"impressive silks and juniors are praised for their strength in depth"
Serle Court “offers a variety of skill sets that others can’t provide, and houses some of the biggest names at the Bar”
Area of Law: International and Offshore
Thomas Fletcher acted on behalf of the successful Defendants in these appeals concerning, among other things, principles of private international law in the context of administration of estates and succession (instructed by James Hennah and Tom Cassels of Linklaters and led by Brian Kennelly KC black and Paul Luckhurst of Blackstone Chambers).
Read MoreArea of Law: International and Offshore
The High Court has delivered a landmark judgment in favour of the Republic of Mozambique, awarding damages and an indemnity for future losses totalling over $2 billion against the Privinvest Group in relation to events which have become known as the “tuna bonds” or “hidden debts” scandal. The proceedings concerned 3 sovereign guarantees purportedly granted by Mozambique to secure funding for maritime protection and tuna fishing supply contracts. The Republic of Mozambique contended that these guarantees had been procured by the bribery, amongst others, of the Minister of Finance, Mr Chang. Following a 13 week trial in the Commercial Court, the Hon. Mr Justice Knowles CBE held that payments made by or on behalf of the Privinvest Group and Mr Safa to or for the benefit of Mr Chang were bribes.
Read MoreArea of Law: International and Offshore
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: International and Offshore
The Judicial Committee of the Privy Council has handed down its advice in Jean-Charles v The Attorney General of The Bahamas and ors [2022] UKPC 51. The decision establishes that a constitutional challenge may be made in an action for habeas corpus and that separate legal proceedings are not required.
Read MoreArea of Law: International and Offshore
Zoe O’Sullivan KC and Gregor Hogan acted in the DIFC Court for the successful respondent in Al Buhaira National Insurance Co v Horizon Energy LLC CFI 098/2021 (9 November 2022), obtaining the dismissal of Al Buhaira’s application for an anti-suit injunction preventing Horizon from pursuing parallel proceedings in Sharjah. This important judgment contains valuable consideration of the role of comity when the DIFC Court is called upon to address conflicts of jurisdiction between the different courts of the UAE.
Read MoreArea of Law: International and Offshore
Lord Justice Nugee handed down judgment yesterday in Kea Investments Ltd v Watson [2022] EWHC 5 (Ch), rejecting a committed contemnor’s argument that his costs should be paid by the successful applicant. This judgment will be of interest to parties considering committal as a means to secure compliance with court orders as well as to those whose clients are in breach of those orders.
Read MoreArea of Law: International and Offshore
Elizabeth Jones QC, Justin Higgo QC, Gareth Tilley, Paul Adams, Zahler Bryan, and Oliver Jones continue to act for Kea Investments in the ongoing litigation against Eric Watson, following the substantial judgment obtained against Mr Watson for deceit and breach of fiduciary duty in 2018. This year resulted in notable decisions on the circumstances in which a defendant can have resort to assets subject to a freezing or proprietary injunction when there is an unsatisfied judgment debt ([2020] EWHC 472 (Ch)), a judgment creditor’s right to be subrogated to the position of a bank that had used money held on trust for the judgment creditor to satisfy debts of its customer, the judgment debtor ([2020] EWHC 309 (Ch)) and, in a judgment reaffirming the risk taken by litigants who deliberately breach court orders, Mr Watson was committed to prison for 4 months for failing to disclose assets which were made available for his use ([2020] EWHC 2599 (Ch); [2020] EWHC 2796 (Ch)). Mr Watson’s application to stay the committal order was refused.
Read MoreArea of Law: International and Offshore
Dakis Hagen QC (assisted by Emma Hargreaves) acts for the Plaintiffs and Jonathan Adkin QC (assisted by Adil Mohamedbhai) acts for the Defendant trustee in Wong & Anor v Grand View Private Trust Company Ltd, a claim to recover substantial trust property transferred to a trustee of a purpose trust. The Plaintiffs succeeded in obtaining summary judgment at first instance on the ground that powers of addition and exclusion cannot be exercised in a manner which alters or destroys the substratum of the trust ([2019] SC (Bda) 37 Com (5 June 2019)), but this was overturned by the Bermuda Court of Appeal in April 2020 (Civil Appeal No. 5A of 2019, 20 April 2020). Richard Wilson QC (assisted by James Weale) acts for Tony Wang, an intervenor in the appeal. The Plaintiffs and Tony Wang have each been granted leave to appeal to the Judicial Committee of the Privy Council.
