Saaman Pourghadiri

Saaman regularly appears in the Commercial Court and Chancery Division both led and unled. Seen as “a rising star”, his expertise covers a wide variety of contractual issues (for example termination and breach of warranty), fraud, professional negligence and company issues spanning a variety of sectors including banking and financial services, manufacturing, IT, telecoms, energy, sports, hospitality and logistics. His diverse practice involves high value, complicated disputes and he specialises in conflict of law and jurisdictional issues.  Clients comment on that fact that “he’s great to work with, very hard working and clever.  His attention to detail is fantastic”.

Examples of his work

• $1billion Commercial Court claim concerning a multi-jurisdictional commercial fraud perpetrated against a FTSE 350 energy corporation.  Saaman was instructed by the claimants. The case involved both jurisdiction, conflict of law issues and complex quantum issues.
• $20 m commercial court dispute concerning convertible bonds, involving highly technical expert evidence on the quantification of loss and the construction of bond documentation. [2022] EWHC 754 (Comm);
• £130 m insurance dispute in which Saaman resisted an anti-suit injunction in the Commercial Court and Court of Appeal ([2023] 1 All E.R. (Comm) 381);
• £15m Commercial Court claim concerning the failure of a cross-border IT contract involving complex jurisdictional and technical issues;
• £20m Commercial Court claim concerning the termination of a contract in the road transport sector;
• High value and high profile Commercial Court fraud and conspiracy claim against a financial adviser;
• Acting for the defendant bank and counterclaimant in a multimillion $ contract claim brought by the former CEO of the MENA based bank;
• Commercial Court contract claim brought by authors against the publishers of their works [2021] EWHC 1728 (Comm);
• Acting for a hospitality business in a Circuit Commercial Court contract claim concerning force majeure in the Covid pandemic;
• A dispute concerning the termination of a Formula 1 sponsorship contract.
• A dispute concerning the termination of a Premier League sponsorship contract.
• Acting in a £ multi-million claim concerning the actions of the trustees of a Guernsey trust.
• Acting for a garment manufacturer in an IT dispute in a LCIA arbitration.
• Defending a high court challenge against an ad-hoc arbitration decision pursuant to s.67-68 Arbitration Act 1996.
• A substantial LCIA dispute concerning the provision of IT software.
• Advising a telecoms firm in a £7m+ LCIA dispute against an IT provider.
• Appearing in the DIFC court for the defendant bank and counterclaimant in a multimillion $ contract claim brought by the former CEO of the MENA based bank ([2018] DIFC CFI 018).
• Acting in the ADGM courts for a director of an ADGM financial services firm in a shareholder dispute concerning the appointment of a new CEO and director by board resolution. ([2018] ADGMCFI2).
• SFO v ENRC [2017] EWHC 1017 (QB) (included in The Lawyer’s Top 20 Cases) – one of the leading authorities on the scope of litigation privilege.
• Briggs v Gleeds [2019] EWHC 102 (Ch) – a comprehensive judgment concerning the scope and extent of the without prejudice privilege rule and waiver of the same.
• Garvin Trustees Ltd v The Pensions Regulator [2015] Pens. L.R. 1 – application concerning the crime/fraud exception and the extent to which a company’s legal professional privilege survives its dissolution.

Saaman has extensive expertise of commercial fraud claims and handles all aspects of such claims including misrepresentations, misappropriation, dishonesty, conspiracy, breach of trust, breach of duty, and asset recovery.  His practice covers claims in a variety of sectors including banking and financial services, trusts, sports and property development.  He is experienced in the variety of ways such claims can be brought and the procedural tools by which they can be advanced.  Saaman has  expertise in how such claims can be impacted by regulatory and criminal intervention. He particularly enjoys both seeking and resisting injunctive relief.

