Source: https://www.20essexst.com/member/stephen-atherton-qc
Timestamp: 2019-04-24 01:53:35+00:00

Document:
Stephen is every bit as good as his richly deserved reputation, and has a great manner to boot.
Stephen Atherton QC was named as Insolvency / Corporate Restructuring Silk of the year at the Chambers Bar Awards 2014.
Stephen became a member of 20 Essex Street in January 2012. Stephen's practice comprises: international and domestic corporate insolvency and restructuring; civil aspects of international and domestic commercial fraud; personal insolvency, company law; banking, general off-shore and international commercial litigation, and international and domestic asset tracing. Stephen is currently representing the trustees of the insolvent estate of the late Mr Boris Berezovsky (having previously been instructed on behalf of the Court appointed receivers and general administrators of that estate).
Stephen has considerable experience in commercial litigation, civil fraud and contentious insolvency proceedings in the UK, Hong Kong, Brunei Darussalam, Malaysia, Singapore, the Cayman Islands, Bermuda, British Virgin Islands, Jersey and the Isle of Man including: successful litigation to recover billions of dollars of state assets on behalf of the Brunei Investment Agency and the Government of Brunei Darussalam.
Stephen is recommended in: "Chambers & Partners", "Chambers Global", "The Legal 500", "Legal Experts", "Who's Who Legal", "The World's Leading Restructuring Lawyers", "The International Who's Who of Insolvency & Restructuring Lawyers", "The International Who's Who of Business Lawyers" and "The Best Lawyers in the United Kingdom".
Re Gertner; CFL Finance Ltd v Rubin  EWHC 111 (Ch), a significant challenge to a voluntary arrangement proposed by a property tycoon once ranked amongst Britain's richest individuals - alleged £600 Million in debt to 31 creditors including Kaupthing Bank and CFL; Ronelp Marine Ltd v STX Offshore & Shipbuilding Co Ltd  EWHC 2228 (Ch), a successful application to lift a stay of the Commercial Court action imposed under the Cross-Border Insolvency Regulations following the Defendant entering into Korean insolvency proceedings; Glasgow Rangers FC, acting for and advising the liquidators of the company in relation to various proceedings; The Hillsborough Disaster acting for the company that formerly owned Sheffield Wednesday Football Club and the Hillsborough stadium; Globo Plc, acting for the company and the company's administrators; Washington Special Opportunity Fund Limited, acting for the fund in the successful defence of a winding up application in the Cayman Islands; African Minerals, acting for the principal lender to the company in relation to its ability to enforce its security over assets situated outside the UK; Phones 4U, acting for the security trustee in relation to the company's insolvency and in relation to ability of the administrators of the company to deal with assets subject security; OAS Group, acting for bondholders in relation to the restructuring of the Brazil based corporate group; Southsea Mortgage and Investment Company Limited, represented the Bank of England on the successful application for the making of the first ever bank insolvency order; Assetco Plc, on behalf of the company, sought and obtained an interim mandatory injunction against the company's CEO requiring him to vote in favour of a £16 million share placement; Re Petrus (Kinnerton Street) Limited, acting on behalf of Gordon Ramsay and related companies in relation to a dispute as regards the ownership of the restaurant "Petrus"; The Saad Group, on behalf of the liquidators of a number of the Cayman Islands incorporated companies); Cattles Group, on behalf of the proposed administrators; Connaught Group, on behalf of the companies; Portsmouth City FC, on behalf of one of the club's former owners); SPhinX (acting on behalf of the Liquidation Committee and individual members of the Liquidation Committee; Bernard Madoff, acting on behalf of the joint liquidators of "feeder funds" based in the British Virgin Islands and for investors in