Read MoreArea of Law: International and Offshore
Jonathan Adkin QC, Sophie Holcombe, and Jamie Randall act on behalf of the former Prime Minister of Georgia and his family as beneficiaries of a Singapore Trust in Ivanishvili, Bidzina and others v Credit Suisse Trust Ltd [2020] SGCA 62. Claims have been commenced against Credit Suisse entities for losses arising from the mismanagement of an investment portfolio said to be worth over US$1bn. In July 2020 the Singapore Court of Appeal dismissed Credit Suisse Trust’s jurisdiction challenge, bringing an end to a long-running jurisdiction battle.
Read MoreArea of Law: International and Offshore
In Credit Europe Bank (Dubai) Ltd v. (1) NMC Trading LLC (2) NMC Healthcare LLC (3) Bavaguthu Raghuram Shetty [2020] DIFC CFI 031, Rupert Reed KC and Gregor Hogan acted for the major Dutch Bank, CEBD, to obtaining a worldwide freezing order against Dr BR Shetty, founder of the troubled NMC Group. The decision also confirmed that an applicant need not demonstrate any assets of the respondent in the jurisdiction of the DIFC to obtain a worldwide freezing order. Rupert and Gregor represented CEBD at the trial of its claim against Dr Shetty in September 2021.
Read MoreArea of Law: International and Offshore
Rupert Reed KC and Gregor Hogan acted for the Sarjah Elecricity and Water Authority in FAL Oil Company Ltd v Sarjah Electricity and Water Authority. The case involved the challenging of the recognition and enforcement in the DIFC of a Sarjah court judgment on the basis of inter-Emirate immunity. This is the first time the DIFC Court considered the concepts of sovereign immunity within the UAE.
Read MoreArea of Law: International and Offshore
In Khalifeh v Blom Bank, Zahler Bryan is acting for the claimant who seeks the return of monies held in a Lebanese bank account and, in a high-profile decision earlier this year, successfully resisted the Lebanese bank’s jurisdiction challenge by establishing that the claimant was a consumer for the purposes of the European rules of jurisdiction ([2020] EWHC 2427(QB)).
Read MoreArea of Law: International and Offshore
In Brown & Company Plc v Faber Capital (DIFC) Ltd, Rupert Reed QC, and Gregor Hogan continue to act for a financial services firm defending allegations of breach of fiduciary duty arising from a sophisticated phishing attack.
Read MoreArea of Law: International and Offshore
John Machell QC and Dan McCourt Fritz act for one of the respondents to an appeal in St Johns Trust Company (PUT) Ltd v Medlands (PTC) Ltd. The appeal concerned various orders made by the Court exercising its supervisory jurisdiction in relation to trusts. The appeal was heard by the Bermudian Court of Appeal in January 2020.
Read MoreArea of Law: International and Offshore
In B v B, Emma Hargreaves and Gregor Hogan act for the wife in divorce proceedings involving Portuguese property held in a Cypriot trust. The case involves complex questions of jurisdiction and trusts law, and is expected to be one of the first decisions considering the Privy Council’s decision in Webb v Webb. Judgment is expected in early 2021.
Read MoreArea of Law: International and Offshore
Dakis Hagen QC appeared for the first defendant in Geneva Trust Company (GTC) SA v IDF & Anr (21/12/2020) FSD 248 OF 2017 (IKJ) in her successful application for a stay of a claim in the Cayman Islands seeking declarations as to the validity of a Cayman Islands trust which trust was already being impugned by her in ongoing litigation in Italy. The application was met in part by the argument that the Cayman court had an exclusive statutory jurisdiction to determine such matters under s. 90 of the Cayman Trusts Law (which, it was said, in that context abrogated the power to stay on grounds of forum non conveniens); the court noted that such had been the orthodox view historically based on authorities stretching back 20 years.
Read MoreArea of Law: International and Offshore
In Basin v Rouge CFI 057/2018, James Weale appeared in the last in-person hearing in the DIFC Court before lockdown. Following a trial, James obtained judgment for the claimant in a claim under a guarantee agreement: [2018] CFI 057. The Court gave guidance on the extent to which variations to underlying obligations affect the validity of an associated guarantee. James also successfully defeated a jurisdiction challenge submitted to the Joint Judicial Committee (Cassation No. 9 of 2019).
