigroup, JPMorgan, MUFG Bank, RBS/NatWest and UBS – seeking damages in respect of foreign exchange (FX) spot trading cartels.
  • Representing the APPG, which brought a high profile judicial review against the Financial Conduct Authority (FCA), requiring it to give bank customers a route to access compensation of multiple £billions for the mis-selling of financial products by banks, after the FCA refused to act following the outcome of the Swift Review published in December 2021.
  • Acting in a dispute about entry into FX trade which has the potential to change the legal landscape and have far-reaching consequences. The claim raises novel questions on the interpretation of certain provisions of the 2002 International Swaps and Derivatives Association (ISDA) Master Agreement.

Macfarlanes LLP

With a team that includes ‘some of the most experienced and highly regarded practitioners in the area’, Macfarlanes LLP acts for a client base that includes banks, investment funds, broker-dealers and sovereign states across the full range of banking disputes. Barry Donnelly is ‘exceptionally experienced and talented’ and is currently engaged in a number of transatlantic disputes, while Matt McCahearty is ‘one of the leaders in the field’ and handles both commercial litigation and regulatory investigations. Dan Lavender is also skilled at advising on regulatory and commercial disputes, and is regularly instructed on cross-jurisdictional cases. All named partners jointly lead the team.

Practice head(s):

Barry Donnelly; Matt McCahearty; Dan Lavender

Other key lawyers:

Laura Bridgewater

Testimonials

‘Barry Donnelly is extremely experienced and tough while remaining courteous and professional throughout. A class act.’

‘They have some of the most experienced and highly regarded practitioners in the area. Truly first class.’

‘Barry Donnelly is an exceptionally experienced and talented lawyer. Clients love him and he gets results.’

‘Matt McCahearty is rightly regarded as one of the leaders in the field.’

Key clients

The State of Qatar

NatWest

The British Bankers’ Association

JB Firth Rixson Inc, and FR Acquisitions

Financial Market Standards Board (FMSB

Milbank

Milbank has a broad banking litigation practice, with a noteworthy focus on acting for wholesale and retail banks in competition-related litigation. The practice is also regularly engaged by lenders to handle disputes related to the financing of transactions and projects, as well as by committees of noteholders. The group also draws on its links to the US to handle matters with transatlantic elements. Julian Stait heads up the group and leads on disputes involving competition issues, while Mona Vaswani has recently been engaged on a number of claims related to distressed financial instruments. Tom Canning and William Charles are also key partners in the team, with broad practices in this space.

Practice head(s):

Julian Stait

Other key lawyers:

Mona Vaswani; Tom Canning; William Charles; Charles Evans

Key clients

Rabobank

Visa Inc., Visa International Service Association, Visa Europe Limited, Visa Europe Services LLC and Visa UK Limited

Work highlights

  • Acting for Visa  defending claims pursued by Dune Group Limited and more than 600 other claimants in the Competition Appeal Tribunal, alleging that Visa abused its dominant position and breached other aspects of English and European competition law in relation to the setting and implementation of multilateral interchange fees associated with the use of Visa branded debit and credit cards and the imposition of other rules and fees.
  • Acting for Visa in multiple further sets of proceedings in the High Court and Competition Appeal Tribunal in which various Visa entities are being sued for alleged infringements of competition laws in various continental European jurisdictions in relation to the setting and implementation of multilateral interchange fees associated with the use of Visa-branded debit and credit cards.

Norton Rose Fulbright

Norton Rose Fulbright frequently acts for prominent banks including HSBC, Citibank and BNP Paribas in litigation ranging from the enforcement of loans to allegations of anti-competitive behaviour. The team is instructed to represent banks as both claimants and defendants, including defending them against group claims, and regularly handles cases involving significant reputational risk. The group’s work on competition-related claims encompasses follow-on litigation and the banking litigation group works closely with the firm’s competition law team to act on these matters. Harriet Jones-Fenleigh has experience of handling very high-profile disputes, including litigation involving sovereign states, while Radford Goodman has a broad practice across insolvencies, defaults and fraud claims. Consultant Matthew Waudby has a particular focus on derivatives-related disputes. James Lockwood was made up to partner in January 2022, while Michael Godden departed the firm in March 2022.

Other key lawyers:

Harriet Jones-Fenleigh; Radford Goodman; Matthew Waudby; David Harris; James Lockwood; Aditya Badami; Annie Birch; Emily Smith

Testimonials

‘The team has a broad range of experience in major financial disputes both in litigation and international arbitration (including structured finance, banking disputes and civil fraud), coupled with particular focus in financial technology.’

‘Aditya Badami is exceptional in every way. He always acquires a total mastery of the facts and relevant law of a dispute, impressing clients and colleagues alike. His lateral thinking and shrewd strategic judgement make him a real force in a major piece of litigation.’

‘Hands-on, specialist knowledge of all aspects of banking litigation from large scale securitisation disputes to claims by individual account holders. They are also very proactive in involving the client at key decision points.’

‘I would point particularly to Radford Goodman. He is perceptive, skillful at recognising the needs of the client, but also realistic and clear in his advice.’

‘Great team with a breadth of knowledge and experience.’

‘James Lockwood is a young partner who is really going places. Aditya Badami: very studious and hard-working, he can produce quality drafting in remarkably quick time. Emily Smith has a very keen eye to detail – a great person to have on your team.

‘Outstanding knowledge of the sector and a hard-working, down to earth attitude.’

‘Radford Goodman is calm and responsive with common sense approach. He is knowledgeable and helpful. Annie Birch is straightforward and to the point. She gives a clear point of view. Aditya Badami is enthusiastic and has a clear view as to the best course of action.’

Key clients

The Law Debenture Trust Corporation p.l.c

HSBC

Republic of Angola

Citibank, N.A. and Citigroup Global Markets Limited

Citicorp Trustee Company Ltd

Société Générale

Goldman Sachs

Barclays

BNP Paribas

Emirates NBD Bank

Work highlights

  • Acting for HSBC defending two related complex billion pound and hundred million pound group action fraud and civil conspiracy claims. This is a very high value dispute involving complex legal issues and a high degree of financial, regulatory and reputational risk.
  • Acting for HSBC in defending very high profile claims issued in the High Court on behalf of more than one hundred and seventy claimants in consolidated proceedings alleging the bank defendants’ conduct over a ten year period caused (at the time of going to press) unspecified damages through benchmark and pricing-related manipulation
  • Acting for Citicorp Trustee Company Ltd (CTCL) in respect of a Sukuk (Islamic bond) default. CTCL continues to pursue enforcement options to recover the US$650m owed to holders, including bringing proceedings in Saudi Arabia and England.

Reed Smith LLP

Reed Smith LLP wins praise from clients for its ‘excellent quality of work and attention to detail’, with experience representing banks, corporate entities, asset managers and investment funds. In addition to its broad client base, which spans a range of jurisdictions, the team has a similarly varied workload, including litigation pertaining to securities, loan facilities, bonds and investments. The ‘enormously clever and experienced’ Nick Brocklesby leads the practice, with Tom Webley highly active in enforcement proceedings. Other key figures in the team include George Hoare and counsel Oliver Rawkins.

Practice head(s):

Nick Brocklesby

Other key lawyers:

Tom Webley; George Hoare; Oliver Rawkins

Testimonials

‘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 – exceptional client service. Enormously clever and experienced. Brilliant for strategy. Great advocate too.’

‘Excellent quality of work and attention to detail; sound judgement; client driven approach.’

‘Reed Smith are excellent litigators. I am impressed whenever I work with or against them. They manage complex litigation very effectively, knowing which points to push and which to avoid, and always achieve great results for their clients.’

‘Nick Brocklesby is superb in every way. He is a technically excellent lawyer, quickly gets to the nub of an issue, and then works tirelessly to achieve the best outcome possible. He gives clear and sound advice to clients and is always a pleasure to work with.’

‘The firm and its individuals handle clients in very professional manner and have a lot of capability and advanced technology to assist’

Work highlights

    Signature Litigation LLP

    Boutique disputes firm Signature Litigation LLP is instructed on a broad range of mandates in the banking litigation space, acting for clients including banks, investment funds, corporates and high net worth individuals. The group acts for both defendants and claimants across disputes involving claims of fraud, misrepresenation and breaches of fiduciary duty. Practice head Graham Huntley is ‘a legend in the London banking litigation market’, while Abdulali Jiwaji is ‘absolutely unflappable’ and has expertise across regulatory and civil disputes. The group continues to grow, with Becca Hogan and Rory Spillman made up to partner in June 2021. The pair win praise from clients, with Hogan offering ‘excellent grasp of the detail’ and Spillman noted for his ‘tremendous judgement’.

