Stephen Atherton QC

Contact details:

3-4 South Square, Gray’s Inn, London WC1R 5HP.

Telephone +44 (0)20 7696 9900. Fax +44 (0)20 7696 9911. LDE 338 (Chancery Lane).
Email clerks@southsquare.com. Web www.southsquare.com.

Education:

LLB (Hons) (Lancaster), LLM (Cantab) (First Class).

Scholarships and awards:

Magdalene College Cambridge: Bundy Law Scholar; Norah Dias Prize for Law.

Middle Temple: Harmsworth Entrance Exhibitioner; Astbury Scholar.

Professional career:

October 2006 Appointed Queen’s Counsel

July 1989 Called to the Bar (Middle Temple);

July - Oct 1989 The Fraud Investigation Group, Crown Prosecution Service.

Areas of practice:

Civil aspects of commercial fraud, corporate insolvency and restructuring, personal insolvency, company law, banking and general commercial domestic and international litigation.

Reported and major cases:

Re Oval 1742 Limited (in Creditors’ Voluntary Liquidation) [2006] All ER (D) 57 (Nov)

“Taking possession” of property subject to a floating charge and the proper construction of Section 196 of the Companies Act 1985.

State of Brunei Darussalam v. Prince Jefri Bolkiah [2005] All ER (D) 354 (Jun)

Basis upon which a committal application may be amended.

State of Brunei Darussalam v. Prince Jefri Bolkiah [2005] All ER (D) 250 (Mar)

Enforcement of order for disclosure made pursuant to Section 25 of the Civil Jurisdiction and Judgments Act 1982.

Re Mytravel Group Plc [2005] 2 BCLC 123 (CA)

Guidance given as to the proper application of the Practice Statement applicable to schemes of arrangement under Section 425 of the Companies Act 1985.

Re Mytravel Group Plc [2005] 1 WLR 2365

The nature of a “reconstruction” under Section 427 of the Companies Act 1985.

Re Brightview Limited [2004] BCC 542

Interests of nominee and beneficial shareholders under Section 459 of the Companies Act 1985 and the inter-action between the remedies available under that section and the principle of “reflective loss”.

Re Railtrack plc (in railway administration) [2003] All ER (D) 300

Approval of the remuneration of special railway administrators by the Court.

Winsor (as Rail Regulator) v. Bloom and Ors [2002] 1 WLR 3002 (CA)

Application of Section 11 of the Insolvency Act 1986 (as modified by the Railways Act 1993) to the exercise of specific powers of the Rail Regulator.

Winsor (as Rail Regulator) v. Bloom and Ors (unreported) Morritt V-C, 5 May 2002

Jurisdiction of the Court to deal with questions of a hypothetical nature.

Humberclyde Finance Group Limited v. Hicks (unreported) Neuberger J 14 November 2001

Application of the principles laid down in Johnson v. Gore-Wood & Co [2001] 2 WLR 72 (HL).

Re Continental Assurance Company of London Plc [2001] BPIR 733

Wrongful trading and misfeasance in relation to an insurance company.

State of Brunei Darrussalam v. Bolkiah The Times, 5 September 2000

Nature of the Court’s approach when exercising its jurisdiction under Section 25 of the Civil Jurisdiction and Judgment Act 1982.

Holder v. Supperstone [2000] 1 All ER 473

Status of a charging order as an equitable charge and the ability of a person in whose favour a charging order has been granted to add the costs of enforcing such an order to the value of his security.

Re Brabon [2001] 1 BCLC 11

What constitutes a transaction by a bankrupt for the purposes of Section 339 (transactions at an undervalue) and Section 423 (transactions defrauding creditors) of the Insolvency Act 1986.

Lee v. Lee [2000] 1 FLR 92 (CA)

Ability of the Court to vest the surplus of the proceeds of sale of a lease in a trustee in bankruptcy, notwithstanding that the trustee in bankruptcy had previously disclaimed his interest in that lease.

Re: Richbell Strategic Holdings Plc [2000] 2 BCLC 794

Nature of the Court’s powers to give directions as to the conduct of a public examination prior to that examination taking place.

Re Continental Assurance Company of London Plc (In Liquidation) (No. 3) [1999]

1 BCLC 751

Valuation of insurance policies in the insolvent voluntary liquidation of an insurance company.

Re Hinckley Island Hotel Limited [1999] 1 WLR 129 (CA)

Procedure to be adopted on the hearing of an application for directions by a liquidator where that application is disputed by a creditor which is also a party to litigation brought by the company in liquidation.

Trustee of the Property of Vickery v. Modern Security Alarms Limited [1998] 2 BCLC 428 (CA)

Circumstances in which a trustee in bankruptcy will be made personally liable for the costs of proceedings in existence prior to the bankruptcy which are subsequently adopted by him, although he was not formerly joined as a party to the proceedings.

Facia Footwear Limited (In Administration) v. Hinchliffe [1998] 1 BCLC 218

Duties owed by the directors of a company when a company is insolvent or of doubtful solvency.

Re Continental Assurance Company of London Plc (In Liquidation) (No. 2) [1998]

1 BCLC 583

Procedure to be adopted in making claims against directors under the Insolvency Act 1986.

Green v. Satsangi [1998] BPIR 55

Responsibility for discharging the burden of income tax on money received by a trustee in bankruptcy and the application of the rule in Ex parte James.

Hardy v. Pallen [1997] BCC 815

Whether a loan made to a bankrupt can constitute after acquired property of a bankrupt.

MGN Pension Trustees Limited v. Bank of America National Trust and Savings Association (Serious Fraud Office Intervening) [1995] 2 All ER 355

Principles to be applied in making an Order under Section 4(2) of the Contempt of Court Act 1981.

