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November 2017

Nov 2017
PCB news
PCB Litigation has been retained in relation to a multi-million pound tax fraud case, involving a number of jurisdictions and allegations of nominee ownership of assets.
PCB Litigation has been retained by a global organisation in relation to investigations arising from allegations of bribery and corruption.
PCB Litigation has been retained by a Government Authority to pursue recovery claims in multiple jurisdictions.
PCB Litigation continues to be ranked by Chambers & Partners as a top tier firm for Civil Fraud, with Steven Philippsohn, Anthony Riem and Trevor Mascarenhas all highly ranked for both Civil Fraud and Litigation.
Jon Felce was this week’s Lawyer in the News in The Law Society Gazette: see here Read More

PCB Litigation obtains maximum prison sentence against contemnor defendant

Oct 2017
Fraud updates
On 19 October 2017, and following a string of prior successes for the Bank of Moscow (see here and here), PCB Litigation has obtained a rare maximum two-year prison sentence against Russian judgment debtor Andrey Chernyakov. The sentence was handed down for several contempts of Court by Mr Chernyakov arising out of breaches of worldwide freezing and related asset disclosure orders against him. Mr Chernyakov’s wife, Anastasia Erokhova, was also sentenced to a significant period of imprisonment for similar breaches. The decision also confirms that the standard Commercial Court injunction wording covers not only assets beneficially owned by the subject of a freezing order, but also assets directly or indirectly controlled by that person, and therefore that it can extend to the assets of a company of which the respondent is the sole shareholder. Jon Felce, the PCB Litigation Partner with primary conduct of the committal proceedings, stated: “The decision in this case serves to re-emphasise that the English Courts treat compliance with worldwide freezing and asset disclosure orders extremely seriously, and that the flagrant flouting of such orders will not be tolerated.” PCB Litigation acts for the Bank of Moscow. The team consists of Anthony Riem, Nick Ractliff and Jon Felce of PCB Litigation, together with Counsel Tim Penny QC and Tim Akkouh. Read More

Double success for PCB Litigation

Oct 2017
Fraud updates
PCB Litigation is delighted to share with you a double success achieved last week. Not only has PCB Litigation continued to be highly ranked in Legal 500 – including in Tier 1 for civil fraud work – with all five partners being recommended, but we have been shortlisted for Specialist Law Firm of the Year in the prestigious British Legal Awards. The partners are extremely appreciative of your continued support for the firm. Our dual recognition is a reflection of the continued strength and growth of PCB Litigation. In The Legal 500, we maintained our top tier ranking for civil fraud – being described as “a niche firm which has built up an outstanding reputation in the civil fraud field”, “punching well above its weight” and providing “pragmatic, current and appropriate advice on all fronts” – with Anthony Riem again recognised as a leading individual. PCB Litigation also continues to be ranked highly for both commercial and banking litigation, having “expanded its disputes scope beyond the civil fraud arena to include complex commercial litigation work”, with an array of accolades going to our partners. Anthony Riem “gives sensible and measured advice” and is “a shrewd tactician and a great fighter”. “Wise and sharp” and “encyclopedic” Trevor Mascarenhas has “strong business acumen and gives appropriate advice”, Nick Ractliff “is well regarded for shareholder and joint venture disputes, unfair prejudice matters, and breach of fiduciary duty claims” and Jon Felce is also recommended as a key contact. Read More

October 2017

Oct 2017
PCB news
PCB Litigation have been retained on behalf of a Government agency to pursue claims of up to £2bn in numerous jurisdictions against various Defendants. Read More

September 2017

Sep 2017
PCB news
PCB Litigation has obtained recognition of a foreign liquidation and associated relief pursuant to the Cross-Border Insolvency Regulations.
PCB Litigation’s partner Trevor Mascarenhas has been identified by Who’s Who Legal in a list of 37 leading litigators at English law firms.
PCB Litigation has been retained by a global organisation to pursue claims against several Defendants who misappropriated hundreds of $m. Read More

PCB Litigation recognised as a “standout firm in the London market” by Who’s Who Asset Recovery 2017

Jul 2017
Fraud updates
Who’s Who Asset Recovery 2017 has described PCB Litigation as a “specialist fraud boutique” and a “standout firm in the London market”. Anthony Riem and Trevor Mascarenhas are both named in the list of 8 leading solicitors in the UK in asset recovery.
  • PCB is described as having “a strong track record in high-profile recoveries”.
  • “The “fantastic” Anthony Riem is a highly rated operator with over 20 years’ experience assisting corporate and financial institution clients with international asset tracing and recovery actions.”
  • “Completing the firm’s offering, Trevor Mascarenhas is well versed in multi-jurisdictional asset recovery and emerges as one of the top names in London.”
Read More

July 2017

Jul 2017
PCB news
PCB Litigation has been instructed by a former director of an international consumer goods distribution company in connection with substantial deceit claims.
PCB Litigation has been instructed by an international education provider in relation to a dispute with some of its former employees. Read More

Partnership Appointment

Jun 2017
Latest news
PCB Litigation is delighted to announce that Jon Felce has joined the partnership on 1 June. Since joining the team in 2014 from a leading international firm, Jon has obtained a number of extremely successful results for his clients including a series of ground-breaking orders. Jon has significant experience in complex, high value domestic and cross-border commercial litigation and fraud and asset recovery disputes, and is a welcome addition to PCB Litigation's industry-leading partners. PCB Litigation’s Senior Partner, Steven Philippsohn, said: “We are delighted that Jon has accepted our invitation to join the Partnership. Jon`s outstanding ability has already made him a “go to” lawyer in the complex litigation area in which we practice.” Jon Felce commented: “I am extremely pleased to be joining the partnership at PCB Litigation. Given the firm’s fantastic reputation, this is a real honour and I look forward to continuing to contribute to the success of the practice.” Read More