Featured Civil Fraud cases

• $1 billion fraud claim brought by the administrators of a former FTSE 350 company against two of its former directors and its commercial partner.
• Acting for the defendants in successfully striking out a fraud claim in the Gibraltar Court of Appeal – (2023/GCA/009).
• Acting for the claimants in successfully resisting an application to strike out a fraud claim brought by investors in a property scheme against a prominent property developer – Lodgeshine v SBHMC [2022] EWHC 2030 (Ch).
• Obtaining an innovative form of injunction against the pension assets of a fraudster. Saaman appeared unled against a silk in the Court of Appeal [2023] 2 WLR 681.
• Acting for the defendants in successfully resisting an application for an injunction in an economic torts claim – [2022] I.R.L.R. 975.
• Various claims against banks relating to their fraudulent rigging of LIBOR rates, worth in excess of £10s million.
• Acting for ENRC in a number of matters relating to the SFO investigation of it and the various civil claims arising from the
  same.
• Acting for an investment fund bringing fraud proceedings against a property developer and his former solicitors.
• Acting for a football club seeking to recover funds misappropriated by a senior officer.
• £10m+ claim concerning misappropriation of funds from a French company by its director.
• Acting for the defendant directors of a Middle Eastern tech company in a claim concerning misappropriation of assets from the company.
• Defending a claim of fraudulent misrepresentations relating to a property transaction.
• Acting for a foreign bank seeking freezing injunctions against a foreign billionaire.
• Defending an investment fund against claims alleging misappropriation of investors assets.
• Bringing a claim against the operators of an alleged Ponzi scheme.
• Acting for an energy company to recover funds misappropriated by a commercial partner.
• Defending a £5m+ claim concerning the misappropriation of offshore trust assets, dishonest assistance and conspiracy.

Saaman has long standing expertise in pensions litigation and contentious pensions regulatory matters and has been ranked by the legal directories in this area for several years.

Regulatory

• Acting for the corporate trustee of a scheme in seeking a £22m contribution notice from the former directors of the company, under the NI equivalent of s38 Pensions Act 2004. The first case brought by the Pension Regulator concerning ‘contribution notices’. Settled at trial. [2015] Pens. L.R. 1
• Appearing in the Upper Tribunal in a case concerning whether a Scheme was constituted as a trust  – [2017] UKUT 385 (TCC)
• Appearing for the trustees in a case before the determinations panel of the pensions regulator in a case concerning the exercise of the regulator’s power to remove the trustees of a scheme. The determinations panel declined to exercise the power. (Determination Notice here)
• Defending the target in a £50m contribution notice case.

High Court

• Complex £60m multiparty professional negligence claim arising from the judgement of Newey J in Re Gleeds (led by Ben Hubble KC) ([2019] EWHC 102 (Ch)).
• Appearing in the Court of Appeal addressing the validity of a retrospective exercise of powers – [2019] Pens. L.R. 17
• Acting in numerous RPI/CPI rectifications.
• Appearing for the claimants in a group action against their employer concerning breaches of the implied term of trust and confidence.
• Appearing for the employer in a claim seeking to rescind the hardwiring of RPI. Approved compromise achieved on expedited basis together with enhanced privacy protections.
• Acting in claim concerning the terms of an executive retirement benefits scheme.
• A Re Hastings-Bass application in Guernsey concerning a QROPS.

Saaman has wide ranging expertise in relation to banking and financial services disputes.  He also handles technical financial services regulation and enforcement matters assisted by a secondment to the Bank of England Legal Directorate. He is experienced in appearing before the regulatory tribunals, including a number of appearances before the Upper Tribunal.  Saaman is comfortable dealing with a wide variety of lending, security, ISDA and associated documentation.

Examples of his Banking work

•  $20m Commercial Court convertible bond dispute against a listed issuer in India [2022] EWHC 754 (Comm).
• €20 million structured debt dispute concerning the enforcement of a mezzanine finance facility.
• Acting for an offshore fund in a $35m Commercial Court lending dispute against a corporate borrower based in Africa.
• Acting for a property developer in its Financial List claim against a bank for swaps mis-selling, LIBOR conspiracy and deceit.
• Acting for the defendant bank in a claim concerning breach of mandate and unauthorised payments.
• Advising the beneficiaries of a security trust as to the validity of £40m+ security.
• Defending an IFA in a hard fought £5m Commercial Court fraud claim.
• Acting in a claim against a Security Trustee arising from representations made by it to bondholders concerning the assets it held as security.
• Numerous claims for and against IFAs concerning negligent advice and breaches of COBS rules.

