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Giles Richardson

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Giles Richardson

Areas of Expertise

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Year of Call: 1997 grichardson@serlecourt.co.uk

Overview

Giles’ practice encompasses a wide range of commercial and chancery disputes, both led and unled, as well as both on-shore and off-shore (especially in the Channel Isles and the Caribbean). Much of his work has an international dimension and he is both used to and enjoys working as part of a team with solicitors and others.

He is a top ranked junior for Offshore work in the 2014 edition of Chambers & Partners and Chambers Global, described as "a prominent name in many of the traditional offshore jurisdictions (2014) and an "incredibly talented junior...when it comes to offshore work" (2013); as well as for Traditional and commercial Chancery work where he "handles very difficult things and produces excellent results". He is also recommended in Legal 500 2014 for both Private Client: Trusts and Probate ("fearsomely bright, very commercial and very easy to get on with") and for Company law ("Always on the money. His opinions and input are invariably right").

The Citywealth Leaders List 2013 described him as "one of the foremost senior juniors in the English Bar specialising in contentious trusts and estates".

Areas of Expertise and Cases


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Trusts and Probate

Re EAIC [2014] WTLR57: instructed by Clifford Chance on behalf of joint adminstrators from KPMG of schemes of arrangement dealing with an insolvent insurance company who were also the trustees of a c.£20m trust fund held for the benefit of its policy holders.  The trustees faced a real issue with their ability under the trust instrument to make payments to entitled policy holders in a commercially sensible and efficient manner.  A claim was therefore made in the High Court for, effectively, a variation of the trust under s.57 of the Trustee Act 1925 to permit payments to be made, relying on a novel approach to s.57 and dependent on actuarial advice.  The claim succeeded.

A Ltd v B and others [2013] JRC075: instructed to advise and provide an Opinion for production before the Royal Court by the Qualified Member of a Jersey foundation in the first (reported) decision on the ambit of appropriate directions obtainable by a council member or foundation. The Court noted ([16]) that his Opinion was a "very clear and helpful opinion from which we have drawn extensively for the purposes of this judgment".

Barclays Wealth Trustees (Jersey) Ltd v Equity Trust (Jersey) Limited: acting in proceedings against the former trustee of unit trusts investing in Eastern European property developments for alleged breaches of trust and significant losses arising therefrom.

Emerald Bay Worldwide Limited v Barclays Wealth (Guernsey Judgment 16/2013) : instructed on the trial in Guernsey of a US$8m by a BVI company held within a Jersey law trust against its Guernsey incorporated former directors for breach of duties of care and skill in relation to the acquisition of a jet airplane, raising a number of significant BVI company law issues, including its regime as to the indemnification of directors.

Walker v Egerton-Vernon and others: instructed on behalf of a personal trustee of the family trust of late Jack Walker (former Blackburn Rovers' chairman) in proceedings commenced against him and other trustees by beneficiaries in Jersey, following Jack Walker's death, involving breach of trust allegations concerning investment in Flybe and distributions to Blackburn Rovers football club.

Pearson v Lehman Brothers Finance SA and others [2010] EWHC 2914 (Ch.): advising and appearing at trial arising from the collapse of Lehman Brothers, acting for principal US Lehman entities in relation to funds held within the Lehman estate in London, in claims giving rise to important issues as to the trust principles applicable to intermediated securities.

Lexingville Investments Ltd v BNP Paribas Securities Services SA: proceedings against BNP Paribas for alleged breaches of custodianship duties owed to it in dealing with client securities.

Re Internine Trust, Alhamrani v Alhamrani [2007] JRC026: instructed by Clifford Chance (London) and Mourant de Feu & Jeune (Jersey) on behalf JP Morgan (Jersey) Trust Company as trustee in major litigation brought by Saudi beneficiaries. The trial, which commenced on 17 November 2008 and lasted nine months until settlement was achieved, was the longest ever held in Jersey.

Re the VR Trust: instructed on behalf of the trustees of a substantial trust arising from mining interests with South African beneficiaries engaged in disputes with the Protector of the trust and with companies controlled by him.

Minwalla v Minwalla: instructed on behalf of the beneficiary of Jersey trust seeking to enforce a major English ancillary relief award against the trust’s assets in the face of continuing hostility from the former husband and claims advanced by the Government of Pakistan.

Barker v Royal Bank of Canada: defending a retired trustee from breach of duty allegations in relation to investment directions.

