Lord Wolfson KC

“He is just amazing on his feet and a delight to work with. He combines intellectual capability with natural charm.” “A fantastic advocate. His ability to articulate difficult concepts to the court is exemplary and the clients love him for this.” Chambers UK 2021: Banking & Finance

Deutsche Trustee v Duchess VI CLO BV [2019] EWHC 778; [2020] EWCA Civ 521
Successfully represented the Class F Noteholders in a dispute concerning payments under a CLO structure. The decision was upheld by the Court of Appeal. 

Four Seasons v Barclays Bank [2018] EWHC 1558 (Ch), [2019]  EWCA Civ 1361
Acted for the Four Seasons Care Homes group in successfully obtaining rectification of security documents supporting lending to the group. Four Seasons won at trial, and upheld the judgement in the Court of Appeal. This decision is now the leading modern case on rectification.

LBH v Tschira [2019] EWHC 379
Successfully acted for Lehman Brothers Holdings in a complex ISDA-related dispute arising out of the automatic closing-out of various swaps and their notional replacement.

LIC v Morgan Stanley
Instructed by the bank in striking out a claim brought against it arising out of the financing of a building in Canary Wharf.

NatWest Markets v Rothschild
Acted for Rothschild in a dispute arising out of the World Online IPO.

Rabobank FDIC litigation
Acting for Rabobank in group litigation brought by the US regulator FDIC against a number of banks arising out alleged LIBOR-fixing.

Canary Wharf Finance II Plc v Deutsche Trust Company Ltd [2016] EWHC 100 (Comm)
Successfully represented the long-term noteholders in a dispute over a “Spens payment” in the Canary Wharf securitisation.

ISDA litigation
David undertakes a lot of ISDA-related work. He is currently advising various interested parties about the effect of negative interest rates on ISDA swaps

Tael One Partners v Morgan Stanley [2013] EWCA Civ 473; [2015] UKSC 12
Successfully represented Morgan Stanley in the Court of Appeal and in the Supreme Court, in a leading case about the sale of debt in the secondary market and the market-standard LMA terms.

MetLife v JPMorgan [2016] EWCA Civ 1248
Instructed by JPMorgan, David Successfully defended a $120m claim by MetLife arising out of the sale of Argentinian inflation-linked bonds. The claim involved complex expert economic evidence about measuring hyperinflation in Argentina.

Proxima v various banks
Acted for Proxima (Vincent Tchenguiz) in claims against various banks arising out of complex swaps transactions.

Securities and Exchange Commission v X [2009] EWCA Civ 27
David has often been instructed by the SEC, the US regulatory body, to obtain freezing and other orders to provide restitution to defrauded investors.

AHAB litigation
Successfully acted for CA-CIB (formerly Calyon) in a dispute arising out of an alleged $9bn fraud on a Saudi Arabian partnership company. The trial involved substantial disputes of fact as well as disputes about Saudi Arabian Law.

HSH v Nomura
Following the credit crunch, David acted for HSH and other banks in a various disputes arising out of novation agreements with regard to swaps entered into with Italian municipalities.

R (on the application of RAB Capital & Ors.) -v- The Commissioners of HM Treasury - 'Northern Rock'
Acting for RAB Capital, shareholders of Northern Rock for judicial review following the collapse of the bank and subsequent Government rescue.

"If you have a difficult problem and you need someone to think outside the box, he is the one to choose." "He is excellent on his feet and commands the attention of the judge and clients alike due to his commercial and creative approach." Chambers UK 2021: Commercial Dispute Resolution

Qatar Airways v Airbus
Acted for Airbus in litigation brought by Qatar Airways.  The claim was for billions of dollars in damages and involved complex contractual issues, scientific experts and regulatory matters.  After several hard-fought interim hearings, the claim was settled.

P&ID v Republic of Nigeria
Acting for the company in enforcement proceedings surrounding a multi-billion dollar arbitration award against Nigeria, arising out of a gas contract.  After a 9-week trial, judgment is awaited from the High Court.

