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Stewarts Law LLP

5 NEW STREET SQUARE, LONDON, EC4A 3BF, ENGLAND
Tel:
Work 020 7822 8000
Fax:
Fax 020 7822 8037
Email:
Web:
www.stewartslaw.com
Leeds, London

David Hughes

Tel:
Work +44 (0)20 7822 8188
Email:
Web:
www.stewartslaw.com/people/david-hughes/
Stewarts Law LLP

Work Department

Commercial Litigation and Fraud

Position

Partner

Expertise:

David’s experience includes advising clients on asset recoveries, enforcement proceedings, funds disputes and security enforcement. He has expertise in cases involving money laundering and other regulatory issues including capital market products, enforcement of bond structures, swaps and derivatives products. He was previously contributing editor to Butterworths Money Laundering Law.

Career

David joined Stewarts in June 2017 having previously worked as a partner at Dechert LLP. Prior to Dechert LLP David was Head of Banking and Finance Litigation at Berwin Leighton Paisner and DLA Piper.

Member

  • Law Society
  • Institute of Money Laundering Prevention Officers


London: Crime, fraud and licensing

Fraud: civil

Within: Fraud: civil

Stewarts Law LLP¬†advises on large-scale civil fraud matters with cross-border aspects. The firm is advising RAKIA, which invests the sovereign wealth of Ras Al Khaimah; in a fraud case against a former CEO and other individuals valued at $1.5b. It also continues to act for the liquidators of Kaupthing in connection with a ‚ā¨500m claim against Deutsche Bank which related to the sale of banking derivatives during the credit crunch. Clive Zietman¬†heads the team, he is supported by the ‚Äėimpressive‚Äô Sean Upson¬†who ‚Äėtypically identifies very quickly the available courses of action and then provides prompt and reliable advice as to which option is most feasible and appropriate‚Äô. Ian Gatt¬†QC joined as partner from Herbert Smith Freehills LLP¬†and David Hughes¬†joined as partner from Dechert LLP. Laura Jenkins¬†and Lucy Ward¬†were promoted to partner. Daniel Loblowitz¬†and Fiona Stewart¬†left the firm.

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London: Dispute resolution

Banking litigation: investment and retail

Within: Banking litigation: investment and retail

'A top firm for claimants and highly recommended for banking litigation', the 'smart and user-friendly' conflict-free firm¬†Stewarts Law LLP¬†is the largest litigation-only law firm in the UK and acts for some of the world‚Äôs biggest financial institutions, companies, multinational corporations and high-net-worth individuals; the team has also expanded into new areas of disputes work, such as securities litigation. The practice acts in complex, large-scale and high-value banking disputes and has significant experience of litigation funding; and the civil fraud group's work often involves complex financial instruments and structures. In a high-value, complex matter involving multiple jurisdictions, it acted for the liquidators of Kaupthing in connection with a ‚ā¨500m claim against Deutsche Bank, which arose from the sale of complex banking derivatives; and in¬†a dispute that raised fundamental questions about the duties of banks that issue Islamic corporate bonds, the team acted for both hedge funds that bought a bond and the company that issued the bond. ¬†Clive Zietman¬†is department head,¬† Marc Jones¬†'runs litigation very well', and Fiona Gillett¬†is 'a¬†very able lawyer, who has a great touch with clients'. Other key advisers are¬†¬†Sean Upson,¬†Keith Thomas,¬†Paul Brehony,¬†Ian Gatt QC¬†and¬†David Hughes¬†. Lucy Ward¬†and Laura Jenkins¬†were promoted to the partnership.¬†Elaina Bailes¬†is a key senior associate.

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Commercial litigation

Within: Commercial litigation

Stewarts Law LLP is the largest litigation-only law firm in the UK and one of the few firms able to accept instructions against banks and financial institutions as well as other major corporates. It 'provides an excellent service with able lawyers, who are ready to drop everything and get up to speed at short notice when necessary'. The practice acted for 112 institutional investors, as claimants, in seeking damages further to Tesco's admission that its earlier financial statements were overstated by at least £326m as a result of manipulation of its commercial income; the case is one of the first cases to be brought under new legislation that is designed to address serious corporate mis-statements in published statements.Clive Zietman heads the commercial litigation department and the 'ultra-responsive' Ian Gatt QC 'has a good understanding of clients' priorities'. Other highly rated advisers include Marc Jones, Fiona Gillett, Keith Thomas, Sean Upson, Paul Brehony and Andrew Hill. David Hughes was recruited from Dechert LLP, while Fiona Stewart left the firm.

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