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Mark Phillips

Mark Phillips

Consultant Barrister
1991

Legal 500

"A refreshingly imaginative thinker”, “Very thorough and diligent, he really gets to grips with challenging technical points” and “The perfect balance between law and commerce, and so hands-on."

Chambers & Partners UK 2015

"The barristers at 3 Verulam Buildings lead the way in appearing in high-profile banking and finance cases."

 

About

Mark is a Consultant Barrister in the Commercial & Regulatory Disputes team and joins Michelmores following 28 years with leading commercial Chambers, 3 Verulam Buildings in London. 

With a specialism in complex domestic and international disputes in the banking and finance sector, Mark's experience extends to civil fraud, injunctions, enforcement and insolvency, as well as broader commercial disputes, insurance coverage and professional indemnity.

He also advises on matters of financial regulation, and has appeared for both prosecution and defence before regulatory tribunals. Dealing regularly with money laundering issues, Mark advises on the law relating to the proceeds of crime and has advised upon the implications of international economic sanctions.

He has extensive experience of litigation in multiple jurisdictions, including India, Singapore, Hong Kong, France, Jersey, Guernsey, the Isle of Man and the British Virgin Islands, and has been called to the BVI Bar.

Mark has edited or contributed to a number of leading textbooks and journals, including co-editing Byles on Bills of Exchange and Cheques (27th to 30th editions), where his views have been cited with approval by the Court of Appeal of New Zealand.  For some years he has authored parts of Bullen Leake and Jacob's Precedents of Pleadings (Bills of Exchange, Cheques and Promissory Notes). He edits two chapters of Paget on Banking (security) and has contributed a chapter on lending structures to Banking Litigation, as well as writing for the Journal of International Banking and Finance Law.

Mark lives in Dorset where he balances legal practice with a passion for the outdoors.

Recent Experience

Banking & finance: contentious

  • International enforcement – representing the Taiwanese ministry of defence resisting the enforcement in England of a judgment obtained in the Cayman Islands based on a judgment in default from Singapore. Strategic Technologies PTE Ltd v Procurement Bureau of the Republic of China Ministry of National Defence [2020] EWHC 362 (QB), [2020] All ER (D) 12 (Mar).
  • Custodianship, proceeds of crime, foreign law – representing an offshore part of a major banking group in relation to its rights to retain security over sums the subject of international criminal confiscation proceedings against contingent liability arising under other foreign proceedings.
  • Restructuring, European Insolvency – representing bondholders in a highly contested restructuring of a manufacturing group.  Insolvency Regulation, disputed COMI, proceedings in England, Luxembourg Germany and New York, intercreditor agreement and New York bond indentures.

Banking & finance: non-contentious

  • Project Finance - advising in relation to a finance structure for payments to be made for an infrastructure project in South Asia, particular issues relating to sovereign nature of guarantees, export credit support and security.
  • Bank administration - advised the beneficiary of a financial guarantee provided by a bank going into administration.
  • Bank merger - advised on the implications for various syndicated loan agreements of the creation by merger of a new European Company under Council Regulation (EC) No 2157/2001 and corresponding principles of universal succession.

Civil fraud

  • Solar industry - representing the Defendant in proceedings commenced by Chinese based company alleging financial irregularities based upon the non-existence of $500m of government bonds. Multi- jurisdiction litigation (including London, Singapore, Luxembourg).
  • Bribery/equities traders - advising and representation of a hedge fund in a claim against its former broker arising from alleged bribery of a member of the funds management.
  • Advice and representation of an IT company in relation to employee fraud and bribery by third parties.

Professional negligence

  • Claims against financial advisers for losses of several million pounds arising from advice to invest in offshore property funds.
  • Proceedings against insurers of financial advisers (in administration); policy and coverage issues.
  • Sprecher Grier Halberstam v Martin Walsh [2008] EWCA 1324, striking out claims framed in deceit against solicitors involved in freezing injunction proceedings.