Firm Profile > PCB Byrne > London, England

PCB Byrne

Fraud: civil Tier 1

The April 2021 merger of PCB Litigation LLP and Byrne & Partners saw ‘two top tier boutiques join forces’ to form the market leading civil fraud practice of PCB Byrne. The firm provides broad experience in civil fraud with expertise in asset forfeiture, extradition, white-collar crime and regulatory disputes. The ‘main strength of the team is strategic approach and out of box thinking combined with the thorough understanding of client's business objectives in the case'. Anthony Riem handles fraud investigation and litigation, asset recovery, banking litigation, commercial litigation and expertise in complex cross-border disputes. He co-leads the team with Nicola Boulton, who specialises in fraud, trust and financial services disputes and cases involving freezing orders and other interlocutory injunctions; and Trevor Mascarenhas, who is known for civil fraud, asset recovery and multijurisdictional proceedings, particularly in relation to injunctive relief. Jon Felce and Natalie Todd are also key name in the team, that was further strengthened in 2021 by the arrival of cross-border disputes specialist Uliana Cooke from Allen & Overy LLP.

Practice head(s):

Anthony Riem; Trevor Mascarenhas; Nicola Boulton

Other key lawyers:

Uliana Cooke; Jon Felice; Natalie Todd; Nick Ractliff


‘The main strengh of the team is strategic approach and out of box thinking combined with the thourough understanding of client’s business objectives in the case’.

‘Anthony Riem is quick witted and shows a well-balanced approah to every task, Jon Felce is very thoughtful and creative, Natalie Todd is known for strategic thinking and client-oriented’.

‘Very flexible in considering requests from client, particularly with regard to billing arrangements. Very prompt and efficient service delivered in a client friendly manner’.

‘Jon Felce is proactive in offering innovative solutions to his clients when issues arise unexpectedly. Jon never has to be chased for a response and keeps his clients well informed of progress which is appreciated. We have complete trust and faith in Jon’s advice and his expertise, especially with regard to proceedings outside UK jurisdiction’.

‘Natalie Todd is a hard working, knowledgeable and client oriented practitioner’.

‘A very nimble team with excellent and deep skills in the sector. Huge experience in the trickiest of fraud cases’.

‘I had the pleaseure to work with PCB Byrne’s Fraud Team in several complex cross-border fraud cases involving major payments in the last year. I always found the team extremly responsive and skillful in those cases. A number of those could be resolved with the team’s assistance either on an out of court basis or at least when orders were obtained from the English Courts’.

‘I am very supportive of the ground-breaking PCB Byrne merger which sees two top tier boutiques join forces and in doing so being the first firm to enter in to a deal with a litigation funder’.

Key clients


Tatiana Akhmedova

Khalifa Almuhairi

H.E. Saeed Al Qebaisi

Deposit Guarantee Fund of Ukraine

Walid Giahmi

KMG International NV

Adenium SICAV

Andrey Petrik

Tonstate Group

Domestic & General

IFT S.A.L. Offshore

Ocorian Trustees (Jersey) Limited

Cheong Choo Young and Lorsch Ltd

Commercial litigation: mid-market Tier 2

PCB Byrne resulted from a merger between Byrne and Partners LLP and PCB Litigation LLP in April 2021. In addition to being active in the domestic litigation arena, the merged entity is also growing its workload in Asia, the Middle East, Russia and the CIS. Anthony Riem has a longstanding track record representing clients in heavyweight international disputes. He co-heads the practice with Trevor Mascarenhas, who is consistently sought out for big-ticket litigation. Nick Ractliff is experienced in civil fraud and asset recovery work, and he also acts for clients in other high-value, complex and multijurisdictional matters, such as banking litigation and shareholder claims. Also recommended are Jon Felce, who 'does what needs to be done', and Natalie Todd, who has 'excellent control of her cases'. Senior associate Rachel Turner is 'very client friendly and efficient'.

Practice head(s):

Anthony Riem; Trevor Mascarenhas

Other key lawyers:

Nick Ractliff; Jon Felce; Natalie Todd; Rachel Turner; Camilla Cook; Andrew McLeod


The team is exceptional in all aspects: from the quality of work to engagement of partners and solicitors!

All the partners are experts in their fields – master tacticians and great black letter lawyers.

Fantastic team with unparalleled experience of heavy fraud work.

Highly responsive and detail orientated – excellent value for money and nimble.

Anthony Riem does his work brilliantly – an enormously experienced litigator with great judgement and wide expertise across the full range of litigation options, as a result of substantial expertise as an international civil fraud lawyer.

Trevor Mascarenhas is an absolutely top-class lawyer, who will appraise a client’s case (as well as the opponent’s) from all angles – nothing gets past him.

Jon Felce is excellent. He is extremely responsive, all over the detail and punchy in his advice. Always willing to get in the trenches and he does what needs to be done.

Natalie Todd has excellent control of her cases and is an excellent leader, and senior associate Rachel Turner is very client friendly and efficient.’

