Call 2014
"Nick is very bright and with sound commercial judgment - delivers very clear advice and is very user-friendly."
Legal 500
Adam Collins
Team Leader
+44 (0)20 7842 3798
Click here to email
Alfie Sweeney
Team Leader's Assistant
+44 (0)20 3873 6855
Click here to email
Nick Daly specialises in commercial litigation and arbitration and has been instructed in numerous high-profile and high-value commercial disputes in recent years.
Nick is “an excellent, reliable junior” with “infectious enthusiasm for cases and the complex issues they throw up” (Legal 500) who “produces excellent written work and analysis” (Chambers & Partners). His recent instructions include acting for insurers in the Russian aircraft litigation, for VTB Capital in proceedings arising from the “Tuna Bonds” controversy involving over $2 billion of debt guaranteed by the Republic of Mozambique, for an investment bank in the Ingenious Litigation, and in multiple high value arbitrations in both London and Bermuda. He is ranked in the legal directories as a leading junior in four practice areas – Banking & Finance, Civil Fraud, International Arbitration and Professional Negligence – and was nominated for International Arbitration Junior of the Year at the Legal 500 Awards in 2024. His practice also spans a wide range of other areas of commercial work, including insurance, aviation and sport.
Nick is equally comfortable acting as sole advocate or as part of a wider team. In recent years, he has acted for a number of large financial and other commercial institutions, private equity houses and for high net worth individuals, both as an advocate and in an advisory capacity.
The Russian Aircraft Claims
Acting for insurers in claims arising from Russia’s invasion of Ukraine in early 2022. The two sets of claims are worth multiple billions of dollars, with the LP Claims being tried over 12 weeks from October to December 2024, following two substantial jurisdiction challenges in the OP Claims: [2024] EWHC 734 (Comm) and [2024] EWHC 1365 (Comm).
VTB Capital v Republic of Mozambique [2024] EWHC 1957 (Comm)
Acting for VTB Capital in proceedings arising from the so-called “Tuna Bonds” controversy, involving over $2 billion of debt guaranteed by the Republic of Mozambique.
The Ingenious Litigation
Acting for UBS in claims worth in total over £200 million concerning advice given in relation to investments in the Ingenious film partnerships. The dispute resulted in numerous decisions in the High Court and Court of Appeal, including in relation to the defendants’ application for security for costs against a litigation funder, and the Business and Property Courts Disclosure Pilot.
Arani v Cordic Group Limited [2023] EWHC 95 (Comm)
Acting for the successful Claimant in a £20 million claim for fraudulent breaches of warranty under an SPA for the sale of a technology business.
A v B
Acting for the Claimant in high value LCIA arbitration proceedings relating to an alleged conspiracy to deprive a former director and shareholder of his stake in a major CIS bank.
Confidential
Advising on a potential claim in relation to the ownership of a portfolio of artwork worth around US$20 million.
The Russian Aircraft Claims
Acting (with Akhil Shah KC and James Duffy KC) for insurers in claims arising from the Russia’s invasion of Ukraine in early 2022. The two sets of proceedings are worth multiple billions of dollars, and raise complex factual and legal issues. The LP Claims are being tried in the Commercial Court from October to December 2024 (one of The Lawyer’s ‘Top 20 Cases’ of 2024). The OP Claims are at an earlier stage, and two substantial jurisdiction challenges were heard earlier in 2024: [2024] EWHC 734 (Comm) and [2024] EWHC 1365 (Comm).
Gliding Ltd v IAE
Claim against an aircraft maintenance company for negligent services provided in respect of a damaged aircraft (with Akhil Shah KC).
VTB Capital v Republic of Mozambique [2024] EWHC 1957 (Comm)
Acting (with Timothy Howe KC) for VTB Capital in proceedings arising from the so-called “Tuna Bonds” controversy, involving over $2 billion of debt guaranteed by the Republic of Mozambique (one of The Lawyer’s ‘Top 20 Cases’ of 2023).
