Jamie Riley KC

Jamie has advised and acted for or against banks, investment funds, hedge funds and private equity houses in a wide range of domestic and international banking and financial services disputes. These disputes have included issues in relation to debt and equity investments, security and guarantees, hedging products, derivatives and securitisation. In particular, Jamie has considerable experience of claims relating to non-performing loan portfolios and the realisation of assets either directly or via insolvency procedures.

Recent work includes:

• Syndicated loan (from 2021)

Jamie has been advising and acting as lead counsel for a group of Indian state banks who are lenders in a USD 150 million syndicated loan to an oil and drilling company within an Indian multinational conglomerate. The banks seek to recover the balance of the loan and to enforce the supporting guarantee. The claim involves complex issues regarding transfer procedures and enforcement mechanisms. The trial is due to take place before the Commercial Court in 2023.

• Invest Bank PSC v El-Husseini and others (from 2021)

Jamie has been acting for the Fifth, Sixth and Eighth Defendants to claims brought in by a UAE commercial bank to enforce judgment debts of circa £20 million obtained in Abu Dhabi against the First Defendant and to set aside various asset transfers under s.423 of the Insolvency Act 1986.  Jamie advised and appeared as lead counsel in relation to the bank’s application for worldwide freezing orders and at various hearings of applications by the defendants challenging jurisdiction or seeking summary judgment and the bank’s applications to amend (see [2022] EWHC 894 (Comm))

• Promontoria litigation

Jamie has led a team of counsel acting for various special purpose companies within the operational group of the US private equity firm, Cerberus Capital Management LP.  These claims have included the realisation via insolvency procedures of a portfolio of non-performing loans and distressed security assets worth circa £4 billion which the Cerberus entities had acquired from UK banks.  The claims have given rise to a variety of issues regarding the enforceability of loans, securities and hedging instruments.  In particular, Jamie acted as lead counsel before the Court of Appeal in Hancock v Promontoria (Chestnut) Ltd [2020] 4 WLR 100 and Promontoria (Oak) Ltd v Emanuel and others [2022] 1 WLR 2004 in successfully establishing the enforceability of the assets. The decisions lay down guidance on how judges should deal with documents on which an assignee needs to rely to prove title but which it has redacted on grounds of irrelevance and confidentiality.  Jamie also acted for the Cerberus entities in successfully opposing the application for permission to appeal to the Supreme Court.

• Re X Group (2022)

Jamie has been advising a major US private equity fund in relation to a £multi-billion investment in a UK energy group portfolio.  The case involves issues as to the value of investments in light of share options and the interpretation and enforceability of the option agreement.

• Re Y LLC (from 2021)

Jamie has been advising and acting for a leading international aircraft finance house in relation to a warehousing revolving credit and security agreement with international investment banks.  The warehousing involves the aggregation of loans to Delaware trust entities which in turn have lent funds to international aircraft carriers in the US and UAE.  The central issue is whether the warehousing amounts to a double securitisation prohibited under the EU Securitisation Regulation.

Jamie frequently advises and acts for both claimants and defendants in a wide range of cases relating to fraud and asset recovery relief.  In particular, he has considerable experience of handling claims in the field of insolvency.

Recent work in this area includes:

• Invest Bank PSC v El-Husseini and others (from 2021 – ongoing)

Jamie has been acting for the Fifth, Sixth and Eighth Defendants to claims brought in by a UAE commercial bank to enforce judgment debts of circa £20 million obtained in Abu Dhabi against the First Defendant and to set aside various asset transfers alleged by the bank to be part of a scheme to defraud creditors.  Jamie advised and appeared as lead counsel in relation to the bank’s application for worldwide freezing orders and at various hearings of applications by the defendants challenging jurisdiction or seeking summary judgment and the bank’s applications to amend (see [2022] EWHC 894 (Comm).

• Von der Heydt Invest SA v Mex Clearing Limited and others (2022)

In BVI proceedings, Jamie has acted for the defendant companies which are part of a group with headquarters in the UAE operating trading platforms for derivatives and other financial products.  The proceedings involve claims by a Luxembourg wealth management company alleging unlawful means conspiracy and the misappropriation of monies from Luxembourg fiduciary funds Jamie appeared in proceedings relating to worldwide freezing orders and jurisdiction challenges.

