Year of call: 2006
E: rhanke@3vb.com

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JuniorsPMs@3vb.com

Richard specialises in general commercial litigation, in particular banking, commercial fraud, general contractual disputes, financial services regulation and insolvency. He has significant experience of acting both as a sole advocate and as part of a larger counsel team on substantial matters. He was highly commended in Legal Week's 2013 list of up and coming ‘Stars of the Bar'.

Richard's experience covers large and complex commercial cases. He has particular experience acting in retail and investment banking disputes. He is currently acting for a number of retail banks in interest rate risk protection product disputes and was sole counsel in Bailey v Barclays Bank Plc [2014] EWHC 2882 (QB), one of the principal reported decisions in the field. He also has extensive experience of litigation relating to derivatives more generally and complex financial products and arrangements.


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Richard’s experience includes:

Interest rate risk protection product disputes disputes (2012 - ongoing). Acting for a number of major banks and building societies (including Barclays, Clydesdale, HSBC, Nationwide and RBS), advising and defending claims arising from the sale of interest rate protection risk hedging and analogous products, both as sole counsel and as part of a larger team.  These cases have included

  • Fahem v HSBC Bank plc (2016 – ongoing) Acting for the defendant bank in a claim by investors in a company that entered into an extendable interest rate swap. Instructed by Freshfields Bruckhaus Deringer.
  • Summerpark Ltd v Clydesdale Bank plc (2015-2017) Acting for the defendant bank in a claim relating to the alleged mis-selling of a participating fixed rate range loan, with a damages claim of over £10million. Led by Ian Wilson, instructed by DLA. Case settled shortly before trial
  • Hobson v Clydesdale Bank plc (2014-2016) Acted for the defendant bank in a claim relating to the alleged mis-selling of a discounted fixed rate range loan, with a damages claim of around £20million. Led by Ian Wilson, instructed by Addleshaw Goddard. Case settled following cross-examination of the claimant.
  • Paterson v Svenska Handelsbanken AB (2016) Acted for the defendant bank in a claim relating to the sale of a callable interest rate swap, with a damages claim of over £5million. Led by Matthew Hardwick QC, instructed by Simmons & Simmons. Case settled shortly before trial.
  • Bailey v Barclays Bank Plc [2014] EWHC 2882 (QB) (2014 – 2016) Richard acted as sole counsel in the defendant bank’s successful application to strike out the whole claim.  He was to be led by Adrian Beltrami QC on the appeal and was instructed by Simmons & Simmons. Case settled shortly before appeal hearing.


Carney v NM Rothschild & Sons Ltd (2016 – ongoing). Acting for the defendant bank in an unfair relationship claim arising from loans advanced to borrowers in Spain. Instructed by Freshfields Bruckhaus Deringer.

Kotak v RBS (2016- ongoing) Acting for the defendant bank in a claim arising from a partnership dispute, and the alleged fraudulent misuse of the partnership bank account giving rise to issues relating to the Bank’s partnership mandate and s.5 Partnership Act 1890. Instructed by Addleshaw Goddard

Jamtoff v Century Bancorp (2015) Acted as sole counsel for the claimant Russian plastics manufacturer in a claim arising out of fraudulent letters of credit. Instructed by DWF.

Greengarth v RBS (2015-2016) Acting for the defendant bank in a claim arising from the alleged fraudulent misuse of a bank account over a four year period.  Instructed by DLA.

Clydesdale v Farrimond (2014- 2016). Acting for the claimant bank seeking payment under a number of guarantees, which was defended on the basis of alleged negligent misrepresentations and advice given to the guarantor and the principal debtor.  Instructed by Gateley.

Acted for a claimant bank in several claims against former partners of a law firm for the repayment of loans advanced to finance their partnership subscriptions.

SNCB Holding v UBS AG [2012] EWHC 2044 (Comm). Acted for the defendant bank in a claim relating to a secured credit linked deposit agreement. Led by Adrian Beltrami QC, instructed by Linklaters.

Payment protection insurance mis-selling claims (2009 – ongoing). Acted for various major retail banks in trials, applications and case management conferences in claims covering all issues arising out of payment protection insurance mis-selling (including ICOB/ICOBS breaches).

McGuinness v Norwich and Peterborough Building Society [2011] EWCA Civ 1286, [2010] EWHC 2989 (Ch). Acted for Norwich and Peterborough Building Society in first and second appeals by the debtor against a bankruptcy order founded on a guarantee, which turned on the nature of the debtor's liability under that guarantee. Led by Angharad Start, instructed by Rosling King.

Teasdale v HSBC and others [2010] EWHC 612 (QB). Acted for HSBC in part of an important test case relating to the costs orders following the Claimants' discontinuation of Consumer Credit Act claims. Junior to Sonia Tolaney. Instructed by Addleshaw Goddard.

