Experience
Richard specialises in the enforcement and protection of rights in high value and complex situations.
Richard’s practice focusses on major litigation in the English Courts, in International Arbitration, and in regulatory situations. He is often engaged in distress situations with multi-jurisdictional aspects and where urgent steps (such as injunctions) are required to protect assets and interests. Richard leads the London Disputes Group and Fraud Group.
Richard’s practice includes asset recovery and fraud claims, disputes concerning the ownership of corporate entities and associated rights, and distressed projects. Over the course of his 20 year + career, Richard has dealt with matters in many sectors, including Financial Services, Insurance, and Energy and Infrastructure. He has worked for clients in disputes around the world, including in the UK, across Europe and the Middle East, the USA, in Central and Latin America, Africa and South Korea and has represented major corporations, financial entities, governments, trustees and prominent individuals.
Richard believes in “no surprises litigation”. He provides early strategic advice which is then kept under constant review to achieve the client’s objectives. In many cases this involves seeking
to resolve the core dispute through alternative methods prior to trial, including through mediation. That said, Richard has significant experience of running matters to final award, with considerable success.
Examples of Richard’s work include:
Financial Services
- Successfully representing 3 investment bankers in defending the SKAT litigation, a £1.4 bn fraud claim brought by the Danish tax authority arising from cum-ex trading. At first instance, all claims were dismissed.
- Representing a financial entity in $500 m+ fraud claim concerning securities trading, involving dealing with a worldwide freezing injunction.
- Advising a regulated financial institution on liability avoidance mechanisms in threatened high value multi-jurisdictional fraud-based litigation.
- Recovering substantial sums stolen by an asset manager from a Cypriot HNW settled trust.
- Advising an African bank on the recovery of c.$1 bn of failed “investments”.
- Acting for a US PE house in a major regulatory investigation and proceedings brought by the UK Pensions Regulator following the acquisition of a distressed target.
Insurance
- Representing a new Reinsurance JV in defending an allegedly unlawful 20+ team move in a speedy trial procedure.
- Representing a regulated insurance business in its contentious withdrawal from a regulated JV.
- Advising an international Insurance business on shareholder and director rights and taking action to enforce those rights.
- Advising a global Insurance business in proceedings concerning foreign corrupt activities and rights of recovery following an SEC / FCA investigation.
- Pursuing claims against a former director for breach of fiduciary and employment duties.
- Enforcing restrictive covenants against former employees.
Infrastructure and Energy (and arbitration)
- Representing the UK Government in a £400m+ arbitration in the technology sector under the LCIA rules.
- Acting for a Korean owned company in a dispute over the conversion of a coal fired power plan to biomass.
- Acting as project counsel for a Scottish contractor in a dispute over the conversion of a powerplant.
- Representing a listed entity in an ICC arbitration over the construction of a metro system in a prominent Middle Eastern state.
- Successfully challenging a £250m arbitral award in the English Courts so that the award was set aside in full and the matter sent for a full re-hearing (following which the matter settled).
- Representing an overseas Independent Power Producer in an ICC arbitration with its OM&M provider.
- Advising a foreign national utility provider in an ICC arbitration against an Independent Power Producer arising from historic government commitments as to fuel supply.
- Advising an international company in dealing with bond calls in a construction project and subsequent injunctive proceedings which then transferred into proceedings in Paris and which ultimately settled through facilitated negotiation.
Corporate rights
- Advising a PE backed company in warranty and indemnity claims following M&A activity. The matter ran to trial and successful judgment.
- Advising a Canadian listed entity in pursing warranty claims following the acquisition of a German based business. The matter was successfully settled.
- Representing a sovereign fund in a contentious exit from a high value UK investment.
- Advising a listed UK entity in post disposal litigation with the buyer of a division, with claims brought under the SPA and a transitional services agreement.
- Advising founders in a dispute with investors in a contentious exit.
- Representing a minority shareholder in unfair prejudice proceedings. Summary judgment was secured, following which the matter was subject to appeal to the High Court and subsequently the Court of Appeal.
- Representing a minority shareholder in a UK headquartered European business in unfair prejudice proceedings. The matter settled through mediation.
- Representing a corporate in a dispute with a financial intermediary over commission entitlement.
General commercial matters
- Advising a Middle Eastern family office in UK and associated Qatari litigation concerning the termination of a distributor agreement.
- Representing a German based brewery in an ICC arbitration concerning an African joint-venture.
- Advising a foreign drinks supplier on the termination of its European and Middle Eastern distributor network.
- Representing a pharmaceuticals manufacturer in an LCIA arbitration against an Indian generics producer in a dispute concerning the breach of licence terms.
- Representing a UK Energy company in a dispute arising from a 25-year petrochemicals plant maintenance contract.
- Representing a US based gaming company in a dispute over licencing rights.
- Advising a UK water supplier in litigation over failed automated meters.
- Advising an UHNW racehorse owner in a dispute over training fees and with the racing authorities.
- Advising a UK supplier in connection with the termination of a long-term supply contract.
- Representing a UK council in claims arising from a land development project.
Testimonial
‘Substantial experience, in-depth knowledge of the law, very hard-working, sound strategic approach.’ Legal 500
‘Richard Twomey leads the fraud and asset recovery team and is well-versed in some of the largest fraud cases in London.’ Legal 500
‘Exceptional intelligence and judgement on large fraud work.' Legal 500
‘Works extraordinarily hard and has no problem with the most complex legal analysis.’ Chambers and Partners