Banking & Finance
“Bright, hard-working and someone with the ability to deal with voluminous technical material.” (Chambers & Partners, 2020)
Daniel has a wide range of experience in banking and finance litigation and is regularly instructed by major retail, commercial and investment banks to both advise and appear in interlocutory matters, trials and appeals. He has appeared as sole advocate in the County Courts, High Court and the Court of Appeal, and advises in relation to FCA compliance and investigations. Recent and ongoing matters include:
- Advising a substantial Middle Eastern bank in relation to potential civil liabilities in relation to alleged currency fixing as a part of an alleged international conspiracy.
- Bank Mellat v HM Treasury: Settled in June 2019, Daniel was instructed (led by Tim Young QC and Nicholas Vineall QC) on behalf of the claimant bank in its commercial court claim for $4bn in damages against the UK Government for breach of its ECHR rights caused by unlawful sanctions. One of the Lawyer’s Top 20 cases of 2017.
- RBS Shareholders’ litigation: Daniel was instructed as a part of the trial team (led by David Railton QC) preparing the bank’s defence relating to its £8bn Rights Issue in 2008. Specifically, Daniel was engaged throughout 2016 and 2017 in the preparation (as sole junior) in the Bank’s defence in relation to the RBS Group’s c.£100bn of credit market exposures and (with Simon Hatton) in its c.£400bn liquidity and funding profile. One of the Lawyer’s Top 20 cases of 2017.
- Advising a substantial European bank in relation to regulatory proceedings and potential civil liabilities for conspiracy in relation to alleged price fixing in the London gold and silver markets.
- The Mcgraw-Hill litigation: Daniel was instructed (led by Richard Handyside QC and Nik Yeo) by a major investment bank on a number of substantial commercial court claims (valued in excess of €200 million) concerning the development, rating, and sale of synthetic structured finance products (“CPDOs”), with these claims settled in 2017.
- Patel v NatWest  EWCA Civ 332: Daniel appeared (as sole advocate), successfully resisting an appeal against a decision refusing late amendment of a claim, resulting in the Claimant withdrawing its claim.
- Interest rate swaps litigation: Daniel has been instructed (both as sole counsel and with leaders within and without chambers) by several retail banks in relation to substantial (multi-million pound) High Court claims defending allegations of mis-selling of interest rate hedging products.
- JP Morgan v BVG (2008 Folio 1052): Daniel acted (in a team led by Laurence Rabinowitz Q.C. whilst seconded to Linklaters LLP) in a c.$210m commercial court claim concerning the sale of a synthetic collateralised debt obligation (“CDO”) transaction. One of the Lawyer’s Top 20 Cases of 2014.
Commercial dispute resolution
Daniel has a wide range of experience (interlocutory matters, trials and appeals) of commercial litigation from the County Courts to the Court of Appeal, with particular experience in matters involving allegations of fraud and conspiracy. Recent and ongoing matters include:
- SKAT v Solo Capital Ltd & Ors: Daniel is currently instructed (led by Patricia Robertson QC) on behalf of a co-defendant group in the preparation of their defence for c.£1.3 bn plus of damages (plus other relief) against allegations of fraud, conspiracy, dishonest and knowing assistance plus proprietary relief, appearing (as sole advocate) on multiple return dates in relation to a worldwide freezing order and proprietary injunction.
- Advising (as sole counsel) an oil-refinery in respect of a multi-million power claim arising from power cuts in the summer of 2019.
- Wojakovski v Matyas & Ors: currently instructed (as sole counsel) on behalf of an alleged de facto director in a substantial High Court claim alleging unfair prejudice and breach of directors’ duties in relation to a multi-million-pound company.
- Bogolyubov & Kolomoisky: Advising (led by Richard Lissack QC) in relation to a successful application to discharge an asset restraint order made pursuant to the Isle of Man Proceeds of Crime Act 2008.
- H TV Ltd v ITV2 Ltd  EWHC 2840 (Comm): (led by Deepak Nambisan) a three-week trial (before Flaux J as he was then) relating to a wide range of contractual issues including formation, construction, repudiatory breach, and calculations for loss. Daniel was also instructed in the appeal on this matter (led by Michael Crane QC), which settled shortly before being due to be heard in late 2017.
