Source: https://www.quadrantchambers.com/barristers/profile/paul-downes-qc
Timestamp: 2019-04-26 02:07:14+00:00

Document:
"Paul is incredibly proactive and pulls no punches. He displays particular gravitas when on his feet and is a terrific cross-examiner."... "A powerful advocate with a flair for a difficult case."
"Paul offers clear and robust advice on complex financial disputes. He is impressive in court and in consultation, and instils confidence in clients."
"He never goes cold on you, but instead sticks to his advice in a way that makes your life as a solicitor so much easier." "He's a fearless advocate who pulls no punches."
"He is a phenomenal advocate with a fiercely legal mind who absorbs material in record time."
Particular areas of expertise include swaps and derivatives disputes, hedge funds, securities, cheques and bills of exchange, letters of credit, company and insolvency, commercial fraud and tracing, regulatory compliance, breach of warranty claims, and technical accountancy-related issues.
Re One Life One Coin (2017) - advising on risk relating to claims arising from crypto currency (similar to bitcoin) and possible enforcement steps.
King v Primekings (2017) - claim for rescission of share sale and purchase agreement arising from alleged misrepresentations.
JJW v IBRC Asset Finance (2017) - representing subsidiary of Anglo Irish Bank (in Administration) with regard to alleged breaches of £82m loan agreement; claim for £150m losses arising out of failed hotel development.
LSREF III v Millvalley  EWHC 466 (Comm) - derivatives; claim for rectification of LIBOR swap confirmation to change reference to 1992 ISDA Master Agreement to 2002 ISDA Master Agreement; interpretation and application of Lomas decision re liquidation of Anglo Irish Bank.
N v NCA and Royal Bank of Scotland  EWCA Civ 396 - application for mandatory injunctive relief and interim declarations in relation to bank’s decision to freeze bank account because of suspicions in relation to the status of the account and potential breaches of the Proceeds of Crime Act 2002.
FCA v K (2015) - derivatives, LIBOR manipulation, successfully represented trader regarding allegations of LIBOR manipulation before FCA’s RDC; case involved detailed analysis of implied LIBOR calculations and recorded discussions of same to demonstrate that no manipulation occurred.
S v H (2015) - claim for misrepresentation/fraud in relation to false statements in £7m rights issue prospectus.
E v B (2015) - Commercial Fraud: claim for conspiracy/fraud in relation to insurance fronting agreement for Latvian insurance company and premiums of £12m which were allegedly misappropriated; worldwide freezing injunctions; jurisdiction of Court to freeze assets of non-cause of action defendants (Chabra/C Inc jurisdiction).
Re C (2015) - advising on bank confidentiality issues arising from benchmarking service offered across multiple banks/lending institutions.
Car Park Services v Ulster Bank (2015) - derivatives, claim against Ulster Bank arising from reconstruction of bank and prejudice to corporate customer; claims in breach of bank/customer mandate; ability of bank to assign rights to third party; injunction obtained to restrain assignment.
Myers v Kestrel  EWHC 916 (Ch) - allegation that majority loan note holders had acted to detriment of minority loan note holders; whether loan notes were subject to an implied term requiring good faith by majority; whether company insolvent under section 123 of the Insolvency Act 1986; application of Supreme Court decision in Re Eurosail.
Roberto’s Club v Rella (2014) - DIFC unfair prejudice application based on alleged unlawful forfeiture of shares in DIFC based restaurant business.
Stokors v IG Markets  All ER (D) 300 [Banking: derivatives, acting for Defendant to €100m claim for dishonest assistance and knowing receipt arising from collapse of Echelon Wealth Management Limited in 2008.
C v P (2013) - Employment: acting for company in unfair dismissal and discrimination claims concerning whistleblowing and allegations of false accounting and profit manipulation by well-known UK company.
Standard Chartered v Dorchester LNG  All ER (D) 140 - acting for Defendant to claim for $6m arising from alleged misdelivery of goods, issue of construction of Carriage of Goods by Sea Act 1992 and an issuing banker’s position after dishonouring a letter of credit under UCP 600.
