Barry Isaacs KC

Significant cases include:

• Cimolai [2023] EWHC 923 (Ch), Cross-Border Insolvency Regulations 2006/stay of proceedings/restructuring plan
• Chandrasekaran v Fisher [2023] EWHC 522 (Ch), out-of-court appointment of administrators/defects/contractual interpretation
• ALL Scheme [2022] 3 WLUK 189, retail scheme of arrangement/ alternative schemes/misselling
• Provident SPV [2022] 1 BCLC 540, retail scheme of arrangement/misselling
• Castle Trust [2021] 2 BCLC 523, scheme of arrangement/ coronavirus/ remote meetings
• Debenhams [2020] 5 WLUK 398, administrators/ contributories petitions/investigations
• London Oil & Gas [2020] 1 WLUK 47, validity of appointment/ locus standi/ retrospective effect
• Ve Interactive [2019] BPIR 438, removal of administrators from office
• VB Football Assets v Blackpool Football Club [2019] BCC 896, equitable execution/receivers
• Bakhshiyeva v Sberbank of Russia [2018] 4 All ER 964, Cross-Border Insolvency Regulations, rule in Gibbs
• Lehman Brothers International (Europe) [2018] 1 All ER 205 (SC); [2016] Ch 50 (CA); [2015] Ch 1 (Waterfall Application), priority of subordinated debt/potential liability of members for liabilities of company/currency conversion claims/interest
• APCOA Parking [2014] 2 BCLC 285, scheme of arrangement/change of governing law
• Nortel; Lehman Brothers International (Europe) [2014] AC 209 (SC); [2012] BCC 83 (CA); [2011] BCC 277, provable debts/expenses
• Rubin v Eurofinance; New Cap Reinsurance v Grant [2013] AC 236 (SC); [2012] Ch 538 (CA); [2010] 1 All ER (Comm) 81, mutual recognition and assistance/enforcement of foreign insolvency judgments
• Bank of Scotland v Targetfollow Property Holdings [2013] BCC 817, contested administration
• European Directories [2012] BCC 46, pre-pack administration/change of COMI
• Stanleybet UK Investments [2012] BCC 60, removal of administrators/wishes of creditors
• Rodenstock [2012] BCC 459, solvent scheme of arrangement/foreign company
• Shah v Patel [2010] BPIR 496 (CA), contempt of court by company director/appropriate sentence
• Perpetual Trustee Co v BNY Corporate Trustee Services; Butters v BBC Worldwide [2010] Ch 347 (CA); [2009] BPIR 1315, anti-deprivation principle/joint ventures

Other significant cases include Amigo Loans, Premier Oil, Intu, Arcadia, Carillion, Co-operative Bank, Cory Environmental, Punch Taverns, Travelodge, Portugal Telecom, NCP, Quinn Group, Southern Cross, Tele Columbus, Alitalia, Borsodchem and IMO Car Wash.

Significant cases include:

• Greensill
• Galapagos
• HSBC Bank, ringfencing transfer scheme
• iKang Healthcare; Qunar [2019 (1) CILR 611]; Nord Anglia; Eurasia Drilling; Homeinns Hotel Group, dissenting shareholders/appraisal of fair value
• Caledonian Bank, disputed sanction application/construction of facility agreements
• US Bank Trustees v Titan Europe 2007-1, servicing agreement/identity of controlling party
• Mill Financial v Gillett, expert on English finance law in New York Supreme Court
• AWAL Bank, GRMA close out and misrepresentation claims
• MF Global [2013] Bus LR 1030 (Hindsight Application), client money rules/hindsight principle
• Davenham Trust v White [2012] 1 BCLC 123 (CA); [2011] BCC 77, guarantees/security
• Lehman Brothers, ISDA close out and related disputes
• Monarch Pointe Fund v Somers Dublin HCVAP 2011/040 (BVI CA) and BVIHCV 2008/197, redemption payments
• Landsbanki
• Kaupthing

Structured finance and investment vehicles, CFOs, CLOs and CDOs, RMBS and CMBS, including:

• Titan Europe 2006-1, 2006-2, 2007-2
• NorthLake CDO I
• White Tower
• Clio European CLO
• Sigma Finance [2010] 1 All ER 571 (SC); [2009] BCC 393 (CA)
• Eurosail [2009] EWHC 513 (Ch)
• Bank of New York v Montana Board of Investments (Orion Finance) [2009] 1 All ER (Comm) 1081
• Whistlejacket Capital [2008] 2 BCLC 683 (CA)
• Golden Key [2009] All ER (D) 18 (CA); [2009] All ER (D) 40
• Cheyne Finance (No 2) [2008] 2 All ER 987
• Cheyne Finance (No 1) [2008] 1 BCLC 732
• Sciens CFO
• Rhinebridge
• Mainsail

Barry has wide-ranging commercial experience and has appeared in a number of major trials, including Three Rivers DC v Bank of England (2 year commercial trial), the Bermuda Fire & Marine Insurance litigation (9-month trial in Bermuda), and NEMGIA v AGF.

Other significant commercial cases include:

• Confidential arbitration, $150 million claim for professional negligence/breach of contract against valuation agent (6 week trial with 28 witnesses)
• Confidential arbitration, $350 million fraud claim against investment manager and manager of two Bermuda hedge funds
• Rosesilver v Paton [2018] EWHC 103 (Ch), setting aside judgment obtained by fraud/pre-action disclosure
• Rosesilver v Paton [2017] EWCA Civ 158, [2015] EWHC 1758 (Ch), breach of fiduciary duty/specific performance/equitable remedies
• Stainer v Lee [2011] 1 BCLC 537, derivative action/breach of directors’ duties
• FKI Engineering v Stribog [2011] 1 WLR 3264 (CA); [2010] 2 All ER (Comm) 906, declaration of incompatibility/Judgments Regulation
• Stornoway v SIV Portfolio [2011] All ER (D) 98, scope of indemnity clause
• BTA Bank v Ablyazov, fraudulent misappropriation of funds
• OBG v Allan, Douglas v Hello! (No 3), Mainstream Properties v Young [2008] AC 1 (HL), inducing breach of contract/interference with contractual relations/causing loss by unlawful means
• Alfa Petroleum, dispute with BP relating to TNK-BP joint venture
• Brunei Investment Authority v Price Jefri, misappropriation of funds
• Leaderguard v MF Global, breach of duty and dishonest assistance
• Amadeo Hotels v Zaman [2007] EWHC 295 (QB), worldwide freezing order

Barry has particular expertise in relation to legal privilege, disclosure and civil procedure, having appeared in numerous cases arising from the BCCI collapse, including 7 appeals in the Court of Appeal or House of Lords:

• [2005] 1 AC 610 (HL); [2004] QB 916 (CA); [2003] All ER (D) 40, legal professional privilege
• [2005] CP Rep 47 (CA), judgments in private
• [2005] CP Rep 46 (CA), restriction of cross-examination
• [2003] All ER (D) 76, conduct of proceedings/exclusion of witnesses
• [2003] All ER (D) 78, amendment of pleadings
• [2003] QB 1556 (CA); [2002] CP Rep 34, scope of legal advice privilege
• [2003] 1 WLR 210 (CA); [2002] All ER (D) 524, third party disclosure/meaning of “likely”
• [2003] 2 AC 237 (HL), test for summary judgment
• [2002] All ER (D) 130, disclosure/confidentiality
• [2002] All ER (D) 207, public interest immunity/summary of report of British Intelligence services

Barry frequently appears in overseas jurisdictions in the fields of insolvency/restructuring, banking/finance, and commercial law, and as an expert on English law. He has been called to the Bars of the Cayman Islands, Bermuda, and the British Virgin Islands and registered as a legal practitioner in the Dubai International Financial Centre.

Recent cases in the Cayman Islands include:

• Trina, s 238 appraisal action
• Medimpact, just and equitable winding up petition
• iKang, s 238 appraisal action
• Sky Solar, strike out of winding up petition
• Qunar, s 238 appraisal action
• Platinum Partners Value Arbitrage Fund, sanction of litigation funding agreement
• Abraaj, commercial and insolvency disputes
• Nord Anglia Education, s 238 appraisal action
• FFC Fund, just and equitable winding up
• Weavering Macro Fixed Income Fund, preference claim
• China Branding Group, appeal against rejection of proof
• Eurasia Drilling, s 238 appraisal action
• Pacific Harbor Asia Fund, appointment of official liquidators
• CHC Group, validation order/provisional liquidation
• Primeo Fund, third party disclosure/liquidator’s duties
• Homeinns Hotel Group, s 238 appraisal action
• China Fishery Group, appointment of provisional liquidators
• Sterling Macro Fund, just and equitable winding up
• Caledonian Bank, commercial disputes/sanction application