    Practice head(s):

    Graham Huntley

    Other key lawyers:

    Abdulali Jiwaji; Becca Hogan; Rory Spillman; Josh Wong; Ioannis Alexopoulos; Ritwick Ghosh; Ollie Swain; Daniel Spendlove; Neil Newing

    Testimonials

    ‘Signature is a firmly established boutique litigation firm now winning substantial mandates in all areas of banking litigation.’

    ‘Rory Spillman – new partner with tremendous judgement and very hard-working. Highly recommended for banking disputes.’

    ‘Very experienced banking litigation team. Hands-on and focused on the client. Knows the industry backwards.’

    ‘Becca Hogan is an exceptional new partner. She has an excellent grasp of the detail and her judgement is sound. A safe and skilled pair of hands.’

    ‘Graham Huntley – a legend in the London banking litigation market, with particular experience in the interface of banking and fraud. Ioannis Alexopoulos is a very experienced banking litigator. Daniel Spendlove is highly creative and commercial. Neil Newing is very thoughtful.’

    ‘Abdulali Jiwaji is absolutely unflapable, even in the most stressful of circumstances. He also has a relentless focus on the practical requirements of his clients. Ritwick Ghosh is always a pleasure to work with and has a lightness of touch even in the heaviest and most stressful of cases. Ollie Swain is intelligent and hard working, he is cerebral without letting this get in the way of practical advice.’

    ‘The team really worked as a whole and exceptionally well together. They had strong performance no matter who showed up. Really exceptional coordination, teamwork and client care.’

    ‘Signature delivers excellent work product at a price point that makes it an exceptional value proposition for clients. It runs lean teams of high-quality lawyers and does so successfully against far larger and more expensive teams of opponents.’

    Key clients

    Georgian Co Investment Fund

    Privinvest companies and Mr Iskandar Safa

    Bugsby Property LLC

    Finflor S.p.A

    RBS Rights Issue litigation (a group of approximately 80 corporations and platforms and thousands of smaller companies and individuals being RBS Shareholders known as the SG Group Claimants)

    Hunnewell Partners – Recovery Partners

    Work highlights

    • Representing Georgian Co Investment Fund, owned by Bidzina Ivanishvili and immediate family, who allege wholesale and serious fraud and dishonesty by individuals within the elite fund management business within Credit Suisse. The alleged losses arising from the handling of the Claimants’ family investments and assets pursuant to a range of commercial trust arrangements total around USD1 billion.
    • Representing Privinvest and Iskandar Safa in a high-value and hard-fought Commercial Court Claim brought by the Republic of Mozambique against Credit Suisse, Privinvest and others. This matter is valued at over USD2 billion.
    • Advising Bugsby Property on claims against Legal & General (L&G) for breaches of a Confidentiality and Exclusivity Agreement entered into after Bugsby approached L&G to finance its bid to purchase the Olympia Exhibition Centre and estate in Kensington from Capital and Counties PLC (CapCo).

    Simmons & Simmons

    At Simmons & Simmons, the banking litigation practice frequently defends banks against fraud, misrepresentation and conspiracy claims, and is also increasingly active working on behalf of claimant banks. The group, led by Patrick Boylan  and Caroline Hunter-Yeats, represents banking clients in cross-jurisdictional enforcement proceedings and freezing orders, with Alexander Thavenot particularly focused on this work. Elsewhere, Robert Turner remains a key contact for litigation related to asset management, while Richard Bunce is praised as ‘very sensible and pragmatic’. Robert Allen ‘fights vigorously for his clients’ interests’, particularly in fintech and retail banking disputes, and Adam Brown is highly praised by peers and has recently worked on derivatives and fraud claims. Colin Passmore is now the firm’s client development partner.

    Practice head(s):

    Patrick Boylan; Caroline Hunter-Yeats

    Other key lawyers:

    Alexander Thavenot; Robert Turner; Richard Bunce

    Testimonials

    ‘Rob Allen is down-to-earth and fights vigorously for his clients’ interests.’

    ‘Adam Brown is one of the best litigation partners in the City – no point escapes him and his strategic contribution to the case is always invaluable; he understands his clients better than they do themselves. He is a formidable person to be instructed by but it is always a huge pleasure to work with him. He is a real team leader and achieves fantastic results for his clients.’

    ‘Sensible pragmatic approach that takes into account the commercial realities of any given situation.’

    ‘Richard Bunce has sound judgement, is very sensible and pragmatic’

    ‘Strong team with some very strong individuals: can handle cases from the very large to those requiring a more surgical approach.’

    ‘Ed Crosse – good sense combined with good humour.’

    ‘This team are the best solicitors team I have ever worked with. They are incredibly responsive and practical in their advice. They are extremely good with clients. Their judgement is totally reliable. Above all, they are an exceptionally effective team, resourcing each case appropriately and without any egos ever getting in the way. They are a dream to work with and I would always recommend them in the strongest possible terms.’

    ‘Caroline Hunter-Yeats — a partner who inspires confidence and with exceptionally sound and reliable commercial judgment. She is a very tough and robust opponent, but a real pleasure to work with.

    Key clients

    EFG Bank AG

    Dmitry and Alexander Mints (the “Mints Family”)

    Kaupthing ehf

    Business Mortgage Finance, Sanne Group PLC and Target Servicing Limited

    The O1 Group

    Standard Chartered Bank

    Jefferies International Limited

    Bank of New York Mellon

    Monzo

    Macquarie

    Work highlights

    • Acting for EFG Bank AG, a Swiss private bank, as one of 41 defendants in an $800m claim brought by The Public Institution for Social Security of Kuwait in the Commercial Court.
    • 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.
    • Acting for the claimant, Macquarie, in a $22.5 million High Court Claim against an international counterparty in connection with an FX swap between the parties pursuant to an ISDA Master Agreement.

    Stephenson Harwood

    Stephenson Harwood‘s banking disputes practice spans the full spectrum of matters in this space, with experience handling complex litigation involving group claims as well as disputes involving allegations of fraud, bribery and misselling. The group further stands out for the geographic breadth of its workload in this area, which includes representing clients in cross-border disputes relating to East Asia, the Middle East, Europe and the US. Sue Millar and Edward Davis jointly lead the practice; Davis is regularly called in to work on litigation stemming from loan facilities and securitised debt, while Millar is a ‘dynamic and creative lawyer’ who is widely recognised for her expertise in sanctions. Genevieve Quierin focuses on group actions. Richard Garcia counts a number of international banks among his clients and is ‘commercially-minded and modern in his approach’, while Donna Newman ‘manages litigation with great skill and effectiveness’. John Fordham has deep experience in this sector and continues to represent clients before the High Court.

    Practice head(s):

    Sue Millar; Edward Davis

    Other key lawyers:

    Genevieve Quierin; Richard Garcia; Donna Newman; Ben Sigler; Stephen Ashley; Chris Pettett

    Testimonials

    ‘Ben Sigler, Christ Pettett and Richard Garcia  are all highly professional, experienced, keen to be of assistance, and give efficient and prompt solutions to problems. Their work reflects their in-depth expert knowledge and experience and is highly appreciated.’

    ‘I have worked with Stephenson Harwood on a wide variety of commercial litigation over 15 plus years. They have a first class team of dedicated and highly able lawyers who are a match for any litigation team.’

    ‘Edward Davis has an outstanding reputation. Richard Garcia – an outstanding lawyer and partner who leads the team adroitly. Totally focused on achieving the best outcome for the client. Donna Newman – very popular with clients, she manages litigation with great skill and effectiveness – she inspires confidence in the whole team. Chris Pettett – partnership surely beckons for this outstanding senior associate.’

    ‘This team is exceptionally strong when it comes to sanctions, export controls and corporate transactions. It also provides very practical, actionable advice and has great presence in the Middle Eastern Market.’

    ‘Exceptionally smart lawyers who grasp the detail much quicker than anyone else. Additionally the SH team are just generally ‘nice’ people to work with, which always makes things easier!’

    ‘Richard Garcia – intelligent, focused, commercially-minded and modern in his approach. He is an exceptional talent and ambassador for Stephenson Harwood. Richard’s qualities really stood out for me when I (like everyone else) was dealing with a number of urgent Russia/Ukraine related issues. Richard was always available / responsive, got to grips with the questions quickly and was either  able to answer directly or advised me of what types of things to look out for as the situation unfolded. His guidance and advice in this period has been absolutely instrumental in helping us navigate the unfamiliar territory.’

    ‘An exceptional practice with strength in depth and the ability to bring to any case an inter-disciplinary approach. The global outlook of the firm is truly impressive.’

    ‘Sue Millar – dynamic and creative lawyer, who is an inspiring team leader and who is utterly committed to her client’s cause. Particularly expert in the sanctions field. Top class. Stephen Ashley- brings to bear the perfect blend of the cerebral and the commercial.’

