Giles Richardson KC

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Giles Richardson KC specialises in trusts, probate, company and fiduciary obligations litigation, both in London and offshore, as well as associated professional negligence and fraud work. He also acts in high value financial remedy actions in the Family Division.

Giles is ranked in Chambers and Partners for all of Traditional Chancery, Commercial Chancery, Offshore, Trusts and Family/Matrimonial: Trusts/Tax Experts being described as “A joy to work with, Giles is a hugely talented advocate, who is fiercely intelligent. Clients and solicitors love him, and he also commands the ear of the court”. In Legal 500 he is recognised for Trusts and Private Wealth, Private Wealth and Probate and Company law and described as “a superstar… incredibly bright, inspires the utmost confidence in clients and has a very collaborative approach. He is a real team player”.

Areas of Expertise

Trusts & Probate

Recent Cases

Davidson v Seelig [2016] EWHC 549 – Instructed to advise and act in High Court proceedings, one of the first after the Supreme Court decision in Pitt v Holt / Futter v Futter, to invoke the “Re Hastings-Bass” jurisdiction to set aside defective exercises of power by trustees, in this instance in relation to exercise of powers of appointment in 2003 under complex family trusts first settled in 1967.
High Commissioner for Pakistan v Prince Mukkaram Jah, his exalted Highness the Nizam VIII of Hyderabad – Instructed to represent and advise the estate of the 7th Nizam of Hyderabad in relation to a c. £20m bank account deposited in London by the 7th Nizam in 1947 to which Pakistan, India and his grandsons also lay claim, the case concerning alleged informal trust arrangements and successive testamentary dispositions by the 7th Nizam.
DIA v Pugachev – Acted for New Zealand trustees of trust structures established to benefit the family of a Russian banker, whose assets were pursued by various Russian entities.
Re EAIC [2014] WTLR57 – Instructed on behalf of joint administrators 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 & 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 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 & 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 & 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.

Company

Recent Cases

Protec International Ltd v Stout – Instructed in English proceedings following Guernsey proceedings which determined the shareholdings and directorships of a Guernsey company to claim diverted intellectual property assets against an English company held by former joint venture partners.
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 & 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 & 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

Recent Cases

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 & Ohers [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.