Commercial dispute resolution

Providing an effective methodology for resolving a dispute is the key to an area in which an outcome may be predictable but never certain.  Protracted litigation is often a zero sum game with hidden costs often exceeding the overall legal spend and all too quickly exceeding the potential fruits of any legal victory.  Hidden costs extend beyond pure financial loss, ranging from the opportunity cost of wasted resource to the undermining of previously profitable business relationships and the risk of reputational damage, particularly in the digital age where a case does not have to be reported to be known about.  When an actual or possible problem emerges you need to seek advice quickly.

We look after both private and corporate clients, whether established or new.  We are involved in corporate, financial services, professional negligence and substantial contractual disputes, often with an international element.  We regularly advise the directors, owners and advisers of businesses on disputes concerning mergers, acquisitions or disposals, or where there are disputes with shareholders or professional advisers. In particular we frequently work closely with the firm’s Financial services group, in contentious financial services cases. Members of the group also lead Speechly Bircham’s Financial investigations team, a cross-disciplinary practice with expertise in the fields of white collar crime (fraud, bribery and corruption claims), asset recovery and tracing, money laundering, government and regulatory investigations, compliance and risk management issues.

Our work involves dealing with a number of adjudication forums, including all the divisions of the Senior Courts, the London Court of International Arbitration and a number of other specialist tribunals.  We adopt a pragmatic approach and work with clients to identify the key issues at an early stage. We have cutting edge skills in the use of e-document collation, review and disclosure platforms, and are accustomed to providing detailed cost estimates, and exploring with our clients appropriate funding arrangements.  We also have expertise in, and make full use of, alternative dispute resolution methods including mediation – Stephen Dobson, our group head, is a CEDR-accredited mediator.     

Some of the recent cases we have worked on include:

Financial services fraud

We acted for an integrated financial services group in bringing claims against a Canadian fraudster and his impressionable home counties stockbroker, where the latter failed to organise adequate collateral to fund the purchase of illiquid US securities.  Cases against both went separately to trial.  Some assets were recovered and the case only concluded following the death of the fraudster and the bankruptcy of the stockbroker.

Financial services dispute in BVI

We advised a fixed income performance mutual fund incorporated in the British Virgin Islands, in its defence of two lawsuits, involving a total claim of US$8m. Initially, the claimant issued a petition claiming that it was unfairly prejudiced in respect of the suspension of redemptions.  With our help our client managed to strike out the petition at first instance, but the decision was reversed by the Eastern Caribbean Court of Appeal.   Fresh proceedings were subsequently issued against our client seeking the compulsory appointment of a liquidator, which we have now defeated, effectively disposing of the unfair prejudice action as well. 

International investment dispute – London arbitration

We are acting for a major central European financial institution in its defence of English law arbitration proceedings brought against it in the London Court of International Arbitration by a US fund and its offshore sister.  It is claimed that our client should be held responsible for alleged misrepresentations which, the funds say, induced them to make a substantial investment in a corporate acquisition and merger transaction in Russia in respect of which the funds subsequently made a significant loss.

International asset tracing – multiple proceedings

We are involved in coordinating a series of proceedings in the Chancery Division, Employment Tribunal, the Swiss civil and criminal courts, relying predominantly on Saudi Arabian law which has already become a test case on the application of the Council Regulation on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters (aka “Brussels I”).