Ms Elspeth Talbot Rice KC > Chambers of Elspeth Talbot Rice KC > London, England > Barrister Profile

Crossing over with the set’s reputation for Chancery work, XXIV Old Buildings is known for its ‘great strength’ in the partnership area, handling a full spectrum of partnership law in farming, legal and finance both domestically and abroad. Elspeth Talbot Rice KC and Alan Steinfeld KC are two silks active in partnership work, while turning to the set’s juniors Helen Galley and Hugh Miall  are noted for their practice covering traditional partnerships, LLPs and joint ventures.

XXIV Old Buildings is a ‘well-known and reputable set with exceptional offering for contentious trust and estates work’. Elspeth Talbot Rice KC is a ‘robust and client-friendly advocate’ – she appeared in the Bermudian Wong v Grand View case before the Judicial Committee of the Privy Council regarding the powers of trustees, stemming from disagreements within the family of the founders of Formosa Plastics Corporation; before the same forum David Brownbill KC represented the claimants in Perry v Lopag, who seek to challenge the transfer of a Caymanian company into a Liechtenstein trust on the basis that the settlor made a mistake regarding the rights of the beneficiaries under Liechtenstein law, which changed in a way unfavourable to them. Edward Cumming KC represents the children of Monty Python star Terry Jones in a trust and probate dispute with his second wife. Turning to the set’s juniors, Owen Curry successfully represented a man who applied under the Relief From Forfeiture Act 1982 after admitting being convicted of the manslaughter on the grounds of diminished responsibility of his wife. Adam Cloherty KC was appointed silk in 2023.

XXIV Old Buildings is ‘the supreme set for trust and commercial work and anything offshore, with an excellent roster of counsel at all levels’. The set has built a solid reputation for company law work, which typically arises from its highly regarded practices in Chancery and offshore matters. Head of chambers Elspeth Talbot Rice KC remains a standout silk for domestic and cross-border company matters. Stephen Moverley Smith KC’s highlights include long-running case Re Genmar Resources Ltd, concerning winding up and unfair prejudice claims in relation to an oil trading business, with allegations of asset misappropriation. Stuart Adair remains a standout junior in this field, his recent work including unfair prejudice proceedings for the claimant in Excess Reserves Limited v Patel and others.

‘A leading commercial and Chancery set with a strong offshore presence‘, XXIV Old Buildings consistently acts in high-stakes commercial disputes occurring throughout the world; and in addition to the set’s enviable international arbitration, insolvency and civil fraud credentials, clients additionally benefit from members’ complementary specialisms in partnership, trusts, professional negligence and aviation law.  Highlights include Elspeth Talbot Rice KC acting for the ninth, tenth and eleventh defendants in a proprietary claim to the assets of Russian oligarch Boris Berezovsky’s insolvent estate. In The Public Institution for Social Security v Al Rajaan, Francis Tregear KC represents a Swiss investment bank in relation to a claim for over $800m that alleges bribery and money laundering against a former investment manager and several international banks and intermediaries. In March 2023, Adam Cloherty KC, who recently acted for the claimant in Akers and others v Samba, a large-value case against a Saudi bank that raised fundamental issues on whether a common law trust can be created over civil law assets, took silk.

‘A go-to chambers for civil fraud work involving complex, multi-jurisdictional disputes‘, XXIV Old Buildings also has a consistent flow of domestic fraud work, and is widely esteemed for its expertise in trusts and insolvency-related civil fraud matters. Elspeth Talbot Rice KC is currently acting in a claim that funds were stripped out of a company to render it judgment-proof; and in an important decision on the principles to apply in determining a forum challenge involving foreign law expert evidence, Stephen Moverley Smith KC represented various defendants in a claim to recover $50m of alleged bribes that were paid to an agro-chemical company’s chief executive. At the senior junior end of chambers, Stuart Adair is defending an individual who is alleged by the claimants to have induced them to invest in start-up technology company, Seed Media, by making multiple fraudulent misrepresentations.

XXIV Old Buildings deals with domestic and international insolvency and restructuring cases, with members such as Elspeth Talbot Rice KC instructed on high profile liquidations and insolvencies such as the case of Gorbunova v Berezovsky where she acted for the trustees in the bankruptcy of Boris Berezovsky’s insolvent estate agent against which estate a proprietary, and other, claims are being made by the former partner of the Russian businessman, who died in suspicious circumstances in Berkshire in 2013. Stephen Moverley Smith KC and Francis Tregear KC are noted for their cross-border practice, often being instructed by clients in the Cayman Islands.

‘Pre-eminent Chancery set’ XXIV Old Buildings offers clients a ‘deep bench with consistently high quality’ and demonstrable expertise in offshore jurisdictions including Gibraltar, Bermuda, BVI, Cayman Islands and the Crown Dependencies. Corporate and commercial matters, trust related work and financial based cases are among the core pillars of the set’s offshore offering. Steven Thompson KC was retained for an appeal heard in December 2022 in  Ivanishvili v Credit Suisse (Bermuda) Ltd. The case involves a claim by the ex-prime minister of Georgia against a subsidiary of the Swiss bank arising out of the allegedly fraudulent actions of a rogue employee; the bank was ordered to pay over US$600m in damages by the Bermudian court. Head of chambers and in-demand silk Elspeth Talbot Rice KC is very well-known for her broad commercial Chancery practice, appearing in the Isle of Man, Gibraltar, Bermuda and the Cayman Islands, among others. Elsewhere within chambers, offshore commercial cases are a core specialism of Stephen Moverley Smith KC with his practice emphasising restructuring, fraud, corruption and insolvency.