Ololade Saromi > Chambers of Rachel Sleeman > London, England > Barrister Profile
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Ololade Saromi
Position
Ololade has a Commercial Chancery practice with a leaning towards banking, finance, commercial, insolvency (corporate and personal), company, and partnership disputes. He provides advice, pleadings, and representation in all of these areas. Ololade is particularly sought after in banking and finance matters and has experience in such disputes where they include allegations of fraud. He has been instructed as sole counsel in the High Court (often in the Chancery Division) and County Court, and also accepts instructions to act as counsel in arbitral proceedings.
Prior to commencing practice, Ololade obtained considerable experience of advocacy in the County Court. As such, he offers his clients advocacy experience which exceeds his years in practice. Ololade also spent a year and a half working in a tier 1 specialist litigation team at an international commercial law firm headquartered in the UK. This gives him an awareness of the commercial pressures under which his professional clients operate and sensitivity to the issues involved in managing the expectations of commercial lay clients.
Ololade is a recipient of an International Outgoing Scholarship from the Pegasus Scholarship Trust. In 2022, Ololade commenced his scholarship by undertaking a two-month secondment to the Litigation, Dispute Resolution, and Risk Management Department of Aluko & Oyebode – Nigeria’s leading commercial disputes law firm, at its offices in Lagos – the commercial heart of Nigeria. Where required, Ololade is able to bring the insight he gained and the network he developed to bear on cases for the benefit of his clients.
Banking and Finance
Ololade accepts instructions in relation to the full range of banking and finance disputes. He has recently been instructed to advise, draft, or provide advocacy in relation to:
- Secured lending disputes.
- Asset finance / finance leasing.
- Invoice finance and factoring.
- Breaches of FSMA 2000.
- Debt claims.
- Fraud.
- Payment services disputes.
- Enforcement of securities, guarantees, and indemnities.
- Consumer credit claims.
- Wrongful interference with goods / conversion.
Examples of recent and ongoing cases:
- Advising, drafting pleadings, and conducting advocacy for an international factoring company based in the USA in a $650,000 claim against one of its clients based in the UK involving issues of fraudulent misrepresentation, procurement of breach of contract, and conspiracy to injure (ongoing).
- Advising, drafting pleadings, and conducting advocacy in a $500,000 investment-related claim raising issues of undue influence, unconscionable bargain, unjust enrichment, unlawful provision of regulated activities under the Financial Markets and Services Act 2000, joint venture agreements, and recission. The claim has been set for a 7-day High Court trial to be listed in 2023 (ongoing).
- Advising, drafting pleadings, and conducting advocacy for a large asset-based lender in proceedings to recover over £100,000. The issues that arise include the determination of the governing contractual terms where there are two apparently competing contracts, the effect of redemption statements, unjust enrichment, estoppel by representation, and change of position (ongoing).
Commercial
Ololade’s recent commercial litigation experience includes instructions to advise, draft, or provide advocacy in relation to:
- Breach and interpretation of contracts.
- Undue influence.
- Misrepresentation.
- Unconscionable bargain.
- Rectification.
- Unjust enrichment and restitution.
- Joint venture.
- Limitation.
Examples of recent and ongoing cases:
- Advising, drafting pleadings, and conducting advocacy for a London Borough Council in a claim brought against it by one of its external care services providers for unpaid invoices. Successfully obtained an order setting aside a default judgment of over £100,000. The issues that arise include the identity of the parties to the governing contracts, authority of a partner to enter into deeds on behalf of a partnership, and limitation (ongoing).
- Advising, drafting pleadings, and conducting advocacy for an international factoring company based in the USA in a $650,000 claim against one of its clients based in the UK involving issues of fraudulent misrepresentation, procurement of breach of contract, and conspiracy to injure (ongoing).
- Advising, drafting pleadings, and conducting advocacy in a $500,000 investment-related claim raising issues of undue influence, unconscionable bargain, unjust enrichment, unlawful provision of regulated activities under the Financial Markets and Services Act 2000, joint venture agreements, and recission. The claim has been set for a 7-day High Court trial to be listed in 2023 (ongoing).
Insolvency
Ololade accepts all appropriate instructions, and his recent experience includes:
- Winding up and bankruptcy petitions.
- Bankruptcy annulments.
- Applications for orders for possession and sale.
- Advising in disputes relating to preferences and transactions at an undervalue.
- Advising in applications for declarations and an order for possession and sale.
- Applications to stay writs/warrants of possession.
Examples of recent and ongoing cases:
- Resisting an application to stay a warrant of possession issued pursuant to an order for possession and sale.
- Represented the trustees in bankruptcy in their application for an order for possession and sale of a property which constituted a part of the bankrupt’s estate but over which a third-party claimed to hold a long lease.
- Acted for the trustees in bankruptcy in an application to terminate the bankrupt’s spouse’s notice of home rights and to have the notice removed from the register of title for the property.
- Obtaining orders for the substituted service of bankruptcy petitions.
- Resisted an application by debtors for additional disclosure by the petitioning creditor.
- Resisted an application to set aside a statutory demand.
Company and Partnership
Ololade accepts all appropriate instructions including:
- Company restorations.
- Rectification of register.
- Breaches of directors’ duties.
- Shareholder disputes.
- Unfair prejudice petitions.
- Derivative actions.
- Partnership disputes.
Examples of recent and ongoing cases:
- Advising, drafting pleadings, and conducting advocacy for a London Borough Council in a claim brought against it by one of its external care services providers for unpaid invoices. Successfully obtained an order setting aside a default judgment of over £100,000. The issues that arise include the identity of the parties to the governing contracts, authority of a partner to enter into deeds on behalf of a partnership, and limitation (ongoing).
- Drafted company restoration proceedings.
- Represented a commercial bank in an application to rectify the particulars of a registered debenture it had taken as security for a loan.
- Advised and represented a hunting club in resisting an application for pre-action disclosure by the hunt’s supporters association. The association was attempting to prevent a merger between the hunt and another hunting club by challenging the validity of a vote at the hunt’s AGM in favour of the merger.
Career
Called 2015
Ololade is the Vice-Chair (and incoming Chair (September 2022)) of the British Nigeria Law Forum – a bilateral vehicle for the promotion of legal ideals from both jurisdictions and the fostering of mutually beneficial relationships. Ololade also sits on COMBAR’s Africa Committee, which is an initiative to develop and foster improved working relationships and promote common professional development between members of the English and Welsh Commercial Bar and their counterpart practitioners and academic lawyers in (and interested in) Africa.
Languages
Yoruba
Memberships
- Vice Chair, British Nigeria Law Forum (BNLF), 2020 – 2022.
- Committee Member, COMBAR Africa Committee, 2022 – ongoing.
- The Commercial Bar Association.
- London Common Law & Commercial Bar Association (LCLCBA).
- R3 Association of Business Recovery Professionals.
Education
BPTC, Very Competent (“Outstanding” in, amongst others, Civil Litigation, Evidence and Remedies), University of Law, Birmingham, 2015
LLB (Hons) (Law with Business Studies), University of Birmingham, 2012