Insolvency CV Overview

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Lisa Linklater Call 1995 Clerks Details Ian Spencer 0113 203 1971 Nicole Haigh 0113 203 1975 Appointments Accredited Mediator (CEDR) Attorney General s Regional Panel of Counsel (2000 2018)

1 Lisa Linklater Call 1995 Clerks Details Ian Spencer Nicole Haigh Appointments Accredited Mediator (CEDR) Attorney General s Regional Panel of Counsel ( ) Memberships Chancery Bar Association R3 fellow (association of business recovery professionals) (full member) Northern Chancery Bar Association Insolvency Lawyers Association (full member) North Eastern Circuit Education MA Cantab (Law), University of Cambridge (Jesus College), (Class II:i) Inns of Court School of Law, London (Very Competent) The Honourable Society of the Inner Temple Insolvency CV Overview Lisa has forged an excellent reputation as a leading barrister in insolvency and company law and related litigation. She has been recommended as a leading barrister in insolvency in legal directories for many years and continues to be a very popular choice of Counsel, receiving a variety of regular instructions in relation to both corporate and personal insolvency. Lisa is valued by clients for combining excellent practical skills and technical knowledge with commercial acumen, an approachable manner and high-quality service. Recent highlights of Lisa s insolvency practice include: Appearing in the precedent decision of Norris J in Re Graico Property Co Ltd (in administration) [2017] BCC 15 (Norris J) on behalf of the Applicant administrators. Acting in the high-profile contested administration application in respect of VE Interactive Ltd. The hearing was reported in the Financial Times and other business press and is connected with the case of Re Ve Interactive Ltd (in administration); Ve Vegas Investors IV LLC and others v Shinners and others [2018] EWHC 186 (Ch) Representing and advising Defendants to serious claims of knowing assistance, knowing receipt and related tracing claims brought by a company registered in Gibraltar, acting by its liquidators. The case settled at the court door (2017)(before HHJ Bird sitting as a High Court Judge). Advising on technical issues arising following a pre-pack sale of 40,000 individual voluntary arrangements.

2 Lisa brings a wealth of experience in advising and representing a diverse range of stakeholders (insolvency practitioners, creditors, directors and Government departments, having been Junior Counsel to the Crown for 18 years) in all aspects of corporate and personal insolvencies including: Administrations Liquidations Bankruptcy Directors disqualification Public interest winding up petitions Voluntary arrangements Wrongful and fraudulent trading Misfeasance and directors duties generally Preferences Transactions at an undervalue Real property and trust issues in an insolvency context Cross-border insolvency LPA Receiverships and other security enforcement She is a fellow of R3 and full member of the Insolvency Lawyers Association. In 2015 she was appointed as a member of the prestigious expert advisory group on a project on Security Rights & the European Insolvency Regulation, partnership between the University of Leeds and other leading universities in Italy, Germany, Spain and Hungary.

3 Recommendations DIRECTORIES Lisa is extremely methodical, she goes through everything in great detail. She really gets to the nub of every issue. She s a very good advocate as well as being approachable. She puts clients at ease and is good at speaking to people. Chambers and Partners 2018 She puts clients at ease and gains their confidence. Legal An experienced junior frequently instructed in the full range of personal and corporate insolvency cases Chambers and Partners 2017 She is extremely commercial and practical, and has a good rapport with clients. Lisa Linklater is an experienced Chancery practitioner with extensive expertise in corporate, civil fraud and insolvency cases. Legal Experienced advocate with a broad client base... She s very good and very thorough - you never feel like she s going into something unprepared. Chambers and Partners 2016 TESTIMONIALS Thank you for your focussed and effective advocacy Government lawyer, 2018 Thank you to both Counsel for your excellent submissions Lord Justice of Appeal, 2017 I could not have asked for a better legal team than [solicitor s firm] and Lisa Linklater client following mediation, 2017 This was a fantastic result Managing director and commercial dispute resolution solicitor, 2016 Your expert presentation of the case to the court was exceptional Partner and head of Commercial Dispute Resolution Department following trial in 2016 Thank you for your succinct and very helpful skeleton argument, specialist s9 judge, sitting as a High Court Judge, in judgment in 2016

