Simon Salzedo QC
Year of Call: 1995 Silk: 2011
"He distils complex issues into simple, practical advice for the client. Commercially minded and extremely responsive, he has excellent attention to detail.” “Astute and perceptive. He knows when to lead and when to listen.”
- Chambers & Partners 2016
“A superb advocate who is very nimble on his feet and very easy to get on with.” “A consummate performer and a brilliant advocate.”
- Chambers & Partners 2015
Simon Salzedo QC is a leading advocate and adviser who is accessible, user-friendly and commercially minded. Simon is recommended by the legal directories for Commercial Dispute Resolution, Banking and Finance, Civil Fraud, Professional Negligence and Insurance & Reinsurance work. He has extensive experience of jurisdiction disputes and all forms of injunctive relief.
As a qualified Chartered Accountant (FCA) Simon is frequently involved in commercial cases calling on his financial, accounting, audit and tax experience (including breach of warranty and fraud claims following corporate acquisitions). Simon is lead author of Accountants’ Negligence and Liability and sits as a legal chairman of FRC disciplinary tribunals.
As joint author of the leading practitioner work on conflicts of interest and confidential information, now in its 5th edition, Simon has specialist knowledge in that field and frequently advises professionals (especially lawyers) and their clients on conflicts issues.
As well as Court work, Simon regularly appears in arbitrations under LCIA, ICC and other rules and is recommended by the directories for International Arbitration work. He is joint author of an annotated guide to the Arbitration Act 1996 and a contributor to an annotation of the 2013 SIAC Rules. Simon also has substantial experience in the enforcement of both judgments and arbitration awards, including jurisdictional aspects, having represented the successful claimants in two major international enforcement battles: Masri and Nomihold.
Simon has a broad commercial practice in Court and in arbitration. Simon has appeared in common law courts overseas, including the British Virgin Islands and the Isle of Man and in the Privy Council on appeal from the Courts of Bermuda.
"A superb advocate who is very nimble on his feet and very easy to get on with." "A consummate performer and a brilliant advocate." (Chambers & Partners 2015)
"A standout barrister who gets great results and is excellent at reading the court." (The Legal 500 2015)
Simon appeared in two of the largest banking trials to emerge from the financial crisis: JP Morgan v BVG and UBS v KWL  EWHC 3615 (Comm). He is presently instructed in the $5 billion HP/Autonomy claim and the ongoing Tchenguiz litigation.
Simon’s other recent general commercial cases include CitizenM v Chil  EWCA Civ 771 (joint venture agreements for development of hotel); Playboy Club v Banca Nazionale del Lavoro SpA  1 WLR 3169 (duty of care for a banker's credit reference); Europa v Anthracite  EWHC 437 (Comm) (construction of termination agreement arising from Lehman investment vehicle); Cosmetic Warriors v Gerrie  EWHC 3718 (Ch) (interpretation of expert valuation provisions in articles of association); Tchenguiz Discretionary Trust v Serious Fraud Office  EWHC 266 (Comm) (collateral use of disclosed documents, abuse of process); Ageas v Kwik-Fit  EWHC 3261 (QB) (breach of warranty, notice provisions, service); Simmons & Simmons v Hickox  3 Costs LO (indemnity costs); Porton v 3M  EWHC 2895 (Comm) (6 week Commercial Court trial of earnout damages claim); Servier v Apotex  RPC 20 (application of ex turpi policy to damages claim); Nomihold v Mobile Telesystems Finance  EWHC 337 (Comm) (freezing injunctions, cross-undertakings, enforcement of arbitration award); Mobile Telesystems Finance v Nomihold  1 Lloyd’s Rep 6; (appeal in relation to freezing order and the ordinary course of business exception); Porton v 3M  EWHC 114 (Comm) (interaction between confidentiality obligations and the principle that there is “no property in a witness”); Lilly Icos v 8PM Chemist  FSR 4 (trial of inquiry into damages on cross-undertaking, involving the effect of illegality on the damages claim).