Rowe & Ors v Ingenious Media Holdings Plc & Ors (The Ingenious Litigation)
Acting for UBS in claims worth in total over £200 million concerning advice given in relation to investments in the Ingenious film partnerships (with Richard Handyside KC and James Duffy), including a successful application for security for costs against a litigation funder ([2020] EWHC 235 (Ch)) and successful appeal in relation to the cross undertaking in damages ([2021] EWCA Civ 29), and decisions in relation to the Disclosure Pilot in the Business and Property Courts. Listed in The Lawyer as one of the “Top 20 Cases” of both 2018 and 2022. The claims settled shortly before a 20-week trial listed to commence in May 2022.
Acting for a major CIS bank in confidential LCIA arbitration proceedings against its former director and shareholder (with Richard Lissack KC).
JB Drax Honore v Cimolai
Acting for Drax, a specialist derivatives broker, in claims relating to high value FX derivatives trades with an Italian construction company (with James Duffy).
ICBC Standard Bank plc & Ors v (1) The Republic of Sudan; (2) The Central Bank of Sudan
$1.5 billion claims brought by a number of banks and financial institutions against the Republic of Sudan and its Central Bank in respect of long-standing indebtedness under agreements dated back to the 1980s, including successful applications in respect of service of the proceedings involving issues of state immunity, service on process agents, and service out of the jurisdiction (with Stephen Moriarty KC).
ICBC Standard Bank plc v (1) Banco Nacional de Cuba; (2) The Republic of Cuba
£1 billion claims brought against Cuba and its Central Bank in respect of Cuba’s long-standing indebtedness to various banks and financial institutions (with Stephen Moriarty KC and Tamara Oppenheimer KC).
Acting for the Claimant in confidential US$100 million LCIA arbitration proceedings arising out of a capital markets transaction used to perpetrate a large-scale fraud.
Madison Pacific Trust Limited v PrivatBank
Acting for PrivatBank in substantial LCIA arbitration proceedings worth over $400 million arising out of a fraudulent scheme relating to the issuance of notes in 2013, including High Court applications for directions relating to the Awards ([2020] EWHC 610 (Ch)) and challenges under s.67 and s.68 of the Arbitration Act 1996 (with Lord Wolfson KC and Simon Atrill KC).
Albinson, Batty, Riddle & Ors v Barclays Partner Finance
Acting for Barclays in multiple claims brought against Barclays under the Consumer Credit Act 1974 arising out of alleged fraudulent mis-selling of timeshares (with James Duffy and unled). Nick is instructed for multiple 10-day trials of batches of the claims (unled) over the next 18 months.
UBS v Infinidat Ltd
Acting for UBS in a $3 million claim arising out of an engagement letter to facilitate investments in an Israeli company (unled).
Proceeds of Crime Act 2002/Money Laundering
Advising multiple banks on their obligations under Part 7 of the Proceeds of Crime Act 2002 (money laundering), and recently acted in a claim for a substantial five figure sum by a customer of a challenger bank for the return of monies from a frozen account (unled).
FSCS v Firstplus & Ors
Defending a c.£15 million claim brought by the FSCS and several thousand consumers against Firstplus relating to the sale of PPI (with Timothy Dutton KC and Simon Atrill KC).
National Bank Trust v Yurov & Ors
A c.$850 million claim governed by Russian law relating to a large-scale banking fraud in Russia, including an application to set aside a freezing injunction (with Patrick Goodall KC and Simon Atrill KC).
Claims in relation to fraudulent bank payments
Advising on and appearing in multiple claims (as sole counsel) arising from fraudulent bank payments, including push payment and spear phishing frauds.
Arani v Cordic Group Limited [2023] EWHC 95 (Comm)
Acting for the successful Claimant in a £20 million claim for fraudulent breaches of warranty under an SPA for the sale of a technology business, tried over 10 days in December 2022.
