Praised for their expert handling of complex and high-value fraud work.

- Chambers & Partners UK Bar (2022)

Civil Fraud

3VB is a market leader in Civil Fraud, ranked as a Band 1 set by Chambers & Partners UK Bar and a Tier 1 set by the Legal 500 UK Bar. These cases form a significant part of the core work undertaken by members at all levels, who continue to be involved in the leading cases worldwide.

3VB has been recognised in the Legal 500 UK Bar (2022) as a Top of the range set with strength in depth amongst its leaders and juniors. Our go to set for complex financial fraud work and urgent matters“ and by Chambers & Partners UK Bar (2022) as housinga strong bench of senior and junior barristers who are praised for their expert handling of complex and high-value fraud work.”

Members of Chambers regularly act for institutions, private clients and regulators worldwide covering: asset tracing and recovery; banking fraud (including rate rigging); bribery and corruption; breach of fiduciary duties; conspiracy; constructive trusts; conversion; cyber fraud; fraudulent misrepresentation; claims under FSMA 2000 s.90 and 90A; inducement claims; and unlawful interference. As part of their ongoing cases, members also have expertise dealing with claims involving cross-border elements; complex jurisdiction challenges; freezing and disclosure orders; privilege related issues; search orders; and other forms of injunctive relief (including proprietary injunctions).

Highlights of 3VB’s recent and ongoing work in this area include:

  • Skatteforvaltningen v Solo Capital Partners LLP [2021] EWHC 974 (Comm); [2022] EWCA Civ 234 (one of the largest fraud cases over recent years, where the Danish tax authority seeks to recover billions of pounds from a number of defendants from what it alleges were unlawful applications for refunds of withholding tax iarising from complex dividend arbitrage transactions in respect of shares in Danish listed companies).
  • PCP Capital Partners LLP v Barclays Bank Plc [2021] EWHC 307 (Comm) (c.£770m claim concerning allegations of fraudulent misrepresentations made by the bank in respect of its capital raise during the global financial crisis in 2008).
  • State Bank of Qatar v Banque Havilland & Vladimir Bolelyy (multi billion pound claim, where the State of Qatar alleged that the defendants engaged in a fraudulent conspiracy to destroy its economy by devaluing the Qatari Riyal and undermining public confidence in the Qatari bonds market).
  • Allianz Global Investors GmbH v RSA Insurance Group Ltd, and Allianz Global Investors GmbH v G4S plc. Both cases in which shareholders claim compensation under FSMA 2000 S.90A/Sch 10A for investment losses caused by false statements in information published to the market by the defendant companies.
  • Ritchie Capital Management v Lancelot Investors Fund (a complex multi-jurisdiction dispute arising out of the US$3.6 billion Ponzi scheme operated by Tom Petters).
  • Berkeley Square Holdings v Lancer (a claim by a number of property companies owned by the then Ruler of Abu Dhabi, against his former property manager and its directors, alleging fraud and bribery).
  • Abu Dhabi Commercial Bank v Shetty (a substantial fraud claim of c.US$1 billion arising out of the collapse of NMC Plc, the largest private health care facility in the UAE, which was placed in administration in 2020 amidst allegations of widespread fraud).
  • Manning & Napier Fund Inc v Tesco Plc (a claim for US$400 million in respect of losses to Tesco shares held by American investment funds following admissions that Tesco had engaged in improper accounting practices which had significantly inflated its profits meaning that Tesco had allegedly made false or misleading statements to the London Stock market).
  • Anatolie Stati & Ors v Republic of Kazakhstan [2018] EWHC 1130 (Comm); [2018] EWCA Civ 1896 (resisting enforcement of an Energy Charter Treaty award that was obtained by fraud, as part of a wider fraudulent scheme involving the deliberate inflation of the constructions costs of an LPG Plant).
  • Vincent Tchenguiz v Grant Thornton (£2.5 billion claim, where it was alleged that two Grant Thornton partners had conspired with an Icelandic lawyer to feed false information to the SFO in the course of its investigation into the collapse of Kaupthing, an Icelandic bank).

This extraordinary depth and breadth of expertise reflects 3VB’s focus on excellence both in technical ability and dedication to client service. Members of Chambers also regularly appear in civil fraud disputes in overseas jurisdictions, both in courts and international arbitrations, including in the Middle East, Europe and Asia Pacific.