Richard Gillis KC

• Primeo Fund (in official liquidation) -v- (1) Bank of Bermuda (Cayman) Limited (2) HSBC Securities Services (Luxembourg) SA (Cayman Grand Court and Court of Appeal)
  For HSBC in the successful defence of US$2bn professional negligence claim arising out of the Madoff securities fraud. Claim dismissed following four-month trial in the Cayman Islands between November 2016 and February 2017. Most recently appearing at the 10 day Appeal hearing in Cayman which took place in November/December 2018 which confirmed the dismissal of the claim.This is the Leading case on function and duties of independent administrators and custodians to offshore hedge funds and one of few final judgments on claims against professional service providers to Madoff feeder funds.
• Defending claims brought under LMA syndicated finance agreements (2015)
• Enforcing jurisdiction agreements in guarantees (2012)
• Acting for the liquidators of Glitnir Bank in proceedings against its former controlling shareholders (2010).
• Acting for unsecured creditors of Kaupthing Singer & Friedlander in proceedings challenging the creation and operation of a trust fund account established at the direction of the Financial Services Authority immediately before the bank went into administration (2010).
• Acting for the claimant in proceedings brought against Daewoo to enforce the interest payment obligations attaching to GKO linked bonds adversely affected by the Russian financial crisis: Chohung Bank v Daewoo (2005)
• Advising Deutsche Bank on calling events of default under a collateralised securities lending agreement.
• Defending claims under a US$ 1.5 billion Yukos related guarantee: LCIA Arbitration (2005).
• Advising on and drafting security documentation.
• Acting for MyTravel before the European Court of First Instance seeking damages from the Commission for its wrongful refusal to permit a merger.
• Representing fund managers Gartmore in the FSA's investigation into the split capital investment trust industry.
• Acting for Abbey National in connection with proceedings in Jersey which asserted that a subsidary had operated an unlawful collective investment scheme.
• Acting for Mytravel in FSA proceedings alleging breaches of the Listing Rules.
• Acting for the accountants' Joint Disciplinary Scheme in disciplinary proceedings brought against Stoy Hayward as former auditors of Astra Holdings, and in further proceedings brought against Mr James, the former Chairman of Astra.
• Defending proceedings brought against Mr Ives by the Joint Disciplinary Scheme.

"He is ferociously clever and brings a clear strategic vision." Chambers UK 2016

• Primeo Fund (in official liquidation) -v- (1) Bank of Bermuda (Cayman) Limited (2) HSBC Securities Services (Luxembourg) SA (Cayman Grand Court and Court of Appeal) 
  For HSBC in the successful defence of US$2bn professional negligence claim arising out of the Madoff securities fraud. Claim dismissed following four-month trial in the Cayman Islands between November 2016 and February 2017. Most recently appearing at the 10 day Appeal hearing in Cayman which took place in November/December 2018 which confirmed the dismissal of the appeal.This is the Leading case on function and duties of independent administrators and custodians to offshore hedge funds and one of few final judgments on claims against professional service providers to Madoff feeder funds. 
• Defending a major high street retailer during a 6 week ICC arbitration in 2019 against fraud and breach of warranty claims arising from the sale of a £4 billion subsidiary operation.
• Defending claims brought against the directors of a failed “unicorn” company (2017)
• Acting for Boris Berezovsky in his high profile multi-billion dollar claim against Roman Abramovich regarding Sibneft and Rusal. (2011)
• Acting for the liquidators of the collapsed Icelandic bank, Glitnir, in proceedings against its former controlling shareholders (2010).
• Acting for Part 20 Defendants in an alleged fraud arising out of the operation of an aluminium smelter in Tajikistan: Tadaz v Ermatov (2008).
• Acting for the liquidators of Barlow Clowes in a substantial accessory liability claim brought against an offshore company service provider: Barlow Clowes v International Trust Company (2005).
• Obtaining freezing orders and Bankers Trust orders in aid of a company's claim against its miscreant director: Team Support v Ramsden (2004).
• Obtaining information disclosure orders on behalf of a mere object of a power against the trustees of an offshore trust to assist in the location of misappropriated assets: Schmidt v Rosewood Trust (2003).
• Acting for investors in a Russian company seeking to recover monies siphoned out of the company through a 'profit skimming' exercise operated by various offshore companies: Schmidt v Lorne House Trust (2000)."
• Defending knowing receipt and dishonest accessory claims brought to recover alleged commission payments made in connection with the running of an aluminum smelter in Dubai: Dubai Aluminium v Livingstone (2000).

"He is ferociously clever and brings a clear strategic vision." Chambers UK 2016

• Advising the administrators of a company regarding potential claims under the Pensions Act 2004 arising in consequence of a 2 billion shortfall on the companys pension scheme (2010).
• Acting for the liquidators of Glitnir Bank.
• Acting for the directors of various Cayman hedge funds (now in liquidation) in Cayman Court proceedings regarding rights of indemnity and schemes of arrangement (2009).
• Representing shareholders holding a controlling shareholding in the London Stock Exchange.
• Acting for the liquidators of Barings on their application to sanction the compromise of certain audit negligence claims.
• Appointing provisional liquidators to prevent the continuance of MTIC fraud.
• Striking out winding up petitions. He has acted in, and advised on, numerous section 459 disputes.
• Bringing or defending numerous directors disqualification proceedings.
• Acting for the liquidators on Enron advising on set-off, preference and transactions at an undervalue.

• Enforcing shareholders agreements regulating the redevelopment of a former military airfield (2012)
• Acting for the claimant in an LCIA arbitration in a joint venture dispute concerning a Nigerian oil field.
• Defending proceedings in which the claimant asserted a joint venture entitlement to a 20% interest in an aluminium smelter in Romania: Krasner v Machitski (2005).
• Acting for the owners of Battersea Power Station defending a claim that asserted a joint venture entitlement to a 50% interest in the power station, alternatively a substantial quantum meruit for services rendered: Gordon Group Holdings v Parkview International (2004).
• Defending proceedings brought to set aside a share sale agreement on grounds of alleged fraudulent misrepresentation: Corinth Healthcare v Coverdale (2003).

• Defending professional negligence claims brought against HSBC subsidiaries as administrator and custodian of a feeder fund that invested with Madoff. (2017).
• Barings v Coopers & Lybrand,  for the liquidators of Barings in their negligence claims against the Banks' former auditors:
• Acting for the liquidators of a holiday company on a professional negligence claim against solicitors, accountants and financial advisers arising out a circular and rights issue.
• Defending negligence claims brought against the designers of an anaerobic waste digester at a meat processing factory.
• Defending claims brought against solicitors which asserted that they negligently failed to obtain good security against names' liabilities at Lloyd's.

• Acting for Transco in warranty claims arising under an agreement for the sale and purchase of a national fibre optic telecommunications 'backbone' used to carry the traffic of Hutchinson Whampoa's UK 3G network: Hutchinson v NGT Telecom (2005).

• Historically, Richard Gillis KC was one of the preferred counsel of Hyundai Heavy Industry, one of the main Korean shipbuilders, acting for the seller against buyers who had rejected new build ships (as the market price had collapsed). He also appeared in a series of arbitrations involving a range of vessels from OBOs (ore bulk oil carriers) to PROBOS (petroleum products, ore bulk oil carriers) to dynamically positioned semi- submersible oil rigs.