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Triple Success for PCB Litigation

Nov 2018
Fraud updates

PCB Litigation is delighted to share last week’s triple success. We have continued to be highly ranked in Legal 500 and Chambers & Partners – including in Tier 1 for civil fraud work where we are described as "an absolute go-to for complex, high value multi-jurisdictional commercial fraud claims”, and we have also been listed as a ‘Best Law Firm’ by The Times.

"Amongst the accolades for our partners, who are all recommended, very able, accomplished and experienced fraud litigator” Anthony Riem and “go-to for complex fraud matters” Trevor Mascarenhas are both recognised as leading individuals for civil fraud. Meanwhile, Nick Ractliff is described as “dedicated and thorough” and Jon Felce, who is singled out as a next generation lawyer for banking litigation, is a “calm and collected presence”.

We are very grateful for your continued support for the firm and kind comments, and look forward to sharing our continued success with you in the future.

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November

Nov 2018
PCB news

Jon Felce spoke on the subject of ‘Obtaining information in fraud and asset recovery litigation’ at the Serle Court International Trusts and Commercial Litigation Conference in New York.


PCB Litigation has been retained to advise in connection with a substantial contractual dispute.


PCB Litigation has maintained its tier 1 ranking for civil fraud in Chambers & Partners, being described as skilled at obtaining global interim relief, asset tracing and dealing with jurisdictional issues that arise from cross-border cases. . One source was quoted as describing PCB as "an absolute go-to for complex, high-value multi-jurisdictional commercial fraud claims", whilst another source said: “If you have a fraud case, these guys are as experienced as you're going to get." Steven Philippsohn is said to be “enormously experienced, can take a broad view and is very good at engaging with foreign clients." Anthony Riem is “a very able, accomplished and experienced fraud litigator, who understands completely the needs of the client and makes tactically astute calls in complex cases." Trevor Mascarenhas is described as a "go-to for complex fraud matters," and "incredibly tactically astute and very bright, with a deep understanding of how to conduct cross-border litigation."

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October

Oct 2018
PCB news

PCB Litigation has been identified by The Times as a leading law firm in the field of “financial crime & fraud & regulatory”.


PCB Litigation maintained its top tier Civil Fraud ranking in the Legal 500 as well as being ranked in Commercial Litigation and Banking Litigation. PCB is said to offer “unrivalled boutique expertise in the field of fraud”, headed by Steven Philippsohn “a lateral thinker extraordinaire” who “can see brilliant points outside the box.” Anthony Riem is said to have “a marvellous rapport with clients,” with Trevor Mascarenhas joining Steven and Anthony in being ranked as a leading individual. Jon Felce, described as “a calm and collected presence” is also ranked as a next generation lawyer in the field of banking litigation, where both he and Nick Ractliff are said to be “dedicated and thorough”.


For the second year in a row, Steven Philippsohn and Trevor Mascarenhas have been recommended for litigation by Who’s Who Legal, out of only 35 English solicitors selected. The directory said: “PCB Litigation’s Trevor Mascarenhas is a distinguished name in the English litigation market who sources give high praise to in our research this year. He is particularly adept on cross-border asset-tracing and real estate litigation. Steven Philippsohn is a well-respected figure in the litigation space, with sources praising his wealth of expertise on asset recovery matters.”


In an unusual judgment, the Court of Appeal allowed an appeal brought by PCB Litigation by which the opposing party was required to increase the amount of security for costs it had previously been ordered to provide to our client.

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September

Sep 2018
PCB news

Steven Philippsohn, Anthony Riem and Trevor Mascarenhas were listed as Thought Leaders by Who’s Who Legal Asset Recovery 2018 for EMEA (Onshore Jurisdictions), with Steven and Anthony in the top three for the region and the top two for London. Nick Ractliff was also recommended, whilst PCB Litigation itself was described as “exceptional”.


PCB Litigation has been instructed to defend a number of claims brought by a sovereign wealth fund.


PCB Litigation has been instructed to act for one of the partners in relation to the break-up of an international business involving disputes in Switzerland, Cyprus and England.

