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Call: 1977    QC: 1995

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Banking & Finance

Banking and finance disputes form a significant part of Terence’s commercial practice and he is ranked as a leading silk in this practice area in The Legal 500. The 2019 edition of The Legal 500 notes that “he has many strengths including care and attention to detail and speed of response”. Previous editions of Chambers & Partners also recognises Terence’s expertise in its UK and Global guides, saying that he has fantastic judgement, is absolutely brilliant in court”, and is a lawyer who exudes extraordinary authority”. The publication also goes on to say he isa popular and much-admired chancery silk, who has undertaken a range of banking, finance, company and insolvency cases worldwide”. 

Matters include:

  • (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 of  banking facilities and security.
  • Acted for the liquidator of Lehman Brothers on the application to repay £19 Billion to various creditors in the absence of  documentation showing which creditor was entitled to it.