Richard Power

Notable Commercial Disputes Cases

Kea v Ivory Castle [2020] EWHC 472 (Ch)

Acting as lead advocate against a team comprising a KC and two juniors in a Chancery Division action which turned on whether the assets held by Ivory Castle (worth c.£20 million) were in truth held by them for another individual, Mr Watson, such that they were amenable to the execution of the Claimant’s judgment debt against Mr Watson. In February 2020, Richard appeared before Mr Justice Nugee for four days on the difficult legal question of whether (and to what extent) his clients could have resort to assets that were the subject of a “quasi-proprietary’ injunction in order to fund their legal costs. The resulting judgment is now the leading case in this area. Both sides were given permission to appeal to the Court of Appeal on the issues addressed.

A v B (1) & A v B (2) [2020] 1 Lloyd’s Rep. 55, [2021] 1 Lloyd’s Rep. 281

Acting as sole counsel for a Ukrainian businessman in the trial of an action to enforce a $39 million arbitration award against him. The set aside application was heard in March 2020 by Mrs Justice Moulder. That led to a two-day trial before Mr Justice Foxton to determine the factual issues that had been raised in the application.

Robert Tchenguiz v Grant Thornton LLP & Others

Acting (with Stephen Rubin KC and Charles Béar KC) for the businessman, Robert Tchenguiz, in his claim of around £200 million against the accountancy firm Grant Thornton LLP and others for unlawful means conspiracy and malicious prosecution relating to his arrest by the SFO in 2011. The case was widely reported in the press (see, for example, here, and was one of The Lawyer’s ‘Top 20 Cases’ of 2018). A settlement was reached with a related party after the parties’ openings in a trial listed for three months.

McAfee v Dixons

Acting (with Alan Maclean KC) for the high street retail group, Dixons, in defence of a £20 million claim for breach of contract brought by the software company, McAfee, in connection with Dixons’ decision to promote Norton (rather than McAfee) antivirus. The case had considerable publicity in the national press and settled on the opening day of trial.

Caledonian v Clivedale [2020] EWHC 2297 (Comm)

Acting as sole counsel for a property development company in its successful claim for the return of a substantial deposit (c.£2 million) it had paid for a luxury flat on Marylebone Lane, off Oxford Street. The claim turned on whether the flat was ‘Finished’ (within the meaning of the purchase agreement) as of 29 January 2019. Appeared unled in the three-day trial in the High Court.

Confidential Arbitration

Acting (with Tim Howe KC) for an energy company in its US $400 million claim against a national government for damages for breach of a joint venture agreement (2017-2018).

Confidential Arbitration

Acting for an energy contractor in its US $600 million claim against a state-owned enterprise relating to a major infrastructure project (2017).

Rainbowwave v Lisa Marie-Fernandez (2017)

Acting (as sole counsel) for the luxury swimwear designer, Lisa-Marie Fernandez, in proceedings before the High Court concerning the alleged breach of a sales agency agreement.

Ramilos Trading v Valentin Buyanovsky [2016] EWHC 3175 (Comm)

Acting (with Jeff Chapman KC) for the Russian businessman, Valentin Buyanovsky, in defence of proceedings (including an application for Norwich Pharmacal relief) concerning his shareholding in, and the trading of, a major Russian polyplastics company. The case is the leading modern authority on the availability of Norwich Pharmacal relief in support of foreign proceedings.

Play LA v NFC Data Inc & Others

Acting (with Patrick Goodall KC) for NFC Data Inc in defence of a multi-million-dollar claim relating to a share purchase agreement. The eight-day trial was heard in the BVI in November 2015.

Excalibur Ventures LLC v Texas Keystone & Gulf Keystone [2013] EWHC 2767 (Comm)

Acting (with Michael Crane KC and Tamara Oppenheimer KC) for Texas Keystone, a US oil company, in defence of Excalibur’s $1.6 billion claim for an interest in rights to exploit and develop petroleum fields in Iraqi Kurdistan granted to Texas Keystone and one of the Gulf Defendants by the Kurdistan Regional Government. The five-month trial was described by The Lawyer as “one of the biggest trials of the year”.

Slocom Trading Limited v Sibir Energy Plc [2012] EWHC 3464 (Ch)

Acting (with Ian Mill KC and Andrew Hunter KC) for the Russian energy company Sibir in defence of a €50 million claim arising from Sibir’s acquisition of the Villa Maria Irina in the South of France, owned by the Russian oligarch Chalva Tchigirinsky. The case concerned the validity and effect of a series of loan agreements and whether assignments of assets to Slocom could be set aside under s. 423 of the Insolvency Act 1986. The 12-day trial took place in February/ March 2012 before Mr Justice Roth.

Acting (with David Railton KC) for Depfa Bank in the Norwegian “swaps” case. The case raised important issues in the law of restitution (the change of position defence), conflict of laws (the application of Rule 162 of Dicey & Morris: capacity of a foreign corporation) and contractual damages, all of which went to the Court of Appeal.