Apple proceedings (Competition Appeal Tribunal)
Acting for Apple in proceedings in the Competition Appeal Tribunal arising out of alleged battery issues in iPhones.

Wright v McCormack
Represented Dr Craig Wright in the Court of Appeal in defamation proceedings arising out of the invention of Bitcoin by 'Satoshi Nakamoto'.  The appeal was heard on 15 June 2023 and judgment is awaited.

Barrick litigation
Acting for Barrick in various claims arising out of its operation of the North Mara gold mine in Tanzania.  A trial is scheduled for summer 2024.

Avonwick litigation [2020] EWHC 1844 (Comm)
Acted for Oleg Mkrtchan in a 9 week trial arising out of various disputes between 4 Ukrainian oligarchs. Mr Mkrtchan defeated claims against him in the total sum of approximately $2.5bn and was held to have no financial liability to any of the claimants against him. 

Raiffeisen Bank International v Ashurst [2019] EWHC] 3; [2020] EWCA Civ 11, [2020] EWHC 2602 (Comm)
Acting for Ashurst in a claim arising out of the sale of various Indonesian assets. David won a privilege dispute in the High Court in December 2018 and succeeded in the Court of Appeal in December 2019. The trial was held over three weeks (remotely) in July 2020, and Ashurst succeeded on all points. 

Bilta v Tradition
Acting for the brokers in a claim arising out of an alleged VAT carousel fraud.

Trillium
Acting for Trillium in various matters arising out of long term property and services contracts.

Berkeley Square [2020] EWHC 1015
Acting for Berkeley Square property consultants in a claim brought by companies beneficially owned by the President of the UAE and the Emir of Abu Dhabi. Berkeley Square succeeded on a "without prejudice" privilege point in the High Court, and an appeal is due to be heard in November 2020. The trial itself will take place in 2021.

AssetCo v Grant Thornton [2019] EWHC 150
Led Grant Thornton’s defence to a claim arising out audit work.

EE v Phones4
Acted for EE in various claims brought by the administrators of Phones4U arising out of its collapse into administration.

Uralkali  PJSC
Acted for a bidder for the Force India Formula One team in a dispute arising out of the sale of the franchise.

In the matter of BJUK Ltd [2018] EWCA Civ 763
Defended a claim brought by a creditor arising out of the provisional liquidation. The claim succeeded in the High Court, but David successfully appealed that decision in the Court of Appeal.

Perrigo Israel Agencies
Acted for an Israeli pharmaceutical company in proceedings linked to a large class-action claim in Israel.

Confidential pharmaceutical claim
Acted for a Japanese pharmaceutical company in successfully resisting a claim brought by a joint venture party.

Millicom Tanzania v Golden Globe 2016 ECSCA
Acted in the BVI for Millicom in a dispute concerning a fraud perpetrated on Millicom, obtaining worldwide freezing orders and other relief in the BVI, and also appeared before the Eastern Caribbean Supreme Court.

A confidential dispute between a large fund manager and its insurers
Acted for the insurers in a dispute arising out of unauthorised trading at a large fund manager.

Fawaz al-Attiyah v HE Sheikh Al Thani [2016] EWHC 212 (QB)
Acted in the Court of Appeal for the claimant in a case about the scope of diplomatic immunity.

Clifton Capital v Bluebird
In litigation in the Cayman Islands, acted for investors who bought, but did not receive, Twitter shares in its IPO.

Haverford (Bermuda) Ltd v Wild Goose Holdings Pty Ltd
Acted for Wild Goose in a dispute relating to a Lloyds syndicate.

Biffa v West Sussex County Council
Acted for Biffa in relation to contractual issues arising out of the Materials Resources Management Contract between the parties.

JCB group
Advised Lord Bamford and the group companies in relation to various matters relating to the ownership and structure of the JCB group.

Gaydamak v Leviev [2012] EWHC 1740
Acted for Arkadi Gaydamak in a high-profile dispute with Lev Leviev, concerning the ownership of Angolan diamond rights

David has considerable experience in litigation arising out of unforeseeable events, the doctrine of frustration and the applicability of force majeure and material adverse change clauses.

