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Gray's
Inn
London WC1R 5NT
Tel: +44(0)20 7831 8441
Fax: +44(0)20 7831 8479
DX: LDE 331
chambers@3vb.com |
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Andrew
Fletcher has a general commercial practice. He has regularly
been involved in substantial and high profile litigation, starting
with the Lonrho/Fayed dispute in relation to the acquisition
of Harrods; the Maxwell litigation (seeking recovery
from banks on behalf of pension fund trustees); acting for the
successful applicant in TSB v Chabra (which has become
a seminal authority in relation to grant of freezing injunctions
over respondents against whom there is no substantive cause
of action), the collapse of Polly Peck International
(instructed on behalf of the group's auditors), claims by Sir
Elton John involving allegations as to the incorrect treatment
of his concert touring income by the directors of his management
companies; claims arising out of the collapse of Independent
Insurance Group plc (including D & O policy coverage
issues and allegations of breach of duty by directors in relation
to allegations of payment of a dividend allegedly unlawful by
reason of errors in the relevant account. In 2006, he took silk.
Most recently he has appeared in a 40 day trial on behalf of
the Abu Dhabi Investment Corporation pursuing allegations
of fraudulent misrepresentation in relation to the sale of a
fleet of container ships, and in the subsequent appeal.
Specialist areas
Areas in which he has particular experience are claims relating
to contracts (including construction, formation, breach
of contract, warranties and misrepresentation, especially in
share and asset sale, and other commercial agreements); commercial
fraud (including conspiracy, deceit, misrepresentation and
asset tracing); equitable relief including constructive
and remedial trusts and dishonest assistance claims, trustee's
duties, and the exercise of fiduciary powers; insurance and
reinsurance (including coverage issues, avoidance, and business
interruption claims); company law and insolvency
issues especially allegations of breach of directors' duties,
transactions at an undervalue, preferences, transactions in
fraud of creditors; professional negligence in a commercial
context; and injunctions and interim remedies, especially
freezing injunctions and search orders; .and. He has presented
lectures on many aspects of contract law, on directors' duties
(especially under the Companies Act 2006) and on D & O policies.
Reported
Cases include:
Contracts
-
Camelot
Group Plc v. Beech (6.11.96), New Law Online 2961117101
(whether sale of a lottery ticket to a minor as agent for
an adult constituted a "sale to a minor");
- Larussa-Chigi v. C S First Boston Limited [1998]
CLC 227, QBD (Comm Ct) (whether foreign exchange margin
trading was subject to SFA Conduct of Business Rules);
- Rosedale (JW) Investments Ltd & ors v British
Steel plc - CA, 15.11.00. Breach of warranty and tax
indemnity claims arising out of a £330m share purchase
agreement, and associated issues as to treatment of pension
fund assets and liabilities;
- Sir Elton John & ors v Price Waterhouse & anr
- Chancery Division - Ferris J [2002] 1 WLR 953 Claim that
defendant accountants and director negligently failed to
report that fees were not being borne in accordance with
management agreements - Whether accountants and director
owed duty of care and were in breach;
- Pharmed Medicare Private Ltd v Univar Ltd [2002]
EWCA Civ 1569 (CA) Ostensible authority to conclude a pharmaceutical
contract for the supply of bulk glucosamine;
- Burmarsh v Walters [2006] All ER (D) 17 (Jun):
Trial of construction issues in relation to a deed of assignment
of a contingent interest in shares executed in furtherance
of a tax avoidance scheme; costs sharing orders following
representation order; and on appeal [2007] EWCA Civ 172;
- Issues as to the status of a guarantee alleged
to be unenforceable as a mere letter of comfort.
- Issues as to construction of a contract: whether
a back-dated contract should be construed so as to bar claims
arising before the date of execution;
- Issues as to validity of put options following
disposal of the holding to which such options referred
Back to top
Commercial
Fraud
-
Bishopsgate
Investment Management Limited v Credit Suisse Independent,
15 December 1994 (Lindsay J., ChD) Instructed as part of a
large team acting for a pension fund, seeking to recover assets
alleged to have been fraudulently charged by Robert Maxweil
Group to secure loans to itself. Issues as to transfer of
beneficial interests in shares, and liability of bank for
for knowing receipt of trust assets. Claims settled after
Closing Submissions, in a trial lasting more than 150 days;
- R.
v. Secretary of State for Trade and Industry, ex parte Lonrho
plc (HL) [1989] 1 WLR 525 (judicial review of Secretary
of State's decision not to refer an acquisition to the MMC,
and not to publish a Companies Act Inspectors' Report);
- Polly
Peck International Group v BDO Stoy Hayward - acting
for defendant auditors, facing allegations of negligence
in relation to the audit of PPI following its collapse.
