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Area of Law: Banking and Financial Services
The Singapore International Commercial Court (International Judge Bergin) has today handed down judgment following the trial of the dispute between Bidzina Ivanishvili and other plaintiffs and Credit Suisse Trust Limited. The claim stemmed from the long-running fraud committed by Patrice Lescaudron, an employee of Credit Suisse Bank in Geneva.
Read MoreArea of Law: Banking and Financial Services
Philip Marshall QC, Jonathan Harris QC (Hon.) and James Mather are acting for Abu Dhabi Commercial Bank in State of Qatar v Emirates NBD Bank, one of the largest claims to be brought in the English High Court, in which claims are brought against the bank by the State of Qatar in conspiracy said to arise out of an alleged international scheme to manipulate the value of Qatari currency and bonds connected with the so-called ‘blockade’ of Qatar by neighbouring Gulf states causing the Qatari Central Bank to have to deposit US$13 billion.
Read MoreArea of Law: Banking and Financial Services
Lance Ashworth QC acts for the claimant in Grove Park Properties v Royal Bank of Scotland, which is due for a 10-day Commercial Court trial in January 2021, in which it is alleged that the defendant bank fraudulently amended a loan agreement to halve the term of the loan.
Read MoreArea of Law: Banking and Financial Services
Zoe O’Sullivan KC acted for the successful defendant in a US$170m guarantee claim brought by the Shanghai Shipyard, in which Robin Knowles J held that the guarantee given by it to the Shipyard in respect of the final installment of a shipbuilding contract was not a performance bond but gave rise only to secondary liability: Shanghai Shipyard v Reignwood International Investment (Group) Company Ltd [2020] EWHC 803 (Comm). She is also acted for the shipowner in its 2021 LMAA arbitration claim under the shipbuilding contract.
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Jonathan Harris QC (Hon.) and Zahler Bryan successfully argued that an investor in Bitcoin futures was a consumer for the purposes of the European rules of jurisdiction in Ang v Reliantco [2019] 3 W.L.R. 161.
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Jonathan Adkin QC successfully acted for one of the Defendants in Yukos Finance B.V & ors v Stephen Lynch & Ors in a five-week Commercial Court trial arising out of the Yukos Oil saga, in which allegations of corrupt participation in a rigged Russian auction were dismissed.
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In Punjab National Bank (PNB) v Srinivasan [2019] EWHC 3495 (Ch), Matthew Morrison appeared for the Third Defendant in connection with an appeal from a judgment setting aside permission to serve the Defendants out of the jurisdiction. PNB's claims in respect of loans totaling US$37 m were based on personal guarantees and allegations that the loans had been produced by fraudulent misrepresentation. The decision to set aside permission on the grounds of non-disclosure of existing foreign proceedings, and the absence of viable claims in contract and deceit, was upheld on appeal.
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