Much of this work is confidential, but examples include:

COVID-19
Acting for several financial institutions and companies in relation to frustration and force majeure issues arising out of the Covid-19 pandemic.

Thames Valley Power Ltd v Total Gas & Power Ltd [2005] EWHC 2208 (Comm)
Acted for Total Gas in a dispute concerning the applicability of a force majeure contract to a gas supply for Heathrow airport.

LCIA arbitration [2017]
Acted for an Indian steel mill in a dispute with an Australian coal producer which turned on the applicability of the doctrine of frustration.

LCIA arbitration [2012]
Acted for an investment fund in proceedings arising out of a building project in Mumbai where it was argued by the defendants that a force majeure clause applied.

2008 global financial crisis
Advised several banks and other financial institutions as to the applicability of material adverse change clauses as a result of the global financial crisis.

Definitely Maybe (Touring) Ltd v Marek Lieberberg Konzertagentur GmbH (No.2) [2001] 1 WLR 1745
Acted for Oasis in a dispute arising out of the inability of one of the Gallagher brothers to play a concert in Germany. The issues included whether a force majeure clause was applicable.

"He has a very good way of simplyfying things, a good turn of phrase, is really good to deal with and is pragmatic." "He's an outstanding advocate." Chambers UK 2021: Energy & Natural Resources

An energy trader v Major energy company
Acting for an energy trader in arbitration proceedings arising out of a "take or pay" contract.

British Gas Trading v Shell & Esso [2019] EWHC 1735 (Comm)
Successfully represented Esso in a dispute with British Gas about gas pricing for North Sea gas. The case is being heard by the Court of Appeal in November 2020. 

Reliance Industries v The Union of India [2018] EWHC 822 (Comm); [2020] EWHC 263 (Comm)
Acted for the Indian Government successfully resisting challenges made to an arbitration award relating to oil and gas projects off the Indian coast.

Hardy Exploration v The Union of India
Acted for the Indian Government in successfully resisting the recognition and enforcement of a foreign arbitral award.

Confidential pipeline dispute
Acting for an oil company in a dispute about damage to an off-shore oil pipeline.

Tullow Energy
David is instructed by Tullow with regard to a number of projects, mainly in Africa.

Marathon Oil v Centrica [2018] EWHC 322 (Comm) [2019] EWCA Civ 11
Successfully represented Marathon Oil in a trial concerning the ability of an Operator to charge payments designed to remedy a deficit in a pension fund to the other participants in an oil field joint venture. The judgment was upheld on appeal.

Tullow Uganda Ltd v Heritage Oil & Gas Ltd [2013] EWHC 322 (Comm)
Obtained judgment for Tullow of more than £350m in a dispute about a tax indemnity on the farm-down of interests in various petroleum exploration areas in Uganda. David successfully upheld the judgment in the Court of Appeal.

SDP Services
Acted for SDP services in a dispute arising out of the provision of services to the offshore oil industry. David successfully resisted an attempt by the claimants to obtain pre-trial disclosure and the claim settled shortly thereafter.

BSG Litigation - Guinea
Acted for BSG in multi-jurisdictional litigation arising out of the awarding of rights over the Simandou iron ore deposits. There were various claims between BSG, Vale, Rio Tinto and the Republic of Guinea in LCIA arbitration proceedings (London), Federal Court, Southern District (New York) and ICSID (Paris).

Rockover Resources Ltd
Acted for Rockover Resources Ltd in relation to the payment of Royalty Obligations and a tax claim by Gabon Tax Authority under a Share Sale Agreement.

"He's absolutely superb." "A great advocate and tactician - a go-to KC." "One of the cleverest men at the Bar." Chambers UK 2021; Restructuring & Insolvency 

(Much of David's work in this area is advisory and confidential)

Revoker v Rukhadze
Acting for the defendants in the Court of Appeal in a case concerning the ambit of fiduciary duties and the quantification of an account of profits.  (There is an outstanding application for permission to appeal to the Supreme Court.)

