Catherine Gibaud

Call 1996, B Bus Sc (Hons) (Actuarial Science); CPE (City University)
Email: cgibaud@3vb.com

Catherine Gibaud specialises in commercial litigation and advisory work. Catherine has particular experience in banking and finance, insolvency and restructuring, civil fraud and financial services/regulation and her practice also includes professional negligence disputes (involving solicitors, accountants, valuers, brokers and actuaries), insurance and indemnity/coverage disputes, asset tracing, restitution, injunctions, freezing and search orders and other interim remedies.

Catherine has been heavily engaged for the last few years in the J P Morgan v Springwell Navigation Corporation litigation, acting for JP Morgan in a counsel team led by Mark Hapgood QC and Adrian Beltrami QC, defending claims of c.$700million brought by Springwell against JP Morgan. The allegations against the bank included misselling of complex investments, negligent investment advice and misrepresentation, and raised legal issues which are highly relevant to current "credit crunch" claims, particularly those involving complex investments and/or derivatives. After a six month trial before Gloster J (one of The Lawyer's "Top 10" trials of 2007), Springwell lost on all its claims. Springwell's appeal on certain limited issues (including contractual estoppel and misrepresentation issues) is listed for 7 days in the Court of Appeal in June 2010.

Ranked as a leading junior in Banking and Finance (Chambers & Partners 2007-2010), Catherine is noted in the directories for her "first rate analysis" and "commitment and organisation" which was "much commented upon" during the Springwell litigation, in which she was instructed by Clifford Chance. Catherine is "recognised for her contributions in the Springwell case, where she undertook a part of the advocacy. Sources praise her performance as being one that demonstrates extreme commitment and a hard-working attitude". Described as "energetic and effective" it is noted that she "advises extensively on client banking issues" and is "highly prized for her work".(Chambers & Partners 2010).

Catherine has acted in several high profile commercial banking/insolvency and insurance disputes arising out of corporate collapses and frauds, including the Oracle Fund, the Navigator Group, the Daewoo Group, the BCCI/Bank of America fraudulent trading litigation and the Maxwell Group insurance litigation.

Catherine also has a wide range of experience in financial services and regulatory matters, and regularly advises on FSMA issues, claims relating to mis-selling, brokers' regulations, and professional negligence claims relating to IFAs, actuaries and pensions matters. In 2001, she was seconded to the Financial Services Authority for 3 months, working on FSMA issues. Catherine is often instructed by the FSA to advise on matters concerning insurance and regulation and she also appears regularly in Court hearings instructed for the FSA.

Catherine was appointed Junior Counsel to the Crown (B Panel) in 2007, having served as Junior Counsel to the Crown (C Panel) between 2002 and 2007. She is instructed regularly by the DTI (now BERR/BIS) to appear on winding up petitions in the public interest concerning fraudulent and/or insolvent companies or groups of companies (eg. "identity hijack companies"; "holiday clubs" scams; share capital frauds; fraudulent directors) and frequently acts in the appointment of provisional liquidators and in directors' disqualification proceedings in the Chancery division.

Before coming to the Bar, Catherine obtained a degree in Actuarial Science, trained as an actuary and worked in the corporate finance division of Ernst & Young in the City.

Professional Memberships

• COMBAR
• LCLCBA
• FSLA (Financial Services Lawyers Association)

Appointments

• Director and Board Member of Bar Mutual Indemnity Fund (2009)
• Bar Audit Committee Member (2009)
• Appointed to the COMBAR Executive 2005, 2006 and 2007
• Secretary of the Commercial Bar Association (COMBAR) (2002-2004)
• Junior Counsel to the Crown B Panel (2007-)
• Junior Counsel to the Crown C Panel (2002-2007)
• CEDR Accredited Mediator (since 2001)

Articles and Publications

• "Does a bank owe a duty of care to give investment advice to sophisticated clients who purchase its complex investment products?" article published in "Trusts and Trustees" (April 2009)
• 'JP Morgan Chase v Springwell - A "High Water Mark" for banks facing misselling claims?' article published in Journal of International Banking Law (September 2008)
• "Recovery of Financial Losses in Commercial Litigation" CLT Conference. Delivered paper on the topic "Claiming in contract or tort or both" ; February 2008
• Author of Mortgages, Guarantees, Undue Influence sections of Bullen & Leake & Jacob's Precedents of Pleadings (16th edn, Sweet & Maxwell, 2007)
• Recent Developments in International Fraud (2006)
• Challenges to the FSA and the Financial Ombudsman Service (2004)
• The Problem of Knowledge Acquired by a Broker in a Capacity other than as agent for the particular assured (2004)
• Banks, Insurers and Senior Management: New Roles and Responsibilities under FSMA 2000 (March 2003)
• Set-off and Self-Help for Banks: Cross-Border Set-off and Netting (Eurolegal Conference paper, April 2002)
• Legal Decisions Affecting Bankers 1991-1999: contributor

Awards & Scholarships

• The Mould Scholar of Gray's Inn, 1996.
• Gray's Inn Mooting Prize, 1996.
• CCH Editions Ltd Prize for Company Law, 1996.
• Prince of Wales Scholar, Gray's Inn, 1995.

Languages

French (working knowledge).