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Philip Kolvin

Paul Marshall

Called
1991
Telephone
0207 242 4986
Clerk
Sam Collins
CV
Email

Paul has a broadly-based international and domestic business law practice that includes contentious and non-contentious commercial and corporate work.

Paul has a broadly-based international and domestic business law practice that includes contentious and non-contentious commercial and corporate work. Recent entries in the directories have described him as a "tough opponent" and "unflappable", and judges and opponents alike have commented on his skilful cross-examination.

His recent work has ranged from financial mis-selling claims against regulated entities (typically banks) (SCARPs and interest rate derivatives), competition law relating to industry cartels, commercial fraud, shareholder remedies and company share valuations (breach of mandate). From the introduction of the POCA 2002 he has been known for his work on the AML legislation, particularly its problematic application to international transactions in connection with which he has acted for banks, law firms and individuals. Paul has given evidence on English contract law as an expert witness in proceedings in Canada and in Italy.

He writes regularly for the legal professional publications and is an editor of Atkin's Court Forms and on the Editorial board of Butterworths Corporate Law Service.

Paul has a particular interest in legal problems that arise at the interface between financial regulation and the common law.

Recent decisions:
Purrunsing v A'Court and Anr [2016] EWHC 789(Ch), [2016] 4 WLR 16. A landmark decision in which conveyancers on both sides of a transaction were held liable for breach of trust under a Dubai-based identity fraud and refused relief under the Trustee Act 1925. While both defendants acted honestly they were unable to satisfy the stringent jurisdictional requirements of s. 61 TA 1925. Relief was refused to the vendor's solicitors for failure to comply with their statutory AML obligations.

Swain v Swain plc and Ors. [2015] EWHC 660 (Ch). Paul acted for the claimants in successful claims for conspiracy to alter shareholder rights (by special resolution held to be void) in which an accountant participated, breach of valuation mandate. Damages for conspiracy and award of compensation for breach of mandate. Part of the judge's approach to share valuation was subject of an appeal to the Court of Appeal that was settled following permission to appeal being given by the Court of Appeal.

Hone and Ors. v HMRC and Anr. [2014] EWCA Civ 711, [2015] 1 Ch 309, [2014] 3 WLR 1676. With Philip Coppel Q.C. (see Chambers' Profile) instructed by Banks Kelly on the successful appeal from [2013] 1 Ch 455. Now the leading decision on (i) the correct approach to the assessment of damages on an inquiry on a cross-undertaking given on an injunction that turns out to have been wrongly granted, and (ii) the way in which an injunctor may reasonably be expected to behave in enforcing the injunction.

A successful outcome for the client is more often settlement on satisfactory terms without the need for a decision by the court when both sides' legal advisors can evaluate potential outcomes reasonably clearly. While of their very nature confidential, Paul has recently acted in claims where high value settlements have been achieved for clients in relation to litigation involving: negligence breach of trust/fiduciary duty in relation to lengthy and disastrous litigation; the mis-selling of financial products to part of a major hotel group and several claims for mis-selling of interest rate derivatives to property investment companies; the recovery of private aircraft, and claims for breaches of commercial aircraft leasing agreements.

Paul's advisory work has recently included advising a major UK brand on competition issues relating to pricing and advising companies on horizontal (collusion) and vertical (dominance) issues relating to an industry cartel.

For many years Paul has been ranked as a leading barrister (Commercial Dispute Resolution) by Chambers & Partners and a leading barrister (Commercial Litigation) in the Legal 500. Comments have included:

"He really goes above and beyond..." Chambers & Partners 2016
"Praised for his strong analysis." Legal 500 2015
"He's a very thorough, dogged and determined lawyer who is both inventive and courageous." "He's very conscientious, his attention to detail is excellent, and he thinks outside the box." Chambers & Partners 2015
"A tough opponent in a difficult case" Chambers & Partners 2014

Paul came to the Bar following a career as an Army officer. He read politics at the LSE and law at Magdalene College, Cambridge. He is a member of the Inner Temple and the Chartered Institute of Arbitrators.

For many years Paul has been ranked as a leading barrister (Commercial Dispute Resolution) by Chambers & Partners and a leading barrister (Commercial Litigation) in the Legal 500. Comments have included:

"Highly capable and very good with clients." "He brings very good independent legal analysis, backed up with an evident willingness to understand every aspect of the client's situation." Chambers & Partners 2018 

"A very bright and hardworking barrister with a good client manner." - Legal 500 2017

"A strong advocate and a very good lawyer." Legal 500 2016

"Capable and good with clients." Chambers & Partners 2017

"He really goes above and beyond..." Chambers & Partners 2016

"Praised for his strong analysis." Legal 500 2015

"He's a very thorough, dogged and determined lawyer who is both inventive and courageous." "He's very conscientious, his attention to detail is excellent, and he thinks outside the box." Chambers & Partners 2015

"A tough opponent in a difficult case" Chambers & Partners 2014

Overview

Domestic and international business law, financial regulatory law, banking, commercial fraud including money laundering and company law.

The majority of Paul's work is in the High Court of Justice, usually in the Chancery Division, and in the Court of Appeal.

Expertise:
• Financial regulatory law and banking including mis-selling by regulated persons of financial products.
• Commercial licensing and leasing, including aircraft.
• International and domestic sales and carriage of goods.
• Economic torts (such as conspiracy), domestic and international commercial fraud and money laundering.
• Equitable doctrines and remedies including commercial secrets and confidentiality/ injunctions.
• EU and domestic competition law.
• Company law including shareholder rights and remedies, directors' duties and corporate governance.
• Related aspects of professional negligence.
• Public procurement.

