Terence is ranked as a leading silk in the directories for chancery commercial, commercial dispute resolution, insolvency, company and offshore.
Much of his work is international in nature and he has a well-deserved reputation for his international expertise, acting and advising in the UK and in many offshore jurisdictions and arbitral tribunals. In particular, he has extensive experience advising on the laws of and/or appearing in The Bahamas, Bermuda, BVI, Cayman Islands, Gibraltar, and the Isle of Man. His pre-eminence in multijurisdictional disputes involves him in strategy, interim remedies such as freezing injunctions, conflicts of law, and asset tracing and recovery. Terence has also acted for and advised clients based in Hong Kong, PRC and BVI.
Banking and finance disputes form a significant part of Terence’s commercial practice.
(1) Irene Michailidis (2) Jonathan Guy Phillips v Credit Agricole Indosuez: Acted for Credit Agricole in the High Court, Court of Appeal and Privy Council in relation to whether Credit Agricole had constructive knowledge that monies credited to an account with the bank were the proceeds of a stolen art collection.
Picard v Banque J Safra (Suisse) SA and Banque Safra (Gibraltar): High-profile long-running banking litigation. Acted for and advised Bank Safra in relation to complex financial mis-selling banking and insolvency issues arising out of the collapse of Bernard L Madoff Investment Securities LLC.
Acted for a major shareholder in a long-running arbitration concerning ultimate control and ownership of a substantial bank in the Ukraine.
Retained by a well-known bank in relation to claims made against it for acting in breach of its fiduciary duties.
Acted in the Cayman Islands for a group of banks led by ABN Amro against JC Flowers to recover $800 million in complex debt structures. Successfully avoiding an attempt to push the company into chapter 11, and ultimately led to a winding up in Cayman.
Crimpfil v Barclays: acted against Barclays in an action over substantial losses incurred through the wrongful withdrawal of an overdraft facility.
Advised in relation to the liability of various banks in respect of the conduct of banking facilities to an insolvent law firm.
Acted on a complex high-value financial mis-selling of swap contracts (case settled).
Frequently advises banks and borrowers on the interpretation ofbanking facilities and security.
Acted for the liquidator of Lehman Brothers on the application to repay £19 Billion to various creditors in the absence ofdocumentation showing which creditor was entitled to it.
Terence has extensive experience in business and commercial matters and a substantial part of his practice involves giving advice in relation to commercial, company and banking matters under English law and that of a number of jurisdictions including The Bahamas, Bermuda, BVI, Cayman Islands, Gibraltar, and the Isle of Man.
Terence has renowned company law experience and has advised on minority shareholders rights and unfair prejudice on numerous occasions in the above listed jurisdictions for clients based in Hong Kong, PRC and BVI.
Lehman Bros International Europe Ltd where he acted for the liquidator in relation to obtaining the court sanction to distribute US $19bn of assets.
Acting for ABC Company in ABC Company (SPV) v J & Co involving an application by an investor in a split portfolio company which had suspended redemptions of a minority of its portfolios to wind up the company.
Singer and Friedlander Investment (IOM) Limited where acted for the liquidator in seeking directions as to the application of client money held by the bank in breach of client money rules.
Madoff Securities International Ltd v Raven and others where he acted for Mrs Kohn in successfully challenging the jurisdiction of the Commercial Court to hear a claim by the New York Madoff entity for the recovery of US $60m in commissions paid to Mrs Kohn.
DE Shaw Oculus Portfolios LLC v Orient – Express Hotels Limited where he appeared in the High Court in Bermuda on behalf of Orient Express Hotels Limited and successfully argued that it was lawful under the laws of Bermuda for a publicly-quoted company to be controlled by its own wholly owned subsidiary.
R v V  All ER (d) 111 successfully appearing for the successful party in the Commercial Court in the arbitration in amatter raising issues as to the enforceability of an award on public interest grounds.
Appeared for a consortium of banks in HSH Cayman v ABN Amro in the Court of Appeal and High Court in the Cayman Island seeking to recover US $600m.
He appeared twice for Herald Fund SPC in relation to contested winding up petitions presented by the Madoff trustee in bankruptcy presented in the Cayman Islands.
Acting on behalf of Caprikat inTullow Oil v Caprikat Ltd before the commercial court in the BVI and successfully defending its rights to hydrocarbons in the BVI.
Acting as an expert witness on Bermuda company law on behalf of Sea Containers in arbitration between GE Capital Containers v Sea Containers where his evidence was accepted.
Acting for Calyon (the former Credit Agricole) in Michailidis v Calyon which has been heard twice in the Gibraltar Court of Appeal, once in the Privy Council, on an issue as to the effect of a foreign judgment and is due to be heard in the Privy Council in the latter half of 2014 on the issue as to when a bank has notice of a third-party claim to monies deposited with it and the relationship of anti-money regulations laundering regulations and notice of third-party claims.
Acting for Wardour in Wadour v Nekrich in the Supreme Court in Gibraltar. Wardour (a subsidiary of Rosneft) is claiming the proceeds of sale of consignments of oil allegedly diverted by Nekrich and Sagredos.
Acted in Derby v Weldon (for the 3rd to 11th Defendants) a matter which involved 115 interlocutory applications before settling three months into the trial.
Business interruption claims – are they spreading?
