Ritwick Ghosh

Commercial Litigation

• Representing a technology innovation investment company in bringing and defending claims with the total value of USD 2bn against a multinational investment bank arising from a shareholders’ agreement between them and related to the management of subsidiaries and the valuation of a call option.
• Representing shareholders in a GBP 700m claim for damages concerning breach of fiduciary duties relating to the development of new technology for electrical vehicles.
• Representing Bugsby Property LLC, a property developer and sponsor, in the four-week trial of its c.GBP 300m Commercial Court claim against Legal & General for breach of a contract relating to Bugsby’s bid for the purchase of Kensington Olympia.
• Representing a company and its directors in defending a GBP 60m conspiracy-to-defraud and fiduciary-duty claim brought by a leading property development company arising out a joint venture for the development of a warehouse logistics site. The matter involved complex loss calculations arising out of alleged breaches of confidence and loss of opportunity.
• Representing a large group of retail investors in a ground-breaking piece of international investment litigation. It concerned breach of contract and misrepresentation claims against major life insurance companies to recover losses in excess of GBP 100m suffered from failed investment bonds. The proceedings in the Isle of Man are ongoing and are the first of their kind in that jurisdiction.
• Representing an offshore investment fund in an ongoing English High Court dispute against a law firm with a claim value of c.GBP 40m arising from investments made in a listed African insurance company.
• Representing a principal finance business in relation to disputes arising from various debt and equity investments.
• Advising a worldwide automotive manufacturer in relation to disclosure issues arising from related-party litigation.
• Representing investment funds in relation to claims against a bond trustee in respect of USD 100m loan notes following prejudicial amendments to covenants and conditions. The case involved challenging the validity of a consent solicitation process and extraordinary resolution as well as issues of regulatory capital.
• Representing a claimant in a USD 1bn dispute arising out of dealings between three prominent Ukrainian businessmen relating to interests in a large industrial concern and other assets (ranked as a ‘Top 20’ case in The Lawyer). The various claims and cross claims involved allegations of misrepresentation, deceit and conspiracy.
• Representing a professional services firm in defence of a negligence claim relating to the failure of a bank.
• Representing a leading Swiss private bank in defending a USD 1bn claim for mis-selling complex structured products. 

Insolvency & Bankruptcy Litigation

• Representing a UHNWI in defending proceedings with a claim value of c.GBP 20m brought by an investment bank in relation to a transaction with his trading business and claims under an Islamic finance arrangement. The case involved the management of English insolvency proceedings and foreign proceedings, including in relation to disclosure of assets held in an offshore trust.
• Advising a sovereign wealth fund in relation to a dispute with a joint venture partner and associated steps to wind-up an offshore entity on the ‘just and equitable’ ground.
• Representing the joint liquidators of a financial services firm on its compulsory liquidation, associated disputes and court proceedings over a number of years.
• Representing an investment fund in relation to claims for breach of contractual and fiduciary duties against a company and its directors to recover investment losses. The claims followed the administration of a counterparty trading in the UK technology sector.
• Representing victims of a large-scale fraud perpetrated in Asia in civil recovery proceedings concerning the status of the assets which had been acquired with the proceeds of fraud and are located and frozen in the UK. The value of the assets is GBP 2.75bn including cryptocurrency.
• Representing the Official Receiver and Special Managers of a listed multinational group in a claim against its former auditors for professional negligence following insolvency.

Regulatory Enforcement

• Representing an individual in a reference to the Upper Tribunal in relation to a decision notice issued by the Prudential Regulation Authority which raised issues as to fitness and propriety to perform certain regulated functions. Also advising the client on the pursuit of a complaint to the Financial Regulators Complaints Commissioner.
• Representing an individual in a reference to the Upper Tribunal challenging a Decision Notice issued by the Financial Conduct Authority prohibiting him from preforming any senior management function. The matter involves alleged misconduct in relation to a discretionary fund management business carried out through a brokerage on behalf of retail customers, with allegations that markdowns on holdings were illegitimately applied and not properly notified to customers.
• Representing an investment bank in defending an action for disclosure brought by a regulator. The case involved issues of banking secrecy under Swiss law and the management of litigation in parallel to a regulatory investigation.

International Arbitration

• Representing a sovereign wealth fund in relation to an international commercial arbitration under LCIA rules, associated English Commercial Court proceedings and regulatory investigations.
• Representing a defendant in relation to challenges in the English Commercial Court to an arbitration award under s.67 and s.68 of the Arbitration Act 1996 following an arbitration arising out of a sale and purchase agreement.
• Representing an asset management firm in LCIA arbitration proceedings brought by a counterparty for breach of contract.
• Advising the purchaser and operator of a gas terminal on an arbitration claim for breach of warranties under a sale and purchase agreement.