Other recent cases in overseas jurisdictions include:

• DIFC: Abraaj Capital
• Bermuda: George’s Bay; VL Assurance; Lehman Re; Saab Financial (Bermuda); KIC; Millennium Asset Management
• British Virgin Islands: Chagala Group; Kaupthing; Monarch Pointe Fund; Thema Fund
• Hong Kong: DMX Technologies, Noble Group, Mongolian Mining Corporation
• New York: Lehman Brothers International Europe; Mill Financial v Hicks; Hellas Telecommunications v TPG; Deutsche Bank v Serengeti
• Bahamas: British American Insurance
• Luxembourg: Hellas Telecommunications

Barry’s expert evidence on cross-border insolvency and transaction avoidance was accepted by the US Bankruptcy Court, Southern District of New York in Re Hellas Telecommunications, TPG Capital Management v Hosking (Case No 12-10631, 29 January 2015).

Extensive experience of insurance and reinsurance insolvencies and restructurings, solvent and insolvent schemes of arrangement and business transfer schemes, including:

• Stronghold, scheme of arrangement
• Prudential, Rothesay (CA) [2021] Bus LR 259, Part VII transfer
• Scottish Widows, Part VII transfer
• Royal London Mutual, Part VII transfer
• Enstar (Bosworth, Knapton, Marlon, Mercantile, Indemnity, Unionamerica, River Thames), Part VII transfers
• British American Insurance Co (Bermuda), scheme of arrangement
• KIC Insurance (Bermuda), disputed proof of debt, Wrotham Park damages
• Orion, cut-off scheme of arrangement
• Enstar (Cavell, Fieldmill, Hillcot Re, Longmynd, River Thames, Unione Italiana (UK) Re) [2014] WLUK 1016, Part VII transfers
• Ansvar (New Zealand), contingent solvent/insolvent scheme of arrangement
• Lehman Re (Bermuda), subrogation/set-off/restructuring scheme
• Equitas Insurance [2010] Lloyd’s LR 69, the largest transfer of insurance business, covering all 1992 and prior nonlife business of members of Lloyd’s
• Phoenix and London Assurance [2009] EWHC (Ch) 3502, scheme of arrangement compromising guaranteed pension rates and changing future investment strategy
• Equitas Insurance [2009] Bus LR 509, dispensation of notification requirements under Part VII before finalisation of independent expert’s report
• WFUM Pools [2007] EWHC 1781 (Ch), contested solvent schemes of arrangement
• Sompo, contested Part VII transfer
• Highlands, direct solvent scheme and cedant scheme for insolvent company
• Minster, 7 solvent schemes of arrangement
• World Marine, solvent scheme of arrangement
• Equitable Life [2002] 2 BCLC 510, scheme compromising guaranteed annuity rates and mis-selling claims
• Equitable Life [2002] BCC 319, whether three classes appropriate/split voting

Other reported cases include:

• Dolphin Quays v Mills [2008] 1 WLR 1829 (CA); [2007] 4 All ER 503, third party costs
• Crompton’s Leisure [2007] BCC 214, exit from administration
• Three Rivers DC v Bank of England [2003] 2 AC 1 (HL), misfeasance in public office/First Bank Coordination Directive (77/780/EEC)
• Company (No 2507 of 2003) [2003] 2 BCLC 346, costs
• Stallton Distribution [2002] BCC 486, administration/wishes of creditors
• Munns v Perkins [2002] BPIR 120, remuneration
• Society of Lloyd’s v Waters [2001] BPIR 698, annulment of bankruptcy
• Mathew [2001] BPIR 531, statutory demand
• Cevello v Currys Group [2000] BPIR 976, statutory demand/fresh evidence
• BCCI v Al-Kaylani [1999] ILPr 278, discovery/domicile
• Judd v Brown [1999] BPIR 517 (CA); [1997] BPIR 470, sale of matrimonial property/benefit to creditors
• Raval [1998] BPIR 389, sale of matrimonial home/mental illness
• Salters Hall School [1998] BCC 503, remuneration/successive liquidators
• McMahon v AGF [1997] 2 BCLC 191, damages
• Pendigo [1996] BCC 608, costs