NMC Healthcare
Acting for Noor Bank in connection with the collapse of the NMC Healthcare group, in the ADGM (Abu Dhabi Global Market) courts.

An investment company
Advising in relation to sums due to investors on a return of funds to shareholders.

A private equity fund
Advising in relation to the rights of retired partners on the injection of new equity.

Lehman Brothers Ltd [2014] EWHC 704; [2015] EWCA Civ 485; [2017] UKSC 38
David was instructed by LBL in complex “Waterfall I” litigation arising out of the collapse of Lehman. David appeared in these proceedings in the High Court, the Court of Appeal and the Supreme Court.

Lehman ISDA disputes
David is acting for a number of parties in disputes relating to transactions with Lehman entities governed by an ISDA master agreement. The disputes raise several issues of general importance to the market, including the meaning of “Loss” and how it is to be calculated.

Various UK and international companies
Advising companies, their shareholders, sponsors, or holders of debt or bonds about various aspects of debt restructuring.

Phones4U
Acting for EE in connection with claims arising out of the Administration of Phones4U.

Taberna Europe [2016] EWHC 1958
Successfully acted for Barclays Bank in a case arising out of the issue of notes by Taberna. 

Klöckner restructuring
Advised Strategic Value Partners with regard to the restructuring of Klöckner, a large German plastics undertaking. This is believed to be the first time a junior lender has obtained control in a contested situation against the wishes of the senior lenders and the equity sponsor.

Other market-sensitive and confidential restructuring work
David advisers lenders, debt holders, bondholders, noteholders and others in various restructurings and corporate conflicts. Due to the market-sensitive and confidential nature of this work, further details cannot be provided.

Strategic Value Master Fund v Ideal Standard Acquisition [2011] EWHC 171 (Ch)
Obtained judgment for the equity holders against the lenders in a high-profile dispute about an equity cure and the nature of a waiver of an event of default.

Phoenix Kapitaldienst
Represented innocent investors in a “Ponzi” scheme in relation to claims brought by the Administrator of the German investment company.

BTA Bank
Advised various banks and hedge funds with regard to investments in BTA Bank and the restructuring thereof.

Russian bond-issuer
Acted for a large Russian bond-issuing company in a dispute arising out of amendments to the terms of the bonds.

Re Maltby Holdings Ltd
Acted for Terra Firma against administrators in proceedings arising out of the pre-pack of EMI.

Cardiff City Football Club Ltd [2008] EWHC 535 (Ch)
David has acted for Cardiff City FC on several occasions, primarily in defending it from claims advanced by loan note holders. 

Chelsea FC
Acting for Chelsea FC in a dispute arising out of the transfer of John Obi Mikel.

The FA
Acting for the FA in matters arising out of the 2018 FIFA World Cup bid.

Much of David’s work involves jurisdiction and governing law issues. Only cases which had such issues as their central feature are cited in this section.

Midtown v Essar [2017] EWHC 519; [2018] EWHC 2545
Acted for Essar in a case about the enforceability in England of “confession judgments” granted by the New York court.

Hardy Exploration v The Union of India
Acted for the Indian Government in successfully resisting the recognition and enforcement of a foreign arbitral award.

Sulamérica Cia Nacional De Seguros S.A. v Enesa Engenharia S.A [2012] EWCA Civ 638
Acted for respondents to an arbitration in the leading case on the question of which system of law governs an arbitration clause.

Shashoua v Sharma [2009] EWHC 957 (Comm)
Obtained an anti-suit injunction against respondents threatening to bring proceedings in India to stifle an LCIA arbitration (London Seat). 

ARM v Max Lewinsohn [2009] EWHC 1964 (Ch)
Successfully acted for a Luxembourg bond issuer in a dispute being litigated both in Utah and in England, as to whether the English court can stay proceedings brought under Council Regulation (EC) 44/2001, art 2.

United States and Exchange Commission v Manterfield [2008] EWHC 1349 (QB); [2009] EWCA Civ 27
Acted for the SEC, obtaining a worldwide freezing order, without provision of a cross-undertaking. SEC succeeded in maintaining the injunction on appeal.