• Shelley v The Estate of Christopher Norman (from 2020 – ongoing)

Jamie has been acting as lead counsel for the estate of a high net worth individual in claims against a financial adviser for misappropriation of £multi-millions of investment assets and secret commissions.  In particular Jamie acted in obtaining worldwide freezing orders and following a two-week trial successfully obtained an order for committal for breaches of the freezing orders.

• Re Akkurate Limited (2022)

Jamie as lead counsel has advised and acted for one of the defendants to claims brought by the liquidators of a fashion design company alleging dishonest assistance of breaches of fiduciary duty and conspiracy.  The liquidators allege the defendants conspired to procure the transfer of rights to brands, designs and stock at an alleged undervalue of millions of Euros.

• A v Persons Unknown (2021)

Jamie was instructed by a healthcare company in obtaining an interim non-disclosure order against computer hackers who had launched a ransomware attack and threatened to leak medical records.

• Re Duet Capital Holdings Limited (2021)

This matter involved claims by a company administrator against its director for dishonest breaches of fiduciary duty by making fraudulent drawdowns on an asset finance facility and misappropriating funds.  Jamie acted for the administrator in obtaining worldwide freezing orders and proprietary injunctions against the director and connected entities in other jurisdictions.

• Re Tuscola Group Limited (in liquidation) (2020)

In proceedings before both the BVI and English High Courts, Jamie acted for the liquidators of the group parent company in obtaining worldwide freezing orders and proprietary injunctions following intra group share transfers aimed at sheltering large property portfolios from the parent and its creditors.

Jamie advises clients involved in a variety of commercial disputes in England and other jurisdictions. He represents clients in the courts of England and Wales, in offshore jurisdictions such as the BVI and in arbitration.

Examples of his recent work in commercial dispute resolution include:

• LCIA arbitration (2022 – ongoing)

Jamie is advising and acting for an international commodities trading company incorporated in Singapore in claims against a Russian bank in respect of receivables purchase agreements, release contracts and indemnities.

• Invest Bank PSC v El-Husseini and others (from 2021 – ongoing)

Jamie has been acting for the Fifth, Sixth and Eighth Defendants to claims brought in by a UAE commercial bank to enforce judgment debts of circa £20 million obtained in Abu Dhabi against the First Defendant and to set aside various asset transfers under s.423 of the Insolvency Act 1986.  Jamie advised and appeared as lead counsel in relation to the bank’s application for worldwide freezing orders and at various hearings of applications by the defendants challenging jurisdiction or seeking summary judgment and the bank’s applications to amend (see [2022] EWHC 894 (Comm))

• AB v XY (2022 – ongoing)

As lead counsel Jamie has been advising and acting for the claimants in a claim seeking substantial damages for the delayed issue of shares agreed as partial consideration for the acquisition of the claimant’s shares in another company.

• Y Ltd (in administration) (2022)

Jamie has been advising the joint administrators of a shipping agency in relation to claims by shipping companies alleging that substantial sums paid in respect port and other fees are held on trust.

• URE Energy Limited v Notting Hill Genesis (2022)

Jamie has been advising and acting as lead counsel for the defendant, a large housing association, in claims brought by an energy supply company in respect of the termination of the energy supply contract for the defendant’s property portfolio.  Jamie appeared in successfully opposing the claimant’s summary judgment application.

• Von der Heydt Invest SA v Mex Clearing Limited and others (2022)

In BVI proceedings, Jamie has acted for the defendant companies which are part of a group with headquarters in the UAE operating trading platforms for derivatives and other financial products.  The proceedings involve claims by a Luxembourg wealth management company alleging unlawful means conspiracy and the misappropriation of monies from Luxembourg fiduciary funds Jamie appeared in proceedings relating to worldwide freezing orders and jurisdiction challenges.

