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Anne McCarthy

Fax +44.(0)20.7648.9001

Anne McCarthy is a partner in the Commercial Litigation practice group and is recommended by The Legal 500 for Dispute Resolution in both the Pensions and Banking practice areas. Her practice is primarily focused on city and institutional work, although she acts for several high net-worth individuals.

Her banking and insolvency work includes security disputes, recovery and tracing of assets, fraud claims, disputes over letters of credit, guarantee disputes, derivative products and general financial services disputes.

Anne also has a substantial negligence practice and has acted on some high profile claims both for and against professionals on a range of issues. These include valuation negligence claims against surveyors, claims against solicitors in connection with failure to take effective security and claims both for and against professionals in the pensions sector.

Clients include several foreign and secondary banks, offshore hedge funds, pension funds, trustees, insolvency professionals and foreign investment companies.

Professional Background

Ms. McCarthy became a partner at the firm in 1993, having qualified as a lawyer in September 1983 at an international law firm. She is a Solicitor Advocate, and a qualified mediator having mediated on professional negligence claims and regularly acts for clients involved in mediations.

Ms. McCarthy regularly lectures on alternative funding methods and after the event insurance and produces much of the firms UK materials on these topics.

Professional/Civic Activities

  • Association of Pensions Lawyers
  • London Solicitors Litigation Association (Member)
  • CEDR (Trained Mediator)
  • Honorary Solicitor Wasps Rugby Football Club, a Community Amateur Sports Club (CASC).
  • City of London Solicitors Company (member)

Speaking Engagements

  • Banking & financial services litigation Summer School (Ark group) 2009
  • Banking & Professional Negligence (Bankers City Luncheon) 2010
  • Pensions after the Credit Crunch (In conjunction with the PPF) 2009
  • Pension Trustees and Dispute resolution (Pensions Chair & London Chamber of Commerce) 2009
  • Valuation negligence (Finance & Banking Seminar K&L Gates) 2011
  • Alternative Litigation Funding Solutions (Property & Finance Group) 2011
Professional Negligence Claims RE Banking, Property & Pension Trusts
  • Acting for Wasps Rugby Club on the negligent under-valuation of their ground at Sudbury and the on-sale to Loftus Road Plc. Trustees of WASPS Football Club v Lambert Smith Hampton Group Ltd and another [2004] EWHC 938.
  • Successfully defending Mercer Human Resource Consulting on a claim by the purchasers of Stoves Plc in respect of errors in an Actuarial Valuation Report. Precis (521) plc v William M Mercer Limited [2005] EWCA Civ 114.
  • Defending a claim for negligent Financial Services advice, which is now a seminal reported case on limitation issues. (Shore -v-Sedgwick Financial Services Limited [2008] EWCA Civ 863).
  • Defending a firm of consultants against a claim from the trustees of a large pension scheme for alleged negligence on the drafting of scheme documentation.
  • Acting for a bank on a substantial claim against surveyors in respect of the negligent valuation of an industrial estate in the Midlands.
  • Acting for developers against planning consultants on the failure to obtain planning permission for a major development scheme on a Brownfield/waterfront site.
  • Prosecuting a claim against solicitors on the negligent drafting of a sale contract which caused the collapse of a major property development in the South East.
  • Acting against valuers on a substantial negligence action involving a residual valuation on a Docklands property for a major bank.
  • Acting for the Liquidators of Mirror Group newspapers ton the investigation the negligent/fraudulent creation of leases to secure liabilities of the Group.
  • Acting on behalf of Barclays Bank in the seminal House of Lords decision involving a series of cases on undue influence generally referred to as "RBS v Etridge".
  • Acting for Credit Agricole on its dispute concerning the scheme of arrangement for Telewest.
  • Acting on behalf of a substantial Eastern European commercial client against a major UK bank in seeking clarification of a banker's duty not to compete with its customers and prosecuting a claim in excess of £100 million.
  • Acting on behalf of the Liquidators of a foreign Bank on a dispute against a merchant bank on accounts frozen by U.S. authorities.
  • Advising the UK Property Fund of a major European Bank on negligence claims in relation to the drafting of security documentation.
  • Assisting a Finance House to resolve a dispute arising on a development site where an adjoining developer claimed a percentage of profits.
  • Advising a bank on security issues relating to a large industrial estate subsequent to the insolvency of the customer.
  • Advising a foreign bank on a dispute with a major media company over swap contracts under a Master ISDA Agreement.
  • Successfully defending a major UK bank against a claim by its customer that a Receiver was unlawfully appointed.
  • Acting on behalf of the Luxembourg Liquidator of BCCI on the Bingham Inquiry as to the collapse of the bank.
Fraud / Insolvency
  • Acting for the Receivers of the Axiom Legal Financing Fund, a Cayman SPC, on a £110 million fraud claim against seventeen defendants, involving:
    • a Worldwide Freezing Order enforced in the Marshall Islands, Switzerland, France, Canada, Isle of Man and the UK;
    • a ‘Chabra’ Order against third parties;
    • obtaining an order under the Cross Border Insolvency Regulations to procure the powers of a UK Liquidator;
    • making recoveries from twelve law firms who had borrowed from the Axiom Fund;
    • dealing with UK Regulatory Authorities.
  • Acting for Guarantors on a claim by foreign banks concerning liabilities caused by a commodities (coffee) fraud in Kenya.
  • Acting on behalf of Liquidators against solicitors on the negligent handling of a fraud claim against an offshore management company.
  • Acting for a major bank on the tracing of assets in relation to a fraud/mistaken payments claim.