Two of our commercial silks, Stuart Isaacs KC and Terence Mowschenson KC, discuss the key issues arising at the moment in insurance claims resulting from the interruption to businesses due to the Covid-19 situation.
Stuart Isaacs KC | Terence Mowschenson KC Friday 22 May 2020
Terence is an incredibly experienced silk who has undertaken a range of company and insolvency cases worldwide.
Neville Barry Khan v The Institute of Chartered Accounts. Acted for the Institute in relation to an application by the joint liquidators of the Comet Group PLC and succeeded in obtaining the appointment of an additional independent liquidator to review issues arising in the liquidation of Comet and the conduct of the joint liquidators.
Acted for the liquidator of Lehman Bros International Europe Ltd in relation to obtaining the sanction of the court to the distribution of US$19 billion of assets.
Acted for the liquidator of Singer and Friedlander (IOM) Ltd in seeking directions as to the application of client money held by the bank in breach of client money rules.
Madoff Securities International Ltd v Raven and others. Acted for Mrs Kohn in successfully challenging the jurisdiction of the Commercial Court to hear a claim by Irving Picard as trustee of Bernard l. Madoff Investment Securities limited for the recovery of $60 million paid in commissions.
Acted for Bank J Safra (Gibraltar) in litigation brought by Irving Picard as trustee of Bernard l. Madoff Investment Securities limited.
Acting twice for Herald Fund SPC in Grand Cayman defending bankruptcy petitions presented by Primeo Fund.
Acted for Bank J Safra (Suisse) in litigation brought by Irving Picard as trustee of Bernard l. Madoff Investment Securities limited.
Acting for Vizcaya, Zeus and Asphalia funds in various proceedings brought by Irving Picard as trustee of Bernard l. Madoff Investment Securities limited.
Terence is a highly experienced arbitrator, as evidenced in recent years by his involvement in two substantial arbitrations under the Rules of the Dubai International Arbitration Centre. In these cases was one of three arbitrators on the panel, examining issues arising out of the corporate law of the United Arab Emirates.
He is a member of the ICC, a panel member of the LCIA and a Fellow of the Chartered Institute of Arbitrators and the Australian Centre for International Commercial Arbitration. He is also a panel member of the Kuala Lumpur Regional Centre for Arbitration (KLRCA).
In addition to his sought-after arbitrator experience, Terence has appeared as counsel in numerous arbitrations, and amongst other arbitral rules. He has acted under the rules of the ICC, UNCITRAL, CEPANI, DIAC, LCIA and Chartered Institute of Arbitrators.
Furthermore, he has sat in the Chancery Division as a deputy High Court Judge dealing an array of commercial matters, including those involving significant corporate and insolvency issues, and is also the former chairman of the Financial Reporting Council Tribunal, which investigates accountants’ conduct (among other matters) following an insolvency of a company.
In addition to the above, further arbitrator and counsel experience includes:
Manufacturing and supply contracts.
Appearing as an expert witness in relation to oil exploration contracts at the International Court of Justice in the Hague, where his evidence was upheld at first instance and on appeal.
Complex contractual dispute relating to gas liquefaction facilities in the Middle East.
Ownership of the largest bank in a country formerly part of the old Soviet Union.
Disputes over the mis-selling of securities.
A dispute between online gaming companies over the right to conduct gaming over the internet.
A dispute between developers of a new town and housing estate over the distribution of land in the development scheme.
A dispute over ownership of a brokerage company.
Appearing in the Commercial Court in relation to the enforceability of an award on public interest grounds: acting for the successful party in R v V  All ER (d) 111, which concerned oil concessions in Libya.
Terence has acted in numerous matters involving breach of trust, disputes as to the validity or existence of a trust or the use of trust concepts in a commercial context.
Recent Matters include:
Re Lehman Bros Europe Limited where he acted for the liquidator in relation to obtaining the court sanction to distribute $19bn of assets in circumstances where there was uncertainty as to the identity of the beneficiaries.
Singer and Friedlander Investment (IoM) Limited where he acted for the liquidator in seeking directions as to the application of client money held in breach of client money rules.
Acting on a compromise and settlement of the affairs of one of the wealthiest families in North America sanctioned by the High Court in Bermuda.
Acting for members of a family in litigation over the affairs of a settlement in the Bahamas.
Acting for the 1st Defendant in Michael Goodman v Mina Goodman, Re the Estate of Everard Goodman Deceased  WLR (D) 197 establishing that S 50 of the Administration of Justice Act 1985 applied to executors who had not been granted probate.
Strictly Necessary Cookies
Strictly Necessary Cookies should be enabled at all times so that we can save your preferences for cookie settings.
If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.
Statistic cookies help website owners to understand how visitors interact with websites by collecting and reporting information anonymously.
Keeping this cookie enabled helps us to improve our website.
Please enable Strictly Necessary Cookies first so that we can save your preferences!
WHAT ARE COOKIES AND HOW DO WE USE THEM?
A cookie is a small text file which is stored on your computer, tablet or phone when you visit a website. These cookies allow us to distinguish you from other users of our website. This helps us to provide you with a good experience when you browse our website and also allows us to improve our website.
The law states that we can store cookies on your device if they are strictly necessary for the operation of this site. For all other types of cookies we need your permission.
This site uses different types of cookies. Some cookies are placed by third party services that appear on our pages.
You can at any time change or withdraw your consent from the Cookie Declaration on our website.