Extensive involvement in preparation of witness statements
and expert evidence, especially as to auditors and directors
duties;
- Independent
Insurance Group v Ramsay - instructed by D&O Insurers
on behalf of former CEO of the Independent Insurance Group
following its collapse. Issues as to legality of a dividend,
corporate governance issues especially in relation to nen-executive
directors; directors duties in relation to misstated accounts
by reason of the alleged fraud of other directors. Extensive
involvement in pleadings and witness statements;
- Abu
Dhabi Investment Co and others v H Clarkson & Co Ltd
& Others [2007] All ER (D) 448 (May) claims for
fraudulent misrepresentation, shipping consultants and bankers'
negligence relating to the sale of a container fleet (following
a 40 day trial in the Commercial Court); and on appeal [2008]
All ER (D) 354 Jun);
- Claims
in dishonest assistance, knowing receipt, conspiracy
and related asset tracing claims in respect of USD 16 million
obtained by fraudulent misrepresentation;
- Claims
of lawful and unlawful means conspiracy arising out
of attempts to divest a limited partnership and related
company of assets to avoid claims;
- Issues
as to the liability of a bank enforcing security where
its officers are alleged to have taken bribes.
Back to top
Equitable
Relief
- Bishopsgate
Investment Management Limited v Credit Suisse
Independent, 15 December 1994 (Lindsay J., ChD) Instructed
as part of a large team acting for a pension fund, seeking
to recover assets alleged to have been fraudulently charged
by Robert Maxweil Group to secure loans to itself. Issues
as to transfer of beneficial interests in shares, and liability
of bank for for knowing receipt of trust assets. Claims
settled after Closing Submissions, in a trial lasting more
than 150 days;
- Shaker
v Al Bedrawi & Others [2003] Ch 350 (acting for
successful defendant at first instance)Trust assets shares
in company - Director allegedly holding shares on trust
for claimant - Claimant suing director as trustee for account
of profits from sale of company subsidiaries - Company having
possible cause of action against director for whole sum
- Possibility of director having lawfully extracted part
of sum from company - Whether rule precluding shareholder
from recovering company's loss barring claim by beneficiary
against director as trustee even though claim might extend
to lawfully extracted moneys over which company had no claim;
- In
the matter of the Circle Trust, HSBC International Trustee
Limited v Wong and Five Others Grand Court (Cayman Islands),
July 28 2006 [2006] CILR 323 (whether beneficiaries' power
to appoint trustees was a fiduciary power;
- Claims
in dishonest assistance, knowing receipt, conspiracy
and related asset tracing claims in respect of USD 16 million
obtained by fraudulent misrepresentation;
- Claims
of lawful and unlawful means conspiracy arising out
of attempts to divest a limited partnership and related
company of assets to avoid claims;
- Issues
as to the liability of beneficiaries to indemnify the
creditors of an insolvent corporate trustee;
- Proceedings
as to the validity of the appointment of a receiver
under a term loan facility.
Back to top
Insurance
& Reinsurance
-
Bristol
Knitwear Centre Ltd v. Axa Reinsurance Plc (11.9.98),
New Law Online 2981219603 (security for costs ordered against
impecunious company in relation to an allegedly fraudulent
fire damage claim);
- Thornton
Springer v. NEM Insurance [2000] 2 All ER 489 (dispute
as to policy coverage in respect of the costs of an insured's
successful defence of claims brought against it);
- Groupama
Insurance Co Ltd v Overseas Partners Re Ltd & anr:
Proceedings relating to a claim to avoid quota share retrocession
cover and associated appeal in relation to costs [2003]
EWCA (Civ) 1846;
- A
reinsurance arbitration arising out of a "killer
wave" of foal and foetal losses sustained in the Kentucky
bloodstock industry and caused by a plague of caterpillars.
The issue was as to whether these losses could be aggregated
under the applicable policy wording;
- An
arbitration in respect of business interruption and property
damage claims arising out of damage caused to a major
hotel by Hurricanes Katrina and Rita.
