Alan Gourgey KC

Banking and financial services

Litigation involving banks and other financial institutions has long been a feature of Alan’s practice. His work focuses on general commercial/contractual disputes, breach of duty and fraud claims.

His recent work includes:

• ICC arbitration in Geneva concerning a substantial fraud claim against a major bank.

• Bank of Moscow JC BVI & Ors: a US$150m claim for misappropriation assets where Alan has been instrumental in obtaining default judgments, freezing orders and committal proceedings.

• Silva Property Investment Ltd v Co-operative Bank: dispute concerning the enforcement of an agreement to purchase an hotel by way of purchase of shares and requiring that a charge in favour of the bank be expunged.

• Clydesdale Bank v Stoke Place Hotel: claims relating to conspiracy to defraud by shareholder directors.

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Civil fraud and asset recovery

Civil fraud is one of Alan’s main areas of practice and on in which he has been recommended by the legal directories for many years. “Outstandingly good on his feet” as well as “very commercial”, Alan’s experience covers deceit and bribery, misappropriation and claims for breach of duty across a wide variety of subject areas from joint venture disputes to private equity litigation. He is also known for his skill in international asset tracing, where his excellent advocacy skills make him ideal for dealing with freezing injunctions and search orders.

His recent work includes:

• Bourlakova & Ors v Kazakov & Ors: acting for the principal defendant in claim concerning circa $3bn of assets. Related claims currently proceeding in 7 other jurisdictions. Hearing on joinder and jurisdiction [2023] EWHC 2223 Ch.
• ABFA Commodities Trading v Petraco Oil: Acted  for the Claimant (formerly VTB Commodities) in a trial for enforcement of a cross-undertaking and of a counterclaim for damages for abusive conduct. Issues concerned claims by Claimant against Petraco alleging fraudulent interference with contract under Russian law. Judgment handed down 30/1/24 [2024] EWHC 147 (Comm).
• Steenbok & Anr v Formal Holdings & Ors: acted for the Defendants in this fraud claim advanced by the claimants as assignees of claims of the Steinhoff Group (a South African conglomerate which collapsed into liquidation). The claims related to payments totalling circa £90m made by the Steinhoff Group. Action settled shortly before trial.
• Stonegate Farmers Limited and Ors v Michael Kent, Peter Dean & Ors: Acts for one of the Defendants. The claim arises out of the sale of a substantial egg business. The claims running to in excess of £100m are for dishonest breaches of fiduciary duty and breach of undertakings given to the competition authority. Trial listed for 2026.
• A v C: London seat arbitration. Lead counsel for the team representing the claimants in an arbitration concerning a joint venture carried on through a vast network of companies, principally in Africa. The claim running to hundreds of millions of dollars are for deceit and unlawful means conspiracy.
• Vneshprombank v Bedzhamov (2022): acting for claimant (Russian bank in liquidation) in relation to £1bn plus claim against Georgy Bedzhamov. The claim relates to collapse of the bank and concerns allegations of fraud and conspiracy.

• VTB Bank v Petraco, Sberbank and Others (2022): instructed on behalf of the Russian State-owned bank in Commercial Court proceedings in which claims are being advanced against Petraco, Sberbank and another company. Claims for circa $250m relate to alleged fraudulent conspiracy concerning supply of oil-based products in Russia.
• Libyan Investment Authority v Credit Suisse and others [2021] EWHC 2684 (Comm): acted for one of the successful defendants in this jurisdiction challenge – a Libyan businessman against whom a claim had been brought by the Libyan Investment Authority alleging fraud and corruption in relation to transactions valued at US$200 million that it had entered into with Credit Suisse bank in 2008 and 2009.
• Akhmedova v Akhmedov [2021] EWHC 545 (Fam): successful representation of Tatiana Akhmedova in pursuing a £453 million divorce award against her ex-husband, Farkhad Akhmedov. Proceedings against the Claimant’s son and Liechtenstein Trustees alleging transactions in defraud of creditors contrary to section 423 of the Insolvency Act 1986).
• JSC Bank of Moscow v Kekhman [2018] EWHC 791 (Comm): acting for bank in successful claims for over $150m in respect of deceit and unlawful dissipation of assets. Claims brought under article 1064 of Russian Civil Code.
• IPCO (Nigeria) Limited v Nigerian National Petroleum Corporation: acting for claimant seeking to resist an arbitration award for US$152m plus interest being set aside on the grounds that it was allegedly procured by fraud. Action settled at trial early 2018.
• Gerald Metals SA v Timis [2017] EWHC 1375 (Comm): acting for claimant in securing and subsequently resisting the discharge of a freezing order in support of unlawful means conspiracy claim for circa $75m.
• Interactive Technology Corporation v Ferster [2016] EWHC 2896 (Ch): claim for breaches of fiduciary duty, misappropriation of assets and other wrong doing in respect of operation of an online gaming business. Together with an unfair prejudice position.
• An ICC arbitration involving fraud claims against a major bank arising out of the Madoff fraud.
• VTB v Nutritek: acting for VTB in claims for unlawful means conspiracy and deceit raised issues of applicable law under PILA.