From 2004 to 2011, Simon acted for the successful Claimant in the Masri v Consolidated Contractors litigation, since 2007 as leading advocate. This litigation ended in 2011 with the payment of the judgment debts in full. Simon’s instructing solicitors won the FT Innovative Lawyer award for the unusual receivership orders obtained in this case.
Simon’s involvement in Masri spanned numerous applications and appeals, including: jurisdiction dispute in the Commercial Court and the Court of Appeal  1 WLR 830; Commercial Court trials of liability and quantum; application to the Court of Appeal to strike out the defendants’ appeal  EWCA Civ 702; cross-appeal as to quantum  2 CLC 49; anti-suit injunction  QB 503; freezing orders and orders for the appointment of a receiver over foreign assets and future debts  QB 450; ground-breaking (and successful) application to the House of Lords to strike out a petition unless the judgment was paid; oral application in the House of Lords concerning leave to appeal and a possible reference to the European Court of Justice; Commercial Court hearing  1 CLC 878 and appeal  1 CLC 82 concerning the interaction of a receivership order with a Lebanese blocking order; appeals up to the House of Lords concerning jurisdictional aspects of examination under CPR Part 71 of the defendants’ directors  1 AC 90; appeal relating to disclosure issues arising on a contempt application  CP Rep 20; applications for an innovative suite of receivership, arbitration and asset preservation orders  EWHC 409 (Comm) and  EWHC 837 (Comm),  Arb LR 12; appeal raising comity issues at  2 CLC 566; strike out of Privy Council appeal as abuse of process  UKPC 29, 78 WIR 141.
“Simon is super-bright and grasps complex instructions very quickly. He is approachable and easy to work with, gives quick turnaround times and will go the extra mile to help out even if instructed at short notice for difficult clients. He wins the respect of clients and judges alike and is a very persuasive advocate.” (Chambers & Partners 2016)
Simon “acts for claimants and defendants across a range of issues, and is highly commended for his high-profile accountants' negligence work. ‘He has good tactical awareness, is calm and unflappable, and is good at balancing the legal issues with human and commercial considerations.’” (Chambers & Partners 2015).
Simon has recently written a practitioners' work on accountants’ liability and negligence for publication in 2016. He is a member of the FRC's panel of legal chairs for disciplinary tribunals. He has expertise in all forms of financial professional negligence including auditing, taxation, valuation, financial advice and investment management and also in solicitors' negligence.
His reported cases in this field include:
Barclays Bank v Grant Thornton  2 BCLC 537 in which Simon obtained summary judgment for his client, Grant Thornton, on a £50 million claim based on the disclaimer in its audit report.
UBS v KWL  EWHC 3615 (Comm), where Simon led for KWL on its successful claim against UBS Global Asset Managers for negligence in the management of a portfolio of credit default swaps, causing loss of some $400m. Simon continues to be instructed in the appeal which is due to be heard in 2017.
Pegasus v Ernst & Young  EWHC 738 (Ch),  PNLR 24,  STI 1387, where a claim for tax losses was assigned together with the shares of the companies which would suffer the losses, this decision considered whether the assignee could carry on the assignor’s claim for damages even though no such loss would any longer be suffered by the assignor.
Dennard v PricewaterhouseCoopers  EWHC 812 (Ch) which concerned a share valuation for vendors. The claim also raised issues about conflicts of interest in the context of valuation and the reasonableness of a limitation of liability.
Pegasus v Ernst & Young  PNLR 11 (Lewison J) and  3 All ER 297 (CA), in which a substantial claim against Simon’s client was in part dismissed summarily for lack of duty of care and another part of the claim was found to be time barred after consideration of the long line of cases from Forster v Outred to Sephton v Law Society.
Charter v City Index, which involved interesting questions about the nature of knowing receipt and rights to contribution, in which he represented PricewaterhouseCoopers before the Chancellor  1 WLR 26 and the Court of Appeal  Ch 313.
