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"great advice that’s always spot-on"

 

 

 

Legal 500 2008
“has a strong following of overseas banks”

 

 

Chambers 2009

Banking Disputes

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Clients and work in this area include:

  • Advising an International Bank on its investment of US$ 50 million in a defaulted Structured Investment Vehicle which is being restructured. We represent the interests of the client on the creditors’ committee and have advised on various inter-creditor issues.
  • We continue to act for the Tasarruf Mevduati Sigorta Fonu, the Turkish government body which takes enforcement proceedings against failed Turkish banks and secures depositors funds. We are seeking to enforce a Turkish commercial court judgment for US$30 million in the Cayman Islands by seeking to appoint a receiver by way of equitable execution over the powers of revocation in two trusts which the judgment debtor/defendant established. The Cayman Court of Appeal considered that Cayman did not have the required jurisdiction to grant such an order; we have now been given leave to appeal this decision to the Privy Council.
  • Acted for the Central Bank of Nigeria in interpleader proceedings in the English High Court to determine the ownership of funds held in a UK bank account.
  • Acting for a large Belgian bancassurer on the recovery of one of its largest defaulting loans. This has involved close co-ordination between the London and Brussels offices of BLP and the evolution of recovery plan against corporate and individual assets and security.
  • Acting on instructions of numerous counterparties including various funds in relation to defaults under FFA Swap Agreements. Total sums involved on the part of all of our clients are in excess of US$500 million.
  • Representing two Bermudan mutual funds in proceedings commenced in Bermuda against major financial institutions. This is a large and complex matter involving large sums and raising numerous multi-jurisdictional issues.
  • Represented a leading insurance and reinsurance group in obtaining freezing injunctions against a former employee who had fraudulently appropriated funds from the group, including recovering the individual’s assets from a variety of sources.

We're here to help

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David Hughes

BLP
Partner, Head of Banking Disputes
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Segun Osuntokun

BLP
Partner, Banking Disputes

If you need help with a legal or business issue, please contact our team.