other funds based in the Cayman Islands; Pioneer Freight Futures Limited, acting for the liquidators of one of the world's largest freight futures traders in both England and the British Virgin Islands; Value Discovery Partners, acting for the liquidators in relation to a solvent dissolution of a BVI limited partnership; The Dawnay Day Group, acting on behalf of the liquidators of a number of group companies; The Mall Funding Plc, acting on behalf of the group companies in relation to their restructuring; Lehman Brothers, acting on behalf of the liquidators of the Hong Kong companies and in the UK for the company's landlords and various counterparties, clients and creditors of the Lehman group; Gallery Capital SA and Gallery Media Group Limited, advising and representing the companies as regards their restructuring, COMI migration and schemes of arrangement; Landsbanki, on behalf of senior management of the bank's London branch; Kaupthing Bank, on behalf of a number of counterparties to "repo" transactions; Wind Hellas, acting for bondholders in relation to the company's restructuring; Countrywide Plc, acting for bondholders in relation to the company's restructuring; British Vita Plc, acting for the company in relation to its restructuring and scheme of arrangement; Kaupthing Bank, on behalf of various depositors and counterparties); Northern Rock (on behalf of the proposed administrators; Olint TCI Corporation, acting for the liquidator of the company brought down by a massive "Ponzi" fraud in the Caribbean); Eurotunnel, on behalf of bondholders; Jarvis Plc, on behalf of the group's major creditors; MG Rover, on behalf of the administrators; MyTravel Plc, on behalf of bondholders; British Energy, on behalf of major creditors; Railtrack Plc, on behalf of the Special Railway Administrators; Leeds United AFC, on behalf of the financers of a proposed rescue bid; Boston United FC, on behalf of the owners; Bradford City FC, on behalf of one of the club's major "football creditors"; Crystal Palace FC, on behalf of the club's bankers; Oxford United FC, on behalf of the club in relation to its CVA; Meridien Hotels , on behalf of the group companies; TXU Europe, on behalf of major creditors of the group; ITV Digital, on behalf of the company and the company's Administrators; ntl, on behalf of the company in relation to its restructuring; Enron, on behalf of the Administrators of the group companies; Cammell Laird Plc, on behalf of the administrators; Marconi Plc, on behalf of the companies bankers and bondholders; Global Crossing, on behalf of several group companies in the UK and Hong Kong; Energis Plc, on behalf of the company and the company's administrators; numerous schemes of arrangement, representing companies and creditors in relation to both solvent and insolvent schemes of arrangement across a variety of business sectors including: insurance, industrial, reinsurance, energy and leisure.
Re Dragon Capital Limited, acting for the BVI incorporated company in relation to a shareholder dispute; Exor SPA v Partner Re Limited (Supreme Court of Bermuda), acting for the defendant company in relation to a hostile takeover bid; Sakrany v Portillo Holdings, acting for the directors of the company in proceedings commenced by an alleged shareholder of the company; Pioneer Freight Futures Limited v Chen, acting on behalf of the company / company's liquidators in relation to claims in the BVI for breach of fiduciary duty against the defendant; Global Energy Horizons Corporation v Gray  EWHC 3703 (Ch), acting for the defendant in relation to claims by the company for breach of fiduciary duty; Gudavadze v Carlina Overseas Company  6 JBVIC 1201, acting for the defendant company in a shareholder dispute in the BVI; DW Holdings Limited v Critical Logistic Support Limited, acting for the claimant shareholder in an "unfair prejudice" dispute in the BVI; Jemnice and EN SOF Property v European Real Estate Debt Sarl  EWHC 1642 (Comm), defence of an application to restrain the enforcement of security by a secured creditor and the application of the principle of "reflective loss".