Man v Freightliner v Ernst & Young, a claim for some £350 million in which he appeared for Ernst & Young on a strike out application  PNLR 19, an 18 week Commercial Court trial and an appeal on the duty of care issue  PNLR 6,  2 BCLC 22.
Stewart v Engel and BDO Stoy Hayward, in which Simon obtained summary judgment dismissing a claim against a liquidator  2 BCLC 528 and succeeded on appeal in overturning the Judge’s decision to permit an amendment which would have allowed the claim to be revived  1 WLR 2268.
Banking and Financial Services
Legal 500 (2013) says that Simon “is noted for his combination of ‘huge intellect, clear and calm judgement, and willingness to go for the jugular when needed’.”
Simon was part of KWL’s winning team in the 14 week trial of UBS v KWL  EWHC 3615 (Comm) concerning complex Single Tranche Collateralised Debt Obligations and issues of bribery, fraudulent misrepresentation, dishonest assistance in breach of fiduciary duty, capacity under German law and negligent portfolio management. Simon continues to be instructed in the appeal which is due to be heard in 2017.
Simon appeared at the trial of JP Morgan v BVG (as well as the earlier jurisdiction battle reported at  QB 276 (Teare J) and  QB 176 (CA)), arising from a $200m credit default swap transaction, including the reported jurisdiction battle and also the trial involving issues of fraudulent misrepresentation, mistake and capacity under German law, which settled in March 2014 after the factual evidence had been heard.
In Erste Bank v JSC Red October  1 CLC 706 Simon represented the bank in a conspiracy claim for $20m against various companies ultimately controlled by the Russian State which was the subject of judgments on jurisdiction involving issues of the governing law of a tort, the necessary and proper party gateway and forum conveniens.
Simon led for Sir Keith Mills in his high profile claim against Coutts & Co for misselling AIG Bonds. Shortly before trial in December 2012 Coutts & Co admitted liability and a settlement was agreed after Simon had opened the case.
He acted for Aberdeen Asset Managers in Real Estate Opportunities v Aberdeen and UBS, which settled shortly before trial in 2007, though it had by then involved the determination by the Court of Appeal of issues as to the confidentiality of FSA interviews under compulsory FSMA powers, reported at  2 All ER 791.
Simon represented the successful guaranteed annuity rate policyholders in Equitable Life v Hyman  1 AC 408 before the Vice-Chancellor, the Court of Appeal and the House of Lords.
Insurance and Reinsurance
“His advocacy is second to none and you feel he really believes in every point.” (Chambers & Partners 2015)
“Hugely impressive. Not just bright but also tactically superb and good on procedural issues.” (Chambers & Partners 2016)
Simon has appeared in several confidential arbitrations concerning insurance disputes. His reported insurance cases in Court include:
Standard Life v Ace and others  Lloyd’s Rep IR 655. a financial services liability insurance coverage dispute in which Simon’s client obtained judgment for around £100 million. Simon also appeared in the Court of Appeal, which upheld the judgment, rejecting insurers’ argument for apportionment based on marine insurance principles:  1 All ER (Comm) 1371.
Toomey v Banco Vitalicio  Lloyd’s Rep IR 423 in which he represented London reinsurers in a dispute over the insurance of a Spanish football club for relegation risks at trial in the Commercial Court and again in the Court of Appeal.
GE Re v New Hampshire  Lloyd’s Rep IR 404, a film finance reinsurance claim, acting for insurers at a Commercial Court trial.
The Travel Insurance Litigation  Lloyd’s Rep IR 412 at a Commercial Court trial of issues concerning a travel insurance binding authority.
Shipping and Marine Insurance
Simon Salzedo has experience of marine insurance disputes and cargo claims. Standard Life v Ace  1 All ER (Comm) 1371 involved detailed consideration of marine insurance principles of apportionment and their applicability to a liability policy. Simon’s other reported cases include The Happy Ranger  1 Lloyd’s Rep 649, a Commercial Court trial of a claim by cargo interests against the vessel involving issues as to the Hague-Visby Rules, and Nima v Deves: the Prestrioka  2 Lloyd’s Rep 327, representing cargo insurers of a “phantom vessel”, successfully resisting the claim in reliance upon section 44 of the Marine Insurance Act 1906.