“Cracking” down on defendants: further ground-breaking orders obtained by PCB Litigation

May 2017
Fraud updates
Hot on the heels of successfully obtaining the first reasoned judgment concerning the jurisdiction to grant a search order against a third party - see here - PCB Litigation has obtained two further ground-breaking orders which will substantially add to the weapons available to victims of fraud seeking to recover assets. The background is set out in our update of 28 November 2016 - see here - when Russian Judgment debtor Andrey Chernyakov was forced to allow bailiffs to enter his London homes to search for and seize his assets. Amongst the items seized were a number of electronic devices. Very shortly after, we successfully applied for an order that these devices be imaged so that they could be reviewed for information on assets. This order was obtained without notice to the Defendants and others claiming that the devices belonged to them, and the first three months of the review exercise similarly took place without notice to these individuals. Once the imaging had taken place and the review commenced, we obtained at short notice an order permitting software to be run to “crack” password-protected documents so that they could be reviewed. These two orders are ground-breaking and a fundamentally important new development in the fight against fraud. PCB Litigation acts for the Bank of Moscow. The team consists of Anthony Riem, Nick Ractliff and Jon Felce. Read More

May 2017

May 2017
PCB news
PCB Litigation is advising in relation to a significant bitcoin dispute.
PCB Litigation has been retained to act for a company holding valuable oil and gas interests, which were the subject of a transfer that is being disputed in the Commercial Court.
An article in Legal Futures, based on a report released by Premonition, names PCB Litigation as one of 7 law firms to have a 100% success rate in the Chancery Division of the High Court over the last 3 years (minimum 5 cases). The Chancery Division hears a variety of cases including those involving fraud, company and trust disputes and insolvency cases, areas in which PCB Litigation is very active.
PCB Litigation has been instructed on behalf of an international logistics company in relation to a contractual dispute. Read More

April 2017

Apr 2017
PCB news
PCB Litigation has been instructed on behalf of a Bank to pursue claims in respect of a loan which was obtained by fraud.
PCB Litigation has been instructed to advise a major UK company in relation to various contractual and other issues arising out of a share sale agreement.
PCB Litigation has been instructed to bring claims arising out of the collapse of a property investment.
PCB Litigation has been instructed to defend claims in relation to an international joint venture dispute
PCB Litigation has been instructed in relation to a multi-million dollar investment and property dispute involving a factory and its relocation.
PCB Litigation are retained in an action to set aside enforcement of a US$150m Arbitration Award.
PCB Litigation has accepted an invitation to advise a consortium of major Asian Banks on the jurisdiction of the English Courts to grant interim relief in support of foreign proceedings.
PCB Litigation are advising an investment fund in relation to the enforcement of an award against a European State. Read More

First ever search order against a third party granted: the Chabra moment for search orders

Mar 2017
Fraud updates
Amongst the wide array of tools available in the English Courts for intended and actual claimants are what have been described as the law’s two nuclear weapons, freezing injunctions and search orders. Since the seminal case of Chabra, Courts have been willing to grant freezing orders not just against defendants, but against third parties against whom no claim is advanced but who appear to hold assets on behalf of the defendant. Yet in the quarter of a century since Chabra, and until very recently, no case seems to have tried to use the search order jurisdiction in a similar way. The matter of Abela and others v Baadarani (Third Party: Fakih) [2017] EWHC 269 (Ch) – in which PCB Litigation act for the Claimants - has now achieved that. The background to the case is as follows. In 2009, the Claimants commenced proceedings against Mr Baadarani and another defendant. There then followed a jurisdictional challenge by Mr Baadarani, culminating in what is the leading case regarding alternative service out of the jurisdiction (Abela and others v Baadarani [2013] UKSC 44). Following the Supreme Court’s rejection of Mr Baadarani’s jurisdictional challenge, the matter then proceeded until, in June 2015, judgment was entered against Mr Baadarani in a sum of over US$20 million following his failure to comply with a number of unless orders. As part of enforcement efforts, and having obtained a worldwide freezing order against Mr Baadarani the day before, PCB obtained a number of third party disclosure orders, including against a bank and the Respondents to the Search Order obtained shortly after. In response to the disclosure orders, the bank provided considerably more documents than the Respondents had, and the disclosure that was provided suggested that the Respondents had conspired with Mr Baadarani to backdate an asset statement. This was in fact created in 2015 and backdated to 2013. As a result, we successfully applied on a without notice basis for a search order against the Respondents for relevant documents in their possession. That application was granted on 21 April 2016 (Abela and others v Baadarani (Third Party: Fakih) [2016] EWHC 971 (Ch)) following our argument that, like Chabra some 25 years earlier, an order could be granted against parties against whom no cause of action was being pursued. At a hearing in February 2017, we successfully resisted the Respondents’ attempts to challenge the Court’s jurisdiction to grant the relief obtained by the Claimants. The Court’s decision is to be welcomed as confirming the existence of yet another tool in the litigator’s armoury. Trevor Mascarenhas and Jon Felce act for the Claimants in this matter. Read More