Desiman Limited v Bank of Scotland PLC and Others, acting for the claimant company in relation to claims against the defendants for wrongful appointment of receivers, miss-selling of financial derivative products and LIBOR fixing; MF Global, advising a number of clients and counter-parties in relation to the consequence of the administration of the investment bank; Lehman Brothers, a number of clients and counter-parties in relation to the consequence of the administration of the investment bank and also acting for the provisional liquidators of the Lehman Brothers in Hong Kong; Kingate Global Fund Limited v Knightsbridge (USD) Fund Limited, on behalf of the liquidators of the Kingate funds issues concerning status of share subscription monies held by the liquidators; Debt "buy-backs", advising a number of borrowers on their ability to buy-back debt from their lenders; SphinX Group, advising and representing the Liquidation Committee and individual members of the Liquidation Committee in relation to various issues arising in the group companies' liquidations; Pioneer Freight Futures, advising the liquidators as to the construction of the freight forward contracts on ISDA terms; Re Whistlejacket Capital, on behalf of major investors / creditors; Sigma Finance, on behalf of major investors / creditors; Re Oval 1742 Limited, on behalf of the bank in defending its claims to monies repaid by the borrower as against Customs & Excise; Landsbanki; Kaupthing Bank; Northern Rock; Barings; BCCI, as above - advising in relation to a variety of banking and financial transactional issues.
Re Gertner; CFL Finance Ltd v Rubin  EWHC 111 (Ch): a significant challenge to a voluntary arrangement proposed by a property tycoon once ranked amongst Britain’s richest individuals - alleged £600 Million in debt to 31 creditors including Kaupthing Bank and CFL.
Ronelp Marine Ltd v STX Offshore & Shipbuilding Co Ltd  EWHC 2228 (Ch): a successful application to lift a stay of the Commercial Court action imposed under the Cross-Border Insolvency Regulations following the Defendant entering into Korean insolvency proceedings.
In re Elenin, decd; Lockston Group Inc v Wood  1 WLR 2091.
BG v BA (deceased)  EWHC 3947 (Fam): Joint application for the court to construe a financial remedies consent order to determine whether the wife or the estate of the late husband ought to discharge €9.2m of French tax charged against a valuable French property.
Wood and Hellard v Gorbunova : 5 Costs LR 713.
Re Washington Special Opportunities Fund Limited: defence of a winding up application in relation to a hedge fund in the Cayman Islands.
Lockston Group Inc v Wood  BPIR 94: defending a challenge to the appointment of the trustees to the insolvent estate of Mr Boris Berezovsky and dealing with the proper interpretation of the Administration of the Estates of Deceased Persons Order 1986.
Re Business Environment Fleet Street Ltd (in administration)  1 WLR 1167: operation of paragraph 72 of Schedule B1 of the Insolvency Act 1986.
Staray Capital Limited v Cha Yang  ECSC J0714-2: acting for the majority shareholder in relation to a shareholder dispute.
Re UK Coal Operations Ltd  1 BCLC 471: ability of the Court to disapply provisions of the Insolvency Act 1986.
Wood v Gorbunova  1 BCLC 487: powers of Court appointed receivers.
Jemnice and EN SOF Property v European Real Estate Debt Sarl  EWHC 1642 (Comm): defence of an application to restrain the enforcement of security by a secured creditor; interpretation of a facility agreement and consent order and the application of the principle of "reflective loss".
Riverbank Hotels Limited v City Centre Resources  EWHC 4249 (Ch): disputed winding up petition.
JSC VTB Bank v. Fobo Holdings Ltd BVIHC (COM) 117 OF 2013: setting aside of a freezing injunction on the grounds of no arguable case.
Saad Investments Company Limited v. Al-Sanea  EWCA Civ 313: appeal against dismissal of application to serve out of the jurisdiction in relation to proceedings to enforce a share option agreement.
Re FIA Leveraged Fund [2012 (1) CILR 248]: determination as to whether or not directors of a fund were entitled to distribute in specie to investors.
Assetco Plc v. Shannon  EWHC 816 (Ch): Successful application for an interim mandatory injunction requiring the CEO of an AIM listed company to cast his vote in favour of an equity placement in the applicant in order to generate necessary working capital.
Re The Sphinx Group of Companies [2010 (1) CILR 452]: appeared on behalf of the liquidation committee of the Sphinx companies in proceedings to determine the nature and extent of the jurisdiction of the Grand Court of the Cayman Islands to approve schemes of arrangement.