    Key clients

    RCI Financial Services Limited

    Mauritius Commercial Bank

    Alpha Bank Cyprus Ltd, Bank of Cyprus Public Company Limited, Cyprus Popular Bank Public Co Ltd

    Natixis S.A

    Shanghai Commercial and Savings Bank Limited (Taiwan)

    Lazuli Properties Limited, Lex Investments Limited, Elm Investments Limited, Avoncroft Holdings Limited, Snowden Investments Limited, Hassaan Joosub – Claim No: BL-2018-002422

    Medlands PTC Limited (as trustee of the Trust) and Spanish Steps Holdings Limited

    HSBC

    Work highlights

    • Representing over 1,000 claimants within the hospitality, leisure, retail, arts, ticketing, online betting, financial services and several other sectors in group claims brought against Mastercard and Visa seeking to recover losses incurred as a result of unlawful Multilateral Interchange Fees set by the card schemes.
    • Acted for Natixis in respect of a claim brought against it in the English Commercial Court by TOTSA Total Oil Trading SA, now named TOTSA TOTAL ENERGIES TRADING SA, (“TOTSA”) (a Swiss company involved in the business of trading oil and oil-related products and which is part of the Total group). TOTSA’s claim related to sale and repurchase agreements between TOTSA and Zenrock Commodities Trading Pte Limited in relation to a cargo of crude oil worth approx. US$ 55 million.

    Travers Smith LLP

    Travers Smith LLP acts for investment banks and their employees in litigation relating to derivatives transactions, alleged violations of anti-money laundering and anti-terrorism laws, and claims of market manipulation. The group’s recent work includes representing an investment bank in High Court proceedings involving a derivative transaction with an Italian regional government, with Caroline Edwards taking the lead on this case. Rob Fell heads up the practice and has close ties with Nomura, representing the investment bank in investigations and litigation. Stephanie Lee   and  Jan Jaap Baer are also names to note, with the latter focusing on disputes involving derivatives and structured finance. Alice Childs, Barney Stannard and Rachel Kitchman were made up to partner in 2021.

    Practice head(s):

    Rob Fell

    Other key lawyers:

    Caroline Edwards; Jan-Jaap Baer; Tony Robinson; Huw Jenkin; Stephen Paget-Brown; Alexa Day; Alice Childs; Barney Stannard; Rachel Kitchman; Natalie Puddicombe

    Testimonials

    ‘The cooperation and collaboration within the team is exceptional, the best I have ever experienced. The team is also very well equipped. I have been highly impressed with every member of the team, from top to bottom. The team is diverse as well and the roles of individual members of the team are well defined and clear.’

    ‘Stephen Paget-Brown is an exceptional attorney and a very experienced partner. He is quick and resourceful and always gives his honest opinion, which is very valuable to his clients. Alexa Day is an up-and-coming partner with exceptional analytical skills.’

    ‘Caroline Edwards is a class act. She is highly strategic and analyses the client’s needs from every angle. She gives outstanding practical advice.’

    ‘Travers Smith has a great team. They are hard working, thorough, and very strategic in their approach.’

    ‘Rob Fell, Alice Childs and Rachel Kitchman are all excellent, as is Natalie Puddicombe. They are across all the detail and yet remain focused on the big picture and strategic direction of the case.’

    ‘Travers Smith punches well above is weight in terms of its banking litigation practice. It is as good as the magic circle firms in this field. Its resourcing is brilliant, its lawyers are extremely clever, and its approach to diversity is fantastic.’

    ‘Rob Fell is a leading litigator in London. His judgement is excellent, and he gives extremely sensible advice. His clients love him. He has a great sense of strategy, and is all over the detail.’

    ‘Outstanding quality across all the work they do; first rate lawyers; extremely nice to work with. Highly recommended.’

    Key clients

    Nomura International PLC (NIP)

    Sadeq Sayeed

    Work highlights

    • Acting for a European investment bank in English High Court proceedings, in the Financial List, against an Italian regional government  seeking to recover outstanding payments and obtain declarations upholding the validiby an ISDA Master Aty of certain debt-restructuring derivative transactions governed agreement.
    • Acted for Nomura in connection with actions taken by an individual which were disruptive to NIP’s business. These included attempts to change NIP’s name to derivations of the Defendant’s own name by filing unauthorised and false Forms NM01 at Companies House and by writing to the FCA and PRA, and numerous assertions on the internet, including on social media websites, that the Defendant owned or controlled NIP.
    • Advising Sadeq Sayeed, the former CEO of Nomura International plc, in relation to (i) his appeal against a conviction by a court in Milan for false accounting, market manipulation and obstruction of a regulator in respect of complex derivative trades entered into between Nomura International plc and Banca Monte dei Paschi di Siena in 2009; and (ii) an appeal by the Italian financial regulator (CONSOB) to the Italian Supreme Court against a decision by the Court of Appeal of Milan regarding the same trades.

    Akin Gump LLP

    Akin Gump LLP‘s banking litigation team stands out for its ‘flexible and creative thinking on complex multijurisdictional disputes’. The team is led by Richard Hornshaw, who focuses on finance and securities law matters, as well as insolvency and restructuring situations. The team has expertise acting for hedge funds and other investment firms on a wide range of international investor disputes, particularly in the distressed debt space and sovereign, and quasi-sovereign debt disputes. Mark Dawkins retired in December 2021.

    Practice head(s):

    Richard Hornshaw

    Testimonials

    ‘Market leading litigation team. Excellent technical skills and commitment.’

    ‘Richard Hornshaw is a strong partner who provides invaluable guidance to clients, both from legal/technical and strategic perspective.’

    ‘Flexible and creative thinking on complex multijurisdictional disputes set the team apart, and that they don’t take a cookie cutter bank-side only approach’

    ‘Richard Hornshaw is not only a first rate lawyer but takes the time to understand (and adjust for) the specific commercial drivers for the client. 

    ‘Very involved team with top partner attention’

    ‘Richard Hornshaw is a cool and collected individual, always able to give practical advice’

    Key clients

    Ad Hoc Committee of Noteholders of Hurricane Energy

    The administrators of African Minerals Limited

    Apollo

    Ad Hoc Group of Senior Secured Noteholders of Galapagos

    Ad Hoc Group of Noteholders to Imtech

    Nordic Trustee AS

    Ad Hoc Committee of Noteholders of Noble Trading

    Work highlights

    • Advising the ad hoc committee of bondholders of US$230 million 7.5 per cent convertible bonds due 2022 (the “AHC”), issued by Hurricane Energy plc, in relation to a proposed restructuring of the Hurricane group under the restructuring plan under Part 26A of the Companies Act 2006.
    • Acting for the joint administrators of African Minerals Limited (AML). AML was an AIM-listed company that went into administration in 2015 with debts of approximately US$1 billion. The administration raised a number of high-value and complex issues, including, the proposal of a scheme of arrangement.
    • Acting for some of the world’s largest hedge funds and asset managers in their capacity as holders of Senior Secured Notes issued by Galapagos SA, a German manufacturing business, which went through a highly complex and contentious restructuring in 2019.

    Brown Rudnick LLP

    Brown Rudnick LLP‘s banking litigation team is described by one client as ‘one of the best commercial, financial and fraud litigation teams in London’. The team is led by Neill Shrimpton and draws on the expertise of Neil Micklethwaite, who is active in complex commercial disputes and fraud cases, and Jane Colston, who often acts for international companies and national governments. The team is a conflict free, dispute resolution group and has acted against banks including Goldman Sachs, JP Morgan and Deutsche Bank.

    Practice head(s):

    Neill Shrimpton

    Other key lawyers:

    Neil Micklethwaite; Jane Colston; Peter Bibby; Jessica Lee

    Testimonials

    ‘One of the best commercial, financial and fraud litigation teams in London. With all the weight and resource of an American/international law firm behind them, Brown Rudnick’s litigators are regularly instructed in the most important cases of the day and achieve stellar results for their clients, often against the might of much larger outfits. Incredibly nice to work with, too, which gives them a distinctive edge over many of their rivals’

    ‘Jane Colston  – brings a laser-focus to strategy and tactics in the most complex cases. Very highly experienced. The most committed solicitor I have had the pleasure to work with, her drive is always to achieve the very best result for her client. I have seen her go back to an opponent time after time, month after month, to ensure that the client’s goal is achieved. Jess Lee – a rising star. A keen eye for detail, superb litigation knowledge and experience, and always the brightest attitude and mode of communication’

    ‘Brown Rudnick are excellent litigators who understand the technicalities of the Banking and Financial Services World.’

    ‘Peter Bibby – a financial services and banking guru.’

    ‘Neill Shrimpton is very good, pragmatic, sensible.’