Consumer Credit Act claims (2009 – 2011). Acted for various major retail banks in a variety of applications relating to Consumer Credit Act issues.

Advised a defendant bank in relation to a claim for £1.5m relating to the alleged wrongful termination of lending facilities. Instructed by Ashurst.

Advised a bank in relation to action to support receivers appointed under various lending facilities. Instructed by Kennedys.

Advised in relation to a complaint to the Financial Ombudsman service relating to the withdrawal of banking services from a bureau de change.

Richard’s experience includes:

Kotak v RBS (2016- ongoing) Acting for the defendant bank in a claim arising from a partnership dispute, and the alleged fraudulent misuse of a partnership bank account. Instructed by Addleshaw Goddard

Jamtoff v Century Bancorp (2015) Acted as sole counsel for the claimant Russian plastics manufacturer in a claim arising out of fraudulent letters of credit issued by a New Zealand based company controlled from England. Instructed by DWF

Greengarth v RBS (2015-2016) Acting for the defendant bank in a claim arising from the alleged fraudulent misuse of a bank account over a four year period.  Instructed by DLA.

Fortress Value Recovery Fund v Blue Skye Special Opportunities Fund (2012 – 2014) [2013] 2 BCLC 351. Acted for the Claimants against 22 defendants in a substantial claim arising from the complex reorganisation of the €200m Blue Skye investment fund in Italy. The claim gave rise to a number of important decisions, including a judgment which made notable observations on issues of reflective loss and actions in fraud of creditors [2013] 1 All ER (Comm) 973 and as to the application of the doctrine of collateral waiver of privilege [2014] EWHC 551 (Comm) Part of a four counsel team with Ewan McQuater QC, David Quest QC and Miriam Schmelzer, instructed by Slaughter and May.

Altecnic Ltd v Gizzi (2011- 2012). Acted for the claimant company in claims against its former directors involving breach of director's and fiduciary duties, soliciting employees and soliciting customers. Junior to Matthew Parker, instructed by Field Fisher Waterhouse.

Mortgage Express mortgage fraud claims (2011-2012). Acting for the claimant lender in various proceedings arising from serial mortgage fraud.

National Grid Electricity Transmission plc v McKenzie [2009] EWHC 1817 (Ch). Acting for National Grid in a seven week Chancery Division trial of a fraud claim involving bribery, breach of fiduciary duty, dishonest assistance and unlawful means conspiracy. Part of a three counsel team with Stephen Phillips QC and Laura John, instructed by Dorsey & Whitney.

Acted for lending banks in delivery up and pre-action disclosure and other interim applications associated with mortgage fraud.

Advised a bank in relation to the recovery of assets extracted through mortgage fraud.

Assisted with a potential claim to recover assets from an errant director in Belize and Nevis.

Richard's experience includes:

Jamtoff v Century Bancorp (2015). Acted as sole counsel for the claimant Russian plastics manufacturer in a claim arising out of fraudulent letters of credit issued by a New Zealand based company controlled from England. Instructed by DWF

Holland & Barrett v Freeworld (2014-2015).  Acted for the claimant health foods retailer in a claim against a commodity trader for supplying defective goods. Instructed by Hill Hofstetter

Fortress Value Recovery Fund v Blue Skye Special Opportunities Fund (2012 – 2014) [2013] 2 BCLC 351. Acted for the Claimants against 22 defendants in a substantial claim arising from the complex reorganisation of the €200m Blue Skye investment fund in Italy. The claim gave rise to a number of important decisions, including a judgment which made notable observations on issues of reflective loss and actions in fraud of creditors [2013] 1 All ER (Comm) 973 and as to the application of the doctrine of collateral waiver of privilege [2014] EWHC 551 (Comm). Part of a four counsel team with Ewan McQuater QC, David Quest QC and Miriam Schmelzer, instructed by Slaughter and May.

Globe Motors Inc v TRW Lucasvarity (2011-2013). Acted for the claimant US company in a substantial claim arising out of the termination of an exclusive agreement for the supply of power steering unit components. Led by Paul Lowenstein QC, instructed by Baker & McKenzie

Advised on freezing injunctions in support of overseas proceedings for in excess of US$80m. Led by Andrew Onslow QC and Jonathan Mark Phillips, instructed by Stephenson Harwood.

ANC Harlow & ors v FedEx UK Ltd and anor (2011). Acted for FedEx in its defence of claims by 23 of its franchisees for further payments under a franchise bonus scheme. Trial in March and April 2011 before Proudman J. Led by Paul Lowenstein QC, instructed by Baker & McKenzie.

Project Pay (UK) Ltd v Way Systems Inc (2011). Acted for the defendant US company disputing jurisdiction in a misrepresentation claim for in excess of £9 million, brought by German and English companies, relating to the sale of hand-held bank card devices. Instructed by DLA Piper.