Energy and Natural Resources
Simon has frequently undertaken energy related work. The Masri v Consolidated Contractors saga related to oil interests. Other instructions have included major disputes in arbitration relating to a mining joint venture and to a UK steel offtake agreement and a tax claim arising out of long term gas supply contract. Current (2016) instructions include a claim between oil companies arising from an acquisition of certain fields and a dispute in arbitration arising from iron ore mining agreements.
Simon is the author (with Richard Lord Q.C.) of the Guide to the Arbitration Act 1996 and is an author of the annotation to the 2013 SIAC Rules. Simon is a member of the LCIA and accepts appointments to sit as arbitrator. He more often appears in international arbitrations as counsel and in High Court arbitration applications, including injunctions and enforcement issues, such as Mobile Telesystems Finance v Nomihold  1 Lloyd’s Rep 6 and Terna v Bin Kamil Al Shamsi  1 Lloyd’s Rep 86. He is recommended by both the leading guides for international commercial arbitration work. Chambers & Partners (2016) says “He is incredibly bright and he is very good at figuring out the argument. He also bends over himself to be as accommodating as possible and his advocacy is incredibly good too..” Legal 500 (2015) says “Sharp, incisive and very hardworking; his advocacy is first rate and he thinks on his feet.”
Simon has appeared in numerous arbitration hearings, both international and domestic, including under ICC and LCIA rules as counsel. The subject matters have included disputes between banks and clients, reinsurance, insurance, ship building and ship sales, mobile telephone agreements, defence contracts, the supply of machinery, long term steel supply contracts, joint ventures from credit cards to mining and other commercial disputes. Substantive witness hearings in which Simon has acted as sole or leading advocate have included an ICC arbitration in Paris between a sugar refiner and a supplier of packing machinery, an ad hoc arbitration in London between insurer and insured about the latter’s attempt to bring a $200m collateral claim in Texas, an LCIA arbitration between two Russian companies concerning a land transaction, an LCIA arbitration concerning a claim on trade credit insurance and an ICC arbitration of an €80m claim arising from the privatisation of an eastern European telecommunications company.
Simon also accepts appointment as arbitrator and has recent experience as an LCIA tribunal member in energy and insurance disputes.
Playboy Club London Ltd v Banca Nazionale del Lavoro SpA  1 WLR 3169
Erste Group Bank v JSC (VMZ Red October)  1 CLC 706
Barclays Bank v Grant Thornton  2 BCLC 537
Simmons & Simmons v Hickox  3 Costs LO 311
Terna v Bin Kamil Al Shamsi  1 Lloyd’s Rep 86,  1 All ER (Comm) 580 (challenge to arbitration award)
Generics (UK) Ltd v Yeda Research and Teva Pharmaceuticals  Bus LR 777,  FSR 13 (injunction, conflicts of interest, confidential information, in house lawyer)
Standard Life v Ace and others  Lloyd’s Rep IR 655 (Eder J) and  1 All E.R. (Comm) 1371,  Lloyd’s Rep IR 415 (CA) (insurance, mitigation costs, sue and labour, apportionment)
