The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Gabriel Moss QC of Gray’s Inn set 3-4 South Square is representing the Tchenguiz Family Trust in its multibillion-pound fight against failed Icelandic bank Kaupthing.
Stephenson Harwood senior associate Richard Garcia instructed Moss to represent the family in the £1.8bn fraudulent misrepresentation claim.
The lawyers allege that their clients, Mayfair investment tycoons Robert and Vincent Tchenguiz, were duped into allowing trust subsidiaries to enter into loan and collateral agreements with the bank, which failed to disclose the state of its finances.
The agreements were entered into on behalf of the Tchenguiz brothers by Investec (Guernsey) and Bayeux, then acting as trustees of offshore trusts linked to the brothers. They no longer act for the trusts.
The trust alleges that the bank failed to maintain sufficient liquid assets, breached exposure limits and broke rules on owning its own shares and accepting its own shares as collateral.
The claim has already been rejected by the bank’s liquidators in Iceland, but the Reykjavik District Court is deciding whether it should hear the claim.
The Commercial Court is being asked to decide whether the case should be heard domestically.
New Square Chambers’ Robert Levy QC has been instructed by Weil Gotshal & Manges to act for the bank’s liquidators.
Edwards Angell Palmer & Dodge partner Antonio Suarez-Martinez has instructed Brick Court’s Mark Howard QC to represent Tchenguiz Discretionary Trust in the jurisdictional matter in support of the claim.