Download Civil fraud and asset recovery CV

Insolvency

Alan routinely deals with a multitude of issues relating to company and insolvency disputes as part of his commercial litigation practice, details of which are shown above.

This involves him with:

• Shareholder disputes of all types, including claims by minority shareholders and disputes concerning board control.
• Application of the Duomatic Principle on claim by former director against company.
• Directors’ disqualification proceedings.
• Registration and priority of charges.
• Appointment and removal of administrators, liquidators and interim receivers.

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International arbitration

Alan is a prominent and very experienced commercial silk who is recommended by the legal directories as “a real star” for commercial dispute resolution and civil fraud. Regarded as “a brilliant all-rounder” who is truly “outstanding” and a “go to for high value briefs”, his areas of practice also cover arbitration, banking litigation, company and insolvency.

In addition to appearing/advising the English Courts, Alan also has considerable international experience in commercial disputes particularly in relation to international arbitration. He also sits as an arbitrator.

Clients note “his intellectual agility and strong advocacy skills” as well as the fact that “he is very user-friendly and supportive”, “a real team player”. They also value the fact that he is “a very impressive cross-examiner who is completely on the ball and has all the facts at his fingertips”. He is regarded as “a really great advocate who is absolutely outstanding in court”.

Alan has extensive experience of high value and large scale domestic and international arbitrations, be they under UNCITRAL, ICC, LCIA, Stockholm Chamber of Commerce or ad hoc procedures.

His arbitrations in relation to gas supply contracts have involved issues over price adjustments or price formula revisions under long term supply contracts and have required extensive cross-examination of experts on a range of issues including gas pricing, industry practice, economics of gas supply, quantum and foreign law (including for example section 36 of the Swedish Contracts Act).

Alan is a team-player who is well used to slotting into an already established arbitration team and working with the team to present the case before a common law or a civil law tribunal or a combination of the two.

Some of his recent experience includes:

• A v C: London seat arbitration. Lead counsel for the team representing the claimants in an arbitration concerning a joint venture carried on through a vast network of companies, principally in Africa. The claim running to hundreds of millions of dollars are for deceit and unlawful means conspiracy.
• Gazprom v Nafogaz: Acting for Gazprom in two SCC arbitrations relating to gas pricing and transit disputes.Awards delivered in December 2017 and February 2018 in these multibillion-dollar disputes.
• Acting for defendant in joint venture dispute concerning oil and gas fields in Middle East. LCIA Arbitration concluded December 2021.
• Acting for same defendant in relation to dispute under share sale agreement. LCIA arbitration ongoing.
• Acting for defendant in relation to joint venture dispute concerning GPSA in Nigeria. Evidential hearing concluded in January 2022.
• Acting for state gas company in the Middle East in gas dispute concerning long term supply contract with claims circa $5bn. ICC arbitration. Concluded March 2020.
• Acting for claimant in LMIA arbitration relating to supply of copper concentrate in China. Hearing November 2021.
• Acting for claimant in LCIA arbitration concerning joint venture dispute for development of a mine in Russia. Concluded 2020.
• Acting for claimant in linked LCIA arbitrations concerning Joint venture dispute in relation to the exploration and development of a gas field in CIS region. Concluded late 2019.
• Acting for defendant in Joint venture dispute over the development of oil and gas field in the Middle East – dispute concerns governance, investment and earn out issues. Linked LCIA arbitrations (ongoing).
• UNCITRAL arbitration in London concerning breaches of distribution agreements relating to mining equipment.
• ICC arbitration in Geneva concerning a substantial fraud claim against a major bank.
• A Stockholm Chamber of Commerce arbitration involving claims of around $1.5 billion on a gas contract dispute.
• An ICC arbitration concerning price revision, construction and factual issues in respect of a long term take or pay gas supply contract.
• An UNCITRAL arbitration concerning an offshore mooring agreement between an African State and international contractor.
• An ICC arbitration concerning contractual claims relating to major infrastructure project involving parties in London, the USA and Turkey.
• LCIA arbitration concerning the operation of a space satellite.
• An UNCITRAL arbitration concerning a major distribution agreement, raising a range of factual and expert issues.
• An LCIA arbitration concerning a government defence contract.

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