James Bailey KC

Civil fraud and asset recovery

James’s commercial work ranges from acting for public limited companies to small and medium sized businesses.

James is acting in the long running and controversial Thevarajah litigation concerning an alleged fraud against the purchase of certain special purpose vehicles. Twice listed for trial and now having been the subject of two Court of Appeal decisions on separate points ([2014] C.P.Rep19; [2015] EWCA Civ 41; The Times, 26th March 2015), the part of the case pertaining to the Jackson Reforms and the decision in Mitchell was determined by the Supreme Court in 2016.

James’s commercial work often involves asset preservation, in particular urgent injunctive relief, and asset tracing and recovery.

Download Civil fraud and asset recovery CV

Company law

James is regularly involved in acting for both directors and shareholders in company disputes and is ranked by Chambers UK Bar and Chambers Global.

He appeared in the seminal case of Re Fort Gilkicker [2013] Ch. 551; [2013] W.L.R. 164; [2013] 3 All.E.R. 546; [2013] B.C.C. 365 in which he successfully contended (against the position of Lord Millett writing extra-judicially) for the continued existence of multiple derivative actions in English company law after the coming into force of the Companies Act 2006.

James’s company work includes advising directors on their duties generally, equitable winding up petitions, and is often involved in “split board” cases where he has assisted private equity and hedge funds. He was instructed in the British Universities and Colleges Sport matter over the construction of certain articles of association, a dispute which picketing students brought into the public eye.

James is also regularly involved in minority shareholder cases where his strong mathematical background makes him a favourite in cases involving complex forensic accounting.

Download Company law CV

Insolvency

He has a substantial insolvency practice which sits alongside his fraud work, and he is regularly instructed in high-profile matters. Historically he has acted for the Cayman Islands’ liquidators of Enron and appeared in the Comet administration. In 2018, he acted for Lawrence Stroll, who led a consortium to successfully acquire the Force India Formula 1 racing team. James was also instructed in the London Underground Public-Private Partnership. James is a contributor to Tolley’s Insolvency Law Service.

Recent experience:

• In 2018, James acted for a consortium led by Canadian billionaire Lawrence Stroll in the successful acquisition of the Force India Formula 1 motor racing team from Indian billionaire Vijay Mallya. The transaction was exceptionally complex and involved a structure never previously used in Formula 1.
• James acted for the successful petitioning creditor in the matter of Re Paul Baxendale-Walker (a bankrupt), a notorious piece of litigation arising out of negligent advice given by a former tax barrister and solicitor. Unusually the case concerned the appointment of an interim receiver, and thereafter the successful appointment of specifically named trustees in bankruptcy upon the making of a bankruptcy order (reported at [2018] B.P.I.R. 1243).
• James is instructed by office holders, creditors and debtors alike which gives rise to a broad range of work, including the challenging of the inappropriate use of the insolvency regime. Examples include the abuse of the IVA procedure in the Miss World litigation.
• By way of sub-specialism, James’s insolvency practice includes matrimonial insolvency. He has been instructed in various high value divorces and acted for the wife against her purportedly bankrupt husband in the “quite extraordinary” Young v Young litigation.
• James was instructed as an English law expert in proceedings before the Supreme Court of South Korea on a cross-border insolvency aspect pertaining to the “rehabilitation” (administration) of the Samsun Logix Corporation.

Download Insolvency CV