    Key clients

    Investors in Barclays Shares v Barclays PLC

    Various Investors v RSA Insurance Group Limited

    Group of Shareholders v Standard Chartered Plc

    Mikail Shishkhanov

    Work highlights

    • Acting for a group of around 200 institutional investors against Barclays Plc (“Barclays”) in claims under sections 90 and 90A of the Financial Services and Markets Act 2000. The group claims damages in excess of GBP 110 million arising from their reliance on alleged untrue and misleading statements and omissions in the Defendant’s published information, alternatively alleged dishonest delay in publishing relevant information.
    • Acting for a group of institutional shareholders against RSA Insurance Group plc, in claims under section 90A of the Financial Services and Markets Act 2000. The claims relate to untrue or misleading statements and omissions in the Defendant’s published information and/or dishonest delay in publishing relevant information.
    • Acting for a group of around 230 institutional investors against Standard Chartered Plc (“SCB”) in claims under sections 90 and 90A of the Financial Services and Markets Act 2000. The group claims damages in excess of GBP 450 million.

    Bryan Cave Leighton Paisner LLP

    Bryan Cave Leighton Paisner LLP’s banking litigation group benefits from its close collaboration with the firm’s financial regulatory, antitrust and white-collar groups. This approach enables it to act for a client base including prominent banks. It also leverages the firm’s global network to handle cross-border disputes. The team is led by Oran Gelb – who was recently appointed global co-head of the firm’s banking sector – and Graham Shear, who co-heads the commercial litigation team. The group also benefits from the expertise of its head of civil fraud Lltigation, Segun Osuntokun, who specialises in fraud claims and disputes, and ‘top tier legal adviser’ Andrew Tuson.

    Practice head(s):

    Oran Gelb; Graham Shear

    Other key lawyers:

    Segun Osuntokun; Andrew Tuson; Sarah McAtominey; Alexandra Kirby

    Testimonials

    ‘Great joined up service with good collaboration within teams and across the firm to ensure the best outcome for the client. High quality advice tailored to the client needs which is refreshing.’

    ‘Andrew Tuson is a top tier legal adviser. Highly intelligent, strategic thinker, with a considered approach and razor sharp instincts. Financial Services litigation adviser of choice and highly recommended.’

    ‘Alex Kirby is a talented senior associate who stands out from the crowd.’

     

    Key clients

    Vatche Manoukian

    BGC Partners

    Morgan Stanley

    Intertrust Management Limited

    London Stock Exchange

    Trade Capital Markets Ltd

    Settle Safe Ltd

    Work highlights

    • Advising Vatche Manoukian on his battle with two Lebanese banks who have been ordered by the court to transfer Mr Manoukian’s personal funds out of Lebanon.
    • Representing BGC Partners – in respect of large-scale frauds perpetrated on BGC Partners by rogue employees.
    • Advising Morgan Stanley in defending a stand-alone high value damages action brought in the English High Court by 175 institutional investors, comprising some of the largest hedge funds and asset managers in the world.

    Dechert LLP

    Dechert LLP‘s banking litigation team is known for handling high-stakes, multi-jurisdictional banking disputes. It is led by former barrister Dorothy Cory-Wright , who specialises in complex commercial litigation and contentious regulatory issues. The team benefits from a wide international reach and counts on the expertise of Adam Silver , who specialises in financial litigation. Daniel Natoff was promoted to partner in January 2022.

    Practice head(s):

    Dorothy Cory-Wright

    Other key lawyers:

    Adam Silver; Stephen Surgeoner; Andrew Hearn; John Bedford; Daniel Natoff;

     

    Key clients

    Ad Hoc Committee of Noteholders of PJSC Commercial Bank “PrivatBank”

    Blom Bank S.AL.

    Bank Audi S.A.L and Société Générale de Banque au Liban

    Banque Libano-Francaise S.AL.

    The Financial Conduct Authority

    Hasim Bora Özerman and Fusun Gonen

    SBM Bank (Mauritius) Limited

    Work highlights

    • 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 £230 million invested by over 11,000 retail investors.
    • Advising VTB as a secured senior lender in relation to a high-profile dispute between the Essar Group and ArcelorMittal.

    Fieldfisher

    Fieldfisher’s banking litigation team ‘combines legal excellence with sound judgement and practical commercial instincts’  and specialises in multi-jurisdictional cases. It is led by Andrew Lafferty, who advises on a range of commercial disputes, and also counts on the expertise of James Lewis, who has more than 15 years' experience of banking and finance litigation across many sectors and jurisdictions. Recently, the firm has been strengthened by the arrival of Kerri Wilson, who joined from Falcon and Hume Inc in January 2021. The team has a large dedicated Ukraine/CIS practice and acts for some of the largest Ukraine/CIS banks and trading houses in contentious work relating to loans, financial instruments and investment.

    Practice head(s):

    Andrew Lafferty

    Other key lawyers:

    James Lewis; Aymen Khoury; Kerri Wilson; Duncan Black; Kit Jarvis; Helen Mulcahy; Donna Goldsworthy

    Testimonials

    ‘Aymen Khoury is energetic and likeable. He works in a small but focused financial litigation outfit. He has a good eye for legal argument and is tenacious.’

    ‘Combines legal excellence with sound judgement and practical commercial instincts.’

    ‘Helen Mulcahy is a fierce and compelling lawyer who always finds a way to get the best result for her clients. One of the best fraud practitioners around.’

    ‘The most punctual team we have ever worked with. Always delivering on time. Focused and proactive. Great team of professionals knowing client’s industry very well.’

    ‘James Lewis is fantastic.’

    ‘When the situation needs a calm, controlled approach the team at Fieldfisher deliver. There can be a lot of noise in litigation but what one needs is sound advice, expertly delivered as there are many moving parts.’

    Key clients

    Mr Igor Kolomoisky

    Wirecard

    Mr David Standish and Mr James Bennett of KPMG as Joint Liquidators of Argyle UAE Limited

    Mansard Mortgages 2007-2 PLC

    Mr Nabil Moukarzel

    Work highlights

    • Acting for Igor Kolomoisky in the defence of a US$2.6 billion claim brought against him by PrivatBank, the largest commercial bank in Ukraine.
    • Advised and acted for Mansard following a sophisticated attack to defraud several millions using forged agreements and false companies house filings.
    • Acting for Mr Moukarzel in two sets of High Court proceedings concerning claims by two banks relating to loans and personal guarantees for funding worth over USD10 million to the Finatrade group (major retail goods business in West Africa).

    Sidley Austin LLP

    Sidley Austin LLP ’s City practice is considered by one client as ‘a major player in banking litigation, in particular in the investment and derivatives space’. The team is led by Matthew Shankland, whose experience expands across banking and derivatives, structured finance, share sales and shareholder agreements. The team leverages its international reach to handle multi-jurisdictional cases.

    Practice head(s):

    Matthew Shankland

    Other key lawyers:

    Andrew Fox; Alastair Hopwood; Sarah Lainchbury

     

    Testimonials

    ‘Sidley Austin LLP is now recognised as a major player in banking litigation, in particular in the investment and derivatives space. It brings excellent individuals and genuine expertise to this area.’

    ‘Matthew Shankland – very senior partner: he is hugely experienced in the whole field of financial and commercial disputes.’

    ‘Andrew Fox – stand-out partner, particularly in the field of international commercial arbitration.’

    ‘Sarah Lainchbury – she has a first-class work ethic and tremendous judgement, combined with a determination to get to the right answer in all disputes she handles.’

    Key clients

    Genworth Financial, Inc.

    Darty Holdings SAS

    Avonhurst

    Avonhurst‘s dispute  resolution team stands out as its practice represents an alternative approach to litigation/arbitration, incorporating advisory services and capital sourcing as a complement to law.  Industry veteran John Reynolds, who joined in September 2021 from White & Case LLP, heads the team. The firm also counts on the expertise of Audrey Koh, who specialises in cross-border investigations focused on anti-bribery laws.

    Practice head(s):

    John Reynolds

    Other key lawyers:

    Audrey Koh

    Key clients

    Russian Bank

    GoldenTree Asset Management LP

    Work highlights

    • Acting for GoldenTree Asset Management LP a in Norwegian litigation concerning an $80 million PIK (payment in kind) loan to a Norwegian telecoms group, Ice.

    Collyer Bristow LLP

    Collyer Bristow LLP‘s highly international banking litigation practice handles disputes relating to cryptocurrency, consumer lending and alleged market manipulation. Robin Henry and Janine Alexander are key figures in the team.

    Practice head(s):

    Robin Henry

    Other key lawyers:

    Janine Alexander

    Work highlights

      Gowling WLG

      Gowling WLG is particularly specialised in acting for liquidators of financial services companies, handling disputes involving their assets as well as litigation against former directors for alleged fraud and breach of fiduciary duty. Catherine Naylor and Andrew Witts take the lead on this work. James Sidwell leads the overall practice and has a close relationship with JP Morgan, representing the investment bank in a range of disputes related to loans and forex transactions.