The Public Institution for Social Security v Al-Rajaan & Ors
Acting for one of the Defendants in proceedings arising out of an alleged US$875 million fraud by the former head of the Kuwaiti state pension and social security fund. Listed for a 30-week trial in 2025.
Ivy Technology Limited v (1) Martin; (2) Bell [2022] EWHC 1218 (Comm)
Acting for the claimant, Ivy Technology, in claims for deceit, conspiracy and under agency principles arising out of the sale of a gambling business in 2019. Ivy succeeded on all its main claims following a 10-day trial in December 2021.
Madison Pacific Trust Limited v PrivatBank
Acting for PrivatBank in substantial LCIA arbitration proceedings worth over $400 million arising out of a fraudulent scheme relating to the issuance of notes in 2013, including High Court applications for directions relating to the Awards ([2020] EWHC 610 (Ch)) and challenges under s.67 and s.68 of the Arbitration Act 1996 (with Lord Wolfson KC and Simon Atrill KC).
Acting for the Claimant in confidential US$100 million LCIA arbitration proceedings arising out of a capital markets transaction used to perpetrate a large-scale fraud.
National Bank Trust v Yurov & Ors
c.$850 million claim governed by Russian law arising out of an alleged large-scale banking fraud in Russia, including a substantial application to discharge a worldwide freezing order (with Patrick Goodall KC and Simon Atrill KC).
VTB Capital v Republic of Mozambique [2024] EWHC 1957 (Comm)
Acting (with Timothy Howe KC) for VTB Capital in proceedings arising from the so-called “Tuna Bonds” controversy, involving over $2 billion of debt guaranteed by the Republic of Mozambique (one of The Lawyer’s ‘Top 20 Cases’ of 2023).
The Russian Aircraft Claims
Acting (with Akhil Shah KC and James Duffy KC) for insurers in claims arising from the Russia’s invasion of Ukraine in early 2022. The two sets of proceedings are worth multiple billions of dollars, and raise complex factual and legal issues. The LP Claims are being tried in the Commercial Court from October to December 2024 (one of The Lawyer’s ‘Top 20 Cases’ of 2024). The OP Claims are at an earlier stage, and two substantial jurisdiction challenges were heard earlier in 2024: [2024] EWHC 734 (Comm) and [2024] EWHC 1365 (Comm).
Arani v Cordic Group Limited [2023] EWHC 95 (Comm)
Acting for the successful Claimant in a £20 million claim for fraudulent breaches of warranty under an SPA for the sale of a technology business (with Paul Sinclair KC).
JD Classics Limited (in administration) v PwC
Acting for the Claimant in a £60 million audit negligence claim arising out of the alleged negligent audit of a company specializing in the sale and restoration of classic cars (with Anneliese Day KC).
Acting for a leading pharmaceutical company in confidential arbitration proceedings relating to the aborted acquisition of a pharmaceutical product worth over £70 million (with Derrick Dale KC).
Ivy Technology Limited v (1) Martin; (2) Bell [2022] EWHC 1218 (Comm)
Acting for the claimant, Ivy Technology, in claims for deceit, conspiracy and under agency principles arising out of the sale of a gambling business in 2019. Ivy succeeded on all its main claims following a 10-day trial in December 2021.
The Public Institution for Social Security v Al-Rajaan & Ors
Acting for one of the Defendants in proceedings arising out of an alleged US$875 million fraud by the former head of the Kuwaiti state pension and social security fund. Listed for a 30-week trial in 2025.
Acting for one of the Respondents in two substantial LCIA arbitrations arising out of disputes between the former owners of a hotel business worth over £1 billion, including widespread allegations of unfair prejudice and damages claims for around £80 million (with Patrick Goodall KC).