Pegasus v Ernst & Young  PNLR 24,  2 BCLC 734 (assignment, avoided loss)
Mobile Telesystems Finance v Nomihold  1 Lloyd’s Rep 6.  Bus LR 1166 (post-award freezing order)
Consolidated Contractors v Masri  UKPC 29, 78 WIR 141 (Bermuda Privy Council appeal, striking out, abuse of process)
JP Morgan v BVG  QB 276 (Teare J) and  QB 176 (CA) (exclusive jurisdiction, Brussels Regulation)
Masri v Consolidated Contractors  CP Rep 20 (committal for contempt, specific disclosure, illegally obtained evidence)
Servier v Apotex  RPC 20 (application of ex turpi policy to damages on cross undertaking)
Joujou v Masri  2 CLC 566 (receivership order, penal notice against foreign judicial administrators, comity)
Lilly Icos v 8PM Chemist  FSR 4 (damages under cross undertaking and illegality)
Masri v Consolidated Contractors  1 AC 90 (examination of directors on assets, CPR Part 71, extra-territoriality)
Masri v Consolidated Contractors  QB 450 (receiver over foreign assets, freezing order, affidavits of assets, jurisdiction)
Pegasus v Ernst & Young  PNLR 11 (Lewison J) and  3 All ER 297 (CA) (limitation and duty of care)
Masri v Consolidated Contractors  QB 503 (anti-suit injunction)
Man v Freightliner v Ernst & Young  PNLR 6,  2 BCLC 22 (CA) (duty of care)
Charter v City Index  1 WLR 26 (Chancellor) and  Ch 313 (CA) (knowing receipt, contribution)
Real Estate Opportunities v Aberdeen and UBS  2 All ER 791 (FSMA, confidentiality)
Masri v Consolidated Contractors  1 WLR 830 (jurisdiction, Brussels Regulation art.6)
The Happy Ranger  1 Lloyd’s Rep 649 (Hague-Visby Rules)
Toomey v Banco Vitalicio  Lloyd’s Rep IR 423 (full reinsurance clause)
GE Re v New Hampshire  Lloyd’s Rep IR 404 (film finance insurance)
Man v Freightliner v Ernst & Young  PNLR 19 (duty of care, strike out)
Nima v Deves: the Prestrioka  2 Lloyd’s Rep 327 (phantom vessel, Marine Insurance Act s.44)
The Travel Insurance Litigation  Lloyd’s Rep IR 412 (binding authority)
DSM Anti-Infectives v Smithkline Beecham  CLC 900 (jurisdiction)
Hamilton v Al Fayed  QB 1175 (non-party costs order)
Equitable Life v Hyman  1 AC 408 (pensions, bonuses, discretion, implied terms)
Stewart v Engel and BDO Stoy Hayward  1 WLR 2268 (amendment, limitation, finality of judgment)
Stewart v Engel and BDO Stoy Hayward  2 BCLC 528 (liquidator, duty of care)
Matrix Securities v Theodore Goddard and another  PNLR 290 (barrister and solicitor negligence
Accountants’ Negligence and Liability (with Tony Singla), Bloomsbury Professional, 2016.
Conflicts of Interest (with Charles Hollander Q.C.), Sweet & Maxwell, 5th ed 2016.
Guide to the Arbitration Act 1996 (with Richard Lord Q.C.), Cavendish, 1996.
Annotated Guide to the Singapore International Arbitration Centre Rules (with others), Lexis-Nexis, 2014.
Simon was awarded the highest PPE first in his year at Oxford with congratulations from the examiners, qualified as a chartered accountant with Price Waterhouse (ACA, 1993) and came to the bar at Brick Court Chambers in 1995, from where he has practised ever since. He was the Eldon Scholar of the University of Oxford in 1995 and a Wolfson, Cassel and Hardwicke Scholar of Lincoln’s Inn. He became a Fellow of the Institute of Chartered Accountants in England and Wales (FCA) in 2010 and took silk in 2011.
