Fountain Court Chambers

London & Singapore

Rebecca LoveridgeCall Date: 2011

Rebecca is a highly regarded junior who is regularly instructed in complex, high profile commercial disputes. Notable examples include Dana Gas PJSC v Dana Gas Sukuk Ltd, a USD 737 million dispute concerning the validity of an Islamic finance agreement; Aldersgate Investments Ltd v Bank of Scotland Plc, a claim for more than £185 million arising out of the claimants’ entry into LIBOR-referenced transactions; Industrial and Commercial Bank of China Limited v Ambani, a claim for more than USD 685m under a disputed guarantee, and Director of the SFO v ENRC, a highly-publicised dispute concerning the scope of legal professional privilege.

Her cases often have an international dimension, giving rise to disputes as to jurisdiction and choice of law.

Rebecca is regularly instructed as sole counsel to advise and to appear in courts and tribunals. She is equally at home whether dealing with matters on her own or acting within counsel teams on the most substantial matters.

Rebecca was listed in the “Top Ten under Eight Years’ Call” in the Legal 500 2019 and is ranked as an “Up and Coming” Junior for Financial Services in Chambers and Partners 2020.

“She is very responsive and is completely steeped in the detail.” (Chambers and Partners 2020)

Very smart and thorough and great with clients” (Legal 500 2020)

Areas of Expertise

  • Banking & finance
  • Financial services
  • Commercial dispute resolution
  • Fraud: civil
  • Aviation
  • Professional discipline
  • Professional negligence
  • Insurance and reinsurance
  • International arbitration

Recent practice

Aviation

Rebecca is instructed on a wide range of matters involving air travel, aircraft maintenance and other aspects of aviation. Recent cases include the following:

  • Instructed by the defendant in a dispute concerning work carried out, and money owed, under an aircraft maintenance agreement.
  • Instructed by an air services provider in a dispute with a former shareholder.
  • Instructed in a dispute concerning the terms of an aircraft lease agreement.
  • Instructed by the Claimant in a claim for unpaid sums due under an aircraft maintenance agreement.
  • Alpstream AG v PK Airfinance and GE Capital Aviation Services: Instructed as part of the Claimant’s legal team in a substantial dispute involving the alleged sale of aircraft at an undervalue.
  • Instructed by the Civil Aviation Authority on an appeal from the revocation by the CAA of a travel provider’s operating licence.
  • Numerous instances of advising and acting for airlines in relation to disputed claims under the Montreal Convention and EU Regulation 261/2004.

Banking & finance

Rebecca’s practice encompasses a wide variety of banking, finance and consumer credit litigation, ranging from substantial international matters to smaller, consumer-oriented disputes. She has acted for major retail, investment and central banks. Notable examples include the following:

  • Industrial and Commercial Bank of China v Ambani: Acting (with Bankim Thanki QC and Laura Newton) for the Claimant bank in respect of a claim for more than USD 685m under a disputed guarantee.
  • Scarborough Group Developments Limited v Bank of Scotland Plc: Acting (with Richard Handyside QC and Rupert Allen) for the Defendants in respect of a claim by 54 companies and other entities for more than £457m, arising out of the Claimants’ entry into a large number of loan and swap transactions referenced to LIBOR.
  • Dana Gas PJSC v Dana Gas Sukuk Limited: Acted (with Richard Handyside QC) for the Defendants in respect of a claim for more than USD 737 million arising out of a disputed Islamic finance transaction. The matter gave rise to complex jurisdictional issues, with several contested applications concerning anti-suit relief and other procedural matters.
  • Aldersgate Investments Limited v Lloyds Bank Plc: Acted (with Richard Handyside QC and Rosalind Phelps QC) for the Defendant in respect of four consolidated claims for more than £220m, arising out of the Claimants’ entry into loan and swap transactions referenced to LIBOR. The case settled shortly before the commencement of a 5-7 week trial.
  • Acting, as sole counsel, for Falcon Asset Finance (Cayman) Limited in several sets of proceedings against high net worth individuals for payment of sums owed under loan notes issued by those individuals, together with related possession claims.
  • Lloyds Bank v Manak & Ors: Acted for Lloyds Bank in a successful application for summary judgment in respect of a claim under a guarantee, resisting the Defendants’ alleged defences including their allegations of misrepresentation, breach of fiduciary duty and mistake.
  • Considerable experience of acting for major retail banks in relation to allegations of mis-selling of interest rate hedging products, both as sole counsel and with leaders. Including Gray’s Inn Properties v RBS (with John Taylor QC) and St Dominic’s Limited v RBS.  In 2013, Rebecca spent 3 months on secondment to the Financial Markets litigation department of Dentons LLP where she gained extensive experience of swaps litigation.
  • Mallinson v Maxis: Instructed in relation to allegations of breach of contract, negligence and breach of regulatory duty in relation to the opening and operation of an investment account.
  • Quah Su Ling v Goldman Sachs and Ng Su Ling v Goldman Sachs: Instructed (with Bankim Thanki QC and Ben Valentin) for Goldman Sachs in defence of claims concerned with on-demand loan facilities extended to private wealth clients in Singapore. This was featured as one of The Lawyer’s Top 20 cases of 2015.
  • Walker v NatWest [2016] EWHC 315 (Ch): Instructed in relation to a dispute concerning the correct procedure for the payment of redress under the IRHP ‘Review’ following the dissolution of a company.
  • Frost & Ors v Capita Financial Managers: Instructed (with Craig Orr QC and Anna Boase) for Capita Financial Managers in defence of group litigation brought by investors in certain funds alleging breaches of the Defendant’s duties as authorised corporate director of the funds. Involved issues arising under the COLL Rules of the FCA Handbook.
  • Greenwood v RBS: Instructed (with Tamara Oppenheimer) for RBS in defence of a claim for breach of contract/negligence arising out of the registration of defaults with credit agencies.
  • Secure Capital v Credit Suisse: instructed (with Raymond Cox QC and James McClelland) in relation to a claim brought by a Luxembourg fund alleging a breach of a term of a bond.
  • Sebastian Holdings v Deutsche Bank AG: instructed as part of the Defendant’s legal team in relation to a >£5 billion claim.

Civil Fraud

Rebecca is frequently instructed on matters involving allegations of fraud. Notable examples include the following:

  • Scarborough Group Developments Limited v Bank of Scotland Plc: Acting (with Richard Handyside QC and Rupert Allen) for the Defendants in respect of a claim by 54 companies and other entities for more than £457m, arising out of the Claimants’ entry into a large number of loan and swap transactions referenced to LIBOR. The claims include allegations of deceit.
  • Acting (with Paul Gott QC) for the defendant in a commercial dispute involving allegations of deceit, negligence and breach of contract in the context of a waste management and disposal contract.
  • Aldersgate Investments Limited v Lloyds Bank Plc: Acted (with Richard Handyside QC and Rosalind Phelps QC) for the Defendant in respect of four consolidated claims for more than £220m, arising out of the Claimants’ entry into loan and swap transactions referenced to LIBOR. The claims included allegations of deceit.
  • LCIA Arbitration: Instructed (with Derrick Dale QC) in arbitral proceedings concerning allegations of fraudulent manipulation of electronic documents.

 

Commercial Dispute Resolution and International Arbitration

Rebecca has a wide range of experience in commercial matters, both as sole counsel and being led in the most substantial matters. These matters often involve cross-border elements which require consideration of questions of conflict of laws; Rebecca is regularly instructed to advise on such issues.