      Practice head(s):

      James Sidwell

      Key clients

      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 Matthew Richardson as liquidators of Durant International Corp and Kildare Finance Limited and MacDoel Investment Limited

      RSM Restructuring Advisory LLP

      Work highlights

      • 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.
      • Instructed by Kevin Hellard and Matthew Richardson as liquidators of Durant International Corp, Kildare Finance Limited and MacDoel Investment Limited, three BVI companies connected to Paulo Maluf, the former Mayor of Sao Paulo, to recover assets misappropriated as part of a c. $200m fraud perpetrated by him.
      • 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.

      Greenberg Traurig, LLP

      Greenberg Traurig, LLP‘s London litigation team advises banks, private equity houses, hedge funds and assets managers. ‘Born strategist and litigatorMasoud Zabeti, who specialises in handling multijurisdictional matters, leads the team. It also counts on the expertise of Mohammed Khamisa KC and Ian Bean. The group was significantly bolstered in October 2021 when it brought on a team of fraud specialists from Mishcon de Reya LLP, including Kathryn Garbett, Claire Broadbelt, Annabel Thomas, Martin Shobbrook, Hannah Blom-Cooper and of counsel Jo Rickards.

      Practice head(s):

      Masoud Zabeti

      Other key lawyers:

      Mohammed Khamisa KC; Ian Bean; Katharine Bond

      Testimonials

      ‘Masoud Zabeti is a force of nature – a born strategist and litigator.’

      ‘Excellent communicators. Very practical lawyers. Legal advice that makes business sense. They are on top of their game.’

      ‘Masoud Zabeti, Katharine Bond. Excellent lawyers. They are great strategists, communicate effectively with their clients, deliver on their promises and find practical solutions to client problems. They work very fast and their advice is spot on.’

      ‘Masoud Zabeti – deservedly one of London’s leading litigators.’

      ‘Masoud Zabeti – hard to over-state how good Masoud is. He is highly intelligent, has excellent judgment and great understanding of his clients. He is always looking for new angles on a case and for new ways to improve his client’s position. He also has great judgement in how he works with his own team: he has a real knack for bringing out the best in counsel.’

      ‘Ian Bean – excellent senior lawyer: intelligent, mentally active, hard-working and across the detail. A strong member of any team.’

      Key clients

      JSC BTA Bank

      Tradition Financial Services Limited/Tradition (UK) Limited/TFS Derivatives Limited

      Crane Bank Limited (a Ugandan Bank) and its shareholders

      Shareholder of Somap International PTE Limited

      Astir Maritime Limited

      Benjamin Churchill, Oumar Diallo and Zaki Nuseibeh (investment advisers)

      Bank Frick & Co A.G.

      Work highlights

      • Acting for JSC BTA Bank in the recovery of assets as part of the multi-billion USD fraud perpetrated by Mukhtar Ablyazov and his associates.
      • Advising  Ugandan bank Crane Bank and its shareholders in relation to special measures taken against the bank by the Central Bank of Uganda as part of a corrupt scheme to take control of the bank and misappropriate its assets.
      • Acting for the shareholder of a Singapore based shipping company in a series of related disputes (amounting to approximately USD130m) in the London Commercial Court brought by a number of financial institutions alleging fraud and breaches of various lending facilities.

      Humphries Kerstetter LLP

      Humphries Kerstetter LLP’s workload in banking litigation encompasses disputes pertaining to derivatives, securitised loans and retail banking. The sizeable team acts for both claimants, including corporates and groups of individuals, and defendant financial institutions. The group experienced changes at the top in April 2022, with Kristopher Kerstetter and James Russell promoted to senior partner and managing partner, respectively. Both continue to be active in the space, while Robert Javin-Fisher joined from Herbert Smith Freehills LLP as a partner in April 2021 and is praised as an ‘excellent negotiator’. Other names to note include the ‘superb’ Joanna Pearson, Christopher Braithwaite, who offers ‘huge breadth of experience’, and Mark Humphries, a founding partner who possesses a ‘towering intellect’. All named partners jointly lead the team alongside Toby Starr.

      Practice head(s):

      Kristopher Kerstetter; James Russell; Joanna Pearson; Toby Starr; Robert Javin-Fisher; Mark Humphries; Christopher Braithwaite

      Testimonials

      ‘From the most junior members of staff to the managing partners, the ethos of care, attention and commitment is apparent. The attention to detail is unparalleled. The firm is able to achieve this technical excellence whilst still being personable and supportive’

      ‘Mark Humphries- a towering intellect. Vastly knowledgeable, calm, thoughtful and with a firm understanding of the needs of business. James Russell is a brilliant negotiator and approaches all situations with a multi-faceted attitude. Astute understanding of commercial drivers. Robert Javin-Fisher is also an excellent negotiator and communicator. Very approachable, with an ability to defuse situations with a relaxed but confident style of communication.’

      ‘This is a good boutique firm with experieince in commercial litigation and arbitration. The two founding partners are both highly experienced and good to work with. I have mainly dealt with Kris Kerstetter who really knows the area well and is hands on and sensible.’

      ‘Joanna Pearson is a superb lawyer. Really good to work with. Efficient and knowledgeable. Chris Braithwaite has a huge breadth of experience and real gravitas and judgement.’

      Key clients

      J. García Carrión

      Uro Property Holdings S.A. (a wholly owned subsidiary of Banco Santander)

      Compagnie des Grands Hôtel d’Afrique S.A

      Eville & Jones (Group) Limited

      Shareholders in venture capital trust Core VCT plc

      Mishcon de Reya LLP

      Mishcon de Reya LLP offers ‘excellent industry knowledge’ and regularly acts on cross-jurisdictional banking and corporate finance litigation as well as disputes pertaining to private equity. The team has a particular focus on advising claimants and defendants in matters involving claims of fraud, with group head Derval Walsh representing banks, corporates, high net worth individuals and investment funds in this area. The firm made a round of partner promotions in this department in November 2021, with the ‘outstanding’ Edwin Chik, the ‘superb’ Samantha Kakati and Henry Farris, who leads on PE disputes, all promoted.

      Practice head(s):

      Derval Walsh

      Other key lawyers:

      Samantha Kakati; Edwin Chik; Henry Farris

      Testimonials

      ‘Great team across the board, with excellent industry knowledge.’

      ‘Samantha Kakati is definitely one to watch – she is superb.’

      ‘Very capable lawyers, responsive to client needs and concerns, easily available and dependable legal advice.’

      ‘Edwin Chik leads the team and is an outstanding lawyer.’

      ‘Samantha Kakati is irreplaceable. She always knows what you’re thinking before you do…a brilliant problem solver.’

      Key clients

      The ECU Group plc

      Crane Bank Limited , Dr Sudhir Ruparelia & other shareholders of Crane Bank Limited

      Yapi Kredi

      Bankasi SA

      Maze Sàrl

      Cevdet Caner and Aggregate Holdings SA

      Mr Christian Hore and Little Wings Investments Limited

      Borro Group and Victory Park Management LLC

      Solad Mohammed and Others (Trustees of Abbey Mills Mosque)

      Prime Capital (Bermuda) Limited

      OBEX Securities LLC

      RiverRock European Capital Partners LLP

      Work highlights

      • Advising ECU in High Court proceedings against three HSBC entities for unlawful foreign exchange (“FX”) trading practices, specifically front running, the wrongful addition of mark-ups to the rates on completed FX orders and the misuse of confidential client information.
      • Advising Crane Bank and its founder and chairman, business magnate Dr Sudhir Ruparelia and certain other shareholders in their Ugandan law claims in the English High Court for conspiracy, dishonest assistance, corruption and knowing receipt against DFCU Bank, its officers and certain majority shareholders, in respect of the forced resolution of Crane Bank by Bank of Uganda and the transfer of its assets to DFCU.
      • Advising Victory Park Management LLC, as private equity investor and 100% owner, in bringing claims on behalf of companies in the Borro Group against the Group’s former chief executive and director, Paul Aitken. The claims relate to breaches of Mr Aitken’s statutory, contractual and tortious duties.

      Morgan, Lewis & Bockius UK LLP

      Morgan, Lewis & Bockius UK LLP has broad expertise in banking litigation, where it is instructed by banks, investors and investment managers on cross-border mandates. Melanie Ryan  draws on her experience handling both litigation and regulatory proceedings and has a particular focus on representing claimants and defendants in enforcement proceedings. Chris Warren-Smith stands out for his work in securities litigation, while Peter Sharp is highly active representing aviation leasing companies.

      Practice head(s):

      Melanie Ryan; Chris Warren-Smith

      Other key lawyers:

      Peter Sharp; David Waldron; Keir Baker; Paul Mesquitta

      Testimonials

      ‘The ability to achieve global coverage whilst still maintaining a personal touch and excellent delivery of services.’