Westminster City Council v Dame Shirley Porter: instructed on behalf of beneficiaries of a number of family trusts in relation to proceedings focused Guernsey and the BVI which sought to attack a number of trusts on the basis of allegations of sham and that the trusts were established with the intention of defrauding creditors.


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Company

F G Hemisphere v Gecamines [2012] UKPC 27: instructed to act in the Privy Council appeal of a Congolese state owned mining company seeking to resist enforcement by a U.S. distressed debt fund of state debts against c.US$120m of its assets arising from a Jersey joint venture vehicle.

Raffiesenlandesbank v Maxfold LLP and others: instructed on behalf of the corporate directors of English LLPs and of the foreign directors of those corporate directors in a fraud action brought against them by an Austrian Bank alleging their complicity in that fraud, in which the LLPs were allegedly used as conduits to facilitate the extraction of €1.4m from the bank. The claim raised complex and interesting issues of company law and the effects of incorporation as to the extent to which an (allegedly) defrauded party can proceed directly against the officers of such alleged conduits in a fraud (and indeed against the officers of such officers) rather than having to collapse the structure through liquidations.

Emerald Bay Worldwide Limited v Barclays Wealth (Guernsey Judgment 16/2013) : instructed on the trial on appeal in Guernsey of a US$8m by a BVI company held within a Jersey law trust against its Guernsey incorporated former directors for breach of duties of care and skill in relation to the acquisition of a jet airplane, raising a number of significant BVI company law issues, including its regime as to the indemnification of directors.

Walker v Egerton-Vernon and others: instructed on behalf of a personal trustee of the family trust of late Jack Walker (former Blackburn Rovers' chairman) in proceedings commenced against him and other trustees by beneficiaries in Jersey, following Jack Walker's death, involving breach of trust allegations concerning investment in Flybe and distributions to Blackburn Rovers football club.

Belgravia Financial Services Group v First Vanguard: instructed on behalf of Hong Kong based directors and investors in a complex international company law dispute involving allegation of fraud and breach of fiduciary duty.


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Commercial Litigation

First Peninsula Trustees Limited v Picard & others: instructed to act for the trustees of B.V.I. settlements which received substantial sums from Madoff feeder funds in relation to claims brought by the principal Madoff office holder in New York and in London.

F G Hemisphere v Gecamines [2012] UKPC 27: instructed to act in the Privy Council appeal of a Congolese state owned mining company seeking to resist enforcement by a U.S. distressed debt fund of state debts against c.US$120m of its assets arising from a Jersey joint venture vehicle.

Pearson v Lehman Brothers Finance SA and others [2010] EWHC 2914 (Ch.): advising and appearing at trial arising from the collapse of Lehman Brothers, acting for principal US Lehman entities in relation to funds held within the Lehman estate in London, in claims giving rise to important issues as to the trust principles applicable to intermediated securities.

Lexingville Investments Ltd v BNP Paribas Securities Services SA: proceedings against BNP Paribas for alleged breaches of custodianship duties owed to it in dealing with client securities.


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Civil Fraud

First Peninsula Trustees Limited v Picard & others: instructed to act for the trustees of B.V.I. settlements which received substantial sums from Madoff feeder funds in relation to claims brought by the principal Madoff office holder in New York and in London.

Raffiesenlandesbank v Maxfold LLP and others: instructed on behalf of the corporate directors of English LLPs and of the foreign directors of those corporate directors in a fraud action brought against them by an Austrian Bank alleging their complicity in that fraud, in which the LLPs were allegedly used as conduits to facilitate the extraction of €1.4m from the bank. The claim raised complex and interesting issues of company law and the effects of incorporation as to the extent to which an (allegedly) defrauded party can proceed directly against the officers of such alleged conduits in a fraud (and indeed against the officers of such officers) rather than having to collapse the structure through liquidations.

Minwalla v Minwalla: instructed on behalf of the beneficiary of Jersey trust seeking to enforce a major English ancillary relief award against the trust’s assets in the face of continuing hostility from the former husband and claims advanced by the Government of Pakistan.






