John Taylor
Call date
1993
Practice Areas
John Taylor has a broadly based commercial practice which includes:
- banking and financial services,
- insurance and reinsurance,
- professional negligence
- aviation
- commercial arbitration
- civil fraud and asset recovery
- company sales/ warranty claims
- international commercial law, conflicts of law and jurisdiction
Recommendations (Practitioners' Guides)
For a number of years John has been recommended by the Legal 500 and Chambers & Partners directories as a leading junior in the fields of banking, finance, commercial litigation and aviation. His practice includes substantial experience working as part of solicitor/counsel teams on large-scale litigation as well as appearing as an advocate in his own right in the High Court, arbitrations and market tribunals. Over the past few years the directories have said:
John Taylor “is an extremely able junior who is a pleasure to deal with.” (Chambers UK, 2010)
He “performs to the highest standard in all he does.” “He is good as he prepares pleadings with an impressive awareness of the detail of the case, and expresses the client’s position simply and robustly.” (Chambers UK, 2010)
John “continues to impress on account of his attention to detail and total identification with his clients’ interests.” (Chambers UK, 2010)
“He continues to impress the market” (Chambers & Partners 2009).
“tenacious, a perfectionist and a tough operator” (Legal 500, 2008).
“John Taylor is great at banking matters” (Chambers & Partners 2008).
“The scrupulous John Taylor impresses in the IXIS litigation” (Chambers & Partners 2007).
“John Taylor has an impressive intellect” and “a high flyer who combines a commercial approach with extensive legal knowledge and attention to detail” (Chambers & Partners 2006).
A “team player” in commercial litigation (Legal 500, 2006).
“An effective advocate and a high flyer with attention to detail” (Legal 500, 2005).
Education
Cambridge University MA in Law (First Class Honours)
Other Qualifications
CEDR accredited mediator.
Memberships
Commercial Bar Association.
The London Common Law and Commercial Bar Association.
Member of the British Association for Sport and Law
Recent Practice
Banking & Finance
John has wide experience in banking litigation including disputes concerning securitisations, collateralised debt obligations, ISDA swaps (including credit default swaps), syndicated loans, letters of credit, bills of exchange, guarantees, cheques, electronic funds transfer, mortgages and other forms of security. John’s work includes “credit crunch” related disputes and frequently involves the disputes arising out of competing claims of lenders, investors, counterparties and insurers in an insolvency situation.
John is a contributor to The Law of Bank Payments (3rd ed. 2004, Sweet & Maxwell).
John has acted as junior counsel on a number of substantial banking disputes including:
- Lonrho plc v Hill Samuel Bank Ltd & Ors (listing particulars and allegations of professional negligence).
- the litigation between syndicate banks which ensued after the trial of preliminary issues in Sumitomo Bank Ltd v Banque Bruxelles Lambert S.A. [1997] 1 Lloyd's Rep 487.
- UCB Healthcare Finance No 1 Limited v UCB Corporate Services Ltd (warranty claim on sale of a portfolio of loans).
- The Box Clever litigation (2004-2008) concerning the disputes between an investor bank and the arranger and joint lead mangers of the £750 million Box Clever securitisation. This major Commercial Court litigation covered the role of the arranger, the lead manager and the financial modellers of the securitised cash flows of the Box Clever rental business. The issues raised required factual and expert evidence across a range of securitisation issues and included expert evidence on securitisation market practice, financial modelling, lending and valuation of securities.
Current and recent banking cases include:
- Advising a major US bond insurer on “credit crunch” related disputes under a credit default swap involving underlying CDOs and other asset backed securities including US sub-prime mortgages.
- Drafting proceedings on behalf of a major US financial institution seeking declarations concerning the construction of an ISDA-based credit default swap, whether Events of Default had occurred, whether the dealer-poll process had been followed and the consequences of failure to abide by terms of the credit default swap.
- Obtaining judgment for a class of Noteholders in a dispute with other classes of Noteholder under the terms of the trust deed and note conditions governing their investment in a structured investment vehicle with underlying assets consisting of US sub-prime mortgage-backed securities (BNY Corporate Trustee Ltd, Re Eurosail-UK 2007 3 BL plc [2009] EWHC 513, Ch, Sales J).