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August

Aug 2018
PCB news
Jon Felce’s analysis of a recent case concerning extending time for service of claims was published by Lexis®PSL on 3 August 2018. A copy can be found here. Read More

English Court extends ambit of claims for transactions defrauding creditors

Jul 2018
Fraud updates
The recent decision of the English Court of Appeal in Orexim Trading Limited v Mahavir Port and Terminal Private Limited has confirmed the existence of another tool in the fight against fraudsters, enabling victims of fraud and insolvency practitioners alike to pursue overseas targets who have been involved in transactions entered into at an undervalue and for the purposes of putting a company’s assets beyond the reach of its creditors. The claim was based upon a series of transactions pursuant to which an Indian company, MPT, had sold a vessel to a Singaporean entity, which then on sold the vessel to another Indian entity. These were all alleged to be transactions at an undervalue entered into for the purposes of putting the vessel beyond the reach of MPT’s creditors. In those circumstances, section 423 of the Insolvency Act 1986 allows the Court to grant relief for the benefit of victims. The issue facing the Court in the Orexim case was whether the foreign defendants could be served with proceedings under section 423, as prior decisions had suggested that this could not be done. The Court confirmed that it did have the power to permit service on foreign parties of a section 423 claim. Its judgment made clear that the ability to proceed against foreign parties is subject to important safeguards, namely that there needs to be a sufficient connection with England and that England is the appropriate forum for the claim. The court must be scrupulous to ensure that these safeguards are rigorously applied, and in the Orexim case, the Court did not consider that they had been met. Read More

July 2018

Jul 2018
PCB news
At the recently announced 2018 Lawyer Awards, PCB Litigation was commended in the Boutique Firm of the Year category for its high-profile, high-value work over 2017 and 2018 and identified by the judges as “one to watch”.
PCB Litigation has been retained to advise European Liquidators in relation to funding and legal assistance to bring substantial multi jurisdictional claims. Read More

June 2018

Jun 2018
PCB news
Anthony spoke at the International Conference of the Fraud Lawyers Association on litigating in the eye of the media.
Steven spoke on the topic of Managing International Litigation at the KNECT 365 Conference on Asset Recovery in Singapore.
Jon Felce’s analysis of a recent case concerning the purpose of the ‘slip rule’ was published by Lexis®PSL on 31 May 2018. A copy can be found here. Read More

May 2018

May 2018
PCB news

PCB Litigation has successfully obtained a US$180 million judgment on behalf of a financial institution and an order that the defendant pay its client’s costs on an indemnity basis, having persuaded the Court that the defendant deliberately gave misleading evidence at trial.


PCB Litigation is delighted to announce that its Senior and Founding Partner, Steven Philippsohn, has won the prestigious Who's Who Legal Asset Recovery Lawyer of the Year Award, presented at an awards ceremony in London on 8 May 2018.


Jon Felce was invited to join Lexis®PSL’s Case Analysis Expert Panel on Dispute Resolution. His first piece was published by Lexis®PSL on 30 April 2018 and can be found here.

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April 2018

Apr 2018
PCB news

Steven Philippsohn accepted an invitation to address 35 of India's leading Bankers on the topic of International Asset Recovery. The meeting took place at the offices of the Indian Bankers Association in Mumbai on 25th April.


PCB Litigation is delighted to confirm the successful resolution of a substantial bitcoin dispute in full.

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March 2018

Mar 2018
PCB news
Jon Felce was interviewed by LexisNexis on tracing and freezing large-scale stolen bank funds when the perpetrators are unknown: see here Read More

February 2018

Feb 2018
PCB news
PCB Litigation has recovered the proceeds of a fraud committed against one of its clients who had been duped into transferring monies following the hacking of an email account. PCB did so by obtaining an Order against a major retail bank requiring that bank to hand over the proceeds of the fraud.
For the third time in five years, one of PCB Litigation's cases has made The Lawyer's Top 20 Cases of the year. Trevor Mascarenhas and Sarah Kuper of ‎PCB act for TPG Europe and 33 related respondents to a €1bn claim alleging two of the world's largest private equity houses entered into a refinancing transaction with intent to put assets beyond the reach of creditors. The trial is scheduled to last most of February and March 2018.
PCB Litigation has been retained in relation to a multijurisdictional $300m nickel fraud claim.
Jon Felce’s article on “Defeating dissipation: recent legal developments” was published in a special report on Corporate Fraud and Corruption by Financier Worldwide Magazine: see here. Read More