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Richard Snowden QC

Personal

Date of Birth: 22 March 1962
Nationality: British
Married, two children

Education

• M.A. (Downing College, Cambridge) 1st Class
• Gottlieb Prize in Part 1B Law Tripos (1982) for top student in University
• LL.M. (Harvard Law School)
• Choate Memorial Fellow, Harvard University, 1984-1985
• Denning Scholar of Lincoln’s Inn, 1985
• Called to the Bar, June 1986
• Supervisor in Company Law, Downing College, Cambridge, 1986-1989
• Appointed Junior Counsel to the Crown (A Panel) 1999
• Appointed member of the Insolvency Rules Committee 2002
• Appointed Queen's Counsel 2003
• Appointed a Recorder of the Crown Court 2006

Description of Practice

Company law and commercial litigation; corporate insolvency; financial services. Currently, about 75% of cases are contentious matters, with the remainder being noncontentious advisory work.

Recent contentious matters in the company, commercial and financial services fields include litigation arising out of breach of directors’ duties, shareholder disputes, disputes arising from take-overs and acquisitions, contested reductions of capital and schemes of arrangement, litigation in the Commercial Court over bank charges for unauthorized overdrafts, disputes in the UK and abroad concerning split capital trusts and investment funds, and international arbitrations under the UNCITRAL rules in London in relation to investment finance agreements in the Czech Republic and under the ICC rules in Paris in relation to a joint venture in the semi-conductor industry.

In the field of corporate insolvency and restructuring, recent contentious matters include litigation arising out of a number of major international insolvencies, disputes relating to priorities, contested schemes of arrangements, litigation concerning the priority of liquidation expenses and the enforcement of security, proprietary claims to assets held by insolvent companies, and litigation in Hong Kong concerning the enforcement of bank security, knowing receipt and dishonest assistance.

Notable cases include acting for the successful employees in Paramount Airways (Powdrill v. Watson); for Morgan Stanley in substantial litigation relating to Maxwell; for the bondholders in the hearings to approve the sale of Barings to ING; for Lloyds of London in litigation in Bermuda relating to the insolvency of EMLICO; for the Luxembourg liquidators of BCCI in litigation in England relating to the transmission of funds from England to the Luxembourg liquidators, and for the English liquidators of BCCI in a challenge to their settlement of claims; for the Financial Services Authority in relation to Equitable Life following the decision of the House of Lords; for the company in the restructuring of Garuda (the Indonesian airline); for the liquidators of Railtrack Group plc in relation to distributions to members; for the company and subsequently for the administrators of the TXU group including litigation relating to pension liabilities; for the liquidators of Leyland Daf Ltd in Buchler v. Talbot concerning the liquidation expenses; for the companies in the closure schemes for KWELM and Bermuda Fire and Marine Insurance Company; for the company in the restructuring of Telewest plc; for AIG in SSSL Realisations concerning contractual subordination and disclaimer; for the administrators of the T & N group in relation to the restructuring of Federal-Mogul; for the successful defendants in the leading directors’ duties case of Ultraframe v. Fielding; for the liquidators of the Univest companies in litigation in the Cayman Islands; for two substantial US funds in relation to Eurotunnel; for the insolvent companies in relation to the closing schemes for Sovereign Marine & General Insurance Company and the WFUM pool, for financial creditors in relation to the administration of Metronet, for HSBC in the Commercial Court in relation to bank charges, and for KBank of Thailand in relation to the insolvency of Akai Holdings in Hong Kong. Non-contentious work in the company area has included advice concerning the bid for Canary Wharf plc, on corporate reconstructions and financial assistance, on equity issues and the acquisition of own shares, and on the terms and impact of shareholder agreements. Advice has also been given to a number of leading sports clubs and associations on constitutional and commercial issues.

In the financial services area, notable work has included acting for the Financial Services Authority on issues relating to the regulation of insurance companies (including Equitable Life after the decision of the House of Lords), for an asset management group under investigation in relation to split capital trusts, and for HSBC in relation to bank charges.

Publications

• Joint Editor, Lightman & Moss, The Law of Administrators and Receivers of Companies, Sweet & Maxwell (4^th ed., 2007)
• Joint Editor, Company Directors: Law and Liability (Sweet & Maxwell, looseleaf).

Professional Organisations

The Chancery Bar Association, The Commercial Bar Association (member of the Executive Committee) and The Insolvency Lawyers Association.

Interests

Rugby, cricket, golf, music, photography.