Shah v HSBC  1 AER (Comm) 72;  EWCA Civ 31 Court of Appeal: $330m claim arising from Bank’s alleged negligence in compliance with its obligations under the Proceeds of Crime Act 2002 including dispute over failed forex remittances.
Wenham Major v RBS & Others (2011) - £11m tracing action arising out of insolvency of national accountancy firm specialising in tax avoidance scheme.
Dennard & Others v PwC  EWHC 812 (Ch) Times Law Reports 26th April 2010 - £20m professional negligence action against defendant accountants for undervaluation of PFI primary health care facilities.
Titan v Royal Bank of Scotland  2 LLR 92 - derivatives, dispute over exposure of up to €84m under complex Forex derivatives transactions, involving allegations of breach of the FSA rules.
Investec v Zulman & Zulman  EWCA Civ 536 CA Court of Appeal [Banking & Finance: dispute over construction and enforceability of bank guarantee.
Re M (2009) - Forex remittance of sums from failed Icelandic bank to RBS; issue as to whether sums had left Icelandic bank and passed beneficially to claimant.
Bishops Wholesale v Surridge Dawson  2 BCLC 546 - dispute over construction of buy back clause in share sale agreement.
Calyon v Awal Bank (2009) - $176m claim against Saudi Bank now in administration; freezing injunction obtained securing assets in the jurisdiction.
Re PG Shares (2009) - acting in dispute between two major investment banks over successive misallocations of shares in a Norwegian company and $3m claim arising therefrom.
Re Pharmacy Mutual Insurance Company (2008) - £50m scheme to transfer insurance business under Part VII of the Financial Services and Markets Act 2000.
R v UMBS Online  EWCA Crim 3128;  Bus LR 1317 Court of Appeal - construction of and challenge to Proceeds of Crime Act 2002 s.41 under Human Rights Act 1998.
K Limited v Nat West  1 WLR 311 Court of Appeal - Bank’s suspicions of money laundering, whether customer could obtain mandatory injunction to compel bank to pay out during 31 day moratorium period.
Re UMBS Online  EWCA Civ 406 Court of Appeal - judicial review of Serious Organised Crime Agency’s refusal of consent to deal in relation to funds suspected to be the proceeds of crime.
Liverpool Freeport v Habib Bank  EWHC 1149 (QB) - £4m by bank customer re unauthorised debits from account and retention of documents presented under a letter of credit; claim against bank regarding disputed forex transactions; banker’s lien and associated right to retain documents (successful retrial of Iqbal v Habib).
Energy Financing Team v Director of the Serious Fraud Office  1 WLR 1316 - request for mutual legal assistance from Bosnian authorities; judicial review of SFO in determining how they complied with the request.
Re Belfield Furnishings  2 BCLC 705 - £2m claim in section 459 petition, application to strike out on the basis that a reasonable offer had been made.
Re P&O  EWHC 389 (Ch);  Bus LR 554 -£4bn scheme of arrangement; irregularities in company procedure and whether those irregularities were “accidental” under Companies Act 1985.
Tradigrain v State Trading Company of India  1 Lloyd’s Rep 216 - Appeal from GAFTA arbitration under section 67 of the Arbitration Act 1996, Performance bonds; implied term relating to reimbursement of overpayment; whether claim sounded in debt or damages.
Infiniteland v Artisan  1 BCLC 632 Court of Appeal - £1.5m dispute over share sale agreement including company valuation, completion accounts mechanism, and whether accounts true and fair.
Thistle v Orb  EWHC 322 (Ch);  All ER (D) 326;  2 BCLC 174 Ch Div - dispute over £600m takeover of Thistle Hotels; construction of completion accounts provisions, deferred tax under SSAP 15 and FRS 19; security for costs.
Iqbal v Habib Bank  EWHC Civ 1062 Court of Appeal - duties of bankers, letters of credit and forex remittance of disputed sums, guarantees, Statute of Frauds, estoppel by convention, claim for £4m.
Symons v Barclays Bank  All ER (D) 210 - breach of mandate, whether bank could set-off other claims.
