Banking and finance

A US$1 Billion damages claim, which arose out of the collapse of NMC PLC, a former FTSE 100 company, and its operating subsidiaries in the UAE, all of which are now in administration in England and Wales and the UAE. The claimant is an Abu Dhabi-based bank, and the first to third defendants are the former private shareholders in NMC PLC. The Bank alleged that the defendants are responsible, with others, for a serious fraud that appears to have taken place within the NMC Group of companies. The defendants all deny involvement in the fraud.

One of The Lawyer’s ‘Top 20 Cases of 2022’: successfully acted for Mr Manoukian in obtaining an order for payment of international transfers from his bank accounts held with the defendants, who are two of the largest banks in Lebanon. Since the onset of the Lebanese economic crisis, Lebanese banks, including the defendants, have refused to make international transfers of the sums held with them in foreign currency by their customers.

High value, multi-party appeal arising out of the Lehman Brothers’ collapse concerned with the ranking of different tranches of subordinated debt totalling several billions – important case on construction of subordinated debt

Acting for one of the successful defendants in his jurisdiction challenge  – a Libyan businessman against whom a claim had been brought by the Libyan Investment Authority alleging fraud and corruption in relation to transactions valued at US$200 million that it had entered into with Credit Suisse bank in 2008 and 2009.