Rupert Reed

Banking and Finance CV

Rupert has acted in a number of domestic and international banking matters, principally for lenders. 

An increasing amount of his banking practice requires the consideration of issues of Shari'a law arising out of Islamic finance transactions.  He acted successfully in BLOM v. The Investment Dar Co. [2009] EWHC 3545 (Ch), in which the Court was persuaded to consider issues of Shari'a compliance.

Recent / notable cases include:

• With Jonathan Acton Davis QC, acting for an English banker based in Bahrain accused of trade credit finance fraud by the Dubai Islamic Bank in the UAE, in successfully resisting summary judgment for USD 440 million in the English Commercial Court on an Islamic finance agreement intended to reschedule certain liabilities to the Bank but which was arguably not Shari'a compliant (Dubai Islamic Bank PJSC v. PSI Energy Holding Co BSC & Ors [2011] EWHC 2718 (Comm)).
  
  
• Advising various European subsidiaries of a major Lebanese bank in respect of effect on certain existing credit facilities of English and Jersey worldwide freezing injunction made against a Syrian businessman and various persons associated with him (Cargill Africa Investments Limited & Ors v. Mohammed Najeb al Assaf & Ors [2011]).
  
  
• Advising the Administrators of Lehman Brothers in respect of substantial warranty claims against Northern Rock arising out of the purchase of a portfolio of pools of mortgage loans [2011].
  
  
• Advising a former director of a global business in his dispute with Barclays Private Equity as to the value of his shares in the company, and whether Barclays could rely on the leveraging of the company for the purposes of a buy-out and the tax-shielding of revenues to give low maintainable earnings [2011].
  
  
• Latterly with Craig Orr QC, acting for a major Lebanese bank in obtaining an Order for the return of US$11 million in deposits under Islamic Finance contracts with a Kuwaiti bank in what is now the leading Islamic Finance case (BLOM v. The Investment Dar Co.[2009] EWHC 3545 (Ch)).
  
  
• With Jules Sher QC, advising Deutsche Bank in its defence in the Singaporean Courts of claims relating to its exercise of security (Beckkett Pte Ltd v. Deutsche Bank AG & Anor [2009] SGCA 18).
  
  
• Assisting Michael Bloch QC in acting for Bankers Trust in seeking repayment of loans made to government of Moscow (Bankers Trust v. City of Moscow [2004]).