Amalgamated Metal v City of London Police  EWHC 703 (Com);  1 WLR 2711;  4 All ER 1225;  1 All ER (Comm) 900 Com Ct - money laundering (RBG Fraud); interim declarations; CJA 1988 s.93A.
Home Doors v France  EWCA Civ 1122 Court of Appeal - share sale agreement, breach of warranty, terms of disclosure, terms of limitation clause.
Habib Bank v Abbeypearl  EWCA Civ 62 Court of Appeal - striking out for delay, human rights, duty of banker, whether fair trial possible.
Re S PLC (2001) - acting for the FSA in regulatory proceedings and the associated appeal concerning a breach of the UK Listing Authority Rules at paragraphs 9.1 and 9.2 of the continuing obligations, and the jurisdiction of the Financial Services and Markets: Quotations Appeal Committee.
Admiral Scaffolding v Simms  EWCA Civ 908 Court of Appeal - share sale agreement, alleged breach of freezing injunction; variation of undertakings to the Court.
Solo Industries v Canara Bank  EWCA Civ 1041;  1 WLR 1800;  2 All ER (Comm) 217;  2 LLR Court of Appeal - performance bonds, fraud exception.
Bairstow v QMH  1 BCLC 549 QBD;  2 BCLC 531  EWCA CIV 712 Court of Appeal - directors’ liability for unlawful dividends, claim for £80m.
Bank of Scotland v A B & C  LLRB 271 Ch D;  EWCA Civ 52;  1 WLR 751;  3 All ER 58 CA;  All ER (Comm) 1023;  9 LS Gaz R 41;  NLJR 102; 145 Sol Jo LB 21;  All ER (D) 81 - money laundering, tipping off.
Allied Carpets v Nethercott (1999) QBD - company directors’ duties, accountancy, unlawful dividends.
Banque Cantonale Vaudoise v Waterlily Maritime  2 LLR 347 - Brussels Convention.
Sal Oppenheim v Rotherwood (1995) CA and (1996) Court of Appeal - Bills of Sale, enforceability of £3m facility.
Bocotra Construction v A-G for Singapore  2 SLR 170; 2 SLR 523 - performance bonds: injunction to prevent call in relation to construction of central expressway in Singapore.
Paul has a strong practice across a wide range of commercial work, including all forms of contractual disputes, notably those relating to the sale of goods, supply of services and agency agreements.
His commercial practice also covers insurance and reinsurance, construction, commercial fraud, international trade, and corporate insolvency.
Takeda v Fougera (2017) - dispute arising from €9.6bn takeover of Danish Pharmaceutical giant Nycomed; dispute over indemnity in relation to Danish withholding tax.
West Ham United v E20 (2017) - acting for premiership football club regarding stadium access and use.
Globe Motors v TRW Lucasvarity  EWCA Civ 396 - acting for Defendant in €20m dispute over breach of exclusive distribution for power steering mechanisms in automotive industry – successful appeal against order of HHJ Mackie QC.
Palmerston v Brocket Hall (UK) Ltd (2016) - application for injunction under section 44 of the Arbitration Act 1996 to prevent termination of hotel management contract in relation to the well-known luxury gold resort, Brocket Hall.
Lictor Ansalt v Mir Steel  All ER (D) 186;  EWCA Civ 1397;  All ER (D) 197 - acting for Defendant to claim for €50m in relation to hive down agreement arising from an administration, allegation that administrators induced breach of contract and/or were parties to an unlawful act conspiracy, defence of justification available to purchaser of company’s assets in administration.
Di Resta v Hamilton (2013) - acting for Paul Di Resta in dispute with former F1 management company, HMG, and Anthony Hamilton (father of Lewis Hamilton).
Langstone Leisure v Willers and Gubay (2013) - acting for third party founder of Quicksave and Total Fitness in dispute over mismanagement of litigation, breach of director’s duties, Duomatic principle, duties of shadow directors.
Rubicon Fund Management v Attias (2012) - acting for Claimants in £100m hedge fund dispute, case settled following Claimant’s opening.
Senergy v Zeus Petroleum  AER (D) 174 - $15m dispute over hire of North Sea oil rig for oil exploration purposes.