• Syndicated loan claim (from 2021)

Jamie has been advising and acting as lead counsel for a group of Indian state banks who are lenders in a USD 150 million syndicated loan to an oil and drilling company within an Indian multinational conglomerate.  The banks seek to recover the balance of the loan and to enforce the supporting guarantee.  The claim involves complex issues regarding transfer procedures and enforcement mechanisms.  The trial is due to take place before the Commercial Court in 2023.

• Promontoria litigation

Jamie has led a team of counsel acting for various special purpose companies within the operational group of the US private equity firm, Cerberus Capital Management LP.  These claims relate to a portfolio of non-performing loans and distressed security assets worth circa £4 billion which the Cerberus entities had acquired from UK banks.  In particular, Jamie acted as lead counsel before the Court of Appeal in Hancock v Promontoria (Chestnut) Ltd [2020] 4 WLR 100 and Promontoria (Oak) Ltd v Emanuel and others [2022] 1 WLR 2004 in successfully establishing the enforceability of the assets. Jamie also acted for the Cerberus entities in successfully opposing the application for permission to appeal to the Supreme Court.

• Yoo Design Services Ltd v Iliv Realty PTE [2020] EWHC 1077 (Comm); [2021] EWCA Civ 560

Jamie acted for the claimant at both first instance and in the Court of Appeal in this claim for breach of contract in respect of a luxury residential development in Singapore.

• Benkel v East West Germany Real Estate Holding Ltd [2021] EWHC 777 (Ch)

Jamie appeared as lead counsel in a three-week trial of a claim brought by the Trustee in Bankruptcy of the largest ever bankruptcy in Israel.  The claimant alleged that via hidden corporate structures and nominee shareholders and directors, the defendants held interests in companies and real estate in Germany worth billions of Euros.

Many of Jamie’s cases involve a company law aspect.  He regularly advises and appears in a wide range of contentious company disputes including shareholder disputes, unfair prejudice claims, derivative actions, claims against directors and claims relating to the allotment of shares and share options.

Recent cases include:

• AB v XY (2022 – ongoing)

As lead counsel Jamie has been advising and acting for the claimants in a claim seeking substantial damages for the delayed issue of shares agreed as partial consideration for the acquisition of the claimant’s shares in another company.

• Invest Bank PSC v El-Husseini and others (from 2021 – ongoing)

Jamie has been acting for the Fifth, Sixth and Eighth Defendants to claims brought under s.423 of the Insolvency Act 1986 by a UAE commercial bank to set aside various asset transfers made by connected companies.  Jamie advised and appeared as lead counsel in relation to the bank’s application for worldwide freezing orders and at various hearings of applications by the defendants challenging jurisdiction or seeking summary judgment and the bank’s applications to amend (see [2022] EWHC 894 (Comm)). The case concerns issues as to the identity of the party entering into the transaction for the purposes of s.423 and whether the assets transferred must be owned by the defendant as opposed to a connected company.

• Re X Group (2022)

Jamie has been advising a major US private equity fund in relation to a £multi-billion investment in a UK energy group portfolio.  The case involves issues as to the value of investments in light of share options and the interpretation and enforceability of the option agreement.

• Benkel v East West Germany Real Estate Holding [2021] EWHC 777 (Ch)

Jamie appeared as lead counsel in a three-week trial of a claim brought by the Trustee in Bankruptcy of the largest ever bankruptcy in Israel.  The claimant alleged that via hidden corporate structures and nominee shareholders and directors, the defendants held interests in companies and real estate in Germany worth billions of Euros.

• Re A Limited (2021)

Jamie advised and acted for the majority shareholders of an international online gaming company in relation to claims by the minority shareholders of unfair prejudice and unlawful share allotments.

• Roberts v Akari Care Limited (2021)

Jamie acted for the defendants in a case concerning the application of share transfer provisions in the second defendant’s articles of association following the removal of the claimant as director.

• Ajayi v Ebury Partners [2020] EWHC 166 (Comm) (2020-2022)

Jamie advised and appeared for the defendant at a two-week trial in successfully opposing a claim by a shareholder for damages alleging a breach of a share option agreement, breaches of the articles of association relating to share transfers and valuations and breaches of tax regulations governing enterprise management incentive schemes.  Jamie also acted in successfully opposing the appeal and in enforcement applications.