  • Acting (with Paul Gott QC) for the defendant in a commercial dispute involving allegations of deceit, negligence and breach of contract in the context of a waste management and disposal contract.
  • Dana Gas PJSC v Dana Gas Sukuk Limited: Acted (with Richard Handyside QC) for the Defendants in respect of a claim for more than USD 737 million arising out of a disputed Islamic finance transaction. The matter gave rise to complex jurisdictional issues, with several contested applications for anti-suit relief.
  • Instructed (with Richard Handyside QC) in relation to disputed jurisdiction and choice of law issues in the context of follow-on litigation further to a fine imposed by the European Commission on a number of producers of underground and submarine high voltage power cables.
  • Instructed (with James McClelland) in relation to jurisdiction and choice of law issues arising in the context of allegations of various economic torts.
  • LCIA Arbitration: Instructed (with Derrick Dale QC) in arbitral proceedings concerning allegations of fraudulent manipulation of electronic documents.
  • LCIA Arbitration: Instructed (with Derrick Dale QC) in a substantial arbitration concerning alleged breaches of shareholders’ agreements in the context of the telecoms industry.
  • B.A.T. Industries v Sequana: Instructed (with Ben Valentin QC) on a contested application for specific disclosure in the context of large scale commercial litigation concerning the lawfulness of certain dividend payments.
  • Quah Su Ling v Goldman Sachs and Ng Su Ling v Goldman Sachs: Instructed (with Bankim Thanki QC and Ben Valentin) for Goldman Sachs in defence of claims concerned with on-demand loan facilities extended to private wealth clients in Singapore. This was featured as one of The Lawyer’s Top 20 cases of 2015.
  • Instructed in relation to proceedings by company administrators against the former director of the company, involving issues of de facto and shadow directorship and breach of fiduciary duty.
  • Secure Capital v Credit Suisse: instructed (with Raymond Cox QC and James McClelland) in relation to a claim brought by a Luxembourg fund alleging a breach of a term of a bond.
  • Secretary of State for Transport v Paragon v PHS: Acted (with Henry King) in substantial litigation in the Commercial Court involving allegations of breach of contract and negligence in relation to a dispute as to the proper disposal of confidential documents.

Conflict of Laws and Private International Law

Rebecca’s cases often have an international dimension and she regularly advises and appears on matters giving rise to conflicts of laws and jurisdiction issues. Examples include:

  • Dana Gas PJSC v Dana Gas Sukuk Limited: Acted (with Richard Handyside QC) for the Defendants in respect of a claim for more than USD 737 million arising out of a disputed Islamic finance transaction. The matter gave rise to complex jurisdictional issues, with several contested applications for anti-suit relief and in respect of the consequences of separate anti-suit relief obtained in the UAE.
  • Instructed (with Richard Handyside QC) in relation to disputed jurisdiction and choice of law issues in the context of follow-on litigation further to a fine imposed by the European Commission on a number of producers of underground and submarine high voltage power cables.
  • Instructed (with James McClelland) in relation to jurisdiction and choice of law issues arising in the context of allegations of various economic torts.

Financial Services Regulation

Rebecca is ranked as an “Up and Coming” Junior for Financial Services by Chambers & Partners 2020. She has substantial experience of regulatory issues arising in the context of the provision of financial services and is regularly instructed on matters involving allegations of breach of regulatory duty in that context. Notable examples include:

  • Acting (with Mark Simpson QC) for the Financial Reporting Council in respect of its investigation into the preparation, approval and audit of the financial statements of Sports Direct International Plc for the financial year ending 24 April 2016. The investigation led to contested proceedings concerning the FRC’s entitlement to the production of certain documents (including privileged documents) by SDI: [2018] EWHC 2284 (Ch). Rebecca is due to appear (with Mark Simpson QC) in the Court of Appeal in January 2020 in an appeal from that decision.
  • Acting (as sole counsel and with leaders) for various banks in matters involving allegations of breach of the COBS and COLL rules.
  • Instructed by the Financial Reporting Council (with Timothy Dutton CBE QC and Henry King) in disciplinary proceedings brought against the audit engagement partner and Deloitte in relation to Deloitte’s audit of Aero Inventory plc. The Finance Director was excluded from the profession for 3 years and, following a 5 week tribunal hearing, a record breaking fine was imposed on Deloitte.
  • Pottage v FSA [2013] Lloyd’s Rep FC 16: Assisted (as a pupil) Guy Philipps QC and Henry King in this contentious regulatory dispute concerning the FSA senior managers’ regime. Involved a 3 week trial in the Upper Tribunal.
  • In late 2014 Rebecca spent 3 months on secondment to the Financial Regulation Group at Linklaters LLP where she gained experience of financial services regulatory work and assisted in a matter concerning allegations of breach of duty brought against the authorised corporate director of a fund.