      ‘Peter Sharp and David Waldron – both truly excellent’

      ‘Chris Warren-Smith and his teams are exceptional litigators. Chris himself has decades of experience and makes very good use of it – committed, intelligent, excellent with clients, and with a very good dry sense of humour. Others who stand out are Keir Baker, and Paul Mesquitta.’

      ‘Keir Baker and Paul Mesquitta are both very good.’

      PCB Byrne

      Formed by the merger of PCB Litigation and Byrne & Partners in April 2021, PCB Byrne has a highly international practice acting for banks in disputes relating to distressed debt, loan facilities and structured finance. The practice is increasingly active in representing Indian banks, with the Middle East also a region of focus. ‘Powerhouse’ litigator Anthony Riem and the ‘hugely experienced’ Nicola Boulton jointly head the team. Trevor Mascarenhas has experience acting both for and against banks, offering his clients ‘exceptional legal knowledge’, while Nick Ractliff is praised as ‘a man who gets things done’. Natalie Todd and Jon Felce departed in March 2022.

      Practice head(s):

      Anthony Riem; Nicola Boulton

      Other key lawyers:

      Trevor Mascarenhas; Nick Ractliff; Ben Davies; Elizabeth Seborg

      Testimonials

      ‘A well-drilled and effective team who know how to win big banking cases.’

      ‘Good mix of knowledge and specialties, which allow the firm to address all kind of requests and complex situations. As a client, you feel a real sense of good collaboration and professionalism from the team, and a dedication to finding the best and most relevant solution.’

      ‘PCB is an exceptional firm filled with talented, responsive, deeply knowledgeable, practical and efficient lawyers who are also wonderful people to work with, none more so than senior partner Trevor Mascarenhas. The firm is also more than on top of all the fast moving technological improvements in the litigation sphere.’

      ‘Nick Ratcliff is exceptionally good.’

      ‘Trevor Mascarenhas has exceptional legal knowledge, a sound strategic mind and is great to work with. Anthony Riem is an astute and renowned litigator.’

      ‘The two biggest hitters here are probably Anthony Riem and Trevor Mascarenhas. Riem has remarkable litigation instincts, and Mascarenhas is super bright. But to single out these partners risks missing Nicola Boulton (hugely experienced, very clever, outside the box thinker), Nick Ratcliff (a man who gets things done), Ben Davies (great in every single department) and Elizabeth Seborg (very, very effective).’

      ‘Anthony Riem is a powerhouse who is approachable and sees the shape of issues from a clients perspective. He is solution-oriented in a truly unusual way. Trevor Mascarenhas is like having an in-house silk on call.’

      Key clients

      His Excellency Saeed Alqebaisi and Mr Khaleefa Almuhairi

      Walid Giahmi

      Invest Bank PSC

      Deposit Guarantee Fund of Ukraine, as liquidator of National Credit Bank

      Punjab National Bank (International) Limited

      Associazone Cassa Nazionale di Prevedenza Ed Assistebnza A Favore dei Ragioneri E Periti Commerciali and Adenium SICAV, a Luxembourg Investment Fund

      Work highlights

      • Acting for His Excellency Saeed Alqebaisi and Mr Khaleefa Almuhairi in defending a US$1bn claim brought by Abu Dhabi Commercial Bank in respect of lending to the NMC Health Group.
      • Successfully defending claims brought by the Libyan Investment Authority against Walid Giahmi in respect of a US$200m investment in structured products.

      Penningtons Manches Cooper LLP

      Penningtons Manches Cooper LLP acts both for and against banks in a range of litigation, and is particularly praised for its work on misselling and misrepresentation claims against banks. The group is jointly led by Clare Arthurs, who is head of commercial dispute resolution, and Alexander Fox, who leads the business and finance disputes team. Fox is ‘an impressive combination of charming and clinical’ and takes the lead on litigation against banks; other key figures in the group include Kamran Rehman, who has ‘good commercial judgement’ and focuses on professional negligence claims in this area, and ‘tenacious and intelligent’ senior associate Charlotte Hill.

      Practice head(s):

      Clare Arthurs; Alex Fox

      Other key lawyers:

      Kamran Rehman; Charlotte Hill; Michael Brown

      Testimonials

      ‘Very client orientated and commercially astute. Good delegation occurs at all levels. Client communication is very clear and efficient’

      ‘Kamran Rehman runs a focused, down to earth, happy team that seems to take trouble to understand each client’s needs and to address them appropriately’

      ‘Prepared to go the extra mile for their clients – very good at imposing and keeping to deadlines!’

      ‘I’ve worked with Kamran Rehman. Good commercial judgement. He has a strong team under him, and he, and the firm generally are happy to take responsibility’

      ‘The team is a powerhouse in banking litigation, with a particular expertise in bringing misrepresentation and misselling claims against banks and financial institutions. The expertise spans the depths of the team.’

      ‘Alex Fox is an impressive combination of charming and clinical. He has a grasp of the legal and factual minutia which is unusual for a partner running such high value and complex litigation. Charlotte Hill is tenacious and intelligent. She runs the litigation from the front but is adept at delegating tasks efficiently and cost-effectively.’

      ‘Penningtons are a very strong team, from top to bottom. The partners are both legally adept, and strategically-minded. The associates work phenomenally hard. And the paralegals are also excellent. I highly recommend Penningtons for banking litigation.’

      ‘Alex Fox is an engaging, and engaged, partner: great at the strategy, and also on the detail. He is always happy to make the big calls himself.  Charlotte Hill is a powerhouse senior associate, and surely a partner in waiting. She is a real dynamo, full of energy and strategic vision; a formidable opponent, but a great lawyer to have in your corner.’

      Key clients

      The Consumers’ Association (t/a Which?)

      Various SMEs insured with National Farmers Union Mutual Insurance Society Ltd (“NFUM”)

      Tuset Trading Corp

      Bank of Montreal

      Hope Capital

      Social Money

      Work highlights

      • Acting for the Consumers’ Association (t/a Which?) on an intervention in the Court of Appeal case of Fiona Lorraine Philipp v Barclays Bank UK PLC.
      • Acting for an ever-growing group of SMEs in claims against National Farmers Union Mutual Insurance Society Ltd for breach of contract relating to the non-payment of business interruption claim under various policies of insurance underwritten by NFUM and arising out of the Covid-19 pandemic.
      • Acting for a lender in a professional negligence claim against a firm of valuers in relation to an overvaluation of a 15th Century Grade II* listed property in Cobham owned by the National Trust, which was used as a restaurant and was being converted into a large home, without the National Trust’s consent.

      Pinsent Masons LLP

      At Pinsent Masons LLP, the banking and litigation group’s recent workload has included representing banks in derivative misselling disputes with Italian local authorities, a prominent area of activity in banking litigation. Legal director Mike Hawthorne takes the lead on these cases, drawing on his expertise in handling claims involving over-the-counter derivatives. He is supported by senior associate Michael Reading. Hawthorne co-heads the practice with Stuart McNeill, who remains active across a broad range of banking disputes.

      Practice head(s):

      Stuart McNeill; Mike Hawthorne

      Testimonials

      ‘Mike Hawthorne is excellent on detail – real grasp of complex swap transactions and Italian law issues.’

      ‘Mike Hawthrone is very good.’

      ‘Pinsents are a major player in the heavy commercial banking and fraud space; competing effectively with the magic circle at much lower rates’

      ‘Stuart McNeill – cool-headed sensible, balanced and knowledgeable. Michael Pulford – well versed in the international market, great team manager . Andrew Barnes-Webb: Smart, on-top-of the detail, taking substantial responsibility and always delivering’

      ‘The Pinsents banking litigation team is knowledgeable and experienced, easy to communicate with and provides timely responses on drafts.’

      ‘I have found Mike Hawthorne to be experienced, thorough, competent and steeped in the legal details of many of the Italian swap dispute matters. His easy grasp of some of the more complex analyses and calculations involved in these matters has made our exchanges productive and expedient. I would highly recommend Mike and his team for any disputes or litigation in the derivative and capital markets space.’

      Key clients

      Dexia Crediop

      Banca Intesa Sanpaolo

      Work highlights

      • Acting for Dexia Crediop and Intesa Sanpaolo in a claim against the City of Venice, due for a five week trial in 2022 with a case value of EUR111 million.
      • Acting for a number of defendants, including Ukrainian businessmen and companies based in the UK and the BVI, in litigation brought by JSC Commercial Bank Privatbank in the English High Court.

      Seladore Legal

      Seladore Legal was established in February 2020 by Simon Bushell, who is currently head of the team, and Gareth Keillor, whose experience includes High Court litigation as well as arbitration. The team focuses on high-value and cross-border disputes, fraud and asset tracing, and enforcement disputes. It also counts on the expertise of Gary Milner-Moore, who joined from Herbert Smith Freehills LLP in December 2021, and Kevin Kilgour, who has acted for clients in a wide range of sectors including technology, banking and real estate development.

