Sarah Tulip

Sarah has extensive experience of banking litigation and is frequently instructed by national and international banks and financial institutions across a range of disputes. Notable instructions include:

• • Kells v Friends Provident International Limited: Acting for the defendant insurance company in relation to a substantial number of mis-selling claims regarding overseas insurance bonds (led by Jonathan Nash KC, with Ian Higgins). Judgment is awaited following a trial of preliminary issues relating to test cases.
  • Byers v Samba / Saudi National Bank: Acting for the defendant bank in a US$300m claim for knowing receipt (led by Andrew Onslow QC). The claim gave rise to complex issues of Saudi Arabian law, the English law of knowing receipt, and the valuation of shares in accessory liability claims.
  • Nopporn Suppipat (and others) v Nop Narongdej (and others): Acting for the defendant bank in USD 2 billion fraud claim, featured in The Lawyer’s “Top 20” cases of 2022 (led by Jonathon Davies Jones KC and David Simpson).
  • Ver Cap v Citicap Global Markets Limited: Representing Ver Cap (a specialist investment fund) in a claim against Citibank relating to the way in which the fund’s portfolio of bonds and loans was liquidated at the height of the covid-19 pandemic. Led by Jonathan Davies-Jones KC.
  • Independent banking reviews and appeals: Acting as a legal expert supporting Sir William Blackburne addressing complaints from small business customers of RBS’s “Global Restructuring Group”. Sarah was also instructed as part of the legal team assisting Rory Phillips KC in the Cranston Review Appeals process: an independent appeals process determining claims for compensation from victims of the HBOS Reading fraud.
  • Re Golden Belt 1 Sukuk Company junior counsel in a part 8 claim which centred on the rights and obligations arising under an Islamic financing transaction known as a “sukuk” (led by Richard Salter KC).

Sarah has a busy general commercial practice. In addition to being instructed as sole counsel on substantial matters, she is often instructed as a junior in complex, large-scale commercial disputes. Current and recent instructions include:

• Kells v Friends Provident International Limited: Acting for the defendant insurance company in relation to a substantial number of mis-selling claims regarding overseas insurance bonds (led by Jonathan Nash KC, with Ian Higgins). Judgment is awaited following a trial of preliminary issues relating to test cases.
• Byers v Samba / Saudi National Bank: Acting for the defendant bank in a US$300m claim for knowing receipt (led by Andrew Onslow QC). The claim gave rise to complex issues of Saudi Arabian law, the English law of knowing receipt, and the valuation of shares in accessory liability claims.
• Nopporn Suppipat (and others) v Nop Narongdej (and others): Acting for the defendant bank in USD 2 billion fraud claim, featured in The Lawyer’s “Top 20” cases of 2022 (led by Jonathon Davies Jones KC and David Simpson).
• Public Institution for Social Security v Al Rajaan (and others): represented one of the individual defendants in substantial multi-party fraud proceedings (led by David Head KC).
• Wilson v LCML: One of the first BITCOIN cases to reach the courts, after successfully setting aside a default judgment of over £1.3m in 2019, Sarah acted for trading platform LCML in numerous applications and hearings throughout 2020, both in the Central London County Court and the Commercial Court.
• Ryanair v Hertz: Acting for the defendant in a complex commercial dispute, listed as a “Top 20” case of 2018 by The Lawyer (led by Andrew Sutcliffe QC and Anne Jeavons).

Sarah has a particular specialism in gambling disputes, and regularly acts for and advises gambling operators in respect of claims issued in the County Court or High Court. Recent instructions include:

• Gibson v TSE Malta LP t/a Betfair: Representing the defendant gambling operator in successfully defending (at trial, and on appeal to the Court of Appeal) a claim for breach of contract, breach of statutory duty, negligence, knowing receipt and unjust enrichment (led by Jonathan Davies Jones KC, and leading Devon Airey).
• Gladstone v Bet365 and Paddy Power: Instructed to represent Paddy Power at trial as sole counsel in this claim in negligence, issued by an (alleged) problem gambler (the claim was ultimately withdrawn).
• Edwards v Power Leisure: Applied (successfully) to strike out a broad-ranging negligence claim brought by an (alleged) problem gambler against a gambling operator.

Sarah is regularly instructed as a junior in high-value and complex arbitrations under the major sets of arbitration rules, including LCIA, HKIAC, SCC and UNCITRAL. Sarah also has expertise in representing litigants in arbitration-related applications before the courts of England and Wales. Recent and notable instructions include:

• Confidential arbitration: Acting for the defendant in a high value (>US$75m) arbitration seated in Hong Kong (led by David Quest KC). At the heart of the case were serious allegations of wrongdoing against the founder of a successful Chinese-based technology company. Sarah cross-examined the claimant’s expert in Chinese law.
• Confidential arbitration: Led by Nick Craig KC, Sarah acted for a fronting insurer in a claim under a D&O policy brought by the former director of a publicly listed telecommunications company in the Middle East (against whom various claims had been bought for the fraudulent manipulation of financial statements).
• ABL v Alstom: Acting for a Hong Kong company successfully defending an application to resist enforcement of an arbitration award on grounds of public policy under s.103(3) Arbitration Act: Alexander Brothers Ltd v Alstom [2020] EWHC 814 (expert evidence) and [2020] EWHC 1584 (application to set aside).
• Confidential arbitration: Acting for the Tanzanian Roads Agency (led by Jane Davies Evans) in three consolidated UNCITRAL arbitrations.
• Confidential arbitration: Representing a litigation funder in a confidential arbitration relating to a litigation funding agreement, including a successful application for security for costs (with Christopher Harris QC).
• AB International: acting for the applicant in an application for urgent interim relief under s.44 Arbitration Act (led by Steven Gee KC).

Sarah also has expertise in the field of investment Treaty arbitration, having been instructed in several high-profile ICSID arbitrations, namely:

• Carlyle Group v Morocco: Acting for the Kingdom of Morocco (led by Christopher Harris KC) in a US$ 400 million ICSID claim relating to the insolvency of a major refinery in the Kingdom (ICSID Case No. ARB/18/29).
• Alhambra Resources: Acting for the Republic of Kazakhstan in a US$ 500m ICSID investment arbitration arising from the failure of a gold mining venture (led by Alison Macdonald QC) (ICSID Case No. ARB/16/12).
• Cyprus Popular Bank v Hellenic Republic: Acting for the Claimant in a €2 billion claim against Greece under the Cyprus-Greece bilateral investment treaty (as part of a team led by Tom Beazley QC) (ICSID Case No. ARB/14/16).

Sarah has expertise in representing commercial entities seeking to challenge the legality of legislative and executive measures, both before the English courts and the European Court of Justice. Notable cases include:

• BAT Industries (Plc) v Revenue and Customs Commissioners: acting for the claimant in a challenge to the legality of Part 8C of the Corporation Tax Act 2010 (as part of a team led by Graham Aaronson QC).
• Rosneft: Acting for Rosneft in the oil company’s challenge to the validity of EU sanctions, one of The Lawyer’s “Top 20” cases of 2015 (led by Pushpinder Saini KC, as he then was).

• French