August – News UpdateAug 2019
July 2019Jul 2019
Rachel Turner’s analysis of a recent case dealing with issues of collateral use and forum conveniens in a conspiracy claim (ED&F Man v Come Harvest) was published by Lexis®PSL on 10 July 2019. A copy can be found here
PCB has been top-ranked by Chambers & Partners Litigation Support for Asset Tracing and Recovery, Global-wide. PCB is described as “an outstanding boutique litigation firm with a great deal of expertise in cross-border asset tracing and recovery matters. Especially known for its innovative approach in dealing with cases stemming from Russia and the CIS nations, PCB has garnered a reputation for thriving on "slightly quirky, more challenging cross-jurisdictional cases." The firm is a member of ICC FraudNet, utilising the network to great effect in managing global disputes.” Market sources were quoted: "They're relentless and just don't give up. They're very innovative." "They are absolutely outstanding. They are the best for asset recovery, true specialists - a top-tier firm." Read More
PCB succeeds in Libyan Investment Authority claimJun 2019
PCB Litigation has succeeded in halting a high profile claim against its client, Mr Giahmi. In a judgment handed down today, the Commercial Court found that the claim brought by the Libyan Investment Authority against Mr Giahmi was time barred and that there had been a serious breach by the Libyan Investment Authority of its obligation to give full and frank disclosure when it applied for permission to serve the claim on Mr Giahmi out of the jurisdiction.
Anthony Riem said "It was a bold strategy to seek to dispose of a very substantial case at the outset, but we had the right team in place to see it through."
The PCB team of Anthony Riem, Trevor Mascarenhas, Rachel Turner, Jonothan Gould and Caitlin Foster instructed Alan Gourgey QC and Anna Littler of Wilberforce Chambers and Adam Kramer of 3VB. For more information, please contact Anthony Riem at firstname.lastname@example.org or Trevor Mascarenhas at email@example.com.Read More
PCB named Asset Recovery Firm of the YearMay 2019
PCB Litigation has been named by Who's Who Legal as Asset Recovery Firm of the Year for 2019. Celebrating its 40th anniversary this year, PCB would like to thank its staff, clients and colleagues worldwide for their continuing support which has enabled it to gain this global recognition.
Those 40 years have seen major developments in the tools available to practitioners in seeking to trace and recover stolen assets. PCB has been fortunate to be involved in some of the cutting edge cases, expanding the availability of freezing, disclosure and search orders in England and other jurisdictions, as well as being founding members of ICC FraudNet and the Commercial Fraud Lawyers Association.
The years ahead will bring further challenges with the increasing sophistication of structures used by fraudsters to conceal their assets. We are confident that asset recovery lawyers can make a real difference, recovering stolen assets and the proceeds of corruption.Read More
PCB obtains Freezing and Search Orders in “one of Russia’s biggest ever alleged bank frauds”Apr 2019
PCB’s litigation team has assisted Vneshprombank in obtaining extensive Worldwide Freezing, Search, Disclosure and Passport Surrender Orders against Georgy Bedzhamov. The Orders were granted by the English High Court, freezing Mr Bedzhamov’s worldwide assets up to £1.34 billion.
Vneshprombank collapsed and its liquidator, the Deposit Insurance Agency subsequently discovered what it believed to be an extensive fraud, which included suspect loans to shell companies alleged to be connected to Mr Bedzhamov. Mr Bedzhamov is facing separate criminal proceedings in Russia relating to the collapse of the bank.
The Freezing and Search Orders enabled premises alleged to have been used by Mr Bedzhamov to be searched. He has been ordered not to leave England and Wales, and been made subject to personal spending caps. Assets frozen by the English Court include a range of international assets such as apartments, other properties and holding companies which are all alleged to belong to Mr Bedzhamov.Read More
April 2019Apr 2019
February 2019Feb 2019
PCB litigation (led by Steven Philippsohn) were recommended by Leaders League as one of the Best Law Firms specializing in Commercial Litigation in the UK.
In a judgment handed down on 7 February 2019 dismissing a US$100 million claim, PCB Litigation successfully defended its client against claims that he had breached his fiduciary duties to the claimant and unlawfully conspired with his co-defendant to injure the claimant. For more details, please click here
PCB Litigation has been retained by a global supplier of insurance products in their pursuit of claims against rogue traders.
PCB Litigation are advising South American clients in respect of forex manipulation claims in excess of $100m. Read More
QATCOM LLC V STEPHEN DEREK JONES AND OTHERSJan 2019
January 2019Jan 2019
PCB Litigation successfully obtained judgment in a dispute concerning the ownership and use of a client’s electronic assets including its valuable domain.
Natalie Todd’s analysis of a recent case concerning the form of words routinely adopted into the standard form freezing order was published on the Asset Recovery Next Gen Hub on 29 November 2018. A copy can be found here.Read More
Triple Success for PCB LitigationNov 2018
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.Read More
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."Read More