Jeeg v Hare  AER (D) 52 [Commercial, Sports & Media: Claimant company victim of alleged slander as to its solvency; Defendant offering undertaking, application to strike out under Jameel jurisdiction.
Senergy v Bow Valley (2009) - $29m dispute over contract for hire of North Sea oil rig.
Shilmore v Phoenix Aviation (2009) - dispute over ownership and operation of Challenger CL 600 2B16 aircraft.
Redwell v 1-3 Cuba Street  EWCA Civ 1799 Court of Appeal - Sale of land, estoppel by convention, Law of Property Act (Miscellaneous Provisions) 1989, sufficiency of oral agreement as to interest.
Sensient v Phoenix  EWHC 1614 (QB) - mandatory injunction to continue outsourcing of IT services; whether injunction available; whether cause of action.
Williams Corporate Finance v Holland  EWCA 1526 Court of Appeal - costs appeal against exercise of Judge’s discretion.
Turner v Palomo  4 All ER 353 Court of Appeal - Solicitors Act 1974, costs, existence of ordinary jurisdiction alongside statutory jurisdiction.
Bairstow v QMH (No.2) Court of Appeal  1 AER 343 [Practice: Civil Evidence Act 1995.
St Vincent General Partner v Robinson (2017) - €30m claim for damages arising from sale of land in Poland at an undervalue tainted by bribes and an unlawful act conspiracy.
Chen v Shen (2016) - acting for joint venture partner in dispute regarding alleged embezzlement of $242m in Chinese property investment in California, claim for ownership of two super cars: 1963 Ferrari GTO and 1998 McLaren F1; counter allegations of duress.
Re P (2009) - claim by leading fine art dealer concerning the sale of forged works of fine art and antique furniture.
Parktown Capital v Wilson (2008) - injunction against former director for misappropriation of intellectual property and business opportunities in relation to large scale property development opportunities in the UK, the Middle East and the Far East.
Titan v Passini (2008) - £10m claim for damages and injunctions following senior director of Italian manufacturing company’s departure with theft of confidential information and soliciting of key senior management and clients.
Primus Telecommunications v Kumar (2007) - claim for £3m re large telephone card fraud, tracing, proprietary interest in assets acquired, forex remittance of proceeds of fraud, forged documents, fiduciary relationship of employee, use of asset preservation order for legal expenses.
UGC v Close Brothers (2005) Ch D - £178m claim in damages for deceit from ex-directors of Partco re acquisition of listed company by Unipart in 1999.
LTE Scientific v Thomas  EWCH 7 (QB);  All ER (D) 9 - Injunction to prevent destruction of computer files, contempt of court, need for personal service, whether defendant had deliberately interfered with the administration of justice.
Charter v City Index (2005) - £9m knowing receipt claim for stolen moneys gambled on spread betting.
TCF v Bilgin  EWHC 2732;  All ER (D) 47 Comm Court - Freezing Injunction, Chabra jurisdiction, C Inc, freezing funds owned by off shore companies controlled by defendant, claim for £3m.
Grimstead v McGarrigan (1999) Court of Appeal - misrepresentation, entire agreement clauses, UCTA.
AB International Holdings v AB Clearing  EWHC 2196 (Comm) - application for injunction under section 44 of the Arbitration Act 1996 to protect profit share under joint venture agreement.
Amtrust Europe v Trust Risk Group  EWHC 1927 (Comm) - application for anti-arbitration injunction with regard to Italian arbitration brought in breach of an English exclusive jurisdiction clause.
Palmerston v Brocket Hall (UK) Ltd (2016) [Commercial/Arbitration; application for injunction under section 44 of the Arbitration Act 1996 to prevent termination of hotel management contract in relation to the well known luxury gold resort, Brocket Hall.
Re MFB (2013) - appointed arbitrator over insurance claims arising from Hurricane Ike in Houston, Texas.
Re TI (2012) - appointed arbitrator over insurance claims arising from Hurricane Ike in Houston, Texas.
Re C (2012) - appointed arbitrator over insurance claims arising from Hurricane Ike in Houston, Texas.