Saaman has deep and longstanding expertise in financial services regulatory matters.

Examples of his Financial Services work

• Acting for a senior trader in the Forex rigging investigations brough by various regulators.
• Defending a senior director of an insurance firm from FCA enforcement action.
• Defending an IFA facing an FCA prohibition order.
• Defending a private equity house facing substantial regulatory action.
• Acting for the Defendant to a claim brought by the FCA for a s382 FSMA restitution order.
• Advising an airline in relation to the payment services regulations.

Saaman is experienced in acting for claimants and defendants in professional liability and negligence claims. His practice focuses on solicitors, accountants and financial advisers. Saaman has a particular interest in disputes involving financial services, tax, pensions, and corporate/company issues. He also has a thorough understanding of the regulatory and disciplinary context professionals operate in with extensive experience of SDT, FRC, FCA, and TPR disciplinary proceedings.

Lawyers

• Bringing a £10m+ claim against solicitors concerning due diligence conducted in the course of an M&A deal.
• £60m Chancery Division multiparty professional negligence claim concerning the actions of solicitors, counsel and benefits consultants to a pension scheme.
• £10m claim brought against solicitors relating to funds passing through their client account.
• £8m+ claim against solicitors concerning their negligent conduct of a LIBOR fraud claim.
• £15m professional negligence claim concerning the actions of solicitors and counsel to a pension scheme.
• Defending a £2m professional negligence claim brought against a solicitor relating to his advice on and enforcement of security taken over a series of property developments.
• Acting for the claimants in a substantial professional negligence claim against an international law firm concerning its conduct during a regulatory investigation.
• A £ multi-million claim brought by a HNW individual against legal advisors relating to their negligent advice in the structuring of an offshore trust.

Banking & Financial Services

Saaman strong general banking and financial services expertise to bear on professional negligence claims make him a natural choice for professional negligence claims in these areas. For further details please see the “Banking and Financial Services” section of his profile.

Examples of his work include:

• Various claims in the Commercial Court against banks for negligent advice in relation to the sale of interest rate hedging products to SMEs.
• £8m+ claim against solicitors concerning their negligent conduct of a LIBOR fraud claim.
• £40m claim against solicitors concerning the negligent conduct of a bond dispute.
• £2m claim brought against solicitors for their negligent conduct of a claim against financial advisers.
• Defending a £2m professional negligence claim brought against a solicitor relating to his advice on and enforcement of security taken over a series of property developments.
• £3m+ claim against solicitors concerning the negligent conduct of a bank payments dispute.
• Numerous cases for and against financial advisors concerning negligent advice relating to pension schemes.
• Acting for the claimants in a substantial professional negligence claim against an international law firm concerning its conduct during a regulatory investigation.

Pensions

As a recognised expert in pensions litigation, Saaman brings his deep general pensions expertise to bear on professional negligence claims concerning all aspects of pensions schemes. For further details please see the “Pensions” section of his profile.

Examples of his work include:

• £60m Chancery Division multiparty professional negligence claim concerning the actions of solicitors, counsel and benefits consultants to a pension scheme.
• Numerous cases for and against financial advisors concerning negligent advice relating to pension schemes.
• A £15m professional negligence claim concerning the actions of solicitors and counsel to a pension scheme.
• Defending a leading firm of pensions solicitors in a £2m+ claim concerning allegedly negligent drafting.
• Defending a pensions consultancy in a approx. £6m claim concerning allegedly negligent drafting and advice around breaking the final salary link.
• A claim against solicitors for negligent advice relating to investments made by QROPS.

