Riz Mokal Called to the Bar 1997

Riz advises and acts as an expert witness on all aspects of English and cross-border insolvency, restructuring, bank resolution, company, commercial, and trust law, and in general commercial litigation.

He regularly appears unled in the High Court (including the Interim Applications Court) and county courts in a broad range of matters, including in relation to winding-up and bankruptcy petitions, administration applications, receivership, derivative actions, company restoration and dissolution, registration of charges, possession orders, injunctions, costs and case management matters, and public examinations and other officeholder powers under the insolvency legislation.

Amongst the matters in which he is or has recently been involved are the following:

  • In re Air Mauritius Ltd (CR-2020-002730) — recognition of Mauritian insolvency proceedings under the Cross-Border Insolvency Regulations 2006
  • ‘True sale’ analysis in securitisation transaction (May-June 2020) — advised with Felicity Toube QC on sale and repurchase transactions documented under the same ICMA GMRA which created the assets used as collateral in the securitisation
  • In re Renren, Inc. (653594/2018, New York Supreme Court) — the Court accepted expert evidence, given with Felicity Toube QC, on Cayman Island law governing derivative action by minority shareholders
  • Galapagos Bidco S.À R.L. v Kebekus (FL-2019-000015) — instructed with Barry Isaacs QC for the GLAS defendants in restructuring matter
  • LCIA Arbitration on contractual dispute (December 2019 – ) — instructed with Stephen Robins
  • Electronic Money Regulations and the Payment Services Regulations (March 2020 – ) — instructed with Glen Davis QC to advise the Financial Conduct Authority on matters relating to the ‘relevant funds’ regimes
  • Magdeev v Tsvetkov [2020] EWHC 1557 (Comm) — instructed with Stephen Robins as counsel for the claimant in matter involving (among other things) the effect of foreign illegality on contract governed by English law
  • Financial Conduct Authority v Allied Wallet Ltd — instructed as counsel for the Financial Conduct Authority in proceedings concerning an electronic money institution
    • instructed in application by (former) Joint Provisional Liquidators for payment on account (25 March 2020)
    • instructed to place electronic money institution in winding-up (20 March 2020)
    • [2019] EWHC 2857 (Ch) — instructed with Orlando Fraser QC in application by Joint Provisional Liquidators concerning (among other things) whether director may receive payment of legal costs incurred in assisting in the preparation of JPLs’ report
    • [2019] EWHC 2808 (Ch) — instructed with Orlando Fraser QC to place an electronic money institution in provisional liquidation
  • In re Fortuna Fix Limited (in administration) — instructed with Jeremy Goldring QC and Stephen Robins for independent shareholders in shareholder dispute
  • In re Reyker Securities PLC (CR-2019-006671): instructed in urgent application to place investment bank in investment bank special administration regime
  • British Steel (May-Oct 2019) — instructed with Jeremy Goldring QC to advise lenders on characterisation of security interests
  • Regulatory effect of Brexit (Apr-Aug 2019) — instructed to advise English bank owned by non-EU foreign central bank on adapting to withdrawal of the banking services passport in relation to the provision of banking services in Belgium, Cyprus, France, Italy, Luxembourg, the Netherlands, and Spain (among others)
  • Bullas v HLW Commercial Lawyers LLP (CL10CL948, Aug 2019) — instructed on behalf of the claimant for costs (budgeting) and case management conference in professional negligence matter
  • CASS Client Money rules (Mar-Jul 2019) — instructed by the Financial Conduct Authority to advise on issues arising under the Client Assets Sourcebook regime
  • Arbitration against a sovereign state brought under the Energy Charter Treaty and the UNCITRAL Rules relating to an alleged expropriation (March-May 2019) — instructed as an expert witness on international and comparative bankruptcy and company law
  • Lady Moon SPV srl v Petricca & Co Capital Ltd — instructed on behalf of the Claimant
    • [2019] EWHC 710 (Ch) — whether percentage costs order appropriate and whether payment on account ought to be made
    • [2019] EWHC 439 (Ch) — instructed with Tom Smith QC in relation to a challenge to the English Court’s jurisdiction in relation to proceedings against the English fund manager of an Italian alternative investment fund
    • [2018] EWHC 3678 (Ch) — instructed on behalf of the claimant on an application to ‘roll-up’ the hearing of the substantive claim together with the defendant’s challenge to the English Court’s jurisdiction
  • Re Lehman Brothers International (Europe) (2016-2018, High Court in London) — instructed with David Allison QC on behalf of Wentworth in relation to (i) the treatment of claims by Barclays Capital Inc.; the matter involves questions relating to the MiFID / CASS regime, set-off, statutory interest, and a range of equitable doctrines; and (ii) the statutory interest ‘Lacuna’ application
  • Re Z Trust [2018] JRC 119 and [2018] JRC 164 (Royal Court of Jersey) — instructed with Tom Smith QC on behalf of the trustee (the treatment of insolvent trusts and the rights of the beneficiaries, creditors, and current and former trustees)
  • Beaufort Asset Clearing Ltd & Beaufort Securities Ltd (2018, High Court in London, sitting in private on a without notice application) — instructed first with Tom Smith QC and then with Gabriel Moss QC on behalf of the Financial Conduct Authority (to place an investment bank in the special administration regime, and an associated entity in administration).
  • Re Webinvest Ltd [2018] BPIR 182 — instructed with Antony Zacaroli QC on behalf of the insolvency officeholders (insolvency officeholder conflicts of duty; use of material compulsorily obtained under Insolvency Act powers; disclosure; privilege)
  • Re Ocean Rig UDW Inc (FSD 100-103 of 2017, Grand Court of the Cayman Islands) — instructed with Antony Zacaroli QC on behalf of lenders in relation to a successful restructuring through schemes of arrangement


Prior to taking up full-time practice at the Bar, Riz was Senior Counsel to the World Bank and Head of the Bank’s Global Initiative on Insolvency and Creditor/Debtor Regimes (2009-2013) and held several academic positions, including the Chair of Law and Legal Theory at University College London (2008-2016). He has worked on law and practice reform with the governments of some twenty countries, and his scholarship has influenced legislation in several jurisdictions and has been cited with approval by several courts around the world.

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