      Practice head(s):

      Simon Bushell

      Other key lawyers:

      Gareth Keillor; Gary Milner-Moore; Kevin Kilgour

       

      Testimonials

      ‘Small but agile and responsive; they punch above their weight.’

      ‘Great know-how within a very close-knit group garnered from the partnersprevious experience at City firms, now being deployed with great success. They have the punch of a large firm but the nimbleness of an elite unit.’

      ‘Simon Bushell – superb tactics and leadership’

      ‘Kevin Kilgour – a brilliant lawyer and litigator’

      ‘Gareth Keillor – superb lawyer’

      ‘This is a boutique litigation firm led by partners with considerable experience. They have the commercial knowledge, judgement and expertise to handle substantial commercial litigation with the energy and flexibility that a small firm team can bring.’

      Work highlights

      • Seeking English law avenues of recovery for a consortium of investors who were the victims of a sophisticated cross-border fraud carried out by an Italian individual who has since been charged with criminal wrongdoing – pursuing recovery against banks and other entities which may have enabled the fraud.
      • Acted for a major Turkish corporate operating in construction, real estate development and other areas in a dispute with one of the world’s largest investment banks concerning an alleged fraud in relation to foreign exchange trading.
      • Advising a high-net-worth Russian individual in connection with anticipated issues concerning his banking relationships arising from possible criminal charges in Russia.

      Squire Patton Boggs

      ‘Flexible and efficient managers of litigation’, Squire Patton Boggs has a varied banking disputes practice, acting for a client base including retail banks, investment managers, financial advisers, mortgage providers and private individuals. The team’s workload covers claims of fraud and breach of contract; it has also carved out a niche in professional negligence claims involving financial services professionals, representing both claimants and defendants in this space. Stephen Sampson and ‘first-rate legal thinker’ Anthony Taylor co-head the team, with Chris Webber also noted for the broad nature of his work and praised as ‘an excellent litigator who fights hard for his clients’.

      Practice head(s):

      Anthony Taylor; Stephen Sampson

      Other key lawyers:

      Chris Webber; Katherine Wakeham; Peter Lees; Paul Anderson; Christian Toms

      Testimonials

      ‘Excellent team – great strength across the board. Good industry knowledge.’

      ‘Chris Webber: an excellent litigator who fights hard for his clients, and really knows the FS industry in detail.’

      ‘Antony Taylor is very dedicated to his clients. Peter Lees is a very able director.’

      ‘Flexible and efficient managers of litigation. Excellent at dealing with difficult points of litigation strategy.’

      ‘Anthony Taylor – first-rate legal thinker and leader of litigation.’

      ‘Thoughtful and sensible litigators, who work well as a team. They know when to be aggressive and when to compromise, which makes them more effective when a tough line is required.’

      ‘Stand-out partner: Chris Webber. Has the rare ability to know the details but also see the big picture. Not a partner who delegates it all and views his role as mere relationship management – he actually takes time to get on top of the detail. It means he gets the best out of his team, because he genuinely leads from the front.’

      Key clients

      LMAX Limited

      My Bucks SA

      Manchester Building Society

      Tokushukai Inc (owner of Tokuda Bank)

      Administrators of Duet Capital (Holdings) Limited

      Robin Forster (owner of the Qualia Care group of companies)

      Gallium Fund Solutions Limited

      Independent Wealth Planners (UK) Ltd

      Maven Wealth Group Ltd

      Work highlights

      • Acted for the Manchester Building Society in a claim against its auditors, Grant Thornton alleging that Grant Thornton provided negligent and incorrect valuation advice on hedge products (SWAPS). The matter went to the Supreme Court before a seven-judge panel in the Supreme Court, with judgment handed down in 2021. Theclient won by a unanimous judgment and has recovered around £14million plus costs.
      • Defending Robin Forster (founder of the Qualia Care group) in £48 million civil restitution proceedings brought by the FCA, which alleges that our client was knowingly concerned in operating unauthorised collective investment schemes.
      • Advising Gallium Fund Solutions Limited in relation to the high-profile collapse of mini-bond provider Basset & Gold plc, resulting in £36 million of losses to investors.

      Taylor Wessing LLP

      Taylor Wessing LLP‘s ‘incredibly efficient and professional’ contentious banking group has a wide-ranging practice in this space. The department is noted for its work on insolvency-related financial disputes as well as on claims involving alleged frauds. The team is also regularly engaged on breach of contract claims involving financial institutions, particularly hedge funds, and has a growing presence in the cryptocurrency sector. The group is co-headed by Laurence Lieberman, who serves as head of contentious financial services, and Andrew Howell, who leads the overall disputes and investigations practice. Stuart Broom and Tim Strong are also active in this space.

      Practice head(s):

      Andrew Howell; Laurence Lieberman

      Testimonials

      ‘The team is incredibly efficient and professional with a strong focus on clients’ needs. They consistently produce excellent work and are very reliable.’

      ‘They are calm under pressure, provide a personalised service and have a great depth of knowledge.’

      Key clients

      Professor Russell Griggs OBE

      Joint Official Liquidators (“JOLs”) of Saad Investment Company Limited (In Liquidation)

      Grant Thornton

      MUSST Holdings v Astra Asset management

      TLT

      TLT focuses on representing banks in disputes, with experience acting for retail and wholesale banks in a broad range of litigation. It regularly acts for banks in enforcing loan facilities, with a particular specialism in handling cross-border disputes, and also defends banks against misselling and fraud claims. The team’s defendant-side work has seen practice head Clare Stothard taking the lead on mandates including derivative misselling claims. Paul Gair has a varied and international practice, and alongside his work for UK-based clients stands out for his work with Indian banks. Elsewhere, Steven Mills has practiced in this area for more than 30 years and has recently been particularly active in fraud claims, while Peter Richards-Gaskin offers experience in both litigation and regulatory disputes, including previously working in-house at a major bank. Andrew Lyon is another name to note; in addition to his work representing clients in court he also has experience handling group claims in ADR.

      Practice head(s):

      Clare Stothard

      Other key lawyers:

      Peter Richards-Gaskin; Andrew Lyon; Steven Mills; Kanika Kitchlu-Connolly; Nick Curling; Jack Hargreaves; Claire Kershaw

      Key clients

      State Bank of India

      IDBI Bank

      Punjab National Bank (International) Limited

      National Westminster Bank PLC

      Santander UK Plc

      Work highlights

      • 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. Dr Mallya is a very high profile Indian businessman who is facing extradition back to India to face criminal charges of money laundering and fraud.

      Burges Salmon LLP

      Burges Salmon LLP 's banking litigation team is led by David Hall  and stands out for its work representing clients in disputes facing financial institutions, including matters concerning facilities, derivatives and hedging, securitisations, acquisition finance, among others. The team provides advice to a client list of both domestic and international retail and investment banks and lending institutions.

      Practice head(s):

      David Hall

      Other key lawyers:

      Andrew Burnette; Caroline Brown; Hannah Miller

      Key clients

      Royal Bank of Scotland

      National Westminster Bank

      Financial Services Compensation Scheme Limited

      Work highlights

      • 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.

      DaySparkes

      DaySparkes banking litigation team is led by the ‘outstandingMichael Sparkes and ‘cleverJohn Day, and is viewed by clients to ‘punch above their weight’. It is best known for its director-led, forensic approach. It works across diverse banking dispute work, including claims involving banking fraud, alleged market abuse, securitisation disputes and crypto-currency disputes.

      Practice head(s):

      Michael Sparkes; John Day

      Other key lawyers:

      Liina Tulk; Gopi Binning

      Testimonials

      ‘Day Sparkes deliver excellent results in interesting yet difficult cases. A particular strength is the expertise in this area coupled with fantastic communication. Excellent preparation helps to ensure constructive and favourable settlement discussions and agreements at mediation.’

      ‘Michael is very good indeed. He is very clever and I have full confidence in his abilities to negotiate and plan a pathway forward.’

      ‘Collaborative approach at the senior level – sense they share ideas and work well together’

      ‘John Day – humorous and clever solicitor who likes to share ideas and listen to others’ before concluding. Michael Sparkes – impressive approach that seems to get results in mediation. Gopi Binning – works very hard. Liina Tulk – Knowledgeable and approachable.’

      ‘Excellent personal service from the partners who have a forensic knowledge of how banks work.’

      ‘DaySparkes have always brought an incredible depth of knowledge, understanding and ability to all situations. They are extremely approachable, proactive and helpful throughout.’

      ‘Michael Sparkes has always provided an extremely incisive and meticulous approach throughout all stages to achieve the most beneficial outcome. Gopi Binning also provides excellent support in all aspects of proceedings and communication from DaySparkes is first class.’

      ‘Small but effective team who really get into the detail of the case and punch above their weight.’