Key clients


PJSC Ukrnafta

PJSC Phosagro

Khalifa Almuhairi

H E Saeed Al Qebaisi

Deposit Guarantee Fund

Andrey Petrik

Azzouz Group


Domestic & General

Tonstate Group

Mark Holyoake

Vadim Kargin

Walid Giahmi

Dmitri Tsvetkov

Fraud: white-collar crime (advice to individuals) Tier 2

Litigation boutique PCB Byrne is the result of a merger between Byrne & Partners LLP and PCB Litigation LLP in April 2021. Senior partner Michael Potts and managing partner Sara Teasdale jointly lead the department, which is praised by clients for having ‘a clear vision of the best strategy to adopt in cases’. The team is regularly retained by individuals for bribery and corruption, serious fraud, money laundering and other investigations by the SFO, FCA, HMRC, CMA and other agencies. The practice is well versed in navigating multi-jurisdictional proceedings conducted by prosecution and regulatory authorities across Europe, Africa and the US; Matthew Frankland has over two decades of experience in the field. Emma Brooks is noted for her niche expertise in City-focused fraud matters.

Practice head(s):

Sara Teasdale; Michael Potts

Other key lawyers:

Matthew Frankland; Emma Brooks


‘We have worked with the firm on white-collar crime cases. It has very strong expertise in this field. They are involved in the major cases, which allows them to have a clear vision of the best strategy to adopt in cases.’

‘A great all-round team, with quality in depth.’

‘I have been very highly impressed with the team.  They are extremely skilled solicitors with a deep knowledge of the particularities of SFO investigations and prosecutions. They skilfully guide clients through complex investigations, even when they include some remarkably sticky complications. They are always professional and, more than that, a real pleasure to work with.’

‘Matthew Frankland is the City’s best fraud defence lawyer bar none. He has second sight when it comes to strategy. Frankly, he gets the best results I have ever seen for his clients. He puts himself on the line for each and every one.’

‘Sara Teasdale is excellent; poised, clever, funny, charming. Strategic and clever.’

‘Mike Potts is an astute and dedicated lawyer. His extensive knowledge and experience in this type of case allowed us to benefit from his excellent analytical skills and defence strategies. He has excellent knowledge of the judicial system and the functioning of an SFO investigation, which has been crucial in our case. His good understanding of international legal systems was also of great help, in particular with regard to the investigations conducted by the US Department of Justice.’

‘Sara Teasdale and Matthew Frankland are the standout partners for white collar crime. Both have stellar practices.’

‘Emma Brooks’ legal acuity stands out from that of her competitors. Coupled with a natural charm and ease of working style, she instils complete confidence.’

Key clients

Senior KBR Executive in Unaoil investigation

Packpost International

Soma Oil & Gas

Banking litigation: investment and retail Tier 5

PCB Byrne‘s banking litigation practice was strengthened by the merger of PCB and Byrne & Partners in March 2021 and counts fraud-related banking disputes, enforcement and insolvency litigation. The merger follows the acquisition by litigation funder Burford Capital of an equity stake in legacy firm PCB, this increased options for banking clients to pursue enforcement of non-performing loans. The group attracts praise for having ‘exceptionally good lawyers at every level‘ including managing partner and ‘great tacticianAnthony Riem, the ‘outstandingTrevor Mascarenhas, Nick Ractliff, ‘excellent lawyerJon Felce, Natalie Todd and recently promoted partner Priyanka Kapoo.

Practice head(s):

Anthony Riem; Jon Felce

Other key lawyers:

Trevor Mascarenhas; Nick Ractliff; Jon Felce; Natalie Todd;


Exceptionally good lawyers at every level – partners and associates. This boutique firm holds its own against much larger magic firms.

Trevor Mascarenhas: He is extremely clever, has an encyclopaedic knowledge of fraud case law, and is an excellent strategist. Jon Felce: He has a great legal mind and an eye for detail. Natalie Todd: She is a junior partner who is one to watch. Great management of the case team and extremely good at telling the client how it is.

I am very supportive of the ground-breaking PCB Byrne merger which sees two top tier boutiques join forces and in doing so being the first firm to enter in to a deal with a litigation funder.

Tony Riem – enormously experienced and client-driven. Sound judgment and tenacity to get the best result. Trevor Mascarenhas – an outstanding lawyer with a rare ability to see all the angles.’

Superb partner-led firm; very commercial in outlook with all the advantages of litigation boutique – means that they have real expertise across the firm. They work very well as a partner-led firm in tandem with the Bar. Despite their merger and expansion they remain a partner-led firm, which means that client get the experience and expertise directly in all cases.’

Natalie Todd is personable, professional and user friendly. Trevor Mascarenhas is great on strategy and tends to be a few steps ahead of the pack.’

PCB are a boutique litigation outfit who regularly punch above their weight. They have been recognised as a leading firm in civil fraud matters for a number of years, having been involved a number of high-profile cases. They also perform well in banking and finance disputes, particularly those with a CIS dimension.

Jon Felce – an excellent lawyer, is headed for the very top. Anthony Riem – very experienced litigator and great tactician. Natalie Todd – great to work with, always on top of the detail. Trevor Mascarenhas – a brilliant legal mind.’