Re SN Group plc [1993] 1 BCLC 319

Respective jurisdictions of a Judge and a Registrar of the Companies Court.

Re William Makin & Sons Limited [1993] 1 BCLC 319

Ability of a liquidator of a company to exercise a power to distribute a surplus in the company’s pension scheme.

MGN Pension Trustees Limited v. Invesco Asset Management Ltd and Others (unreported)

Principles to be applied upon a Self Regulatory Organisation asserting public interest immunity in relation to documents in its possession in defence of a subpoena seeking production of such documents.

“Eurotunnel”

Instructed on behalf of bondholders in relation to the group’s restructuring.

“CV Starr v AIG”

Instructed by the CV Starr group of companies and Maurice (“Hank”) Greenberg in multi-jurisdictional litigation against AIG.

Jarvis Plc

Instructed on behalf of the group’s major creditors in relation to the group’s restructuring.

MG Rover

Instructed on behalf of the administrators of the company.

Courts Plc

Instructed by the company’s administrators.

My Travel Plc

Instructed on behalf of the company’s bondholders.

British Energy

Instructed by the major creditors of the company in relation to the group’s restructuring.

Leeds United AFC

Instructed by the financers of proposed rescue bid.

Bradford City FC

Instructed by one of the club’s major “football creditors”.

Meridien Hotels

Instructed by the companies in relation to the group’s restructuring.

Claims Direct Plc

Instructed by the Administrative Receivers.

Regus Plc

Instructed by the company in relation to the company’s restructuring.

TXU Europe

Instructed on behalf of major creditors of the TXU group.

Tiny Computers

Instructed on behalf of the Administrators.

ntl

Instructed on behalf of the ntl companies in relation to their restructuring.

ITV Digital

Instructed on behalf of the company and the company’s Administrators.

Enron

Instructed on behalf of the Administrators of a number of the Enron companies.

Marconi Plc

Instructed on behalf of the group’s major bankers in relation to the company’s restructuring.

Energis Plc

Instructed on behalf of the company and the company’s administrators.

Railtrack Plc

Instructed on behalf of the Special Railway Administrators of the company.

Global Crossing

Instructed on behalf of a number of the group companies in respect of the group’s restructuring in the UK and Hong Kong.

Camell Laird

Instructed on behalf of the Administrators of Camell Laird Holdings PLC.

The State of Brunei Darussalam v. His Royal Highness Prince Jefri Bolkiah

Instructed as counsel for the State of Brunei Darussalam and the Brunei Investment Agency in relation to litigation in Brunei and England for the recovery of assets.

“Barings”

Instructed as counsel to bondholders in relation to litigation and other issues arising in relation to the collapse of Barings Bank and the ensuing liquidation.

Inland Revenue v. Nissan UK Limited

Instructed as counsel for Nissan UK in relation to their appeals against assessments by the Inland Revenue in respect of corporation tax. The assessments to corporation tax were based upon serious allegations of fraud against the company and certain of its directors.

“Maxwell”

Instructed as counsel on behalf of the largest of the Maxwell pension funds in relation to litigation in both England and New York to recover assets from a number of financial institutions and in litigation against employee fidelity insurers.

Bank of Credit and Commerce International (“BCCI”)

Instructed as counsel for the Ruler of Abu Dhabi and the Majority Shareholders in relation to the collapse of BCCI.

Publications:

“Insider Trading - The Laws of Europe, the United States and Japan”: Kluwer (1992).

Responsible for drafting the Practice Statement on insolvency officeholders’ remuneration.

Articles:

“Charges over chattels: issues in the fixed / floating jurisprudence”: The Company Lawyer Vol 26 (No 1) p 10.

Lectures and seminars:

“The Good, the Bad and the Ugly” – member of discussion panel considering “pre-pack” administrations hosted by Ernst & Young LLP.

“Why all the fuss? - Approval of Insolvency Officeholders’ Remuneration”: delivered in London as part of the Hawksmere conference: “Current Issues in Insolvency”.

“Getting Paid – Approval of Insolvency Officeholders’ Remuneration”: delivered to the 11^th Annual Conference of the Association of Business Recovery Professionals (“R3”) held at Lake Maggiore, Italy.

“Obtaining Approval for Corporate Office Holders Remuneration”: delivered to the Insolvency and Litigation Departments of Clifford Chance Limited Liability Partnership.

“Financial Aspects of Corporate Moratoria”: delivered to R3.

“Insolvency and Sport – How to Make a Small Fortune…”: delivered to the Finance and Insolvency Departments of Latham & Watkins LLP.

“Funding Litigation in an Insolvency Context”: delivered to the Insolvency and Litigation Departments of Herbert Smith.

“Legal Issues of Significance and Interest for E-business”: delivered in Colombo, Sri Lanka to the Innovation, Security and Accountability in Information Technology seminar hosted by The British High Commission, The British Council and the Council for Information Technology (CINTEC).

“Law and the Internet”: delivered to the Corporate and Litigation Departments of Skadden Arps Meagher & Flom LLP.

“Co-operation Between Insolvency Courts – The UK Perspective”: delivered in Hong Kong to the Hong Kong Society of Accountants.

“Litigating in the Clients’ Interest”: delivered to the Litigation Department of Linklaters.

“Instructing Counsel and Interpretation of Pleadings”: delivered to the Litigation Department of Travers Smith.

“The Art of War: Litigation Tactics in Large Commercial Disputes”: delivered to the Litigation Department of Travers Smith.

“The Resolution of Commercial Disputes”: delivered to the Litigation Department of Wragge & Co.

“Limitation: Implications for Insurers”: delivered to the Insurance Department of Wragge & Co.