Recognised as a “first class advocate with extensive experience” Jamie regularly advises and appears in relation to contentious insolvency disputes and corporate restructurings.

Jamie has appeared in some important and leading cases in this field including as lead counsel before the Supreme Court in Re D&D Wines International Limited, a leading authority on the imposition of constructive trusts in respect of assets held by an insolvent company.

Often his cases involve a cross-border and multi-jurisdictional element.  As well as domestic insolvencies he has been instructed on various offshore matters including in the BVI, Isle of Man and the Channel Islands.  He has been called to the Bar of the Eastern Caribbean Supreme Court (BVI).

Recent work includes:

• Invest Bank PSC v El-Husseini and others (from 2021)

Jamie has been acting for the Fifth, Sixth and Eighth Defendants to claims brought in by a UAE commercial bank to enforce judgment debts of circa £20 million obtained in Abu Dhabi against the First Defendant and to set aside various asset transfers under s.423 of the Insolvency Act 1986.  Jamie advised and appeared as lead counsel in relation to the bank’s application for worldwide freezing orders and at various hearings of applications by the defendants challenging jurisdiction or seeking summary judgment and the bank’s applications to amend (see [2022] EWHC 894 (Comm))

• Promontoria litigation

Jamie has led a team of counsel acting for various special purpose companies within the operational group of the US private equity firm, Cerberus Capital Management LP.  These claims have included the realisation via insolvency procedures of a portfolio of non-performing loans and distressed security assets worth circa £4 billion which the Cerberus entities had acquired from UK banks.  In particular, Jamie acted as lead counsel before the Court of Appeal in Hancock v Promontoria (Chestnut) Ltd [2020] 4 WLR 100 and Promontoria (Oak) Ltd v Emanuel and others [2022] 1 WLR 2004 in successfully establishing the enforceability of the assets. The decisions lay down guidance on how judges should deal with documents on which an assignee needs to rely to prove title but which it has redacted on grounds of irrelevance and confidentiality.  Jamie also acted for the Cerberus entities in successfully opposing the application for permission to appeal to the Supreme Court.

• X Ltd (in administration) (2021 onwards)

Jamie has been advising the administrators of a group of manufacturing and engineering companies in relation to complex claims against the directors for fraudulent and wrongful trading with a value of approximately £30 million.

• Re Akkurate Limited (2022)

Jamie as lead counsel has advised and acted for one of the defendants to claims brought by the liquidators of a fashion design company alleging dishonest assistance of breaches of fiduciary duty and conspiracy.  The liquidators allege the defendants conspired to procure the transfer of rights to brands, designs and stock at an alleged undervalue of millions of Euros.  Jamie represented the second defendant in opposing an application for disclosure under s.236 of the Insolvency Act 1986 and he continues to act for him in ongoing proceedings.

• Re Orbit Energy Limited (in administration) (2022)

An English energy supply company placed in administration in relation to which Jamie has been advising and acting for the directors, English parent/shareholder and NYSE group parent. The primary issues arose from the company’s potential return to solvency and the holding of surplus funds following a payment of circa US$75 million as a result of the unwinding of a forward price hedging agreement.

• Y Ltd (in administration) (2022)

Jamie has been advising the joint administrators of a shipping agency in relation to claims by shipping companies alleging that substantial sums paid in respect port and other fees are held on trust.

• Benkel v East West Germany Real Estate Holding Ltd [2021] EWHC 777 (Ch)

Jamie appeared as lead counsel in a three-week trial of a claim brought by the Trustee in Bankruptcy of the largest ever bankruptcy in Israel.  The claimant alleged that via hidden corporate structures and nominee shareholders and directors, the defendants held interests in companies and real estate in Germany worth billions of Euros.

• Re Tuscola Group Limited (in liquidation) (2020)

In proceedings before both the BVI and English High Courts, Jamie acted for the liquidators of the group parent company in obtaining worldwide freezing orders and proprietary injunctions following intra group share transfers aimed at sheltering large property portfolios from the parent and its creditors.