Read MoreArea of Law: International and Offshore
In Attorney General v Zedra Fiduciary Services (UK) Ltd [2020] EWHC 2988 (Ch), Will Henderson acted for the Attorney General. This involved ‘The National Fund’ which was settled with £500,000 of cash and securities in 1928 on trust to accumulate income and profits until the date fixed by the trustee as being the date when, either alone or together with other funds then available for the purpose, the fund was sufficient to discharge the National Debt. The fund was then to be transferred to the National Debt Commissioners to be applied by them in reduction of the National Debt. The Fund is now worth about £0.5 billion. Zacaroli J held that there was a valid charitable trust and that the court had jurisdiction to order a cy-pres scheme. He adjourned the question of what (if any) scheme to order.
Read MoreArea of Law: International and Offshore
Rupert Reed KC and James Weale acted for the Claimant bank in a US$30m fraud claim against various defendants in proceedings in the DIFC in SBM Bank (Mauritius) Ltd v Renish Petroleum FZE (CFI 054/2018). Having successfully obtained summary judgment against the first two defendants, the trial against the third defendant has been listed in December 2021. A committal application against the first two defendants took place in January 2021. Please click here to view the judgment.
Read MoreArea of Law: International and Offshore
The Singapore Court of Appeal has dismissed Credit Suisse Trust’s jurisdiction challenge in breach of trust proceedings brought by the beneficiaries of a Singapore Trust, bringing an end to a long-running jurisdiction battle. The Court allowed the Claimants’ appeal on the grounds that Singapore was the most appropriate forum to determine the breach of trust claims against the trustee, and laid down important guidance as to the effect of forum for administration clauses in trust deeds. The Court of Appeal held that the forum for administration clause in the trust deed functioned as a jurisdiction clause, but that it did not govern all proceedings: it designated the jurisdiction that had supervisory jurisdiction over the trust, rather than dictating the venue for the resolution of contentious disputes. Jonathan Adkin QC and Sophie Holcombe act for the Claimants, instructed by Signature Litigation LLP, together with Drew & Napier (Singapore). The full Judgment can be found here.
Read MoreArea of Law: International and Offshore
In Sofer v SwissIndependent Trustees SA [2020] EWCA Civ 699, Richard Wilson QC and James Weale acted for the respondent in an appeal against an order striking out the claimant’s pleading on the basis that it did not properly particularise a claim in fraud. The Court of Appeal gave important guidance on the pleading requirements of fraud in the context of a dispute against a professional trustee.
Read MoreArea of Law: International and Offshore
Grand Valley General Trading LLC v GGICO Sunteck Ltd DIFC CFI 044/2018, DIFC CA 007/2019 concerns a joint venture dispute in relation to a property development in the Burj Khalifa area in on-shore Dubai. Rupert Reed KC obtained judgments from the DIFC courts on issues as diverse as whether a non-party 50% joint venture partner had standing to apply to set aside a default judgment for the dissolution of the joint venture company; the test of desirability under RDC 20.7 O for joining a new party; and whether the DIFC Courts had jurisdiction over the dispute, including the power to stay proceedings in favour of arbitration under Article 13 of the Arbitration Law.
Read MoreArea of Law: International and Offshore
In IMMS v BankMed SAL [2019] DIFC CA 013, Rupert Reed QC and Gregor hogan acted on the appeal of an interim refusal to grant an injunction freezing assets to the value of USD 755 million. Although the Court declined to find a sufficient risk of dissipation, it is likely to confirm the putative jurisdiction of the DIFC Courts to grant interim relief in support of foreign court and arbitral proceedings.
Read MoreArea of Law: International and Offshore
Rupert Reed QC (now KC) and Zoe O'Sullivan QC (now KC) represented the successful claimant in YYY Ltd v ZZZ Ltd [2017] DIFC ARB 005, a landmark decision of the DIFC Court refusing to recognise a decision of the highest Dubai national court on public policy grounds. The DIFC Court held that the Dubai Court of Cassation had breached its obligations under the New York Convention by applying its own law to determine the validity of the clause, rather than the law chosen by the parties. This reaffirms the pro-arbitration bias of the common law courts, and will have importance for arbitration practitioners beyond the DIFC.
Read MoreArea of Law: International and Offshore
In Larmag v First Abu Dhabi Bank [2019] DIFC CA 010, the DIFC Court of Appeal significantly extended the party jurisdiction of the DIFC Courts under Article 5(A)(1)(a) of the Judical Authority Law, ordering disclosure by a UAE bank on the basis that, in being 'recognised' by the Dubai Financial Services Authority in order to trade on NASDAQ Dubai, the Bank was 'authorised' to carry on financial services in the DIFC and therefore a 'Licensed DIFC Establishment'. Rupert Reed QC and Sophia Hurst act for First Abu Dhabi Bank.
