XXIV Old Buildings is well-versed across a wide array of insolvency matters, be they contentious or non-contentious, across multiple jurisdictions. Chambers’ members appear in cases raising issues of civil fraud and insolvencies in the aviation sector. Going to the Privy Council, Stephen Moverley Smith KC acted in Wide v Stefanovich, a recovery claim relating to a Ponzi scheme that raised the issue of who may challenge the decision of a liquidator to admit a proof of debt. Edward Cumming KC is currently representing the trustee of a Guernsey trust in the Public Institution for Social Security v Al-Rajaan case against the estate of the former director general of a Kuwaiti public institution, who was accused of dishonestly diverting over $1bn from the institution. Stuart Adair acts on a long-running dispute between two former business partners of a meat trading business in which the opponent is accused to have fraudulently misappropriated assets.
Legal 500 Editorial commentary
Profile
Position
Stuart has an extremely successful commercial chancery practice which focuses on commercial litigation, company law, insolvency, fraud, breach of trust and asset tracing. He is a specialist advocate who is particularly effective in the context of highly contentious litigation. It is here that his excellent cross-examination skills prove most valuable and effective.
Stuart is recommended by Chambers & Partners and Legal 500 for his work in the field of company law. He practises in all areas of contentious company law, but has particular expertise in relation to minority shareholder actions (including unfair prejudice petitions and derivative claims) and claims against directors. He was one of the authors of Blackstone's Guide to the Companies Act 2006 (he wrote the chapter on derivative claims) and has lectured extensively on company law. He gave expert evidence on English company law in derivative proceedings brought against the directors of BP in the United States.
Stuart is also recommended for his work in the field of insolvency, where his expertise extends to all areas of corporate and personal insolvency. In addition to acting for private clients in this area, he has advised the DTI and appeared in the High Court and before Insolvency Practitioners Tribunals on behalf of the Insolvency Service. Stuart has particular expertise in the most contentious areas of insolvency litigation, including fraudulent trading, misfeasance and setting aside prior transactions.
Stuart’s impressive court room skills are balanced by a clear understanding of the business context of litigation and the commercial imperatives of his clients. In addition to appearing in the English courts, Stuart has been called to the bar of the British Virgin Islands and regularly appears in international arbitrations.
Career
Prior to the Bar Stuart served for 10 years as a British Army officer; called 1995, Inner Temple; co-author of Blackstone’s ‘Guide to the Companies Act 2006’.
Languages
French (fluent).
Memberships
- Bar of The Eastern Caribbean Supreme Court,
- ChBA (The Chancery Bar Association),
- Insolvency Lawyers Association,
- Subscriber to R3.
Education
- LLB Exeter,
- Royal Military Academy Sandhurst
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Testimonials
Collated independently by Legal 500 research team.
- ‘Stuart is one of the best advocates, really fighting your corner on highly contentious matters. He is extremely reliable and delivers to deadlines.’