Astor v Atalaya
Acting (with Stephen Moriarty KC and Alexander Milner KC) for the defendants in claims worth over €50 million under a Master Agreement relating to the sale of a Spanish mine (following judgments on, inter alia, the proper construction of the Master Agreement: [2017] EWHC 425 (Comm); [2018] EWCA Civ 2407).
Madison Pacific Trust Limited v PrivatBank
Acting for PrivatBank in substantial LCIA arbitration proceedings worth over $400 million arising out of a fraudulent scheme relating to the issuance of notes in 2013, including High Court applications for directions relating to the Awards ([2020] EWHC 610 (Ch)) and challenges under s.67 and s.68 of the Arbitration Act 1996 (with Lord Wolfson KC and Simon Atrill KC).
Wells v Cathay Investments 2 Ltd [2019] EWHC 2996 (QB)
Acting for the successful defendants in a five-day speedy trial concerning whether the claimants were in material breach of their employment contracts and the enforceability of restrictive covenants.
Gemini v (1) CBRE; (2) King Sturge
Acting for the claimant in a claim worth over £200 million arising out of the alleged negligent overvaluation of a £1.2 billion commercial property portfolio (with Mark Simpson KC, Nik Yeo and Nico Leslie).
The Khan Partnership v Al-Shanfari & Al-Rawas
c.£1 million claim by a firm of solicitors against two former clients for unpaid fees and disbursements, with a substantial counterclaim for professional negligence (with Leigh-Ann Mulcahy KC).
Olive Bidco Ltd v Shenton
£15 million breach of warranty and misrepresentation claim by a private equity firm against two former directors of a clothing company (with John Taylor KC).
National Bank Trust v Yurov & Ors
Application to set aside a c.$850 million freezing injunction in a large-scale fraud claim governed by Russian law (with Patrick Goodall KC and Simon Atrill KC).
Doosan Power Systems S.A. v Uniper France Power S.A.S.
Successful application to set aside a without notice injunction to prevent a call on a performance bond (with Rosalind Phelps KC).
Acting for the successful applicant (as sole counsel) in an application for a springboard injunction to restrain a former director of an advertising agency from misusing confidential information and poaching clients.
Acting for one of the Respondents in substantial LCIA arbitration proceedings arising out of disputes between the former owners of a hotel business involving widespread allegations of unfair prejudice (with Patrick Goodall KC).
Tremain v North & Ors
c.£1 million claim relating to the alleged misappropriation of shares in a UK-based foreign exchange company (with Simon Atrill KC). Appeared as sole counsel in a successful application to strike out the claim.
Madison Pacific Trust Limited v PrivatBank
Acting for PrivatBank in substantial LCIA arbitration proceedings worth over $400 million arising out of a fraudulent scheme relating to the issuance of notes in 2013, including High Court applications for directions relating to the Awards ([2020] EWHC 610 (Ch)) and challenges under s.67 and s.68 of the Arbitration Act 1996 (with Lord Wolfson KC and Simon Atrill KC).
Acting for the Claimant in confidential US$100 million LCIA arbitration proceedings arising out of a capital markets transaction used to perpetrate a large-scale fraud.
Albinson, Batty, Riddle & Ors v Barclays Partner Finance
Acting for Barclays in multiple claims brought against Barclays under the Consumer Credit Act 1974 arising out of alleged fraudulent mis-selling of timeshares (with James Duffy and unled). Nick is instructed for multiple 10-day trials of batches of the claims (unled) over the next 18 months.
UBS v Infinidat Ltd
Acting for UBS as sole counsel in a $3 million claim arising out of an engagement letter to facilitate investments in an Israeli company.
Proceeds of Crime Act 2002/Money Laundering
Advising multiple banks on their obligations under Part 7 of the Proceeds of Crime Act 2002 (money laundering), and recently acted as sole counsel in a claim for a substantial five figure sum by a customer of a challenger bank for the return of monies from a frozen account.
Claims in relation to fraudulent bank payments
Advising on and appearing in multiple claims (as sole counsel) arising from fraudulent bank payments, including push payment and spear phishing frauds.
