Mr Stephen Moverley Smith KC KC > Chambers of Elspeth Talbot Rice KC > London, England > Barrister Profile

Barristers at XXIV Old Buildings are regularly instructed to act for and against a range of clients, including commercial lenders, payment service providers, banks and financial institutions including the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). Members act on cases related to financial matters such as mis-selling of financial products and structured investment vehicle work, with Edward Cumming KC experienced in banking and financial services disputes, both in retail and commercial. Stephen Moverley Smith KC specialises in fund and financial services work, both domestically and internationally. Oliver Assersohn KC was called as a silk earlier in 2024, and Alex Peplow is a name for the future.

At XXIV Old Buildings, ‘counsel are of an extremely high calibre‘, and clients remark on chambers’ ‘extremely complementary blend of private wealth, offshore, corporate and commercial expertise, which is well suited to heavyweight litigation‘. Shareholder disputes, often involving allegations of fraud, form the backbone of the set’s practice. Stephen Moverley Smith KC  continues to handle a high volume of prominent, high-profile company law cases, often involving international elements. Elspeth Talbot Rice KC is a ‘confident and experienced‘ silk, with a solid track record in advising on unfair prejudice claims and breach of duty issues. Stuart Adair is well versed in handling claims against directors and directors’ disqualification matters.

With an ‘excellent stable of civil fraud barristers’, XXIV Old Buildings offers representation on a variety of civil fraud claims, including asset tracing, misappropriation of funds, and the worldwide enforcement of awards. The set is particularly recognised for its expertise in offshore litigation. Stephen Moverley Smith KC, Steven Thompson KC and Ben Waistell acted for the defendant life insurance company in Ivanishvili v Credit Suisse Life (Bermuda), a claim by the former Prime Minister of Georgia concerning the allegedly fraudulent actions of a rogue employee. Stuart Adair is appearing in McCarthy v Marshall, where the claimant alleges that the defendant fraudulently breached fiduciary duties by misappropriating and misapplying company assets, leading to the subsequent liquidation of their meat trading and importation business Emerald Meats (London) Limited. In Public Institution for Social Security v Al Rajaan, a case involving claims of over $800m alleging bribery and money laundering by the former director general and various international banks, Francis Tregear KC represents Banque Mirabaud SA.

XXIV Old Buildings is sought after by clients to handle work originating from Gibraltar, Bermuda, BVI, the Cayman Islands, and the Crown Dependencies. Stephen Moverley Smith KC is a key silk at the set and has appeared before the Supreme Court of the Bahamas, the Bermuda Court of Appeal, the Eastern Caribbean Supreme Court, and the Privy Council, and has recently been acting alongside Francis Tregear KC for the trust beneficiaries in a case concerning the division of a trust into several, and the related opposition application. Tregear KC is called to the Bar of the Eastern Caribbean, as is Elspeth Talbot Rice KC, who continues to act for the appellants in the Wong v Grand View case, which concerns the validity and transfer of five purpose trusts, as well as the related use of powers of addition and exclusion. Among the set’s strong bench of juniors, Nicole Langlois is dual qualified to act in England and Jersey, and Bajul Shah is notable for his trust disputes work; he represented the defendant in Pilatus (PTC) Limited v RBC Trutsees (Guernsey) Limited, which concerns a breach of trust claim following the resignation of the trustee. Andrew Holden is another key junior at the set.

The members of XXIV Old Buildings are well-equipped to handle corporate, commercial, and finance-based disputes, including fraud and insolvency matters, before the courts of Gibraltar, Bermuda, BVI, the Cayman Islands, and the Crown Dependencies, including Jersey and Guernsey. Stephen Moverley Smith KC specialises in restructuring, fraud, and insolvency work, as well as cases surrounding allegations of corruption. He represented the successful respondent in the Cayman Court of Appeal in a case which saw, for the first time, an appellant decision confirming the jurisdictional power and scope of the Grand Court when considering injunctions in support of foreign arbitrations (Minsheng Vocational Education Company Limited v Lead Education Holding Limited and Others). Francis Tregear KC has recently been active in major liquidation cases in Cayman, and David Brownbill KC is skilled in fraud and asset recovery claims. He is representing the defendant in the Gibraltar-based case of Ambra and Others v Fiman Limited and Others, which concerns allegations of breaches of statutory, fiduciary, and tortious duties which are said to have caused substantial losses to several offshore companies. International disputes specialist Steven Thompson KC is active in the BVI, where he has appeared before the Court of Appeal and Privy Council. A key junior, Bajul Shah boasts company, commercial, and insolvency expertise.