Barrister, Eastern Caribbean Supreme Court (Virgin Islands)
“He distils complex issues into simple, practical advice for the client. Commercially minded and extremely responsive, he has excellent attention to detail.” “Astute and perceptive. He knows when to lead and when to listen.” (Chambers & Partners 2016, Commercial Dispute Resolution)
"Hugely impressive. Not just bright but also tactically superb and good on procedural issues." (Chambers & Partners 2016, Insurance)
"Has advocacy expertise combined with real-world knowledge, which means he can happily talk the language clients understand." (Chambers & Partners 2016, Civil Fraud)
“He is incredibly bright and he is very good at figuring out the argument. He also bends over himself to be as accommodating as possible and his advocacy is incredibly good too.” (Chambers & Partners 2016, International Arbitration)
“Simon is super-bright and grasps complex instructions very quickly. He is approachable and easy to work with, gives quick turnaround times and will go the extra mile to help out even if instructed at short notice for difficult clients. He wins the respect of clients and judges alike and is a very persuasive advocate” (Chambers & Partners 2016, Professional Negligence)
“A standout barrister who gets great results and is excellent at reading the court.” (The Legal 500 2015, Commercial Litigation)
“One of the first choices on a complex financial services case” (The Legal 500 2015, Banking and Finance)
“He is super-bright, very commercial and grasps complex issues very quickly” (The Legal 500 2015, Professional Negligence)
“Sharp, incisive and very hardworking; his advocacy is first rate and he thinks on his feet.” (The Legal 500 2015, International Arbitration)
“A superb advocate who is very nimble on his feet and very easy to get on with.” “A consummate performer and a brilliant advocate.” (Chambers & Partners 2015, Commercial Litigation)
“His advocacy is second to none and you feel he really believes in every point.” (Chambers & Partners 2015, Insurance)
“Intelligent and tenacious, he's a strong advocate.” (Chambers & Partners 2015, International Arbitration)
“He has good tactical awareness, is calm and unflappable, and is good at balancing the legal issues with human and commercial considerations.” (Chambers & Partners 2015, Professional Negligence).
“A very bright lawyer with a wide caseload; excellent with clients.” (The Legal 500 2014, Banking & Finance)
“He performs very strongly in court, reading the judges particularly well.” (The Legal 500 2014, Commercial Litigation)
“Simon is a technically superb, crisp and clear advocate who is excellent to work with.” “His advocacy is compelling. He is passionate about his arguments and draws people along with him.” (Chambers & Partners 2014, Commercial Litigation)
“His ability to think on his feet is excellent, and his drafting and written advice are extremely good.” “He’s intelligent, practical, constructive and easy to deal with.” (Chambers & Partners 2014, Professional Negligence)
“He is practical, has a hands-on approach and is commercially minded.” (Chambers & Partners 2014, International Arbitration)
“can turn his mind to quite literally anything” (Legal 500 2013, Commercial Litigation)
“Simon Salzedo QC is noted for his combination of ‘huge intellect, clear and calm judgement, and willingness to go for the jugular when needed’” (Legal 500 2013, Banking and Finance
“Simon Salzedo QC is ‘a great all-rounder; user friendly, responsive, very able, and good with clients’” (Legal 500 2013, International Arbitration)
“A “crisp and clear advocate,” he is a lawyer whose “imaginative and creative” approach to legal quandaries has proven a godsend to many a solicitor in dire straits.” (Chambers & Partners 2013, Commercial Litigation)
“fantastically user-friendly, and provides a high-quality of service throughout the duration of a case.” (Chambers & Partners 2013, Insurance)
“extraordinarily broad practice expertise, excellent judgement calls and strong rapport with clients” (Legal 500 2012, Commercial Litigation)
“The ‘hugely talented’ Simon Salzedo QC is ‘a pleasure to work with, very responsive, and remains unusually calm under pressure’.” (Legal 500 2012, International Arbitration)
“Star performer” (Legal 500 2012, Banking)
“The ‘absolutely phenomenal’ Simon Salzedo QC’s elevation came as no surprise to market observers, who rate him as a ‘shrewd sharp and efficient’ barrister who ‘excellently explains complex matters so that they are easily understood by lay clients’“ (Chambers & Partners 2012, Commercial Litigation)
“has excellent judgement and always produces the highest quality oral and written submissions” (Legal 500 2011, Commercial Litigation)
“lasers in on the issues in a case brilliantly and invariably beats his opponent to the punch” (Chambers & Partners 2011, Professional Negligence)