Case List

• Sovereign Marine & General Insurance Co. Ltd
  Ref: [2007] 1 BCLC 228
• Re T&N Limited
  Ref: [2006] 1 WLR 1728
• Re T&N Limited (no.2)
  Ref: [2006] 1 WLR 1792
• Re T&N Limited (No.3)
  Ref: [2006] 1 WLR 2831
• Re Baumler (UK) Limited
  Ref: [2005] 1BCLC 92
• Re SSSL Realisations (2002) Ltd, Squires v. AIG
  Ref: [2005] 1 BCLC 1, [2007] 1 BCLC 29 (CA)
• Ultraframe v. Fielding
  Ref: [2005] EWHC 1638, [2006] EWCA Civ 1133, [2006] Civ 1660
• Re T&N Limited
  Ref: [2005] 2 BCLC 488
• Re Telewest Communications plc
  Ref: [2004] BCC 342,[2005] BCC29 (CA), [2005] BCC 36
• igroup v.Ocwen
  Ref: [2004] 2 BCLC 61
• Re TXU Europe Group plc
  Ref: [2004] 1 BCLC 519
• Re T & N Limited
  Ref: [2004] EWHC 2361 (Ch)
• Re Coats plc
  Ref: [2003] EWHC 2471 (Ch)
• Re Demaglass Limited
  Ref: [2003] 1 BCLC 412
• Re TransTec Automotive (Campsie) Limited
  Ref: [2001] 1 BCC 403
• Re Anglo American Insurance Limited
  Ref: [2001] 1 BCLC 755
• Re Leyland Daf Limited
  Ref: [2001] 1 BCLC 419, [2002] 1 BCLC 571, [2004] 2 AC 298 (HL)
• Re Garuda Indonesia
  Ref: [2001] EWCA Civ 1696
• Arrow Nominees Inc. v. Blackledge
  Ref: [2000] 1 BCLC 709, [2000] 2 BCLC 167 (CA)
• Mohamed v. Morris
  Ref: [2000] 2 BCLC 536
• Re Osiris Insurance Limited
  Ref: [1999] 1 BCLC 182
• Re Ransomes Plc
  Ref: [1999] 1 BCLC 775
• Re Equity Nominees Limited
  Ref: [1999] 2 BCLC 19
• Re Astec (BSR) plc
  Ref: [1998] 2 BCLC 556
• ex parte Austintel Limited
  Ref: [1997] 1 WLR 616 (CA)
• Re Copeland & Craddock Ltd
  Ref: [1997] BCC 294
• Re a Company (No. 004415 of 1996)
  Ref: [1997] 1 BCLC 479
• Re Telesure Ltd
  Ref: [1997] BCC 580
• Re Dominion International Group plc (No. 2)
  Ref: [1996] 1 BCLC 572
• Re BCCI SA (No. 10)
  Ref: [1996] 4 ALL ER 796, [1997] 2 WLR 172
• Paramount Airways Ltd
  Ref: [1993] BCC 662, [1994] 2 All ER 513 (CA), [1995] 2 AC 394 (HL)
• Re Dominion International Group plc
  Ref: [1995] 1 BCLC 570
• Re Barings Bank plc
  Ref: (Scott V-C, Times 7 March 1995)
• Re ILG plc
  Ref: [1995] 2 BCLC 128
• Re Heron International NV
  Ref: [1994] 1 BCLC 667
• Supreme Travels v. Little Olympian
  Ref: [1994] BCC 947
• Re Comet Enterprises Ltd
  Ref: [1994] BCC 883
• Re Olympia & York Canary Wharf Ltd
  Ref: [1993] BCC 154
• Liquidators of First Tokyo Investment Trust v. Morgan Stanley
  Ref: (Times, 1 December 1993)
• Law Debenture Trust Corporation v. Ural Caspian
  Ref: [1993] 1 WLR 138, [1995] Ch 152 (CA)
• Re Marwalt Ltd
  Ref: [1992] BCC 32
• Exchange Travel Agency v. Triton Property Management
  Ref: [1991] BCC 341
• Re Hydrosan Ltd
  Ref: [1991] BCC 19
• Sun Alliance v. RJL
  Ref: [1991] 2 Lloyds Rep. 410
• Re Record Tennis Centres Ltd
  Ref: [1991] BCC 509
• Re Hewitt Brannan (Tools) Co. Ltd
  Ref: [1990] BCC 354
• Re Imperial Motors (UK) Ltd
  Ref: [1989] 5 BCC 214
• Re Piccadilly Radio Plc
  Ref: [1989] 5 BCC 692

