Rachael Reynolds KC

Practice Areas

Banking Disputes; Corporate and Financial Services Disputes; Dispute Resolution; Enforcement of Judgments and Awards; Fraud and Asset Tracing; Funds Disputes; International Arbitration; Private Equity; Regulatory; Regulatory, Investigations and Enforcement; Restructuring and Insolvency; Shareholder and Valuation Disputes; Trusts; Trusts Disputes and Applications

Career

Rachael is Global Senior Partner at Ogier, based in the Cayman Islands Dispute Resolution team. She has particular expertise in contentious trust matters, fund disputes and restructuring and insolvency and is a part of Ogier's multi-disciplinary Restructuring and Insolvency team. Rachael's practice regularly involves fraud and international asset tracing claims. She is also part of Ogier's multi-disciplinary Private Equity team, specialising in PE fund disputes, and has acted as an expert in international arbitration proceedings concerning Cayman Private Equity structures.

Appointed Kings Counsel in 2021, Rachael regularly appears as an advocate in complex international trust and estate matters, and is regularly instructed as an expert in Cayman law in proceedings in other jurisdictions. Her recent cases include:

- Acting for the investors and conflict director of Neoma Private Equity Fund IV (formerly APEF IV) in their recovery action arising out of the liquidation of the Abraaj Group. Abraaj was the largest private equity structure in the Middle East, with US$14 billion in stated assets prior to its collapse. The Group was placed into provisional liquidation in 2018 and went into official liquidation in 2019. Ogier is advising the investors in the largest fund in the Group

- Acting for the trustees of a complex multi-billion dollar STAR trust restructuring

- Acting for the executor of a large Cayman estate, involving contentious and non-contentious aspects of the administration

- Acting for HSBC as trustee in contentious trust proceedings in three jurisdictions, including proceedings in Cayman in which the Court handed down an important precedent setting decision concerning forum for administration clauses and gave guidance on the public policy of the Cayman Islands in the context of enforcement of judgments concerning Cayman trusts

- Advising the Joint Provisional Liquidators on the restructuring of Ocean Rig - the Cayman Islands' largest ever successful restructuring and one of the largest globally. The restructuring became effective within six months of the appointment of the JPLs, and resulted in an exchange by creditors of approximately US$3.7 billion of debt for new equity. Rachael provided expert evidence on Cayman law in the associated Chapter 15 proceedings in the US

- Acting for the liquidators of Ardent, having represented the petitioning directors in the winding up proceedings. She successfully appeared on behalf of the liquidators in an anti- suit injunction following hostile, incompatible action taken by creditors in another jurisdiction. The case involves Chapter 15 proceedings, asset tracing and fraud claims

- Advising investors in relation to the Abraaj Holdings collapse

- Acting in a clawback claim against a fund manager for Ennismore Fund Management. Ogier acted for the successful Defendant through to final appeal. The matter was ultimately decided by the UK Privy Council. Ogier is now instructed in relation to ancillary claims relating to an injunction which Ennismore obtained in 2009

- Acting for a service provider in proceedings related to the liquidation of the Platinum funds, involving Cayman and Chapter 15 proceedings

- Acting for the executors of estates worth approximately US$75 million in issues arising in the administration – including construction dispute, tax issues and disclosure applications

- Giving expert evidence on Cayman Islands law in foreign courts and arbitrations

- Advice in relation to private equity shareholder and investor disputes

- Unfair prejudice and derivative / double-derivative actions

- Advice in relation to, and assisting, activist shareholders

- Claims against fund service providers including directors, managers, investment advisors, custodians and auditors

Rachael is a member of the Cayman Islands Legal Practitioners Association and the Bar of England and Wales.

Admitted in:

2021 - Inner Bar of the Cayman Islands

2007 - Cayman Islands

1999 - England and Wales (non practising)

Publications

Rachael is a contributing author to International Asset Tracing in Insolvency, Oxford University Press, 2010.