- Advising on numerous swap disputes governed by ISDA Master Agreements.
- Acting for a Russian bank in a multi-jurisdictional dispute concerning enforcement of facility agreements, security, guarantees and the preservation of assets by the obtaining of freezing orders.
- Obtaining a stay of proceedings brought against the National Bank of Abu Dhabi on the grounds of forum non conveniens (Middle Eastern Oil v National Bank of Abu Dhabi [2009] Lloyd’s Rep Plus 6).
- Acting for a Swiss bank in relation to letters of request under the Evidence (Proceedings in Other Jurisdictions) Act 1975.
- Acting for a Russian bank in LCIA proceedings arising out of defaults under facility agreements and claims under guarantees.
- Acting for major clearing and investment banks on claims for alleged breach of fiduciary duty and alleged negligent financial advice.
- Advising major clearing banks on credit card charges and issues arising under the Unfair Contract Terms Act and the Unfair Terms in Consumer Contracts Regulations.
Banking and finance: regulatory work
Regulatory experience includes disputes referred to the Financial Services and Markets Tribunal. Cases include Eurolife Assurance Company Limited v Financial Services Authority (2002), a substantial case referred to the Tribunal concerning authorisation to carry on insurance business and issues of sound and prudent management of an insurance company. Among the many issues in the case was an investigation into the valuation and solvency requirements of various investments and the company’s participation in investments in the US secondary mortgage market.
John has also acted for the London Metal Exchange in disciplinary proceedings concerning disorderly markets and breaches of trading rules concerning open outcry and electronic trading.
Many of John’s recent and current cases involve financial advisers and claims arising out of the FSA’s Conduct of Business and other Rules and s150 Financial Services and Markets Act 2000.
Insurance & Reinsurance
John has acted in a wide range of insurance and reinsurance disputes in the Commercial Court and in arbitration (specific details of which are confidential) including:
- An international reinsurance arbitration concerning long-tail asbestos related claims arising out of thousands of employee claims against employers spanning 5 decades.
- Advising on construction, aggregation and retention issues arising out of numerous types of (re)insurance cover, including excess of loss, quota share, employee fidelity, aircraft hull and liability, D&O, professional indemnity, property, business interruption, and contractors all-risks.
- Numerous claims for negligence against brokers concerning the placing of insurance and reinsurance. Cases have included placement of an overseas national health insurance programme, hotel portfolio all risks insurance and contractors all risks insurance for an oil pipeline.
- Arbitrations between reinsurers arising out of PA LMX business.
- Syndicate 718 v Stirling Cooke Brown Insurance Brokers Ltd and Ors (Commercial Court 1999-2002).
Professional Negligence
John has acted in a wide range of professional negligence cases:
- Accountants: much of 2006 was spent preparing for and in trial defending a multi million pound claim against accountancy firm Chantrey Vellacott which resulted in judgment for the firm. The case had previously been to the Court of Appeal at interlocutory stage (Convergence v Chantrey Vellacott (Times 25.4.05)).
- Solicitors: cases have involved solicitors’ duties when acting for mortgagor and mortgagee, conveyancing practice, the conduct of litigatin and the drafting of commercial contracts.
- Bankers: cases have involved:
- the duties of the trustee of commercial paper issued by a SPV which invested in US sub-prime mortgage-backed securities;
-claims for negligence and breach of contract and fiduciary duty in relation to investment advice and fund management;
- the duties owed between loan syndicate banks;
- disputes concerning the accuracy of listing particulars/ offering circulars;
- warranty disputes on the sale of a portfolio of loans;
- the roles of arrangers and joint lead managers in a securitisation;
- disputes concerning the AIM rules. - Financial Advisers: numerous cases concerning allegations of negligence, breach of fiduciary duty and breach of the FSA’s Rules in the FSA Handbook.
- Insurance and reinsurance brokers: numerous cases including issues of sub-agency and the placing of international risks involving jurisdictional disputes, conflicts of laws and the role of Lloyd's of London's overseas correspondents.
- Surveyors: valuation claims including latent defects and time bar issues.
Aviation
John regularly acts in aviation related matters with experience in disputes concerning aircraft leases, aircraft insurance, aircraft sales, product liability claims, aviation accidents, issues under the Warsaw Convention, CAA regulations and ATOL regulations. Recent cases include:
- Advising lessors of aircraft leased to the Spanish airline Futura International Airways that went into an insolvency procedure in Spain in November 2008. The case involved obtaining urgent injunctions in the Commercial Court.