- Boreh v Djibouti  EWHC 769 (Comm): (in a team led by Lord Falconer) a high-profile hearing (before Flaux J as he was then) relating to an application to set-aside a freezing order and proprietary injunction.
- Tempo v Fortuna  2 CILR 191: Daniel was led by Michael Green QC in an eight-week trial in the Cayman Islands (before Henderson J) of a shareholder dispute relating to a substantial (approximately $1 billion) company. This matter raised a wide range of company and contract law issues including as to: directors’ obligations, fraud upon the minority, contractual formation, repudiation, plus issues of Taiwanese, Samoan and Caymanian law.
- Air Transworld Ltd v Bombardier Inc EWHC 243 (Comm) (in a team led by Michael Crane QC) the successful defence of a $30 million claim for the purchase price of an Aircraft. Part heard, Cooke J in the Commercial Court found for the Defendant on all points.
Daniel is regularly instructed and advises in respect of negligence claims against professionals including lawyers (solicitors and barristers), insurance brokers, bankers, financial advisors and accountants. He has particular experience of defending claims involving the management of investment funds and is a contributor to the journal of professional negligence. Professional negligence matters in which Daniel is acting and has acted includes:
- Advising (as sole counsel) in relation to breach of duty by an external legal advisor in relation to the incorporation and share subscription of a substantial BVI company.
- Advising (as sole counsel) individual directors and other regulated individuals in relation to an ongoing FCA investigation.
- Acting (as sole counsel) in two substantial High Court claims relating to solicitors’ conduct of litigation and the provision of legal advice.
- Acting (as sole counsel) in a High Court claim relating to allegations of negligence against a leading insurance brokerage.
- Boreh v Djibouti  EWHC 769 (Comm): (in a team led by Lord Falconer) a high-profile hearing (before Flaux J) relating to an application to set-aside a freezing order and proprietary injunction
- Acting (with Raymond Cox QC and Bridget Lucas) in the preparation of the successful defence and counterclaim of a Jersey-based investment fund-manager and custodian from a multi-million euro claim alleging, inter alia, breach of contract and professional negligence.
- Acting on behalf of the Solicitors Regulation Authority seeking the recovery of misapplied funds.
Daniel is regularly instructed and advises in respect of company law matters, and in particular disputes as between shareholders. Recent company law matters include:
- Currently advising (as sole counsel) on claims for breach of a shareholders’ agreement, wrongful dismissal, and a petition for unfair prejudice in relation to two FCA regulated asset management companies.
- Currently advising (as sole counsel) on potential liabilities arising from asset transfers to directors and members (including disqualification and s.994 unfair prejudice proceedings) of multiple companies/partnerships in a complex holding structure.
- Currently advising (as sole counsel) in relation to share transfers, breaches of directors’ duties and a shareholder agreement in relation to a substantial BVI company.
- Currently advising (as sole counsel) on a prospective unfair prejudice petition (amongst other remedies) in relation to a substantial tech start up.
- Weatherley v Weatherley & Ors  EWHC 3201 (Ch) Daniel was instructed (as sole counsel) in the interlocutory proceedings, strategy and preparation up to trial (for which he was unavailable) of the successful defence of an unfair prejudice petition in relation to a substantial company.
- Tempo v Fortuna  2 CILR 191: (led by Michael Green QC): an eight week trial (before Henderson J) in the Cayman Islands of a shareholder dispute to an extremely substantial (approximately $1 billion) company that raised a wide range of company law issues including: bearer shares, the scope and application of the Duomatic principle, shareholders’ meetings, directors’ obligations, fraud upon the minority, as well as issues of Taiwanese, Samoan and Caymanian law.
- Daniel completed secondments within the litigation departments of Jones Day (2011) and Linklaters (2013).
- Daniel completed the intensive Harvard Law School advocacy and negotiation workshops (2008-2009) and also the South Eastern Circuit’s advanced advocacy course (2013).
- COMBAR, LCLCBA, Young lawyers fraud association