STEWART CHIRNSIDE

 Call: 2005

Stewart is experienced in a range of common law and commercial matters, including banking and finance, commercial fraud, professional negligence and property damage.

Stewart is also recognised by LEGAL 500 as a leading junior in the field of Banking and Finance.

Before joining 2TG in 2006, Stewart worked as a strategy and risk management consultant in the financial services industry. Stewart is a modern languages graduate with an excellent knowledge of French and German.

  • Banking & Finance

    • Stewart’s main area of expertise is in Banking and Finance where he is recognised by LEGAL 500 as a leading junior.

      Stewart has extensive experience of claims for mis-seling of interest rate swaps, structured products and other derivatives as well as claims under s.150 FSMA 2000 for breaches of the FSA Rules. Stewart also has experience of asset finance and leasing and Consumer Credit Act issues.

      Recent cases include:

      • Advising a Greek shipping/investment company in relation to a proposed £500,000 claim against a major investment bank for alleged mis-selling of structured products and fraudulent misrepresentation.
      • IG Markets v Crinion [2012] EWHC B4 (Mercantile) (Birmingham): successfully represented the claimant on a 4 day trial of two related debt claims totalling over €2.2m arising out of losses incurred on CFD trading accounts. The case involved complex issues of agency and allegations of multiple breaches of the FSA Rules.
      • Rubicon Fund Management LLP v Attias & Ors (2012) (Ch): instructed as junior counsel for the claimant in a £100m claim relating to an alleged fraudulent conspiracy by former members of a hedge fund to steal clients and confidential information. Six week trial settled mid-trial.
      • McGinn & Ors v Bank of Scotland plc & Anor (2011) (Ch): instructed as junior counsel for the claimants in a £8m claim against the bank involving issues as to whether monies held by a company on behalf of the participants in a tax avoidance scheme were held on trust and if so whether the bank had notice of the trust so as to preclude its right of set off.
      • Varveris v Credit Suisse (UK) Ltd (2010) (Comm): advising the claimants in relation to a €3m claim arising out of the alleged mis-selling of structured products and alleged breaches of the FSA Rules.
      • IG Markets Ltd v Raymond (2010): acting for the claimant in a £700,000 debt claim arising out of losses incurred on CFD trading accounts. The claim involved allegations of multiple breaches of the FSA Rules.
      • ED&F Mann Commodity Advisors Ltd v Fluxo-Cane Overseas Ltd & Another [2008] EWHC 1997 (Comm): instructed as junior counsel for the claimants in a three day summary judgment application in a claim for $22m relating to an unpaid margin call and involving multiple alleged breaches of the FSA Rules. Stewart was subsequently involved in preparing an application for contempt for failure to comply with a post-judgment freezing order and appeared on a post judgment application for interest to be assessed to assist in US proceedings (2010).

  • Commercial Dispute Resolution

    • Stewart has an extensive commercial practice. He regularly appears in trials in both the High Court and County Courts and has extensive experience of interlocutory hearings, including applications for freezing injunctions, injunctions to restrain winding up petitions, applications for disclosure and delivery up, and Norwich Pharmacal / Bankers Trust orders.

      Recent cases include:

      • Rubicon Fund Management LLP v Attias & Ors (2012) (Ch): instructed as junior counsel for the claimant in a £100m claim relating to an alleged fraudulent conspiracy by former members of a hedge fund to steal clients and confidential information. Six week trial settled mid-trial.
      • Senergy Ltd v Zeus Petroleum Ltd [2011] EWHC 3382 (Comm): instructed as junior counsel in a £12m claim for breach of contract relating to the hire of an oil rig.
      • Lictor Anstalt v Mir Steel UK Ltd [2011] EWHC 3310 (Ch): instructed as junior counsel for the defendant on a summary judgment application in a €50m claim relating to the ownership and sale of a steel mill following insolvency and the appointment of administrators. The case involves interesting issues in relation to the economic torts.
      • Exception Var Ltd v Goff & Others (2010) (Ch): instructed as junior counsel in a claim relating to an alleged conspiracy by senior management to provide confidential information to a competitor. Stewart was involved in numerous applications including an application for springboard relief, an application to appoint a receiver, a cross-application to discharge a search order, and numerous third party disclosure orders.