Back to top
Company
Law and Insolvency
-
Rosedale
(JW) Investments Ltd & ors v British Steel plc
- CA, 15.11.00. Breach of warranty and tax indemnity claims
arising out of a £330m share purchase agreement, and
associated issues as to treatment of pension fund assets and
liabilities;
- Sir
Elton John & ors v Price Waterhouse & anr -
Chancery Division - Ferris J [2002] 1 WLR 953 Claim that
defendant accountants and director negligently failed to
report that fees were not being borne in accordance with
management agreements - Whether accountants and director
owed duty of care and were in breach;
- Re
a Company (No 4920 of 2002) [2003] All ER (D) 226; (security
for costs);
- Shaker
v Al Bedrawi & Others [2003] Ch 350 (acting for
successful defendant at first instance)Trust assets shares
in company - Director allegedly holding shares on trust
for claimant - Claimant suing director as trustee for account
of profits from sale of company subsidiaries - Company having
possible cause of action against director for whole sum
- Possibility of director having lawfully extracted part
of sum from company - Whether rule precluding shareholder
from recovering company's loss barring claim by beneficiary
against director as trustee even though claim might extend
to lawfully extracted moneys over which company had no claim;
- Briskin
v Oakland Finance Limited & Others [2004] EWHC 1262
(Ch) issues as to beneficial ownership of shares and validity
of debentures; creditors claims in liquidation; stay of
proceedings in favour of the French commercial court;
- Independent
Insurance Group v Ramsay - instructed by D&O Insurers
on behalf of former CEO of the Independent Insurance Group
following its collapse. Issues as to legality of a dividend,
corporate governance issues especially in relation to nen-executive
directors; directors duties in relation to misstated accounts
by reason of the alleged fraud of other directors. Extensive
involvement in pleadings and witness statements.
- Claims
by a UK clearing bank to set aside or be granted priority
in relation to a charge over property which was not properly
registered under s. 395 of the Companies Act 1985;
- Claims
of lawful and unlawful means conspiracy arising out
of attempts to divest a limited partnership and related
company of assets to avoid claims;
- A
dispute as to the operation of retention of title clauses
arising out of the insolvency of Woolworths plc;
- Issues
as to the liability of beneficiaries to indemnify the
creditors of an insolvent corporate trustee.
Back to top
Professional
Negligence
- Polly Peck International v BDO Stoy Hayward - acting
for defendant auditors, facing allegations of negligence
in relation to the audit of PPI following its collapse.
Extensive involvement in preparation of witness statements
and expert evidence, especially as to auditors and directors'
duties and corporate governance;
- Sir Elton John & ors v Price Waterhouse & anr
- Chancery Division - Ferris J [2002] 1 WLR 953 Claim that
defendant accountants and director negligently failed to
report that fees were not being borne in accordance with
management agreements - Whether accountants and director
owed duty of care and were in breach;
- Independent Insurance Group v Ramsay - instructed
by D&O Insurers on behalf of former CEO of the Independent
Insurance Group following its collapse. Issues as to legality
of a dividend, corporate governance issues especially in
relation to nen-executive directors; directors duties in
relation to misstated accounts by reason of the alleged
fraud of other directors. Extensive involvement in pleadings
and witness statements;
- Abu Dhabi Investment Co and others v H Clarkson &
Co Ltd & Others [2007] All ER (D) 448 (May) claims
for fraudulent misrepresentation, shipping consultants and
bankers' negligence relating to the sale of a container
fleet (following a 40 day trial in the Commercial Court);
and on appeal [2008] All ER (D) 354 Jun);
- Claims by a bank to recover damages from auditors
arising out losses made in financing transactions relation
to commodities trading primarily in Russia.
Back to top
Freezing Injunctions
and Search Orders
- Landauer Limited v. Comins (CA), The Times, 7 August
1991 (claim against auditors of a commodity trading group
struck out because of destruction of documents);
- TSB Private Bank International SA v. Chabra [1992]
1 WLR 231 (mareva injunction against non party);
- CT Bowring & Co (Insurance) Ltd v. Corsi &
Partners [1995] 1 BCLC 148, CA (whether jurisdiction
to order security for costs against a company in the context
of an application for damages pursuant to a cross undertaking
in mareva injunction);
- Bristol Knitwear Centre Ltd v. Axa Reinsurance Plc
(11.9.98), New Law Online 2981219603 (security for costs
ordered against impecunious company in relation to an allegedly
fraudulent fire damage claim);
- Indosuez International Finance BV v National Reserve
Bank [2002] EWHC 774 (Comm) - Queen's Bench Division
(Commercial Court) - Morison J - 26.04.02 Application for
discharge of a freezing order in aid of enforcement of foreign
judgment;
- Re a Company (No 4920 of 2002) [2003] All ER (D)
226; (security for costs);
- Freezing and search injunctions on behalf of (1)
a major supermarket chain arising out of fraudulent building
maintenance invoices (2) a European aviation service provider
in relation to false accounting by VAT agents (3) claims
by a guarantor for contribution following the sale of interests
in an oil field in Azerbaijan;
- Proceedings as to the validity of the appointment of
a receiver under a term loan facility.
- Issues as to scope and disclosure in relation to
a USD 9 billion freezing injunction granted in Grand Court
of the Cayman Islands.
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