People

Richard Slade QC

Year of Call: 1987 Silk: 2010

Clerk: Ian Moyler ian.moyler@brickcourt.co.uk

Richard Slade QC

Year of Call: 1987 Silk: 2010

Clerk: Ian Moyler   ian.moyler@brickcourt.co.uk

Expertise

“Excellent at cutting to the heart of the matter and very user-friendly”
- Chambers & Partners

“Extremely capable, pragmatic and a pleasure to work with”
- Legal 500

Overview

Richard Slade QC is a versatile silk with a wide commercial practice, with particular expertise in commercial litigation, banking and insurance/reinsurance disputes. He has been consistently ranked in Chambers & Partners and The Legal 500 for many years as a leading practitioner in these areas, being described as "a real team player and a real battler" (Chambers & Partners), “more than happy to roll his sleeves up and get stuck in” (Chambers & Partners) . He is instructed by UBS in UBS AG, London Branch v Kommunale Wasserwerke Leipzig GmbH  ( Court of Appeal 2017 ) and for company defendants in Alliance Bank v Aquanta Corporation in the Court of Appeal.

practice areas

Commercial

Commercial Litigation

Work includes:

  • 2015-2016: acted for mining company resisting engineering fees claim on ground of secret payments and manipulation.
  • 2015-2016: acted for beauty product manufacturer resisting consultancy fees claim.
  • 2010-2016: acting for Swiss bank in USD 300 million swap recovery claim, and in resisting negligent fund management  allegations.
  • 2012: acted for corporate defendants in challenge to jurisdiction in $1 billion fraud claim brought by Kazakhstan bank.
  • 2011: acted for city company resisting brokerage claim arising out of financial trading.
  • 2008-10: acted in several challenges under 2001 EC Judgments Regulation, instructed by a Canadian mining company, a French insurance syndicate and a Swiss Bank.
  • 2008: instructed for defendants in resisting challenge to $12 billion worldwide freezing order.
  • 2005-2006: advised and acted for pharmaceutical company in substantial contractual claim against US licensee.
  • 2003-2004: acted for Dutch hotel franchise defending claims from French hotel.
  • 2000-2005: acted for Czech bank seeking recoveries following letter of credit fraud.
  • 2001-2003: acted for US retail bank defending claims arising out of letter of credit fraud.
  • 1999-2004: acted for car hire companies claiming damages against solicitors/counsel arising out of unenforceable hire agreements.
  • 1995-2001: acted for liquidator of stockbroking company in contractual and undervalue value against another stockbroker.
  • 1994-2000: acted for Kuwait company in $100 million fraud claim against former officers. 2007-2012: acted in steps to enforce judgment.

International Arbitration: Commercial

  • 2013-2016: acting for personnel supply company defending indemnity claims from oil company arising out of personal injury claims, all under ICC Rules.
  • 2011-2012: acting (with Mark Hapgood QC) in multiple arbitration claims between Russian joint venture and British oil company under UNCITRAL Rules.
  • 2009-2012: acting in NY-Pakistan supply contract dispute under UNCITRAL Rules (London seat).
  • 2005-2007: acted for international distribution company in dispute with former officers in Far East.
  • 2003-2004: acted for German retail company defending arbitration claims under franchise agreements.

Banking

Richard Slade has extensive banking experience, often involving banking rights/liabilities arising from customer fraud. Work includes:

  • 2014-2016: advising and acting for multiple claimants seeking compensation from banks for mis-selling interest rate hedging products.
  • 2010-2016: acting for Swiss Bank seeking USD 300 million recovery on swap transactions.
  • 2011: acted for financial services company resisting brokerage claim arising out of swaps/ credit derivatives trading
  • 2005-2006: acted for Nigerian bank resisting accessory liability for advance fee fraud.
  • 2000-2005: acted for Czech bank in respect of Eastern European letter of credit fraud.
  • 2001-2003: acted for US bank resisting accessory liability for letter of credit fraud.
  • 1994-2000: acted for French bank claiming in tort and on export guarantees following customer fraud.

A contributor (on constructive trusts) to Paget's Law of Banking (edited by Mark Hapgood QC).

Insurance/ Reinsurance

Work includes:

  • 2010-2014: acted for Essex nightclub owner in actions against insurers/ brokers following fire damage
  • 2013-2016: advising clients on insurance consequences of fire damage in restaurants
  • 2011: advised major UK insurer in intra-insurer dispute regarding method of computing motor accident recoveries
  • 2008-2009: (High Court and CA) acted for French insurers in intra-insurer dispute regarding application of Judgment Regulation
  • 2007-2008: acted for insurers (High Court and Court of Appeal) resisting late claim made on tour operator's liability policy, arguing issues of insurers' election/ estoppel
  • 2007-8: advised (led by George Leggatt QC) on the handling of a £400m claim under a bankers' liability policy, acted (led by Christopher Symons QC) in a reinsurance arbitration before a trade panel in Bermuda.
  • 2003-5: acted for major insurance companies in London arbitrations resisting £500 million claim by insured on XL credit insurance
  • 2003-5: acted for reinsurers resisting multi-million claims in respect of clean-up costs arising from "Exxon Valdez" disaster.
  • 1994-1997: advised and acted in litigation & Lloyd's arbitrations arising from LMX spiral.

Professional Negligence

  • Richard has also acted and advised in many professional negligence claims made against banks, underwriters and insurance brokers (including Lipkin Gorman [1989] 1 WLR 1340, Berriman [1996] LRLR 426; Alliance Marine v G E Frankona [2005] EWHC 101 (Comm), Sugar Hut v A J Insurance [2014] EWHC 3352 (Comm) and UBS AG v KWL [2014] EWHC 3615 (Comm)).
  • Has acted and advised in solicitors' negligence disputes, some involving consumer credit issues (including Western Accident v Philpott [Lawtel 17 LTL 17.9.02] Car Crash v Branton Edwards [2002] EWCA Civ 634).