Professional negligence

  • Instructed (as part of a counsel team led by Mark Simpson QC) in relation to a >£200 million claim against two major valuer firms, relating to their allegedly negligent valuation of a £1.2 billion portfolio of commercial properties.
  • Frost & Ors v Capita Financial Managers: Instructed (with Craig Orr QC and Anna Boase) for Capita Financial Managers in defence of group litigation brought by investors in certain funds alleging breaches of the Defendant’s duties as authorised corporate director of the funds.
  • Instructed as sole counsel in relation to allegations of negligence against an independent financial adviser.

Civil procedure and legal professional privilege

Rebecca has particular expertise in the area of legal professional privilege. She is a contributor to Thanki (ed) The Law of Privilege (3rd edn, 2018) and co-authors (with Tamara Oppenheimer and Samuel Rabinowitz) the chapter on English legal professional privilege in Global Investigation Review’s The Practitioner’s Guide to Global Investigations. She has also co-authored (with Bankim Thanki QC, Nik Yeo and Chloe Carpenter) a chapter titled “Privilege” to be published in a forthcoming book, Challenging Private Law, to be published in early 2020.

Notable examples of Rebecca’s privilege cases include the following:

  • Director of the SFO v Eurasian Natural Resources Corporation [2018] EWCA Civ 2006: Represented (with Bankim Thanki QC and Tamara Oppenheimer) the Defendant in a high profile appeal concerning the Defendant’s entitlement to withhold documents from the SFO on grounds of legal professional privilege.
  • Financial Reporting Council Ltd v Sports Direct International Plc [2018] EWHC 2284 (Ch): Represented (with Mark Simpson QC) the FRC in contested proceedings concerning the FRC’s entitlement to the production of certain documents (including privileged documents) by SDI. SDI’s appeal from that decision is due to be heard by the Court of Appeal in January 2020.
  • Sequana v BAT: Instructed (with Ben Valentin QC) in contested proceedings for specific disclosure which arose mid-trial in the context of large scale commercial litigation. Issues included joint privilege and waiver.
  • R (on the application of Prudential plc and another) v Special Commissioner of Income Tax and another [2013] UKSC 1: Instructed (with Bankim Thanki QC, Ben Valentin and Henry King) for the Bar Council, intervening, in this appeal in which the Supreme Court considered the proper scope of legal advice privilege.

Education

  • BPTC, BPP Law School (Outstanding)
  • BCL, Trinity College, Oxford University (Distinction) (papers in Private International Law, Commercial Remedies, Restitution of Unjust Enrichment and International Economic Law)
  • BA (Jurisprudence), St Peter’s College, Oxford University (First class, fourth highest mark in university)

Appointments, memberships, prizes

  • Prize for Outstanding performance on the BPTC (Inner Temple)
  • Major BPTC Scholarship (Inner Temple)
  • Winner of the Oxford Law Society Mooting Competition, 2010
  • Winter Williams Prize for best performance in International Economic Law (Oxford University), 2010
  • Arts and Humanities Research Council Award for Postgraduate Study, 2009-10
  • Proxime Accessit Gibbs Prize for combined performance in Contract, Tort, Land law and Trusts (Oxford University), 2008
  • Quadrant Chambers Prize for best performance in International Trade (Oxford University), 2008

Other experience

  • Volunteer Legal Advisor at Bethnal Green Legal Advice Centre (2012-2013).
  • Seven month internship at Christian Legal Education Aid and Research in Nairobi and Mombasa, providing legal assistance to prisoners on remand and in civil law matters (2009).

Publications

  • Contributor to Thanki, ed. The Law of Privilege (3rd edn, 2018)
  • Co-author (with Bankim Thanki QC, Nik Yeo and Chloe Carpenter) of “Privilege” in Challenging Private Law, to be published by Hart Publishing in early 2020
  • Co-author (with Tamara Oppenheimer and Samuel Rabinowitz) of the chapter on UK Privilege in Global Investigation Review’s The Practitioner’s Guide to Global Investigations
  • Co-author (with Patricia Robertson QC) of the chapter on Expert Witnesses in Professional Negligence and Liability, ed Simpson, Informa, Looseleaf
  • The Uncertain Future of Walford v Miles [2011] LMCLQ 528 (with Alistair Mills)
  • Termination as a Response to Unjust Enrichment [2012] LMCLQ 65 (with Christopher Langley)


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