- Acting on behalf of lessors to XL Airways, the UK operator that went into administration in September 2008.
- Advising lessors of aircraft leased to Silverjet that went into administration in May 2008. Claims involve resolution of contribution/unjust enrichment issues between parties with different proprietary interests in assets leased to Silverjet.
- Advising on claims arising out of the death of 5 passengers in 2008 when their Cessna 500 aircraft, crashed shortly after take off.
- Presently involved in a claim by the owners and head-lessor of an aircraft against a national airline arising out of late re-delivery of the aircraft and failure to maintain the aircraft.
- John acted for BAE in Amiri Flight Authority v BAE concerning the enforceability of exclusion clauses in an aircraft sales contract.
- Much of John’s aviation work takes place in arbitration (specific details of which are confidential) including acting for a major US cargo carrier in aircraft fleet lease disputes with a national airline and many insurance coverage disputes.
John is a contributor to the book Carriage by Air, 1st Ed, 2001 Butterworths
Arbitration
Much of John’s work, particularly aviation and reinsurance, is conducted in arbitration. This work has been conducted under various arbitral regimes, including those under the auspices of the LCIA and the ICC . John’s work also involves applications in the Commercial Court under the Arbitration Act 1996 arising out of the conduct of arbitrations, appeals and the enforcement of overseas arbitration awards.
International commercial litigation, conflicts of law and jurisdiction:
Many of the cases described above involve large-scale international litigation conducted in the Commercial Court or arbitration where John has been part of the solicitor-counsel team in long running cases such as the Prince Jefri litigation and Box Clever litigation, described by The Lawyer as one of the trials of 2008. John’s ability to act as “team player” in large-scale commercial litigation has been recognised in the Legal Directories (Legal 500, 2006).
Conflicts of laws and jurisdiction are issues on which John frequently advises and appears in Court (Middle Eastern Oil v National Bank of Abu Dhabi [2009] Lloyd’s Rep Plus 6 being a case this year).
John also has experience of complex claims in restitution, unjust enrichment, contribution and subrogation in the context of international commercial disputes.
Business and asset sales
John has acted in a diverse range of disputes arising out of share and assets sales, including warranty and misrepresentation claims concerning the title and value of assets sold, “bad leaver” provisions (Realman v Hollywood DVD and Goldberg v Hollywood DVD); disputes under warranties given as to the value of the loans and underlying security of a loan book (UCB Healthcare Finance No 1 Limited v UCB Corporate Services Ltd); claim by minority shareholders against directors for alleged breach of fiduciary duty on sale of an internet business (Anglos Ltd v Kent and Brooks); disputes arising out of accuracy of completion accounts produced by accountants (Admiral Scaffolding Ltd v Simms and Ors).
Energy and Natural Resources
Cases involving disputes arising out of energy and natural resources include:
- Advising on a joint venture for the processing of aluminium ore in Bahrain
- Advising on a dispute between shareholders of an AIM-listed oil-extraction company.
- Advising on insurance coverage issues arising out of a contractors all risks insurance policy concerning an oil pipeline.
Injunctions
John has acted in numerous cases involving the granting of emergency injunctive relief including world wide freezing orders. Towards the end of 2008 John acted on behalf of private equity investors in obtaining freezing orders and final judgment against directors of a company who had defrauded the company of investment funds through a series of false accounting entries.
Other cases
Other cases of note include the following Court of Appeal cases:
- Dexter v Vlielland-Boddy & Ors [2003] EWCA 14, (2003) 147 SJLB 117 concerning re-litigation of the same subject matter and abuse of process.
- GE Information Services Ltd v Harbinger UK Ltd, (Court of Appeal, [2000] 1 All ER (Comm) 166), ruling on the construction of a computer software support and maintenance contract and the right to terminate.
Publications
John is a contributor to the chapters on funds transfer and cheques in the book The Law of Bank Payments (3rd ed, 2004, Sweet & Maxwell).
John is also a contributor to the book Carriage by Air, (1st ed, 2001, Butterworths).
Interests
Tennis, football and skiing.