Audit, Accountancy & Tax

• £ multi-million claim relating to the audit of a large charity.
• Defending an individual in FRC proceedings relating to the audit of Carillion.
• Acting for Deloitte defending a £60m claim brought by an UHNW individual against his legal advisers and accountants concerning their advice relating to a tax avoidance scheme.
• £ multi-million claim brought by a HNW individual against legal advisors relating to their negligent advice in the structuring of an offshore trust. Thereafter advising on dealings with HMRC  once the transaction carrying the tax charge was reversed.
• Acting for the claimants, a UHNW family, in claims against a leading accountancy firm concerning negligent advice relating to the tax treatment and structuring of purportedly offshore transactions.
• Acting in a claim against accountants for their negligent advice concerning the recovery of VAT in the context of a possible MTIC fraud.
• Bringing a claim against accountants for their negligence in effecting a share buy-back scheme

Corporate/Company & Insolvency

Saaman brings his broad commercial expertise to bear on professional negligence claims involving corporate and commercial transactions and those involving company law and insolvency issues. For further details please see the “Commercial Litigation” and “Company & Insolvency” sections of his profile.

Examples of his work include:

• £10m+ claim against solicitors concerning due diligence conducted in the course of an M&A deal.
• £2m professional negligence claim brought against a solicitor relating to his advice on and enforcement of security taken over a series of property developments.
• Bringing a claim against accountants for their negligence in effecting a share buy-back scheme.
• Defending a substantial professional negligence claim against solicitors for their conduct of an insolvency matter.

Tech

• £20m Commercial Court claim against IT consultants concerning the implementation of bespoke cloud software.
• Acting for a garment manufacturer in a negligent misstatement claim against an IT solutions provider.

Saaman has broad experience of working in offshore jurisdictions, in particular Gibraltar, the Channel Islands and the Caribbean.

Recent Work

• Acting in the Supreme Court of Gibraltar and Gibraltar Court of Appeal in a claim concerning misappropriation of trust assets and dishonest assistance. Saaman appeared in a two day strike-out/summary judgment hearing in April 2022 and the Court of Appeal in March 2023 (2023/GCA/009).
• Acting for a HNWI in a Re Hastings-Bass application before the Guernsey Royal Court and Guernsey Court of Appeal (Guernsey Judgment 21/2018).
• Appearing before the Cayman Islands Grand Court for the claimant in a judicial review.

Saaman is experienced in dealing with company issues particularly as they relate to the breakdown in relations between shareholders and the conduct of directors. He has particular expertise in unfair prejudice petitions. His insolvency experience is similarly focused on directors’ misconduct.

Featured Company & Insolvency cases

• Acting for the administrators in a $1 billion claim against the company’s former directors alleging various breaches of their duties as directors.
• Defending the former directors of a company in liquidation against a s.212 application relation to sums allegedly appropriated from the company ([2020] EWHC 405 (Ch)).
• Defending an unfair prejudice petition in the property sector.
• Acting in an unfair prejudice petition in the care home sector.
• Bringing an unfair prejudice petition concerned with the conduct of directors in dealing with a company’s assets in East Africa.
• Acting for the shareholders in a company in a misfeasance claim against the company administrators.
• An application concerning the extent to which a company’s legal professional privilege survives its dissolution.

Saaman is regularly instructed to deal with High Court employment matters, recently acting unled against a silk in successfully resisting an application for a springboard injunction – [2022] I.R.L.R. 975 . He is experienced in advising and acting on team moves and other issues arising from restrictive covenants. He compliments this expertise with his experience of actions for and against directors and his experience as an advocate in the Employment Tribunals.

Saaman’s disciplinary practice is principally focussed on the financial services, pensions and accountancy sectors. He is experienced in defending individuals facing enforcement action by the FCA and financial regulators abroad. Saaman has also acted in a number of actions brought by the Pensions Regulator against trustees. Saaman acted in FRC proceedings relating to the collapse of Carillion.