Practice Expertise
- Dispute Resolution and Litigation
- Banking and Finance Litigation
- Commercial Litigation
- Corporate Disputes
Areas of Practice
- Banking and Finance Litigation
- Commercial Litigation
- Corporate Disputes
- Dispute Resolution and Litigation
- Fraud and Asset Tracing
- Restructuring and Insolvency
- Trust Litigation
- Trusts and Private Wealth View More
Profile
Richard is a partner practising BVI law from Carey Olsen’s London office. Richard's practise encompasses all aspects of BVI commercial disputes, but with a focus on insolvency, fraud and asset recovery, shareholder disputes and contentious trust matters. Richard is also able to advise clients facing investigations by the BVI's International Tax Authority and other contentious regulatory matters.
Richard has particular experience of cases which raise complex jurisdictional issues and where proceedings are on foot in several jurisdictions. He regularly obtains interlocutory relief such as freezing injunctions, and also assists clients in resisting and overturning such orders. .
Richard's location in London enables him to advise clients in Europe, the Middle East, and Africa from a convenient time zone, and he works closely with the BVI-based litigation team to provide a seamless service to clients.
Richard has a track record of successfully representing clients before the BVI Commercial Court and the Eastern Caribbean Court of Appeal, and where appropriate negotiating favourable settlements to avoid litigation. He is ranked as a leading BVI lawyer in The Legal 500, Chambers & Partners, GRR and Who's Who Legal (Asset Recovery).
Examples of Richard's recent cases include:
- Acting for a Ukrainian businessman in BVI proceedings relating to an alleged banking fraud. Succeeded in having the claim struck out on jurisdictional grounds at first instance and on appeal, on the basis that the claimant had no standing to bring the claim and alternatively that Ukraine, and not BVI, was the appropriate forum for the claim. The claim is subject to an appeal to the Privy Council which will determine (for the first time) the impact of armed conflict on questions relating to the availability of a foreign forum.
- Acting for a Cypriot company in proceedings relating to the enforcement of a judgment by way of the appointment of receivers over BVI assets indirectly owned by the judgment debtor. Successfully argued on appeal that the receivership order should be set aside, applying the principles of separate corporate personality. The appeal also concerned issues relating to the impact of sanctions on receiverships and other enforcement remedies (Arrowcrest Limited v JSC VTB Bank).
- Acting for a sovereign state in contested proceedings to enforce a number of English judgments in the BVI.
- Acting for the Federal Republic of Nigeria in BVI proceedings to recover a private jet said to have been acquired with the proceeds of a $1 billion dollar fraud.
- Acting for a Formula E racing team in BVI insolvency proceedings to recover monies owed to it by a failed crypto-currency issuer.
- Acting for the liquidators of Exential Investments Inc, which was involved in a substantial Ponzi scheme in the UAE, leaving 1000s of investors out of pocket. Obtained the first reasoned judgment from the BVI Commercial Court approving a third party funding arrangement to enable investigations and recovery proceedings
- Acting for the UK administrators of an English FCA-regulated entity pursuing losses of c. US$250 million from a BVI company, successfully appointing liquidators in the BVI and advising on recovery strategies.
- Successfully applying to set aside an injunction obtained by a Middle-Eastern bank against a BVI company, and resisting the bank's subsequent appeal.
- Acting for a private equity house in BVI proceedings relating to a dispute over its contractual entitlement to a share of substantial distributions paid by a company in which it had invested. Following a three week Commercial Court trial, the Court entered judgment in favour of the client and made a substantial damages award in its favour.
Areas of Practice
- Banking and Finance Litigation
- Commercial Litigation
- Corporate Disputes
- Dispute Resolution and Litigation
- Fraud and Asset Tracing
- Restructuring and Insolvency
- Trust Litigation
- Trusts and Private Wealth
Professional Career
Richard started his career with Hogan Lovells in London, where he practised for eight years prior to moving to the BVI in 2013. Richard gained his higher rights of audience in the English Courts in 2010 and was admitted as a solicitor advocate in the BVI in 2013. Between 2015 and 2017, Richard worked for Carey Olsen in Jersey. Richard was admitted as a registered associate of the Bermuda bar in 2023.
He is a member of R3, INSOL and the Commercial Fraud Lawyers' Association.
Recent Experience- British Virgin Islands Litigation Guide 2023 (Chambers)
- Carey Olsen attending INSOL International and ABI Seminar in Dubai
- Carey Olsen sponsors Asset Recovery International Dublin
- British Virgin Islands Restructuring & Insolvency chapter 2023 (Lexology/GTDT)
- Carey Olsen ranked in GRR 100 for global restructuring and insolvency expertise
- Carey Olsen sponsors INSOL Channel Islands seminar 2023
- 20 lawyers from Carey Olsen's Bermuda, BVI and Cayman Islands offices ranked in Chambers Global 2023
- Fraud, Asset Tracing & Recovery 2023 - British Virgin Islands (Commercial Dispute Resolution, CDR)
- BVI company law: Eastern Caribbean Court of Appeal provides further clarity on the application of the Duomatic principle
- Carey Olsen attending FIRE International 2023
- Five chapters authored for Commercial Dispute Resolution (CDR) Fraud Asset Tracing and Recovery 2023
- 'A Comparative Look at Pre-Packs in Selected Jurisdictions' - BVI
- 'A Comparative Look at Pre-Packs in Selected Jurisdictions' - BVI, Cayman Islands, Guernsey and Jersey
- BVI litigation briefing: Significant changes to court rules governing service out of the jurisdiction come into effect from 31 July 2023
- Statutory demands in the BVI - Court of Appeal issues guidance on whether a dispute is "genuine and substantial"
- Carey Olsen sponsors the 6th annual Asset Recovery International Dublin
- Carey Olsen sponsors AFSIC Investing in Africa 2023
- Carey Olsen sponsors INSOL Riyadh seminar 2024
- 22 Carey Olsen lawyers recognised in 2024 edition of The Legal 500 Caribbean
- British Virgin Islands Litigation Guide 2024 (Chambers)
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