Kolden Holdings Ltd v Rodette Commerce Ltd [2007] EWHC 1597 (Comm);[2008] EWCA Civ 10
Acted for an investment fund, in Commercial Court and subsequently Court of Appeal proceedings, in a jurisdiction challenge concerning the issue of ‘same parties’ under Council Regulation (EC) 44/2001, art 27/28.

Primacom Management GmbH
Acted for a hedge fund with sub-participation rights in a senior loan and a secured lender in a mezzanine debt.

"He is a very clear advocate and charming with the tribunal, and he has a razor-sharp intellect which is very effective and disarming combination." Chambers UK 2021: International Arbitration (UK Bar and Global)

David is frequently instructed as counsel in arbitrations, governed by various arbitral bodies (including LCIA, ICC, ICSID and Ad Hoc).

David also accepts appointments as Arbitrator. He has considerable experience as arbitrator, both as part of a tribunal, and also as sole arbitrator (including ICC appointments).

AS COUNSEL

An energy trader v Major energy company
Acting for an energy trader in arbitration proceedings arising out of a "take or pay" contract.

Large construction company v Eastern European state
Acting for the company in ICC proceedings arising out of a major construction project in Eastern Europe.

LCIA Proceedings [2019-20]
David acted for the administrators of PrivatBank in proceedings arising out of the frauds of the bank’s former owners. In addition to the arbitration proceedings which are confidential, the award has given rise to various applications and challenges which will be heard by the High Court in 2020. The judgment of Zacaroli J upholding the awards is reported at [2020] EWHC 610 (Ch).

LCIA Proceedings [2018]
Acting for investors in a telecoms provider and successfully obtained award of damages.

SCC Proceedings [2018]
David acted for the Ruler of a Gulf state in claims arising out of mismanagement of an investment fund.

LCIA and ICSID Proceedings [2016]
Successfully represented an Indian company in a dispute concerning the importation of cigarettes and other products into central Africa.

LCIA and ICSID Proceedings [2014-15]
Acting in both LCIA and ICSID proceedings arising out of bribery and fraud allegations concerning the rights to the world’s largest iron ore deposit in Guinea. The award has given rise to various proceedings in the High Court.

LCIA Proceedings [2014]
Insurance coverage dispute arising out of class-action environmental litigation in the US.

LCIA Proceedings [2014]
Dispute between two international car rental companies about rights to the EMEA market.

LCIA Proceedings [2012-14]
US$45 million+ dispute concerning alleged breach of contract arising out of control of international aluminium market.

LCIA Proceedings [2012]
For a Russian company defending a claim arising out of the relationship between a previous arbitral award and obligations to Note Holders.

LCIA Proceedings [2011-12]
For investment fund in proceedings arising out of a large building project in Mumbai.

LCIA Proceedings [2011]
For a hedge fund in a dispute arising out of a slum clearance project in Mumbai.

LCIA Proceedings [2009-12]
For Indian customers defending a claim brought by a multinational bank arising out of loss-making derivative transactions.

LCIA Proceedings [2010]
Acting for a major European energy company in an arbitration relating to the privatisation of Russian electricity generating companies.

ICC Proceedings [2009]
For Indian conglomerate defending a claim arising out of disputed purchases for expensive plant.

ICC Proceedings [2009]
For a commodities seller against a buyer who refused to take delivery (Singapore seat).

 

AS ARBITRATOR

ICC Proceedings [2018]
As sole arbitrator in a dispute about the sale of a plane for use in an African project.

ICC Proceedings [2018]
As sole arbitrator in a dispute about the construction of a power station in the Middle East.

ICC Proceedings [2017]
As sole arbitrator in a dispute about a real estate project in the Middle East.

ICC Proceedings [2016]
As Co-Arbitrator on a three person ICC tribunal considering a dispute in relation to the control of a telecommunications company in Eastern Europe.

ICC Proceedings [2015/16]
As sole arbitrator in a dispute over a Limited Partnership Agreement.

ICC Proceedings [2015]
As Chairman of a three person ICC tribunal considering a dispute over professional consultancy fees.