The Russian Aircraft Claims
Acting (with Akhil Shah KC and James Duffy KC) for insurers in claims arising from the Russia’s invasion of Ukraine in early 2022. The two sets of proceedings are worth multiple billions of dollars, and raise complex factual and legal issues. The LP Claims are being tried in the Commercial Court from October to December 2024 (one of The Lawyer’s ‘Top 20 Cases’ of 2024). The OP Claims are at an earlier stage, and two substantial jurisdiction challenges were heard earlier in 2024: [2024] EWHC 734 (Comm) and [2024] EWHC 1365 (Comm).
Acting in multiple confidential Bermuda arbitrations involving claims worth over US$100 million relating to the insurance of medical risk in the US (with Anneliese Day KC).
Advising a hospitality business on a Business Interruption insurance claim following the Covid pandemic.
KX Re v Equitas
Acting (with Derrick Dale KC) in multi-million pound claims between an insurer and reinsurer relating to the proper construction of a Commutation Agreement.
FSCS v Firstplus & Ors
Defending a c.£15 million claim brought by the FSCS and several thousand consumers against Firstplus relating to the sale of PPI (with Timothy Dutton KC and Simon Atrill KC).
Acting in multiple confidential Bermuda arbitrations involving claims worth over US$100 million relating to the insurance of medical risk in the US (with Anneliese Day KC). Listed for several multi-day trials in 2025 and 2026.
Acting for a leading pharmaceutical company in confidential LCIA arbitration proceedings relating to the aborted acquisition of a pharmaceutical product worth over £70 million (with Derrick Dale KC).
Acting for a major CIS bank in confidential LCIA arbitration proceedings against a former director and shareholder (with Richard Lissack KC).
Acting for the Claimant in confidential US$100 million LCIA arbitration proceedings arising out of a capital markets transaction used to perpetrate a large-scale fraud (with Simon Atrill KC).
Acting (with Patrick Goodall KC) in two substantial LCIA arbitrations arising out of disputes between the former owners of a hotel business worth over £1 billion, including widespread allegations of unfair prejudice and damages claims for around £80 million.
Madison Pacific Trust Limited v PrivatBank
Acting for PrivatBank in substantial LCIA arbitration proceedings worth over $400 million arising out of a fraudulent scheme relating to the issuance of notes in 2013 (with Lord Wolfson KC and Simon Atrill KC).
JD Classics Limited (in administration) v PwC
Acting for the Claimant in a £60 million audit negligence claim arising out of the alleged negligent audit of a company specializing in the sale and restoration of classic cars (with Anneliese Day KC).
Acting for a silk defending a negligence claim relating to the conduct of the PIP breast implant litigation (with Anneliese Day KC).
Rowe & Ors v Ingenious Media Holdings Plc & Ors
Acting for UBS in claims worth over £200 million arising out of advice given in relation to investments in the Ingenious film partnerships (with Richard Handyside KC and James Duffy). Listed in The Lawyer as one of the “Top 20 Cases” of 2018 and 2022.
Brightside Group Ltd v Chase-Gardener
Multi-million pound dispute between a company and its former director in respect of alleged negligence and conflict of interest (with Bankim Thanki KC and James Duffy).
Gemini v (1) CBRE; (2) King Sturge
Claim worth over £200 million arising out of the alleged negligent overvaluation of a £1.2 billion commercial property portfolio (with Mark Simpson KC, Nik Yeo and Nico Leslie).
Fountain Court’s Nick Daly has published an article in the Journal of…
16 Fountain Court members are instructed in three of The Lawyer’s ‘Top…
Season 4: Episode 5
This is the fifth episode in the fourth series of The Fountain…
Adam Collins
Team Leader
+44 (0)20 7842 3798
Click here to email
Alfie Sweeney
Team Leader's Assistant
+44 (0)20 3873 6855
Click here to email
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