Read MoreArea of Law: International and Offshore
In AF v SF [2019] EWHC 1224 (Fam) Dakis Hagen QC and James Weale acted for a respondent husband who lacked capacity in relation to a substantial financial remedy claim against a suite of ancient and dynastic trusts.
Read MoreArea of Law: International and Offshore
Dakis Hagen QC and Emma Hargreaves continue to act for the adult children of a late Russian businessman in Re Scherbakov, deceased, a cross border dispute concerning the succession to his very substantial worldwide estate and related proceedings concerning the beneficial ownership of very valuable shares in a BVI company. Dakis and Emma recently succeeded in obtaining an order for joint case management of the two English claims, notwithstanding opposition from the claimants. Giles Richardson acts for the deceased’s former wife and Richard Wilson QC and Oliver Jones act for the interim administrators.
Read MoreArea of Law: International and Offshore
Dakis Hagen QC and Emma Hargreaves advised the trustee in HSBC International Trustee Limited v Tan Poh Lee FSD 175 of 2019 (IKJ), a decision of the Cayman Court on the limits of the Cayman Islands' firewall legislation.
Read MoreArea of Law: International and Offshore
Richard Wilson QC and James Weale (acting for the Claimant and Defendant respectively) successfully set aside two multi-million-dollar trust on the ground of equitable mistake in Hartogs v Rothschild Trust AG [2019] EWHC 1915.
Read MoreArea of Law: International and Offshore
Timothy Collingwood continues to act for the Claimants in Re L&M Trust, in proceedings in the BVI seeking to set aside a trust. He appeared at the hearing of an application to obtain unredacted copies of documents held by a receiver appointed over the trust assets.
Read MoreArea of Law: International and Offshore
In the T Trusts, Kathryn Purkis continues to advise new trustees in relation to trusteeship transfer issues arising in a network of family trusts, including in relation to an allegedly forged deed of indemnity.
Read MoreArea of Law: International and Offshore
James Brightwell acted for the Plaintiffs and Timothy Collingwood acted for the new trustees in the latest Tchenguiz instalment, ITG Ltd and Bayeux Ltd v Geneva Trust SA [2019] GRC 064, where the Guernsey Royal Court followed the decision in Re Z Trusts on the priority of trustee creditor claims and held that the assignment of a claim to the present trustees had resulted in the discharge of the debt.
Read MoreArea of Law: International and Offshore
Dominic Dowley QC, Richard Wilson QC and Zahler Bryan acted for the trustee in PTNZ v AS, a Public Trustee v Cooper application concerning the restructuring of a substantial group of English trusts, in a case involving proceedings before the English and Jersey courts.
Read MoreArea of Law: International and Offshore
John Machell QC and Dakis Hagen QC appeared before the Chief Justice of the Cayman Islands in Re B, a Public Trustee v Cooper application approving the restructuring of a $1bn trust. Emma Hargreaves was junior counsel to the Protection Committee.
Read MoreArea of Law: International and Offshore
Philip Jones QC appeared in the Cayman Islands Court of Appeal in Shanda Games, one of China's largest computer games companies which delisted from the NYSE on a merger taking place. This was the first case to reach the Court of Appeal in relation to section 238 of the Cayman Companies Law, and involves an important point of principle as to whether a minority discount should be placed to valuation of shares of dissenting shareholders to a merger. Judgment is awaited, and the matter is expected to reach the Privy Council.
Read MoreArea of Law: International and Offshore
Kathryn Purkis and James Brightwell obtained judgment in and undertook the costs arguments in respect of the Privy Council decision of Investec Trust (Guernsey) Ltd v Glanalla Properties Ltd [2018] UKPC 7. This case confirmed (amongst other things) that the private international law status of trustees (at least of Channel Island trusts), and that notwithstanding the Jersey legislation, a creditor must nonetheless access trust funds by being subrogated to the trustee's indemnity from the fund.
Read MoreArea of Law: International and Offshore
Professor Jonathan Harris QC (Hon.) and Sophie Holcombe acted for the defendant company trading in Carbon Credits in successfully discharging an ex parte injunction obtained in support of Polish proceedings on the basis, inter alia, that the relevant EU jurisdiction rules were arguably infringed.
Read More