• Re Imperial Motors (UK) Ltd
  Ref: [1989] 5 BCC 214
• Re Piccadilly Radio plc
  Ref: [1989] 5 BCC 692
• Re Hewitt Brannan (Tools) Co. Ltd
  Ref: [1990] BCC 354
• Exchange Travel Agency v. Triton Property Management
  Ref: [1991] BCC 341
• Re Hydrosan Ltd
  Ref: [1991] BCC 19
• Re Record Tennis Centres Ltd
  Ref: [1991] BCC 509
• Sun Alliance v. RJL
  Ref: [1991] 2 Lloyds Rep. 410
• Re Marwalt Ltd
  Ref: [1992] BCC 32
• Re Olympia & York Canary Wharf Ltd
  Ref: [1993] BCC 154
• Liquidators of First Tokyo Investment Trust v. Morgan Stanley
  Ref: (Times, 1 December 1993)
• Paramount Airways Ltd [1993] BCC 662, [1994] 2 All ER 513 (CA)
  Ref: [1995] 2 AC 394 (HL)
• Re Heron International NV
  Ref: [1994] 1 BCLC 667
• Law Debenture Trust Corporation v. Ural Caspian
  Ref: [1993] 1 WLR 138, [1995] Ch 152 (CA)
• Supreme Travels v. Little Olympian
  Ref: [1994] BCC 947
• Re Comet Enterprises Ltd
  Ref: [1994] BCC 883
• Re Dominion International Group plc
  Ref: [1995] 1 BCLC 570
• Re Barings Bank plc
  Ref: (Scott V-C, Times 7 March 1995)
• Re ILG plc
  Ref: [1995] 2 BCLC 128
• Re Dominion International Group plc (No. 2)
  Ref: [1996] 1 BCLC 572
• Re BCCI SA (No. 10)
  Ref: [1996] 4 All ER 796, [1997] 2 WLR 172
• ex parte Austintel Limited
  Ref: [1997] 1 WLR 616 (CA)
• Re Copeland & Craddock Ltd
  Ref: [1997] BCC 294
• Re a Company (No. 004415 of 1996)
  Ref: [1997] 1 BCLC 479
• Re Telesure Ltd
  Ref: [1997] BCC 580
• Re Astec (BSR) plc
  Ref: [1998] 2 BCLC 556
• Re Osiris Insurance Limited
  Ref: [1999] 1 BCLC 182
• Re Ransomes plc
  Ref: [1999] 1 BCLC 775
• Re Equity Nominees Limited
  Ref: [1999] 2 BCLC 19
• Arrow Nominees Inc. v. Blackledge
  Ref: [2000] 1 BCLC 709, [2000] 2 BCLC 167 (CA)
• Mahomed v. Morris
  Ref: [2000] 2 BCLC 536
• Re TransTec Automotive (Campsie) Limited
  Ref: [2001] 1 BCC 403
• Re Anglo American Insurance Limited
  Ref: [2001] 1 BCLC 755
• Re Leyland Daf Limited
  Ref: [2001] 1 BCLC 419, [2002] 1 BCLC 571, [2004] 2 AC 298 (HL)
• Re Garuda Indonesia
  Ref: [2001] EWCA Civ 1696
• Re Demaglass Limited
  Ref: [2003] 1 BCLC 412
• Re Coats plc
  Ref: [2003] EWHC 2471 (Ch)
• igroup v. Ocwen
  Ref: [2004] 2 BCLC 61
• Re TXU Europe Group plc
  Ref: [2004] 1 BCLC 519
• Re Telewest Communications plc
  Ref: [2004] BCC 342, [2005] BCC 29 (CA), [2005] BCC 36
• Re Baumler (UK) Limited
  Ref: [2005] 1 BCLC 92
• Re SSSL Realisations (2002) Ltd, Squires v. AIG
  Ref: [2005] 1 BCLC 1, [2007] 1 BCLC 29 (CA)
• Ultraframe v. Fielding
  Ref: [2005] EWHC 1638, [2006] EWCA Civ 1133, [2006] Civ 1660
• Re T&N Limited
  Ref: [2005] 2 BCLC 488
• Re T&N Limited
  Ref: [2006] 1 WLR 1728
• Re T&N Limited (No.2)
  Ref: [2006] 1 WLR 1792
• Re T&N Limited (No.3)
  Ref: [2006] 1 WLR 2831
• Sovereign Marine & General Insurance Co. Ltd [2007]
  Ref: 1 BCLC 228