LK Law LLP

Firm Details:

Managing Partner: Andrew Ford

Number of partners: 19

Number of other fee-earners: 80

International Offices: 2

Firm Overview:

Established in 2004 in Australia, LK Law LLP London opened in 2012.

LK Law have a single-minded focus on disputes. They fight cases and coordinate international multi-disciplinary teams in complex commercial litigation and arbitration around the world. The firm also act in independent, corporate, governmental and regulatory investigations and advise on managing the risk of disputes and on corporate governance matters.

LK Law have particular experience and expertise in urgent asset-freezing orders; asset-tracing; civil fraud; arbitration (both commercial and investment-treaty); acting for insolvency practitioners; acting for and against high-net-worth individuals; financial services; company law; and art & cultural heritage

The overwhelming majority of the firm's cases are international, involving multiple jurisdictions, including in Asia, the UK, Continental Europe, the US, the Middle East and all major offshore jurisdictions. They advise clients in many industries, including mining, commodities, construction, banking and financial services. LK Law have litigated everything from massive civil fraud cases, to one of the most expensive paintings ever sold. From an international coffee brand's trademark to interest rate derivatives. The firm have been instructed as lead counsel in some of the largest and most prominent contentious insolvency recovery actions in the world. We also regularly act for liquidators in actions against auditors, valuers and financial institutions. The firm's lawyers also have sustained experience of investor-state arbitration, both for states and investors, and of international commercial arbitration and the enforcement of arbitral awards

LK Law are committed to creating value for clients. A lean organisation and dedicated focus on disputes means that they provide services more cost-effectively than larger full-service firms, and can easily scale teams for large matters.

The firm is conflict free. The firm has no transactional departments. This makes them able to act against almost anyone, including the banks. Conflict checks at large firms can take days or more; the firm's can be completed within hours.

Representative cases

Al Gosaibi Family & Group (AHAB)

Advising on the first scheme of arrangement ever attempted in Saudi Arabia, concerning claims by over 100 international financial institutions running into the billions of dollars. LK acts for AHAB to prosecute and defend claims on its behalf around the world following a fraud perpetrated by Maan Al Sanea and his Saad Group. As a result of the fraud, AHAB owed US$9.2bn to 118 banks and other financial institutions around the world. LK’s work has included co-ordinating the defence and, more recently, the settlement of these claims.

In the past year, using Saudi Arabia’s new insolvency regime, a Financial Restructuring Proposal (the first of its kind) has been approved by the Saudi Court and AHAB’s creditors. LK has assisted AHAB in formulating and implementing this proposal and works closely with AHAB’s General Counsel, AHAB’s KSA lawyers and the Saudi Arabian Trustee in Bankruptcy. AHAB hopes a first payment to creditors will be made in the next few months; a real estate fund will also be established and a large KSA share portfolio sold.

Jurisdictions: Multiple jurisdictions including Saudi Arabia, UK, Cayman Islands, UAE

Scully Royalty Ltd:

Acting for defendants in a US$40m Cayman Islands claim brought by Raiffeisen, involving allegations of asset-stripping under a fraudulent conspiracy in order to avoid liability under certain guarantees. Raiffeisen obtained a worldwide freezing order against our clients, which the firm were able to have discharged in part.

The Public Institution for Social Security v Al Wazzan (as representative of Al Rajaan) & Others

This is a c. US $874m international fraud claim issued in the Commercial Court by the public institution responsible for operating the State of Kuwait’s social security system and pension scheme. Our clients are among 41 defendants who are alleged to have acted in concert in various combinations to make and conceal corrupt payments to the institution’s most senior officer over the course of two decades. Listed among The Lawyer’s “Top 20 Cases of 2020”, the proceedings remain one of the most substantial pieces of litigation ever before the English courts.

The case has been and continues to be engulfed in significant procedural demands and complex matters of law. For example:

1.There have been parallel criminal investigations and proceedings in both Kuwait and Switzerland, and requests for Mutual Legal Assistance.

2.Ten defendants, including several Swiss banks, successfully challenged jurisdiction. The Claimant was denied leave to appeal to the Supreme Court and subsequently initiated parallel civil proceedings in Switzerland against some of the challenging defendants.

3.In the lead up to a 30-week trial slated to commence in March 2025, there have been six case management conferences since June 2022, with further hearings to be listed throughout 2024.

4.The litigation demands substantial consideration as to the application of Kuwaiti, Swiss and English law against a complex factual matrix involving nine alleged schemes and spanning more than two decades.

5.Unlike most of the defendants, our client is not a large financial institution. The stakes are extraordinarily high.

.

Healthcare construction arbitration

Representing a state government in arbitration and other proceedings concerning defaults, delays and defects arising out of a US$1.58 billion PPP arrangements for the design, construction and operation of a major health facility (ACICA Rules; Australia seat).

Sports infrastructure arbitration

Acting for the contractor in a US$35m dispute (ICC Rules; London seat) against a State and State-owned entity. Successfully obtained an award and subsequently successfully negotiated payment terms and a waiver of sovereign immunity (unprecedent in that State’s history) in case enforcement action is required

Financial services arbitration

Acting for an ultra-high-net-worth individual and related entities in financial services dispute across multiple jurisdictions and involving claims of over US$80m (LCIA Rules, London seat).