All Quotes

"Giles Richardson is a pleasure to work with.  He has an impressively incisive mind and always cuts to the quick offering imaginative and well thought out solutions.  He is also very responsive and great with clients." - Citywealth Leaders List 2016

"Very clever, really great to deal with.  He is commercial.  We had a difficult meeting involving several silks and he brought everyone back on point.  He is doing the bulk of the work", "He is just very good.  His advice is clear.  He is personable and good in a team.  He is very commercially minded, and very clever." - Chambers High Net Worth 2016

"For a number of years Giles has been on my very short shortlist of junior counsel for commercial chancery matters. Clever, quick, efficient, commercial, available and affable, he adds considerable weight to any team and is a delight to work with. I have worked with Giles on a range of trust related matters, from a very substantial breach of trust claim worth over £100 million to a small but complex contentious administrative application, and found him equally adept in dealing with all. He is not only excellent on technical trust law points, but is also a valuable sounding board when it comes to strategic decisions. He is equally well liked by and a first choice of my fellow partners working in this area. I would have no reservation in recommending Giles to my clients or, indeed, anybody else." - City Wealth Leaders List 2015

"He is incredibly user-friendly and hard-working." "He has excellent knowledge of the law and is good tactically. Clients love him." - Chambers Global 2015

"He is very commercial and able to convert the esoteric into the everyday. You always feel like he has got it bang on right." - Chambers Global 2015

"Always on the money. His opinions and input are invariably right" - Legal 500 2014

"... a very clear and persuasive advocate..." - Chambers Global 2014

"incredibly bright, works hard and is available to clients 24/7" - Chambers & Partners 2014

"incredibly talented junior" - Chambers & Partners 2013

"handles very difficult things and produces excellent results" - Chambers & Partners 2013

"Commentators 'can't speak highly enough' whom they find 'accessible and user friendly'. His 'classy' contentious trusts and commercial chancery practice often takes him to off-shore jurisdictions. 'Years ahead of his call', everything one client saw from him was 'gilt-edged'." - Chambers & Partners 2012

Recommendations

Chancery: Commercial (Chambers & Partners 2017 and Chambers Global 2017)
Offshore (Chambers & Partners 2017 and Chambers Global 2017)
Chancery: Traditional (Chambers & Partners 2017 and Chambers High Net Worth 2016)
Trusts (Chambers & Partners 2017)
Company (Legal 500 2016)
Private client: trusts and probate (Chambers Global 2017 Legal 500 2016)
Citywealth Leaders List 2016 - Lawyers/Barristers - Contentious Trusts

Citywealth Leaders List 2015 - Prominent Barristers - Trusts

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Giles Richardson

Giles Richardson

Year of Call: 1997
Email: grichardson@serlecourt.co.uk

Overview

Giles’ practice encompasses a wide range of commercial and chancery disputes, both led and unled, as well as both on-shore and off-shore (especially in the Channel Isles and the Caribbean). Much of his work has an international dimension and he is both used to and enjoys working as part of a team with solicitors and others.

He is a top ranked junior for Offshore work in the 2014 edition of Chambers & Partners and Chambers Global, described as "a prominent name in many of the traditional offshore jurisdictions (2014) and an "incredibly talented junior...when it comes to offshore work" (2013); as well as for Traditional and commercial Chancery work where he "handles very difficult things and produces excellent results". He is also recommended in Legal 500 2014 for both Private Client: Trusts and Probate ("fearsomely bright, very commercial and very easy to get on with") and for Company law ("Always on the money. His opinions and input are invariably right").

The Citywealth Leaders List 2013 described him as "one of the foremost senior juniors in the English Bar specialising in contentious trusts and estates".

Areas of expertise

Recommendations

Chancery: Commercial (Chambers & Partners 2017 and Chambers Global 2017)
Offshore (Chambers & Partners 2017 and Chambers Global 2017)
Chancery: Traditional (Chambers & Partners 2017 and Chambers High Net Worth 2016)
Trusts (Chambers & Partners 2017)
Company (Legal 500 2016)
Private client: trusts and probate (Chambers Global 2017 Legal 500 2016)
Citywealth Leaders List 2016 - Lawyers/Barristers - Contentious Trusts

Citywealth Leaders List 2015 - Prominent Barristers - Trusts

Quotes

"Giles Richardson is a pleasure to work with.  He has an impressively incisive mind and always cuts to the quick offering imaginative and well thought out solutions.  He is also very responsive and great with clients." - Citywealth Leaders List 2016

"Very clever, really great to deal with.  He is commercial.  We had a difficult meeting involving several silks and he brought everyone back on point.  He is doing the bulk of the work", "He is just very good.  His advice is clear.  He is personable and good in a team.  He is very commercially minded, and very clever." - Chambers High Net Worth 2016

