Adriano Stagni

Commercial Litigation

• Representing Privinvest, a world leader in naval shipbuilding, in a USD 3.1bn high-profile, complex Commercial Court claim (now on appeal to the Court of Appeal) brought by the Republic of Mozambique against Credit Suisse, Privinvest, and others. The claim relates to supply agreements and supporting financial instruments and guarantees entered into by state-owned enterprises dedicated to the development of Mozambique’s offshore Exclusive Economic Zone and supporting international investment into its oil and gas reserves. The claim engages allegations of bribery of Mozambican government officials. An appeal on issues of sovereign immunity featured in The Lawyer’s Top 10 Appeals of 2024.  Following judgment against Privinvest (though in which most of Mozambique’s allegations failed), Privinvest obtained permission to appeal on numerous grounds, including on whether a fair trial was possible in light of established disclosure breaches by Mozambique.  The appeal is listed to be heard by the Court of Appeal in June 2026.
• Representing over 200 institutional claimants with respect to over 1,000 different funds/portfolios in a c. GBP 1.5bn group action claim against Standard Chartered involving allegations of untrue or misleading statements and omissions in information published by the Defendant to the market giving rise to claims under s90 and s90A Financial Services and Markets Act 2000.
• Representing over 130 institutional shareholders in Barclays Plc claiming over GBP 500m in losses arising out of allegations arising under s.90 and 90A FSMA. The allegations arose from misconduct arising out of Barclays’ liquidity dark pool and settlement agreements entered into between Barclays and the New York Attorney General and the Securities and Exchange Commission. This case was at the forefront of certain legal issues arising under s.90A FSMA including the issue of passive investors’ rights to pursue redress, as well as the right by shareholders to obtain inspection from the company of legally privileged documents.

Insurance and Re-insurance Disputes

• Advising an agricultural technology company on a case in Chile regarding damages caused by contaminated agricultural products.
• Advising as Co-Counsel on high-value multi-jurisdictional insurance dispute (as policyholder) involving a complex fraud scheme in the Nickel market.
• Advising reinsurers in relation to disputes with local insurers on how a matter should be defended and appropriate control and defences of the underlying litigation in Brazil regarding a public liability policy following an explosion and fire involving a coach bus which claimed the lives of numerous individuals, including several high-net-worth individuals.
• Advising international reinsurers on a series of devastating earthquakes across Mexico that destroyed invaluable treasures belonging to the Ministry of Culture and the Mexican State.
• Advising on the obligation of reinsurers to indemnify and on defending third-party claims arising from the operation of a major port in Puerto Montt in Chile, including the rights of trespassers into the port.
• Advising reinsurers on a Liquid Petroleum Gas (“LPG”) explosion and subsequent fire in Mexico.
• Represented a Brazilian insurance company in more than 200 individual claims related with termination of personal insurance.
• Advising one of the biggest Brazilian electrical companies over insurance-related topics.