Case: Macmillan Inc v Bishopsgate Investment Trust plc [1995] EWCA Civ 55

Akers & ors v Samba [2017] UKSC 6

Mr Al-Sanea was the legal owner of shares in five Saudi Arabian banks, including Samba Financial Group (appellant). As a result of six transactions between 2002 and 2008 Mr Al-Sanea agreed to hold the relevant shares in trust for Saad Investments Co Ltd (SICL), a company subject to the laws of the Cayman Islands. Compulsory winding up proceedings of SICL commenced on 30 June 2009 and, six weeks later, Mr Al-Sanea in breach of trust transferred the legal title to the relevant shares to the appellant, purporting thereby to discharge personal liabilities which he had towards it. On 19 Augus...

Credit Agricole v Papadimitriou [2015] UKPC 13

In 2000 Mr Robin Symes, an art dealer, sold for US$15m a collection of art deco furniture belonging to the respondent. The respondent did not give her consent to the sale, and Mr Symes had no right to sell the collection. US$10.4m of the sale price was paid to a Panamanian company, Tradesk Limited. Of this, US$10.3m was then paid into an account at the appellant bank through a Liechtenstein foundation called Pataco Foundation. The monies were deposited in the Gibraltar branch of the appellant and credited to the account of Lombardi Corporation, which was a British Virgin Islands company ...

Akers & ors v Samba Financial Group [2014] EWCA Civ 1516

The claimants appealed a decision to stay their claim on the ground of forum non conveniens.

The fourth claimant (C4) was a Cayman company and was massively insolvent, owing US$2.815bn plus interest to a syndicate of banks including the defendant (D). The first (C1), second (C2) and third claimant (C3) were the liquidators of C4. A winding up petition was presented to the Grand Court of the Cayman Islands on 30 July 2009, commencing the winding up of C4. On 18 September 2009, the winding up order was made.

The claim was brought by C1, C2 and C3 pursuant to s127 of the I...