  • Commercial Fraud

    • Stewart has a particular interest in commercial fraud and has extensive experience of claims involving freezing orders, search orders, delivery up and disclosure orders, Norwich Pharmacal / Bankers Trust orders and other interim relief.

      Cases include:

      • Frama UK Ltd v Klineberg (2012) (Ch): instructed as counsel for the claimant in a case involving allegations of misappropriation and sale of confidential information by a senior former employee. Obtained an ex parte interim injunction and orders for delivery up and disclosure.
      • Rubicon Fund Management LLP v Attias & Ors (2012) (Ch): instructed as junior counsel for the claimant in a £100m claim relating to an alleged fraudulent conspiracy by former members of a hedge fund to steal clients and confidential information. Six week trial settled mid-trial.
      • Charles Russell LLP v Rehman [2010] EWHC 202 (Ch): instructed on behalf of defendants on 3-day application to discharge multiple freezing orders. Stewart was also instructed to defend contempt proceedings in this case.
      • Exception Var Ltd v Goff & Others (2010) (Ch): instructed as junior counsel in a claim relating to an alleged conspiracy by senior management to provide confidential information to a competitor. Stewart was involved in numerous applications including an application for springboard relief, an application to appoint a receiver, a cross-application to discharge a search order, and numerous third party disclosure orders.
      • ESurv Ltd v Saeed & Ors (2006) (Comm): instructed as second junior counsel in a multi-million pound claim involving an alleged conspiracy to defraud multiple mortgage lenders. Stewart was involved in obtaining multiple freezing orders, search orders, disclosure orders and contempt proceedings.

  • Professional Negligence

    • Stewart has a keen interest in professional negligence. He is regularly instructed in the High Court and County Court in claims against various professionals including solicitors, property valuers, accountants, builders and architects.

  • Construction & Property Damage

    • Stewart has extensive experience of tree root claims and claims in nuisance/negligence for flood damage and related insurance matters, as well as other property damage claims including party wall disputes.

  • Significant Cases

      • Rubicon Fund Management LLP v Attias & Ors (2012) (Ch): instructed as junior counsel for the claimant in a £100m claim relating to an alleged fraudulent conspiracy by former members of a hedge fund to steal clients and confidential information. Six week trial settled mid-trial.
      • IG Markets v Crinion [2012] EWHC B4 (Mercantile) (Birmingham):  successfully represented the claimant on a 4 day trial of two related debt claims totalling over €2.2m arising out of losses incurred on CFD trading accounts. The case involved complex issues of agency and allegations of multiple breaches of the FSA Rules.
      • Senergy Ltd v Zeus Petroleum Ltd [2011] EWHC 3382 (Comm): appeared as junior counsel in a £12m claim for breach of contract relating to the hire of an oil rig.
      • Lictor Anstalt v Mir Steel UK Ltd [2011] EWHC 3310 (Ch):  instructed as junior counsel for the defendant on a summary judgment application in a €50m claim relating to the ownership and sale of a steel mill following insolvency and the appointment of administrators.  The case involves interesting issues in relation t the economic torts.
      • Exception Var Ltd v Goff & Others [2010] EWHC 2395 (Ch): Junior Counsel for claimants in a three-day application to appoint a receiver and cross-application by defendants to discharge a search order.
      • Charles Russell LLP v Rehman [2010] EWHC 202 (Ch) Roth J: 3-day application to discharge a freezing injunction against 3 respondents.
      • Dobin v Vanlangenaeker (2009) (Ch) J Cousins QC (sitting as a deputy): two-day trial relating to a claim for breach of fiduciary duty arising out of the misappropriation of funds from a joint bank account.
      • ED&F Mann Commodity Advisors Ltd v Fluxo-Cane Overseas Ltd & Another [2008] EWHC 1997 (Comm) Walker J: Junior Counsel for the claimants in a three day summary judgment application in a claim for $22m relating to an unpaid margin call.
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