"For a number of years Giles has been on my very short shortlist of junior counsel for commercial chancery matters. Clever, quick, efficient, commercial, available and affable, he adds considerable weight to any team and is a delight to work with. I have worked with Giles on a range of trust related matters, from a very substantial breach of trust claim worth over £100 million to a small but complex contentious administrative application, and found him equally adept in dealing with all. He is not only excellent on technical trust law points, but is also a valuable sounding board when it comes to strategic decisions. He is equally well liked by and a first choice of my fellow partners working in this area. I would have no reservation in recommending Giles to my clients or, indeed, anybody else." - City Wealth Leaders List 2015

"He is incredibly user-friendly and hard-working." "He has excellent knowledge of the law and is good tactically. Clients love him." - Chambers Global 2015

"He is very commercial and able to convert the esoteric into the everyday. You always feel like he has got it bang on right." - Chambers Global 2015

"Always on the money. His opinions and input are invariably right" - Legal 500 2014

"... a very clear and persuasive advocate..." - Chambers Global 2014

"incredibly bright, works hard and is available to clients 24/7" - Chambers & Partners 2014

"incredibly talented junior" - Chambers & Partners 2013

"handles very difficult things and produces excellent results" - Chambers & Partners 2013

"Commentators 'can't speak highly enough' whom they find 'accessible and user friendly'. His 'classy' contentious trusts and commercial chancery practice often takes him to off-shore jurisdictions. 'Years ahead of his call', everything one client saw from him was 'gilt-edged'." - Chambers & Partners 2012

Trusts and Probate

Re EAIC [2014] WTLR57: instructed by Clifford Chance on behalf of joint adminstrators from KPMG of schemes of arrangement dealing with an insolvent insurance company who were also the trustees of a c.£20m trust fund held for the benefit of its policy holders.  The trustees faced a real issue with their ability under the trust instrument to make payments to entitled policy holders in a commercially sensible and efficient manner.  A claim was therefore made in the High Court for, effectively, a variation of the trust under s.57 of the Trustee Act 1925 to permit payments to be made, relying on a novel approach to s.57 and dependent on actuarial advice.  The claim succeeded.

A Ltd v B and others [2013] JRC075: instructed to advise and provide an Opinion for production before the Royal Court by the Qualified Member of a Jersey foundation in the first (reported) decision on the ambit of appropriate directions obtainable by a council member or foundation. The Court noted ([16]) that his Opinion was a "very clear and helpful opinion from which we have drawn extensively for the purposes of this judgment".

Barclays Wealth Trustees (Jersey) Ltd v Equity Trust (Jersey) Limited: acting in proceedings against the former trustee of unit trusts investing in Eastern European property developments for alleged breaches of trust and significant losses arising therefrom.

Emerald Bay Worldwide Limited v Barclays Wealth (Guernsey Judgment 16/2013) : instructed on the trial in Guernsey of a US$8m by a BVI company held within a Jersey law trust against its Guernsey incorporated former directors for breach of duties of care and skill in relation to the acquisition of a jet airplane, raising a number of significant BVI company law issues, including its regime as to the indemnification of directors.

Walker v Egerton-Vernon and others: instructed on behalf of a personal trustee of the family trust of late Jack Walker (former Blackburn Rovers' chairman) in proceedings commenced against him and other trustees by beneficiaries in Jersey, following Jack Walker's death, involving breach of trust allegations concerning investment in Flybe and distributions to Blackburn Rovers football club.

Pearson v Lehman Brothers Finance SA and others [2010] EWHC 2914 (Ch.): advising and appearing at trial arising from the collapse of Lehman Brothers, acting for principal US Lehman entities in relation to funds held within the Lehman estate in London, in claims giving rise to important issues as to the trust principles applicable to intermediated securities.

Lexingville Investments Ltd v BNP Paribas Securities Services SA: proceedings against BNP Paribas for alleged breaches of custodianship duties owed to it in dealing with client securities.

Re Internine Trust, Alhamrani v Alhamrani [2007] JRC026: instructed by Clifford Chance (London) and Mourant de Feu & Jeune (Jersey) on behalf JP Morgan (Jersey) Trust Company as trustee in major litigation brought by Saudi beneficiaries. The trial, which commenced on 17 November 2008 and lasted nine months until settlement was achieved, was the longest ever held in Jersey.

Re the VR Trust: instructed on behalf of the trustees of a substantial trust arising from mining interests with South African beneficiaries engaged in disputes with the Protector of the trust and with companies controlled by him.

Minwalla v Minwalla: instructed on behalf of the beneficiary of Jersey trust seeking to enforce a major English ancillary relief award against the trust’s assets in the face of continuing hostility from the former husband and claims advanced by the Government of Pakistan.