Key clients


H.E. Saeed Al Qesaibi

IFT S.A.L. Offshore

Adenium SICAV

Dematic Logistics

This leading firm specialises in high value and complex commercial disputes across multiple jurisdictions. We have particular expertise in civil fraud and asset recovery, insolvency, white collar crime and investigations. PCB Byrne has won numerous landmark decisions and has a stellar track record of winning difficult cases.

Clients seek us out for our (i) creativity in solving problems, (ii) expertise and strategic oversight in managing global disputes, (iii) hands-on involvement by partners from start to finish, (iv) strong-minded, commercial approach, (v) complete dedication in fighting their corner, and (vi) legal financing solutions.

The types of work undertaken by the firm include the following:

Banking and financial services litigation: PCB Byrne is a conflict-free firm, which, unlike the majority of prominent City dispute resolution departments, is able to act against all of the major UK banks. At the same time, we are able to draw upon our experience of acting for large foreign banks, for whom we have acted extensively in fraud and global asset recovery cases, leading to us being described by The Times as “solicitors to the banking community”.

Claimant fraud and asset recovery: PCB Byrne provides a world-class team of lawyers with decades of expertise working together in substantial and complex international fraud and asset recovery cases. We come up with creative solutions, and work at the great speed that is required for these cases. Our experience in building cases, and in tackling structures and other hurdles put in the way of enforcement, enables us to obtain recoveries for our clients. We regularly act for financial institutions, state-owned banks, state bodies, multi-national corporations and high-net-worth individuals in tackling some of the most challenging cases. We provide insight, strategy and a seamless cross-border approach.

Commercial litigation: We have a wealth of experience in dealing with high-value, complex and heavily contested commercial litigation cases. A number of our cases have been selected over the years by The Lawyer as being in their top 20. Most of our cases are international in scope, where main or ancillary proceedings may be taking place in other jurisdictions. There may be also issues of jurisdiction or the application of foreign law. Types of claim vary from supply chain disputes, to shareholder and joint venture disputes, and professional negligence claims.

Fraud defence: PCB Byrne is renowned for its expertise in defending clients faced with allegations of deceit, conspiracy, breach of fiduciary duty and other allegations of dishonesty, unjust conduct and unconscionability. We have also acted for numerous defendants faced with allegations of fraud, and who are often also faced with freezing orders and other interim relief and committal proceedings. Those defendants may have been put “on the back foot” early in the process, and often feel that the court is against them in making various, sometimes draconian, orders. We look at how to put the client “on the front foot”.

Insolvency and restructuring: We have dealt with some of the largest insolvency cases in the English courts of recent years. Our experience includes, (i) advising creditors on options available to them in respect of distressed debt, (ii) advising directors and stakeholders on their options in the twilight of an insolvency, (iii) advising insolvency practitioners, directors, creditors and stakeholders in relation to all insolvency processes, (iv) receiverships, (v) mediation in relation to insolvency disputes, and (vi) restoration of dissolved companies.

International arbitration: We act for clients in large-scale arbitrations governed under various arbitration rules and ad hoc commercial arbitrations. Our clients benefit from our in-depth legal analysis, industry knowledge and strategy in building and presenting the facts. We are recognised for our expertise in obtaining interim relief from Courts in support of the arbitrations. PCB Byrne has been instructed in relation to a number of domestic and international arbitrations, both ad hoc arbitrations and arbitrations under various institutional rules. In 2019, one of the firm’s partners received the Client Choice Award for arbitration and ADR.

White-collar crime and investigations: Lawyers to multinational companies, international organisations, financial institutions, senior officers and directors, sovereign states and high-ranking public officials, and in-house counsel, we work across jurisdictions advising on all areas connected with bribery and corruption, economic sanctions, money laundering, terrorist financing and fraud. Our extensive disputes experience allows us to provide clients with strategic advice to address the legal, procedural, operational and reputational aspects of regulatory issues and investigations. We offer services in all areas of financial crime: anti-bribery and corruption, anti-money laundering, sanctions, investigations and fraud.

Department Name Email Telephone
Senior partner Anthony Riem 020 7842 1616
Managing partner Sara Teasdale 020 7842 1616
Photo Name Position Profile
 Nicola Boulton  photo Nicola Boulton One of the founding partners and the senior partner of Byrne and…
 Emma Brooks  photo Emma Brooks Partner specialising in the defence of corporate fraud, business crime and regulatory…
 Ben Davies  photo Ben Davies Ben Davies is a commercial litigation partner at PCB Byrne LLP – a specialist disputes…
 Matthew Frankland  photo Matthew Frankland Founding partner at Byrne and Partners specialising in the defence of national…
 Michael Potts  photo Michael Potts Michael specialises in the defence of business crime and regulatory investigations and prosecutions.…
 Elizabeth Seborg  photo Elizabeth Seborg Elizabeth Seborg is a partner in the commercial litigation department at Byrne and…
 Sara Teasdale  photo Sara Teasdale Sara Teasdale has consistently been involved in some of the most high…
Number of UK partners : 13
Number of other UK fee-earners : 33
English (fluent)
Chinese (Mandarin and Cantonese)
Sign Language
ICC Fraudnet