Jamie frequently advises and represents clients in disputes in offshore jurisdictions including the BVI, Cayman Islands, Isle of Man and Channel Islands. He has been called to the Bar of the Eastern Caribbean Supreme Court (BVI) and has rights of audience before the Astana International Financial Centre Court. Jamie is a registered practitioner in the DIFC Courts. Before coming to the London Bar, Jamie spent some time working for a major international law firm handling compensation claims to the United Nations in the aftermath of the Gulf War. He has continued to advise and act in claims for and against parties based in the Middle East region.

Recent cases include:

• Von der Heydt Invest SA v Mex Clearing Limited and others (2022)

In BVI proceedings, Jamie has acted for the defendant companies which are part of a group with headquarters in the UAE operating trading platforms for derivatives and other financial products.  The proceedings involve claims by a Luxembourg wealth management company alleging unlawful means conspiracy and the misappropriation of monies from Luxembourg fiduciary funds Jamie appeared in proceedings relating to worldwide freezing orders and jurisdiction challenges.

• Guernsey trust (2021-2022)

Jamie was instructed by a Guernsey trust management company in relation to the claims by the family office of a Russian billionaire for the release and reinvestment of asset sale proceeds despite asset freezes imposed by sanctions regulations relating to Belarus.

• Re Tuscola Group Limited (in liquidation) (2020)

In proceedings before the BVI Commercial Court, Jamie acted for the liquidators of a group parent company in obtaining worldwide freezing orders and proprietary injunctions following intra group share transfers aimed at sheltering large property portfolios from the parent and its creditors.  Jamie also obtained related orders before the English High Court pursuant to s.25 of the Civil Jurisdiction and Judgments Act.

Jamie is widely praised in the directories as an increasingly prominent silk in the cross-over areas of insolvency, fraud and commercial disputes. He was shortlisted as Chancery Silk of the Year for the 2022 Legal 500 UK Bar Awards.

Legal 500 UK Bar 2024 Banking & Finance 

‘Jamie is a true silk. His legal arguments and drafting skills are exceptional. He can certainly pull a rabbit out of a hat in dire situations. He is extremely effective in difficult cases.’

Legal 500 UK Bar 2024 Insolvency 

‘Commercial, responsive and sensible and a powerful advocate.’

Chambers & Partners UK Bar 2023 Chancery Commercial

“Jamie is highly personable and his analytical skills are excellent. He is also excellent on his feet and at managing expectations.”

“His knowledge makes the task of navigating complex proceedings much easier.”

Chambers & Partners UK Bar 2023 Commercial Dispute Resolution

“His analytical skills are fantastic and he is excellent on his feet.”

“Very compelling and engaging, he cuts to the chase and makes things very simple.”

“In Jamie, the judge clearly felt that they had got somebody who knew their stuff and was going to put things forward in a sensible way.”

Chambers & Partners UK Bar 2022 Commercial Dispute Resolution

“A first-class advocate with extensive banking and insolvency experience.”

Chambers & Partners UK Bar 2022 Chancery Commercial

“Excellent to work with and provides clarity of thought . He cuts through complex technical matters with ease and establishes a rapport and understanding with the bench.”

Chambers & Partners UK Bar 2022 Restructuring/Insolvency

“A first-class advocate with extensive experience.”

“He’s super efficient”

Chambers & Partners UK Bar 2021 Commercial Dispute Resolution

“A confident and practical young silk”

“He is a terribly good advocate”

“Very brainy, incredibly thorough and someone who is calm in cross-examination”

Chambers & Partners UK Bar 2021 Chancery Commercial

“He has a great brain and is a great advocate”

“He is a very safe pair of hands at trial and he has a great manner with clients”

Chambers & Partners UK Bar 2021 Restructuring/Insolvency

“He is very efficient and produces well-rehearsed arguments which allow him to get effective results in a cost-effective manner”

Legal 500 2021 Commercial Litigation

“An outstanding, compelling, organised and authoritative advocate, my go-to to cut through complexity like a hot knife through butter”

Legal 500 2021 Insolvency

“Clear, concise and promptly delivered advice. I have found him to be approachable and very astute and commercial”