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Stephenson Harwood

Living Wage
Work 020 7329 4422
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Beijing, Dubai, Hong Kong, London, Paris, Piraeus and 4 more

Richard Garcia

Work 020 7809 2346
Stephenson Harwood

Work Department

Commercial litigation.


Richard is an experienced commercial litigator who has worked on some of the most high profile cases of the past decade. He is regularly instructed by banks, asset managers, sovereign states and large corporates on their most complex and important cases.

Richard has a wide practice including banking and finance, asset management, corporate, insolvency, professional liability and fraud disputes. He has led major cases in each of these areas, many of which have involved cross border issues and proceedings in multiple jurisdictions, particularly in Europe and the US.

The Tchenguiz litigation, in which Richard played a leading role for many years, is one of the most complex and high profile disputes ever seen by the English courts. Stephenson Harwood was recognised for this case and awarded Litigation Team of the Year 2012 by The Lawyer and Regulatory and Litigation Firm of the Year 2012 at the British Legal Awards.

Richard has particular expertise in banking, funds and financial products disputes. Clients value his familiarity and detailed understanding of banking and asset management products and structures. His experience includes retail, private equity, hedge funds and other alternative funds as well as CDOs, SIVs, securitisations, structured products and derivatives including swaps.

The largest value cases often involve multi-faceted proceedings including freezing orders, jurisdiction challenges, appeals and complex enforcement strategies and defences. Richard has been involved in many such cases including freezing order and enforcement proceedings arising from ICC and ICSID arbitrations. Financial News listed Richard as one of the top 100 'Rising Stars' working in the European financial markets.

London: Dispute resolution

Banking litigation: investment and retail

Within: Banking litigation: investment and retail

Finance litigation is a core practice area for Stephenson Harwood, which frequently advises on matters involving litigation in multiple jurisdictions and 'combines excellent sector knowledge with a genuine litigation focus'. The 'excellent team provides very prompt responses and is very strong at analysing cases' strengths and weaknesses'. Key work included acting for Natixis in a claim against Marex Financial (an independent commodities broker and trader) and Access World Logistics (Singapore) (a Glencore-owned provider of London Metal Exchange warehousing), which involved five spot-purchase contracts (and related repo transactions) for the sale of nickel; the case is expected to produce significant implications in the context of commodity financing, particularly the use of warehouse receipts in repo and other transactions of this nature. In other matters, the group advised Commerzbank on its claims against Liquimar Tankers Management and Pauline Shippingo, which arose out of loan and guarantee documentation that contained asymmetric jurisdiction agreements. The finance co-litigation heads are Sue Millar and Edward Davis. Other recommended names are commercial litigation department head John Fordham, 'who has excellent knowledge of cases', Richard Garcia, Donna Newman and Richard Gwynne.

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Commercial litigation

Within: Commercial litigation

Stephenson Harwood's 'excellent practice is genuinely focused on litigation'. It¬†has¬†particular expertise in cases involving financial services, shareholder disputes, public international law and fraud, which are frequently¬†multi- jurisdictional. The team represented¬†Blue Power in Business List proceedings against Eni, the Italian oil and gas multinational, which are valued at over ‚ā¨1 bn; the¬†matter arose out of an oil and gas field project, including¬†a claim for breach of contractual obligations of exclusivity that arose from Eni's engagement of third parties.¬†John Fordham¬†is department head;¬†Sue Millar¬†and¬†Edward Davis¬†are co-financial litigation heads; ¬†Richard Gwynne's practice covers¬†banking and finance litigation, shareholder and joint venture disputes, and complex cross-border disputes;¬†and¬†Richard Garcia¬†has¬†particular experience of shareholder, partnership, joint venture, post-acquisition and corporate investment disputes.¬†Sean Jeffrey¬†and Andrew Myers¬†are also highly rated,¬†Kate Cordery¬†was made partner, and Guy Harper¬†and Alina Neal¬†are key senior associates.

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London: Insurance

Professional negligence

Within: Professional negligence

Stephenson Harwood‚Äôs ‚Äėexperienced team‚Äô is ‚Äėvery switched on, very able‚Äô and provides ‚Äėexcellent commercial advice‚Äô for claimants and defendants across a range of professional negligence disputes. The team is representing the National House-Building Council in a ¬£41m claim against its former auditor and tax adviser, PwC; advising Mark Weiss Limited and Mark Weiss in a $10.8m case against Sotheby's relating to the sale of a painting which is now alleged to be a forgery; and acting for Mercer, Sedgwick Noble Lowndes and Sedgwick Financial Services in a ¬£10m pensions tax negligence case arising out of the Sea Containers chapter 11 insolvency proceedings. Among the team,¬†Andrew Myers¬†is noted for property-related disputes; regulatory litigator Tony Woodcock¬†is ‚Äėexcellent‚Äô; the ‚Äėincredibly clever‚Äô Richard Garcia¬†is active in finance-related disputes; Helena Berman¬†is ‚Äėabsolutely first-rate, brings a huge amount to any case‚Äô and is active across a range of pensions, trusts, legal and tax-related cases; and recently promoted partner Kate Cordery¬†has ‚Äėplenty of energy and verve and is a clear thinker who inspires confidence‚Äô. Senior associates¬†Guy Harper¬†and Paul Hollands¬†are also recommended. Roland Foord¬†and Stephen Roberts, who is ‚Äėvery commercial, bright, is able to see the wood for the trees‚Äô and is ‚Äėnot afraid of arguing his point in the most charming of ways‚Äô, head the team.

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Legal Developments by:
Stephenson Harwood

  • Companies should plan now to minimise their pension protection levy

    The amount that pension schemes have to pay to the Pension Protection Fund (PPF) for the year 2006/07 may have increased by as much as five times the previous year's levy. Employers who ultimately bear the cost of many pension schemes will need to make plans now to ensure the levy payable for the year 2008/09 is kept to a minimum.
    - Stephenson Harwood

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