News

Selling-out on interest rate derivatives
28.09.2017
Travels in unreality: Hard cases for SMEs and the making of English Financial Law October 2017 feature article in Butterworths Journal of International Banking and Financial Law by Paul Marshall In this....

Trust and Estates Law & Tax Journal - Consequences of non-compliance
16.11.2016
Paul Marshall has authored an article for Trust and Estates Law & Tax Journal in which he considers the case of Purrunsing v A'Court & Co and House Owners Conveyancing (2016).....

Paul Marshall joins Cornerstone Barristers
07.09.2016
Cornerstone Barristers is pleased to announce that Paul Marshall has joined Chambers from September 2016. Paul has a highly regarded practice in domestic and international business law, and in company law....

Disclosure of risk in SME swap transactions: the Court of Appeal wreaks havoc with accepted principles

10th May 2018

Disclosure of risk in SME swap transactions: the Court of Appeal wreaks havoc with accepted principles, Butterworths Journal of International Banking and Financial Law (LexisNexis) (2018) 5 JIBFL 282.

In this article, Paul considers the approach of the Court of Appeal in Property Alliance Group Limited v The Royal Bank of Scotland to the mis-selling claims made by PAG and the court's rejection of a duty of care owed by RBS.

Atkin's Encyclopaedia Of Court Forms in Civil Proceedings

1st April 2018

Paul has edited the chapter on 'Equitable Remedies', in Atkin's Encyclopaedia Of Court Forms in Civil Proceedings 18(1), (2nd edn, Lexis Nexis, 2018). 

Travels in unreality: hard cases for SMEs and the making of English financial law

1st October 2017

Travels in unreality: hard cases for SMEs and the making of English financial law, Butterworths Journal of International Banking and Financial Law (LexisNexis) (2017) 9 JIBFL 540.

In this article, Paul analyses the present unsatisfactory state of English law on swaps mis-selling.

Trust and Estates Law & Tax Journal - Consequences of non-compliance

16th November 2016

Paul Marshall has authored an article for Trust and Estates Law & Tax Journal in which he considers the case of Purrunsing v A'Court & Co and House Owners Conveyancing (2016). The case concerns relief from liability for breach of trust under the Trustee Act 1925.

Paul who acted for the claimant in the case notes that the decision represents an interesting, and salutary, instance of the interaction between regulatory law and the law of trusts.

Butterworths Corporate Law Service

1st September 2016

Member of the Editorial Board

Butterworths Atkin's Court Forms - Equitable Remedies

1st September 2016

[Forthcoming] Butterworths Atkin's Court Forms 'Equitable Remedies' (Editor).

Paul is editor of the current edition (Volume 18(1)).

Butterworths Journal of International Banking and Financial Law

1st September 2016

Paul regularly writes for the press and the legal journals including the Financial Times, Lloyd's Maritime and Commercial Law Quarterly, the Company Lawyer. He is regularly invited to contribute to Butterworths Journal of International Banking and Financial Law (JIBFL). Recent articles include:

• Fault Lines in English Financial Law, Thornbridge Limited v Barclays Bank plc [2015] EWHC 3430, [2016] 5 JIBFL 266.
• 'Humpty Dumpty is broken: unsuitable and inappropriate swaps transactions' [2014] 11 JIBFL 679 (Crestsign v Natwest and RBS [2014] EWHC (Ch) 3043).
• 'Novating mis-sold swaps: the poverty of narrowly contractual analysis' [2015] 1 JIBFL 11 (Bailey and Anr. v Barclays Bank plc [2014] EWHC 2882).
• Interest rate swaps and the sale of the unknown (Green and Rowley v RBS [2013] EWCA Civ 1197).

A Practitioner's Guide to UK Money Laundering Law and Regulation

4th December 2015

(Sweet & Maxwell 3rd Ed 2015)
(Editor Ben Kingsley, Slaughter and May) Paul contributed the chapters on Civil Liability and the Application of AML Legislation to International Transactions.

Butterworths Atkin's Court Forms - Sale and Supply of Goods and Services

1st May 2010

(2010)
Volume 35, Editor.

Paul is author of the Chancery Bar Association Guidance on money laundering – guidance that was recommended by the Bar Council until it issued its own guidance in 2016.

In November 2016, he is speaking at the Professional Negligence Lawyers' Association annual conference on the Purrunsing decision. In 2016 he spoke on money laundering and corporate transparency at the Midlands Annual Fraud Forum. In 2015 he spoke at a joint seminar of the International Committee of the Bar Council with the Deutscher Anwaltwerein with its Arbeitsgemeinschaft Bank-und Kapitalmarktrecht on regulatory approaches to financial mis-selling in England and Germany. He regularly takes part in training seminars/webinars for solicitors.

• Commercial Bar Association (COMBAR)
• Chancery Bar Association (ChBA)
• International Bar Association (IBA)
• Member of the Chartered Institute of Arbitrators (MCIArb.)

News

Selling-out on interest rate derivatives

28th September 2017

Travels in unreality: Hard cases for SMEs and the making of English Financial Law October 2017 feature article in Butterworths Journal of International Banking and Financial Law by Paul Marshall In this....

News

Trust and Estates Law & Tax Journal - Consequences of non-compliance

16th November 2016

Paul Marshall has authored an article for Trust and Estates Law & Tax Journal in which he considers the case of Purrunsing v A'Court & Co and House Owners Conveyancing (2016).....

News

Paul Marshall joins Cornerstone Barristers

7th September 2016

Cornerstone Barristers is pleased to announce that Paul Marshall has joined Chambers from September 2016. Paul has a highly regarded practice in domestic and international business law, and in company law....