Senior PartnerS: Anthony Riem, Trevor Mascarenhas
Number of partners: 5
Assistant solicitors: 9
Other fee-earners: 5
Fraud & Asset Recovery: Anthony Riem
Litigation & Arbitration: Trevor Mascarenhas
PCB is a conflict-free specialist dispute resolution practice, handling complex multi-jurisdictional litigation, arbitration and investigations over a wide variety of industry sectors.
Based in London, PCB utilises a network of lawyers spanning the globe, and has been involved in some of the largest and most high profile disputes in recent years, as well as cases at the cutting edge of the law.
The firm prides itself on delivering an exceptional service and its ability to handle any major commercial dispute against any opponent. The lateral thinking and creativity of the firm’s partners, who take a handson approach to cases, often finds the winning solution for clients where others have failed. The firm always challenges itself to add value and to handle matters efficiently, cost-effectively and to remove as far as possible the stresses and strains of clients. Above all, the firm wants to achieve a successful outcome for clients.
Founded in 1979, PCB has built a formidable reputation in fraud and asset recovery cases, which represent some of the most high-pressured and challenging disputes. The skills that the firm has honed in dealing with such cases have in recent years led to the expansion of other practice areas of the firm, most notably in banking litigation, insolvency, international arbitration and commercial litigation more generally.
PRINCIPAL AREAS OF WORK
Asset Recovery: PCB is without doubt one of the World’s leading asset recovery firms, as recognised by the major directories. The firm’s strength lies in developing and implementing strategies, often involving simultaneous freezing/receivership orders in multiple jurisdictions, combined with search orders or other disclosure orders. In 2019, PCB secured a £1.4bn freezing order and a search order against an alleged former owner of a Russian Bank (in liquidation). PCB is also dealing with the multi-jurisdictional enforcement of the UK’s largest ever divorce award.
Banking Litigation: Acting both for and against banks and other financial institutions, including investigating and bringing claims in respect of failed banks against former controllers, as well as handling claims against banks in respect of breaches of regulatory requirements. PCB is currently instructed in a major dispute between Russia’s two largest banks, as well as for one for one the world’s leading car manufacturers against one of the world’s largest banks.
Civil Fraud: Pre-eminent in the fraud arena, PCB acts for both claimants and defendants, in cases involving serious allegations of wrongdoing, including conspiracy, breach of fiduciary duty, dishonest assistance and deceit. PCB has in 2019 scored a major victory against the Libyan Investment Authority in knocking out on jurisdiction and limitation grounds one of what was expected to be a series of large, high-profile claims against its client and major Western financial institutions for alleged bribery and corruption. PCB is also acting for a major insurance company in fraudulent misrepresentation claims against various rogue traders.
Commercial Litigation: From company and joint venture disputes to breach of contract and professional negligence claims, often involving substantial jurisdictional challenges. PCB is currently involved in a contractual dispute between two private equity houses and in an insurance/reinsurance claim arising from the loss of a large industrial factory due to the Syrian conflict.
Insolvency: Using the insolvency process to put parties into bankruptcy as well as dealing with crossborder recognition, the use of insolvency discovery powers and claims arising from insolvency, including for misfeasance and transactions to put assets beyond the reach of creditors. PCB recently successfully defended as US$1bn+ claim brought by liquidators of a Greek Telecom’s company against one of the world’s largest private equity houses. PCB also acts for the trustee in bankruptcy of ‘the Chilean Madoff’ in crossborder insolvency proceedings to recover assets for the victims of a major South American Ponzi scheme.
Investigations: Primarily corporates where issues of bribery, corruption or other wrongdoing arise against current and former officers/employees/agents. Also in respect of individuals potentially exposed to unexplained wealth orders or other sanctions.
International Arbitration: Ad hoc and institutional arbitrations, in London and overseas, as well as injunctive relief in support of arbitration, enforcement and challenges to awards and enforcement. In 2019, one of the firm’s partners received the Client Choice Award for arbitration and ADR. PCB is acting for a state-owned oil and gas company in a challenge to enforcement of a US$150m arbitration award.
Real Estate Litigation: Landlord and Tenant claims, claims for possession and disputes involving easements, breaches of covenants and planning. PCB acts for the victims of an increasingly prevalent tenancy scam, in respect of a multi-million pound residential property.