Barker v Royal Bank of Canada: defending a retired trustee from breach of duty allegations in relation to investment directions.

Westminster City Council v Dame Shirley Porter: instructed on behalf of beneficiaries of a number of family trusts in relation to proceedings focused Guernsey and the BVI which sought to attack a number of trusts on the basis of allegations of sham and that the trusts were established with the intention of defrauding creditors.

Company

F G Hemisphere v Gecamines [2012] UKPC 27: instructed to act in the Privy Council appeal of a Congolese state owned mining company seeking to resist enforcement by a U.S. distressed debt fund of state debts against c.US$120m of its assets arising from a Jersey joint venture vehicle.

Raffiesenlandesbank v Maxfold LLP and others: instructed on behalf of the corporate directors of English LLPs and of the foreign directors of those corporate directors in a fraud action brought against them by an Austrian Bank alleging their complicity in that fraud, in which the LLPs were allegedly used as conduits to facilitate the extraction of €1.4m from the bank. The claim raised complex and interesting issues of company law and the effects of incorporation as to the extent to which an (allegedly) defrauded party can proceed directly against the officers of such alleged conduits in a fraud (and indeed against the officers of such officers) rather than having to collapse the structure through liquidations.

Emerald Bay Worldwide Limited v Barclays Wealth (Guernsey Judgment 16/2013) : instructed on the trial on appeal in Guernsey of a US$8m by a BVI company held within a Jersey law trust against its Guernsey incorporated former directors for breach of duties of care and skill in relation to the acquisition of a jet airplane, raising a number of significant BVI company law issues, including its regime as to the indemnification of directors.

Walker v Egerton-Vernon and others: instructed on behalf of a personal trustee of the family trust of late Jack Walker (former Blackburn Rovers' chairman) in proceedings commenced against him and other trustees by beneficiaries in Jersey, following Jack Walker's death, involving breach of trust allegations concerning investment in Flybe and distributions to Blackburn Rovers football club.

Belgravia Financial Services Group v First Vanguard: instructed on behalf of Hong Kong based directors and investors in a complex international company law dispute involving allegation of fraud and breach of fiduciary duty.

Commercial Litigation

First Peninsula Trustees Limited v Picard & others: instructed to act for the trustees of B.V.I. settlements which received substantial sums from Madoff feeder funds in relation to claims brought by the principal Madoff office holder in New York and in London.

F G Hemisphere v Gecamines [2012] UKPC 27: instructed to act in the Privy Council appeal of a Congolese state owned mining company seeking to resist enforcement by a U.S. distressed debt fund of state debts against c.US$120m of its assets arising from a Jersey joint venture vehicle.

Pearson v Lehman Brothers Finance SA and others [2010] EWHC 2914 (Ch.): advising and appearing at trial arising from the collapse of Lehman Brothers, acting for principal US Lehman entities in relation to funds held within the Lehman estate in London, in claims giving rise to important issues as to the trust principles applicable to intermediated securities.

Lexingville Investments Ltd v BNP Paribas Securities Services SA: proceedings against BNP Paribas for alleged breaches of custodianship duties owed to it in dealing with client securities.

Civil Fraud

First Peninsula Trustees Limited v Picard & others: instructed to act for the trustees of B.V.I. settlements which received substantial sums from Madoff feeder funds in relation to claims brought by the principal Madoff office holder in New York and in London.

Raffiesenlandesbank v Maxfold LLP and others: instructed on behalf of the corporate directors of English LLPs and of the foreign directors of those corporate directors in a fraud action brought against them by an Austrian Bank alleging their complicity in that fraud, in which the LLPs were allegedly used as conduits to facilitate the extraction of €1.4m from the bank. The claim raised complex and interesting issues of company law and the effects of incorporation as to the extent to which an (allegedly) defrauded party can proceed directly against the officers of such alleged conduits in a fraud (and indeed against the officers of such officers) rather than having to collapse the structure through liquidations.

Minwalla v Minwalla: instructed on behalf of the beneficiary of Jersey trust seeking to enforce a major English ancillary relief award against the trust’s assets in the face of continuing hostility from the former husband and claims advanced by the Government of Pakistan.

Qualifications

BA (First Class),BCL (First Class),Merton College Oxford

Memberships

Commercial Bar Association
Chancery Bar Association
S.T.E.P.

Publications

Minority Shareholders - Law, Practice and Procedure (OUP 4th ed., 2011), co-author


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