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XXIV Old Buildings

Chambers of Alan Steinfeld QC

Work 020 7691 2424
Fax 0870 460 2178
Geneva, London

The Chambers

XXIV Old Buildings is a specialist commercial and chancery chambers based in London with an office in Geneva.  The members have an unrivalled reputation for their commercial and chancery work both internationally and domestically.

A leading set in Offshore; Private Client: Trusts and Probate; Commercial Litigation; Banking and Finance; Insolvency; Company and Partnership; Aviation;  Fraud: Civil; Charities; Professional Negligence, their strength and breadth of expertise can be demonstrated by the frequency of their appearance in courts of other jurisdictions, with members called to the Bars of Jersey, the BVI, Bermuda, St Vincents, the Cayman Islands, Dubai (DIFC), and other leading international financial centres such as the ADGM Abu Dhabi and the court in Astana (AIFC) in a judicial capacity. They are recognised as one of the most forward-thinking and innovative sets at the London Bar.

Work Undertaken

The calibre of XXIV Old Buildings’ practice is evidenced by the cases in which members are routinely instructed undertaking litigation, arbitration and the provision of advice across the full range of commercial and chancery work, from UK commercial litigation and insolvency work to truly international litigation and arbitration involving large-scale business disputes, fraud and asset tracing, and cross-border insolvency and restructuring; and to ‘traditional’ chancery matters such as private family trust and succession disputes. This broad base of expertise is supplemented by members’ specialist experience in fields such as hedge funds/SIVs; financial derivatives (including spread betting/CFDs); and aviation. Members are also highly experienced arbitrators and mediators. Examples of our work are set out below:

Investec Trust v Glenalla Properties Ltd and others

This claim by the liquidators for more than £180m against the former trustees of a Jersey trust raised complex issues relating to the rights of trust creditors to enforce their claims against trustees and trust assets, conflicts of laws, and unjust enrichment.

JSC Aeroflot v Berezovsky and others

Counsel acted for a Luxembourg and BVI company set up in Switzerland by Boris Berezovsky to enable Russian companies to access European and US capital markets. The case went to CoA after leading counsel successfully argued that the English court did not have jurisdiction over two other companies which were members of the group. The claim against the defendant companies collapsed and the defendants were awarded indemnity costs.

Société Générale v Goldas

Counsel succeeded in striking out claims by the bank to recover gold bullion worth $480m and obtained for their clients an inquiry as to the damage caused by wrongly maintained freezing orders. The bank failed to persuade the court that its defective attempts at service should be treated as valid.

Property Alliance Group v The Royal Bank of Scotland

Counsel acted for the claimant in one of the most advanced LIBOR fixing cases before the English CoA in 2018. The case gave rise to interesting interlocutory decisions relating to disclosure and privilege in the context of financial services.

Carlyle Capital Corporation Limited (in liquidation) and others v Conway & others

Counsel acted for the defendants in a $2 billion claim arising from a collapsed investment fund incorporated in Guernsey. It was listed as one of the top 6 offshore disputes in 2012 by The Lawyer. Judgment handed down in September 2017 dismissed all claims against the defendants.

Al Sadik v Investcorp Bank BSC and others (Cayman Islands)

The Al Sadik case has now been determined by the JCPC. It is an important decision for those involved in the investment industry and their clients.

Lord Briggs held that the investment mandate was quintessentially, a commercial agreement of a business kind, dealing with the substance of the transaction, and by reference to purpose, rather than by spelling out in minute detail every power exercisable by the Bank.

  • Practice Management & Chambers Administration: 15

Above material supplied by XXIV Old Buildings (Chambers of Alan Steinfeld QC).

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