Experience

• 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.
• Representing Renault in the NOx Diesel Emissions Group Litigation in London, proceedings of an unprecedented scale (with around 1.8 million claims issued against car manufacturers) and complexity. In an extensive liability ruling in July, the High Court rejected all claims against Renault.
• Representing over 200 institutional claimants with respect to over 1,000 different funds/portfolios in a c.GBP 1.5bn group claim against Standard Chartered Bank regarding allegations of breach of statutory obligations under s.90 and s.90A FSMA 2000. The claim relates to alleged omissions and/or misleading statements in published information arising from alleged misconduct, including breaches of Iranian sanctions. The matter generated significant Court rulings, including from the Court of Appeal, and has settled.
• Representing the investment fund of Georgian billionaire Bidzina Ivanishvili and his family in a dispute valued at USD 600m–USD 1.2bn against Credit Suisse entities for the recovery of losses arising out of mismanagement of his investment portfolio through a range of trust arrangements, which have led to criminal proceedings against the bank’s fund managers. This case involved parallel proceedings in Switzerland, Singapore, New Zealand and Bermuda.
• Representing the beneficiaries of a Panamanian Foundation in claims for losses up to USD 500m incurred due to the fraudulent mismanagement of the offshore trust structure by rogue fiduciaries. The claim included applications for interim relief (including worldwide freezing orders, asset disclosure orders and information orders) in the Caribbean, Europe and Asia, in support of an ICC arbitration seated in Panama.
• 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 the claimant in the groundbreaking GBP 50M dispute against Marks & Clerk LLP in relation to secret commissions earned from longstanding commercial referral arrangements with CPA Global. The case proceeded as a representative action under CPR 19.8 and became a leading authority on the issue of England’s ability to host group action claims CPA Global.
• Advising a group of institutional investors, in their capacity as both minority noteholders and shareholders in a private group holding company, in relation to potential claims, including unfair prejudice, arising from the conduct of the company and its majority shareholders and noteholders.