Re O (2011) - appointed arbitrator over insurance claims arising from Hurricane Ike in Houston, Texas.
Re H (2011) - appointed arbitrator over insurance claims arising from Hurricane Ike in Houston, Texas.
Re C (2011) - appointed arbitrator over insurance claims arising from Hurricane Ike in Houston, Texas.
Re V (2010) - appointed arbitrator over insurance claims arising from Hurricane Ike in Houston, Texas.
S v B (2010) - LCIA Arbitration concerning supply agreement of hi-tech medical equipment to eastern Europe.
PP v SI (2009) - dispute concerning construction of arbitration clause in a deed of accession.
Re C (2008) - acting as LMAA arbitrator in dispute over maritime joint venture agreement.
EM v TI (2006) - Acting as arbitrator over title to sue dispute arising from charterparty on Asbatankvory Form.
T v O (2006) - dispute over consultancy agreement between former partner and professional services firm.
Re A (2006) [UNCITRAL Arbitration: $500m dispute over oil exploitation rights in Azerbaijan.
Re NP (2005) [UNCITRAL Arbitration: $29m dispute over oil exploitation rights in Russia.
S v K (2003) - breach of license for computer software supplied to a bank – including application to Court to remove arbitrator for misconduct.
H v S (2002) - dispute over option for supply of sugar.
Paul advises and acts for clients in media issues particularly affecting sport and the press. Areas of particular experience and expertise include applying for and resisting urgent injunction applications, advising on contractual and confidentiality issues, intellectual property and professional tribunal work.
Di Resta v Hamilton (2013) – acting for Paul Di Resta in dispute with former F1 management company, HMG, and Anthony Hamilton (father of Lewis Hamilton).
Jeeg v Hare  AER (D) 52 - Claimant company victim of alleged slander as to its solvency; Defendant offering undertaking, application to strike out under Jameel jurisdiction.
Cho & Others v Tong (2009) - substantial defamation action arising from allegation of electoral fraud by London based Korean newspaper.
Soo Kim v Tong (2009) - substantial defamation action arising from allegations of fraud and sexual impropriety by London based Korean newspaper.
Dimmock v Secretary of State for Education  1 AER 367 - judicial review of decision to distribute Al Gore’s film “An Inconvenient Truth” to UK secondary schools, whether a breach of ss.406-407 Education Act 1996.
Venture Investment Placement v Hall  All ER (D) 224 - injunction to restrain breach of confidence; whether there can be confidence in iniquity.
Hall v Pertemps  All ER (D) 315 - confidentiality, security for costs; company co-claimant with natural person; allegations of maintenance.
DTI v Goldberg & McAvoy  EWHC 2843 (Ch);  1 BCLC 597; Ch - Crystal Palace Football Club Directors’ Disqualification; directors’ duties; company law.
In Motion v Palau & Others (2002) Ch Div - claim for £9m re breach of warranty on sale of film company valuation of rights to “Serpent’s Kiss” and other films/rights.
Igennex v Galaxy  EWHC 1674 - injunction to protect confidential information, passing off.
ED&F Man v Fluxo Cane (No.2)  EWHC 212 (Comm) - derivatives, as per No.1 below: brokers right to close out for non-payment of margin and on grounds of self-protection.
ED&F Man v Fluxo Cane (No.1)  EWCA Civ 406 Court of Appeal - derivatives, $25m claim by sugar brokers for unpaid sums under brokerage agreement; counterclaim for substantial damages arising from alleged breaches of the FSA rules and negligence in closing out the client’s positions on certain derivatives contracts.
Amtrust Europe v Trust Risk Group  EWCA Civ 437 - claim against Italian insurance broker for misappropriation of €32m premiums. Whether UK Courts had jurisdiction under art 23 of the Judgment Regulation.
Retained by Sweet & Maxwell to write major new textbook: “Downes on Banking Law” due for publication 2020.
Acting as counsel and/or arbitrator in LMAA, LCIA, UNCITRAL and general arbitrations concerning oil and oil exploration, cocoa, sugar, grain, insurance, carriage of goods by sea, hi-tech medical equipment, computer software and professional services.

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