Kingate Global Fund Limited v. Knightsbridge (USD) Fund Limited  CA (Bda) 17: Appeared in the Supreme Court of Bermuda and in the Court of Appeal of Bermuda in proceedings to determine whether monies for the purpose of subscribing for shares in a "Madoff feeder fund" were held on trust by the liquidators of the fund for the benefit of subscribers.
Band One Sdn Bhd and the Brunei Investment Agency v. Sol Properties Incorporated and Prince Jefri Bolkiah [2008 CILR 301]: Successful application to the Grand Court of the Cayman Islands on behalf of the plaintiffs to recover the shares in the company that owns the New Palace Hotel.
Renewable Power & Light Plc v. Renewable Power & Light Services Inc  All ER (D) 170 (Apr): Effect of alleged repudiatory breach of contract on contractual obligations of confidence and production of documents.
Re Whistlejacket Capital Limited  EWHC 463 (Ch): Questions as to the proper interpretation of an insolvency acceleration clause in US medium term notes and the operation payment priority provisions contained in relevant security documents and their impact on the role and duties of receivers appointed pursuant to their terms.
Re Oval 1742 Limited (in Creditors' Voluntary Liquidation)  1 BCLC 204 (Court of Appeal): "Taking possession" of property subject to a floating charge and the proper construction of Section 196 of the Companies Act 1985.
Prince Jefri Bolkiah v. State of Brunei Darussalam  UKPC 62: Principles to be applied upon an application to recuse a judge for apparent bias.
Prince Jefri Bolkiah v. State of Brunei Darussalam  UKPC 63: Enforcement of a contract giving rise to questions concerning principles relating to estoppel, undue influence, specific performance and admissibility of evidence.
Chantrey Vellacott v. Convergence Group Plc  All ER (D) 492 (Jul): Basis for exercising the Court's jurisdiction under Section 51 of the Supreme Court Act 1981 to make non-party costs orders.
Re Continental Assurance Company of London Plc  2 BCLC 287: The leading case on wrongful trading.
State of Brunei Darussalam v. Prince Jefri Bolkiah  All ER (D) 354 (Jun): Basis upon which a committal application may be amended.
State of Brunei Darussalam v. Prince Jefri Bolkiah  All ER (D) 250 (Mar): Enforcement of order for disclosure made pursuant to Section 25 of the Civil Jurisdiction and Judgments Act 1982.
Re Mytravel Group Plc  2 BCLC 123 (CA): Guidance given as to the proper application of the Practice Statement applicable to schemes of arrangement under Section 425 of the Companies Act 1985.
Re Mytravel Group Plc  1 WLR 2365: The nature of a "reconstruction" under Section 427 of the Companies Act 1985.
Re Brightview Limited  BCC 542: Interests of nominee and beneficial shareholders under Section 459 of the Companies Act 1985 and the inter-action between the remedies available under that section and the principle of "reflective loss".
Re Railtrack plc (in railway administration)  All ER (D) 300: Approval of the remuneration of special railway administrators by the Court.
Winsor (as Rail Regulator) v. Bloom and Ors  1 WLR 3002 (CA): Application of Section 11 of the Insolvency Act 1986 (as modified by the Railways Act 1993) to the exercise of specific powers of the Rail Regulator.
LLB (Hons) (Lancaster), LLM (Cantab) (First Class).
Middle Temple: Harmsworth Entrance Exhibitioner; Astbury Scholar.
Magdalene College Cambridge: Bundy Law Scholar; Norah Dias Prize for Law.
"Interpreting schemes of arrangement: a Welcome intervention?": "Butterworth's Journal of International Banking and Financial Law" (2015) 8 JIBFL 500.
"What should administrators consider before seeking relief?": "Tolley's Company Law and Insolvency", Volume 14 Issue 6 (December 2014).