      Key clients

      Watchers SA

      Paul Pascoe

      Work highlights

      • Advising and representing over 40 victims of the HBOS Reading Fraud in their claims against Lloyds Banking Group for very significant damages for direct and consequential losses arising out of the destruction of their businesses.
      • Acting for  Paul Pascoe, Noel Edmonds’ former business partner in Unique Group, in relation to his £20million+ fraud claim against Lloyds Banking Group arising out of the HBOS Reading/Quayside Corporate Services fraud.
      • Advised a Belgian client (Watchers SA) on a successful application against HSBC for Norwich Pharmacal disclosure arising out of a cryptocurrency fraud.

      Foot Anstey

      Foot Anstey’s banking litigation team is led by Mark Rhys-Jones and James Gliddon. The team counts on the expertise of Steven Richards, whose ‘knowledge and experience are exceptional’. It works with a wide range of national and international bank and lender clients on the full spectrum of litigation matters.

      Practice head(s):

      Mark Rhys-Jones; James Gliddon;

      Other key lawyers:

      Steven Richards; Nick Loewendahl

       

      Testimonials

      ‘Personal service. I feel the team keep me up to date at all times. They strategically look one step ahead for pitfalls and solutions.’

      ‘Steven Richards inspires complete confidence in his clients. His knowledge and experience are exceptional and his advice is always very clear and thought through.’

      ‘A mid-sized firm which provides exceptional levels of client service’

      ‘Steven Richards has bags of experience in commercial disputes. James Gliddon offers hands on support and has a great eye for detail’

      ‘Very knowledgeable, likeable and easy to work with, great quality work and exceptionally talented individual lawyers.’

       

      Keidan Harrison

      Keidan Harrison is ‘an up-and-coming boutique firm‘ founded in 2020 by ‘stand-out practitioner’ Marc Keidan, formerly of Cooke, Young & Keidan LLP whose expertise includes banking, hedge funds and private equity related disputes, and ex-Debenhams Ottaway  solicitor advocate Luke Tucker Harrison, who has notable expertise with regards to contentious insolvency and restructuring.

      Practice head(s):

      Marc Keidan; Luke Tucker Harrison

      Testimonials

      ‘Everyone in the team has a great depth of hands-on litigation experience, they show high energy and dedication and combine this with excellent technical legal skills.’

      ‘Marc Keidan is a stand-out practitioner. He is always thinking multiple steps ahead in developing strategy for his cases and distills complex problems for his clients in a user-friendly manner. He is also a pioneer in the litigation space, constantly looking (and finding) where the next big area of work will develop.’

      ‘KH are an up-and-coming boutique firm. Marc Keidan has huge expertise in developing a small firm and he has broadened out beyond his traditional banking practice. Luke Harrison is covering the insolvency side of the market and they have recruited extremely well.’

      ‘There is real hunger from the firm when developing relationships across all levels. They recruit not just good lawyers but good business people and they fully understand the demands of each sector and the benefits of working as a team.’

      ‘Marc Keidan: he is a force of nature and great innovator. Never content just to stand still, he set up this firm just prior to Covid and lockdown. Yet, hugely energetic, enthusiastic and resourceful, he will undoubtedly make a success of this.’

      ‘Marc Keidan is a legend in the litigation arena and can more than hold his own against any solicitor in the City. Real class, with fantastic judgement.’

      ‘Luke Tucker Harrison is simply first class.’

      Key clients

      Charles Russell Gordon

      MSP Capital Limite

      Work highlights

      • Acting for the director of an asset-based lending firm following an adverse Court of Appeal judgment against the firm arising from an attempted recovery of a £50m debt due under a Tomlin Order. The work involved novel issues in respect of the litigation funding arrangements for the claim.
      • Acting for MSP Capital Ltd in respect of a substantial fraud claim against persons unknown arising from an identity fraud leading to it lending to fictitious borrowers. The claim involved early freezing orders and non-cause of action disclosure orders.

      Kingsley Napley LLP

      Kingsley Napley LLP's disputes team, which is led by Richard Foss, has a track record of work on claims against banks and other financial institutions.

      Testimonials

      ‘The team works extremely well together, they are collaborative and not hierarchical in approach. They are all good lawyers while at the same time responsive to advice given by counsel. They have particular expertise in acting with individual professionals, HNW individuals, small and medium sized generally owner managed companies. There are not really other firms that have managed to carve out such a successful niche in this space.’

      ‘Mary Young –  ever resourceful; absolutely committed. She is an excellent role model for younger associates. Good for all things banking – including international cases. Also, very experienced high stakes litigator with lots of experience obtaining freezing orders and the like. She can pluck fantastic settlements for her clients out of the air!

      ‘The team is excellent on difficult cases. All its members are prompt, conscientious and helpful. If you ask for something to be done, it is done without fuss. The team is as good as any I know.’

      ‘Fiona Simpson stands out because she is both both tough and sympathetic, and she has an excellent tactical judgement in litigation when difficult calls have to be made. And she creates a good atmosphere for everyone to work in.’

      Wallace LLP

      At Wallace LLP, the banking disputes team continues to be engaged on a number of complex, high-profile claims across both retail and investment banking. ‘Commercially astute’ solicitor advocate Alexander Weinberg serves as group head and has extensive experience acting for and against financial institutions; he frequently acts alongside senior associate Philip Blyghton, with the pair forming ‘a formidable team’. Elsewhere, solicitor advocate Oli Goldman has broad expertise across litigation relating to complex financial instruments, fraud claims and regulatory investigations.

      Practice head(s):

      Alexander Weinberg

      Other key lawyers:

      Oli Goldman; Philip Blyghton; Elizabeth Asher

      Testimonials

      ‘Great sector experience and their technical knowledge is excellent.’

      ‘Alexander Weinberg is excellent. Commercially astute and really sharp.’

      ‘Wallace have real depth and breadth in experience for a practice of their size, which enables them to take on the big financial institutions without fear or conflict.’

      ‘Alex Weinberg impresses in his strategic approach to litigating against the big financial institutions. He clearly articulates what the litigation map is likely to look like and alongside his Philip Blyghton, they make a formidable team.’

      ‘Oli Goldman and Elizabeth Asher are just great, human, responsive and so professional. The billing is transparent and consistent and the collaboration with them is easy and smooth. They are aware of the client’s needs and show proactivity.’

      ‘They listen to the needs of the client and show great empathy that I have never seen anywhere else. It’s really pleasant to work with them.’

      ‘”Tenacity” is the single word that springs to mind.’

      ‘ Philip Blyghton is a credit to the firm. Diligent and pro-active: a valuable combination.’

      Key clients

      Retail investors in the LF Woodford Equity Income Fund

      RGL Management Limited

      Mothercare UK

      Maplin Electronics

      Bathstore

      Work highlights

      • Representing a substantial group of retail investors in the LF Woodford Equity Income Fund in c. £1 billion group claims against Hargreaves Lansdown and Link Fund Solutions following the Fund’s high-profile suspension in June 2019 and subsequent announcement that it will be wound down.
      • Acting for a prominent claimant group, including a number of well-known high street retailers, in High Court claims against MasterCard and Visa in relation to the unlawful fixing of interchange fees valued in excess of £100 million.

      Zaiwalla & Co

      Zaiwalla & Co ‘s banking litigation team is led by ‘hugely experienced litigatorSarosh Zaiwalla , who has experience acting for international banking clients in complex multi-jurisdictional cases. The team handles litigation from developing/high growth economies such as India, Iran and Venezuela.

      Practice head(s):

      Sarosh Zaiwalla

      Other key lawyers:

      Kartik Mittal; Leigh Crestohl

       

      Testimonials

      ‘Zaiwalla & Co have a great team to work with and their diverse make up makes them very popular with international clients. Their litigation team is extremely capable and mission oriented.’

      ‘Leigh Crestohl: vast wealth of experience in different jurisdictions makes Leigh an extremely valuable asset in trans-national disputes.

      ‘Sarosh Zaiwalla: hugely experienced litigator who is the driving force behind the firm’s operations.’

      ‘Leigh Crestohl is a bright and imaginative lawyer’

      ‘Sarosh Zaiwalla expects outstanding standards from his staff and maintains attention to detail.’

      Key clients

      Central Bank of Venezuela

      Wanbury Limited

      Persia International Bank

      Work highlights

      • Representing the client bank who acts through its Board of Directors appointed by Venezuelan President Nicolas Maduro (Maduro Board) in relation to its dispute with the Bank of England (BOE) arising from BOE’s refusal to comply with the instructions of the BCV to facilitate the transfer of €930 million of the value of gold held in a metal’s account on its behalf by BoE to the United Nations Development Programme (UNDP).
      • Acting for Wanbury Limited, a pharmaceutical company in India, to provide advice in relation to a Deed of Variation that it intended to enter with the State Bank of India (“SBI”) to vary the terms of a settlement which the parties had previously entered to resolve a claim brought by SBI in the English Commercial Court.