Chambers & Partners

Past winner of Insolvency/Restructuring Silk of the Year

• “One of the smartest and also nicest people you could ever hope to work with”
• “On his feet, during cross-examination, he was astounding”
• “On his feet he is incredibly impressive”
• “He never gets flustered; an absolute dream to work with”
• “Fantastic – easy to deal with, gives very good advice and a really good operator in court”
• “He will always go the extra mile to give clients what they need”
• “Very hard working with meticulous attention to detail and willingness to get stuck into the toughest of matters”
• “Very persuasive, both to clients and the Courtroom”
• “Tenaciously fights his client’s corner and is willing to roll up his sleeves and get stuck into the material”
• “Very thoughtful and pragmatic; he is just top-drawer”
• “His knowledge of the area is absolutely encyclopaedic”
• “Really goes the extra mile for clients”
• “Very diligent and very thorough. No stone is left unturned and every single point is dealt with as fully as it can be. He doesn’t miss anything”
• “Incredibly impressive”
• “No-nonsense, very thorough, accessible and good with clients.”
• “Incredibly responsive, easy to deal with and an excellent lawyer”
• “Provides very sensible advice, picks up on points others miss and really builds a rapport with his client”
• “Highly rated for his tremendous work rate, his exhaustive knowledge of insolvency law and his excellent client-facing skills”
• “A great guy to work with and very bright”
• “Meticulous in his preparation for trial and impressed with his ability to manipulate small pieces of data with accuracy and focus”
• “Has excellent technical knowledge and an impressive ability to distil complex issues into manageable chunks”
• “A very clever lawyer, he really knows his stuff”
• “Applauded for his attention to detail and diligence. He’s very good at getting on top of a brief so that he has total recall of all the detail in the case”
• “Incredibly knowledgeable, practical and accessible”
• “Has a very impressive legal mind”
• “Insightful and commercial”
• “Praised for his important work on cross-border insolvency”
• “Well respected by judges”
• “Very well received by judges”
• “Barry is fantastic when it comes to things involving complex valuations and financial things, I don’t think you can find anyone better”

Legal 500

• “A calm courtroom presence, which is devastatingly effective”
• “A great advocate, both orally and on paper: he is concise, incisive, well-measured, nimble, and judges like and appreciate his style”
• “Unflappable in court”
• “Clinical as a surgeon in his preparation – knows a case like the back of his hand and is able to think strategically and outside of the box. A go to silk in the prime of his career”
• “Razor sharp cross examiner”
• “his oral advocacy is always perfectly measured’
• “Wonderfully measured advocacy style combined with a phenomenal work ethic”
• “Barry’s prodigious work ethic and attention to detail is second to none”
• “Barry has meticulous attention to detail and a ferocious work-rate”
• “Really rolls his sleeves up and cares about delivering excellence”
• “Tenacious in arguing his client’s case in court but does so in a manner that is persuasive and doesn’t offend the judge”
• “Barry’s manner in court is excellent, meticulous and persuasive even when under intense fire from the judge”
• “Excellent on strategy and attention to detail”
• “Incredibly bright and thorough, and able to focus in on the key issues”
• “At the top of his game, and extremely accessible and good with clients”
• “Has a proven ability to navigate a clear path through the most complex of matters”
• “At the top of his game in offshore insolvency and involved in most of the big matters”
• “Outgoing, charming and fun, and is part of the team from day one”
• “Has excellent client relationships and is very good to work with”
• “He is willing to take on the hospital passes and give them the intense care that they need, often succeeding against the odds”
• “Particularly effective in finding some obscure authority to use”
• “Strong numeracy skills and a willingness to grapple with esoteric legal and financial issues”
• “Barry has a brilliant way of getting into the intricacies of financial details on a matter”
• “Exceptional on technical business valuation matters, particularly in cross-examination of experts on the subject”
• “He is like a human calculator when it comes to numbers”

Contributor to Company Directors: Duties, Liabilities and Remedies (1st Edition, OUP)