"More time for claims from the 'twilight zone'": "The Lawyer", 19 January 2014.
"A review of 2013 - How has the law relating to corporate restructurings and insolvencies developed over the course of the last year?": "LexisPSL Commercial", 11 December 2013.
Responsible for drafting the Practice Statement on insolvency officeholders' remuneration.
"Charges over chattels: issues in the fixed / floating jurisprudence": "The Company Lawyer" (2005) Vol 26 (No 1) p 10.
Member of the: the Association of Business Recovery Professionals ("R3"), the Insolvency Lawyers' Association, Restructuring and Insolvency Specialists Association ("RISA"), the Chancery Bar Association, the Commercial Bar Association and the Singapore Chamber of Maritime Arbitration.
"Issues of policy and principle in Cayman insolvency clawback claims": delivered in Grand Cayman to the Chancery Bar Association's 2016 Cayman Islands Conference.
"Prest for an Answer: piercing the corporate veil under English law": delivered to C5's 29th Forum on "Fraud Asset Tracing & Recovery", 2016 in Geneva.
"When to use the 'F word'": delivered to C5's 28th Forum on "Fraud Asset Tracing & Recovery", 2015 in Geneva.
"Navigating the Murky Waters of Fiduciary Duties": delivered at the Turnaround Management Association Annual Conference 2014 in Toronto.
"Issues for Directors in Corporate Insolvency": delivered to members of the Corporate, Litigation and Restructuring Departments of Mischon de Reya.
"Company Voluntary Arrangements: An Instrument of Corporate Rescue for Corporate Tenants or an Instrument of Torture for Landlords?": delivered to R3.
"Issues for Directors in the "Twilight Zone"": delivered to members of the Corporate, Litigation and Restructuring Departments of Weil, Gotshal & Manges LLP.
""Why guess when you can know... reality versus contextuality in the interpretation of contracts": delivered to members of the Recovery and Insolvency Specialist Association, Road Town, British Virgin Islands.
"Intercreditor Issues and Other Hot Topics": delivered to the Insolvency Lawyers' Association London Conference.
"Corporate and Business Rescue - the UK Perspective and Cross-Border Considerations": delivered in Amman Jordan to the "Workshop on the Draft Liquidation, Insolvency and Bankruptcy Code".
"The Good, the Bad and the Ugly" - member of discussion panel considering "pre-pack" administrations hosted by Ernst & Young LLP.
"Why all the fuss? - Approval of Insolvency Officeholders' Remuneration": delivered in London as part of the Hawksmere conference: "Current Issues in Insolvency".
"Getting Paid - Approval of Insolvency Officeholders' Remuneration": delivered to the 11th Annual Conference of the Association of Business Recovery Professionals ("R3") held at Lake Maggiore, Italy.
"Obtaining Approval for Corporate Office Holders Remuneration": delivered to the Insolvency and Litigation Departments of Clifford Chance Limited Liability Partnership.
"Financial Aspects of Corporate Moratoria": delivered to R3.
"Insolvency and Sport - How to Make a Small Fortune...": delivered to the Finance and Insolvency Departments of Latham & Watkins LLP.
"Funding Litigation in an Insolvency Context": delivered to the Insolvency and Litigation Departments of Herbert Smith.
"Legal Issues of Significance and Interest for E-business": delivered in Colombo, Sri Lanka to the Innovation, Security and Accountability in Information Technology seminar hosted by The British High Commission, The British Council and the Council for Information Technology (CINTEC).
"Law and the Internet": delivered to the Corporate and Litigation Departments of Skadden Arps Meagher & Flom LLP.
"Co-operation Between Insolvency Courts - The UK Perspective": delivered in Hong Kong to the Hong Kong Society of Accountants.
"Litigating in the Clients' Interest": delivered to the Litigation Department of Linklaters.
"The Art of War: Litigation Tactics in Large Commercial Disputes": delivered to the Litigation Department of Travers Smith.

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