Cases of note include:

  • UBS AG v KWL (Males J) [2014] EWHC 3615 (Comm) – with Ld Falconer in high value and complex swap dispute, including issues of agency, bribery, conflict of interest, portfolio management and appropriate remedy.
  • Sugar Hut v AJI Insurance (Eder J) [2014] EWHC 3352 (Comm) – recovery of business interruption losses from negligent brokers after avoidance by insurers.
  • Alliance Bank v Aquanta (Burton J and CA) [2012] EWCA Civ 1588, acting for company defendants challenging jurisdiction and $1 billion freezing order.
  • UBS AG v KWL (Gloster J) [2010] EWHC 2566 (Comm), resisting (with Mark Hapgood QC) challenge to jurisdiction in $300m swaps claim.
  • Sugar Hut v Great Lakes Insurance (Burton J) [2010] EWHC 2636. Acting for claimant nightclubs seeking recovery on fire policy.
  • Habib Bank v Citibank (Vos J, December 2010): resisting disclosure claim on grounds of financial Regulations implementing EU directive.
  • Youell v LRA (Tomlinson J and CA) [2009] EWCA Civ 175: intra-insurer dispute regarding application of insurance and arbitration chapters of Judgments Regulation.
  • Kosmar Villa Holidays Plc -v- Trustees of Syndicate 1243 (Gross J and CA): [2007] 2 All ER (Comm) 217; [2008] BusLR 931. Acting for defendant resisting late claim on tour operator's liability policy.
  • Mobil Cerro Negro v Petroleo de Venezuela (Walker J) [2008] 1 Lloyd's Rep 684. Acting for claimant resisting discharge of $12 billion worldwide freezing order ancillary to international arbitration.
  • Abou-Rahmah v Abacha (Treacy J): [2006] 1 Lloyd's Rep 484. Acting for defendant bank resisting accessory liability for advance fee fraud.
  • Goshawk v Tysers (Clarke J and CA): [2005] 2 All ER (Comm) 115, [2006] 1 Lloyd's Rep 566. Acting for defendant brokers resisting disclosure demands from underwriters.
  • King -v- Brandywine Reinsurance (Colman J and CA): [2004] 2 Lloyd's Rep 670; [2005] 1 Lloyd's Rep 655. Acting for defendant reinsurers resisting liability to insurers of "Exxon Valdez".
  • Komercni Banka -v- Stone & Rolls (Toulson J) [2003] 1 Lloyd's Rep 383. Acting for claimant bank in respect of Eastern European letter of credit fraud.
  • Credit Lyonnais Bank Nederland -v- ECGD: (Longmore J, CA and House of Lords) [1996] 1 Lloyd's Rep 200; [1999] 2 WLR 540; [2000] 1 AC 486. Acting for claimant bank claiming in tort and on export guarantees following customer fraud.
  • Safa -v- Banque du Caire, (Walker J and CA) [2000] 2 Lloyd's Rep 600. Acting for defendant bank resisting demands on letters of credit on grounds of fraud.
  • Smith & Hayward -v- LloydsHarvey Jones v Woolwich, (CA) [2001] QB 541. Acting for claimant seeking recovery on altered cheque.
  • Phillips -v- Brewin Dolphin (Evans-Lombe J, CA and House of Lords):[1998] 1 BCLC 700; [1999] 1 WLR 2052; [2001] 1WLR 143. Acting for claimant in liquidation following sale of broking business at an undervalue.
  • Kuwait Oil Tanker -v- Al Bader (Moore-Bick J and CA) [2000] 2 All ER (Comm) 271: acting for Kuwait state company in fraud claims against chairman and other former officers.

Qualifications & Further Information

Qualifications

MA (Cambridge) History/Law

Further Information

  • Member of Bar Council Prosecuting Panel 1998-2007
  • Member of Lincoln's Inn Continuing Education Committee since 2007
  • Lincoln's Inn Advocacy Tutor since 1998

Publications

Contributor to Paget, Law of Banking (10th, 11th & 13th Edition)

Directory Quotes

Commercial Dispute Resolution

“Very bright and always able to find a new angle” (Chambers & Partners 2017) 

"Very easy to work with and good at seeing the wood from the trees."  (Legal 500 2016)

“He is very analytical and does not have any of the attitude that you sometimes get with senior barristers. He’s particularly good at international cross-border disputes that have complex legal issues attached to them” (Chambers & Partners 2016)

“He was very accessible to the client, which was great” (Chambers & Partners, 2015)

“He’s decisive and fully-engaged” (Chambers & Partners 2014)

“Extremely capable, pragmatic and a pleasure to work with” (Legal 500 2014)

‘One of his great strengths is that he is a real team player and a real battler,' say sources." (Chambers & Partners 2012)

Insurance

“He’s very, very good. I’ve seen him on both sides and he is thorough and very capable” (Chambers & Partners 2015)

“An approachable, sensible and responsive QC”. “He is user-friendly and more than happy to roll up his sleeves and get stuck in” (Chambers & Partners 2014)

Banking & Finance

"He is very user-friendly, and excellent at cutting to the heart of the matter." (Legal 500 2016)

“Excellent with clients” (Legal 500 2015)

“A charming silk who gets to the point quickly” (Legal 500 2014)

"Richard Slade QC has ‘the ability to cut straight to the point and express clear and unequivocal views, while also being very approachable'." (Legal 500 2012)


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