GB Gas Holdings Ltd v Accenture (UK) Ltd (2009-10). Acted for GB Gas Holdings in a claim for over £100m against Accenture for the defective design and implementation of a customer billing system. Part of a three counsel team with Jeffery Onions QC and Sonia Tolaney, instructed by Linklaters.

Acted for an English company in proceedings to recover unpaid invoices from Norwegian and Dutch companies.

Assisted in an ICSID arbitration under a bilateral investment treaty.

Acted for the claimant in an LCIA arbitration relating to a share purchase agreement. Junior to James Evans.

Richard’s experience includes:

Advising as to the effect of the recognition of Japanese restructuring proceedings in England.

Advising an insolvent overseas Bank as to remedies available in England to reverse transactions entered into before its insolvency.

Kohli v Lit (Re Sunrise Radio) [2012] EWHC 1338 (Ch), [2012] EWHC 1337 (Ch), [2011] EWHC 3821 (Ch). Acted for the petitioner minority shareholder in a trial to assess the value of a company following a finding of unfair prejudice and consequential hearings. Instructed by EMW.

McGuinness v Norwich and Peterborough Building Society [2011] EWCA Civ 1286, [2010] EWHC 2989 (Ch). Acted for Norwich and Peterborough Building Society in first and second appeals by the debtor against a bankruptcy order founded on a guarantee, which turned on the nature of the debtor's liability under that guarantee. Led by Angharad Start, instructed by Rosling King.

Regularly instructed in corporate and personal insolvency applications, including annulment applications, setting aside statutory demands and claims contesting the admission of proofs of debt.

Advised an English bank on competing claims made on a fund by foreign liquidators.

Advised in relation to a bankruptcy order that had been obtained against a deceased creditor who had lived overseas.

Assisted with an action in the High Court and the Court of Appeal relating to the enforcement and recognition of foreign insolvency proceedings in England.

Assisted in proceedings where a company resisted an application for an administration order on the basis of a disputed debt

Richard has significant experience acting in cases with a financial services regulatory element.

In 2008, Richard was seconded to the Financial Services Authority in the Markets and Wholesale Firms department of the General Counsel Division. He gained experience of a wide range of regulatory issues, and specifically worked on banking reform, including the Banking Act 2009. Richard now regularly advises banks, financial services firms and their clients on issues arising out of FSMA and its predecessor regimes, as well as in relation to FOS proceedings.

Richard’s experience includes:

Acting for and advising banks, investors and investment advisers in relation to claims arising out of COBS rules.

Advising an overseas bank as to the scope to which it could carry on business in the UK under Directive 2013/36 - CRD IV.

Advising an overseas bank as to the impact of Regulation 1024/2013 – the Single Supervisory Regime Regulation.

Advised a private investor on a potential claim against a financial spread betting firm for breaches of ICOBS.

Acted for the claimant in a professional negligence claim against a firm of financial advisors for negligent advice and breach of COBS.

Advised a firm of financial advisors in relation to the enforcement of a Financial Ombudsman award.

Advised on a potential professional negligence claim against a financial services compliance advisory firm relating to advice on collective investment schemes.

Experience of pensions regulation, including acting for the Pensions Regulator.

Richard’s experience includes:

Acting for a property investor in a claim against solicitors relating to the negligent drafting of a lease.

Acting for and advising various banks facing claims that they provided negligent advice in relation to investments.

Warne v SEB (2015-2016) Acting for the defendant in a claim relating to the alleged mis-selling of an investment bond in Spain.  Instructed by RPC.

Mohun-Smith v TBO (2013-2014) Acted for the claimants in a claim against an investment adviser for negligent advice and breach of the Financial Services Authority's COBS rules in relation to a £1.5million investment in various offshore funds.

Anglo Irish Bank Resolution Corporation Ltd v DTZ Debenham Tie Leung Ltd (2012-2013). Acted for the Claimant former bank in a £20million claim against a property valuer. Led by Christopher Symons QC, instructed by Rosling King.

Acting for and advising various banks in claims against property valuers.

Acting for claimants in professional negligence claims against independent financial advisors for negligent advice and breach of the applicable FSA / FCA rules.

Advised on a potential professional negligence claim against a financial services compliance advisory firm relating to advice on collective investment schemes.

2005: Lord Denning Scholarship (Lincoln's Inn)

2005: Hardwicke Entrance Award (Lincoln's Inn)

2004: College Prize (Emmanuel College, Cambridge University)

2003: Dick Longden Prize (Emmanuel College, Cambridge University)

2003: Senior Scholarship (Emmanuel College, Cambridge University)

Co-Editor of EU Law division of The Encyclopaedia of Banking Law

Co-Editor of Butterworths Banking Bulletin - European Banking Update

How fair are bank charges?' with John Jarvis QC [2008] JIBFL 282

Contributor to the 17th edition of Bullen, Leake and Jacob's Precedents of Pleadings