4 Cases CORPORATE INSOLVENCY LITIGATION Lisa is frequently instructed as Counsel in multi-day High Court trials in the Insolvency and Companies Court. She has a very strong practice in directors duties, built from extensive experience and repeat instructions in this area both in relation to solvent and insolvent companies. She has considerable depth of experience in directors disqualification claims, having been Junior Counsel to the Crown for 18 years. Successfully represented and advised Defendants to serious claims of knowing assistance, knowing receipt and related tracing claims brought by a company registered in Gibraltar, acting by its liquidators on a conditional fee agreement. Lisa succeeded in obtaining a settlement for her clients of under 50% of the 1.4 million claimed for liability and costs at the start of a 4 day trial before HHJ Bird sitting as a High Court Judge (2017) (High Court, Manchester). Currently acting for directors in threatened proceedings by liquidators in respect of alleged unlawful dividends, preference and transaction at an undervalue claims of just under 1 million. Lisa is also currently instructed by the liquidators of a different company in a similar claim against directors (2018). Acting for liquidator on misfeasance claims against alleged de facto director for breaches of directors duties and related claims for preferences and transactions at an undervalue (2018) (High Court, Manchester). Acted for the Secretary of State for Business, Energy and Industrial Strategy in a claim for the disqualification of a director, alleged to have fraudulently obtained a substantial grant from public funds. 11 year undertaking given and accepted (2017) (Middlesbrough). Advised liquidators of estate agency company on claims against directors for breaches of their directors duties and related claims for transaction at an undervalue and preferences. Claim settled with a recovery of 150,000 for the liquidation estate (2016). Secretary of State for Business, Innovation & Skills v Khan & Warry [2014] EWHC 1381 (Ch) (HHJ Hodge QC sitting as a High Court Judge, Manchester District Registry) Lisa successfully acted for the Secretary of State for Business, Innovation and Skills in obtaining the disqualification of both a managing and other director of companies which had been involved in an intricate MTIC VAT fraud, involving complex facts. The case is now a leading case on the appropriate period of disqualification in respect of directors of companies involved in such frauds. Successfully acted for two directors in defending claims by liquidator of a formerly

5 renowned Leeds Italian restaurant that the directors had breached their duties as directors by allowing co-director to take money from the company on grounds that they had acted honestly and reasonably (2013). APPLICATIONS Lisa continues to be first choice Counsel for many leading firms on technical and often unusual issues arising in liquidations and administrations and consequent court applications, as well as contested administration applications and winding up petitions. Re Graico Property Co Ltd (in administration) [2017] BCC 15 (Norris J) (Leeds District Registry) Acted for administrators on a precedent case on the scope of the court s powers when ending administration. Lisa acted in the high-profile contested administration application in respect of VE Interactive Ltd before HHJ Raeside QC sitting as a High Court Judge. The hearing was reported in the Financial Times and other business press and is connected with the case of Re Ve Interactive Ltd (in administration); Ve Vegas Investors IV LLC and others v Shinners and others [2018] EWHC 186 (Ch) Advising administrators on issues arising following sale of 40,000 individual voluntary arrangements (2017). Advising and assisting liquidators of a company that had supplied luxury coaches in obtaining substantial recoveries in claims under section 127 of the Insolvency Act 1986 (voidable transactions) ( ). Represented the liquidator of a property holding company, associated with a members club affiliated with a political party, in novel application for directions raising numerous precedent issues. Orders made for inquiries for missing members and distribution on a certain footing (by analogy with a Benjamin order in trusts law) (2016) (HHJ Kaye QC sitting as a High Court Judge) (Leeds District Registry) Represented the liquidator of an industrial and provident society (associated with a political party) in application for directions raising unique issues on the Industrial and Provident Societies legislation and the construction of the society s articles (2015) (HHJ Behrens sitting as a High Court Judge) (Leeds District Registry). Advised stakeholders in the Insolvency Rules on consultation on the amendment of the Insolvency Rules (2011). Lisa acted for the owner of Valley Parade in respect of issues arising from the Company Voluntary Arrangement of Bradford City Football Club over a decade ago.

6 PERSONAL INSOLVENCY Lisa regularly undertakes County Court litigation in relation to bankrupts, particularly those of previously high net worth and where precedent issues are involved. Lisa acted for the bankrupt in a precedent claim following the case of Horton v Henry [2016] EWCA Civ 989 against a trustee in bankruptcy to recover pensions drawn down by the trustee in bankruptcy (2017). Advising trustee in bankruptcy in relation to alleged sham trust of property worth over 1 million (2017). Represented a German bank in bankruptcy tourism case involving issues relating to the centre of main interests of the debtor, a Turkish national who had borrowed significant amounts from Lisa s client to develop property in Germany (2016) (Liverpool). Lisa successfully acted for an Irish national, made bankrupt in England, on a unique application under s281(5) Insolvency Act 1986 for an order to release him from liability under a court order in Ireland to pay damages for negligence for personal injury (2016) (Leeds). Successfully represented a former multi-millionaire, who had been made bankrupt following his participation in an aggressive tax scheme that was successfully challenged by HM Revenue and Customs, in opposing an application by his trustee in bankruptcy to suspend his discharge from bankruptcy on grounds of alleged failure to cooperate (2015) (Leeds). Lisa successfully advised and represented a trustee in bankruptcy of a bankrupt shareholder, ordered to purchase shares following an unfair prejudice petition, in realising his shareholding for the benefit of his creditors. The case involved many precedent issues (2014) (Leeds). Reid v Doran: Successfully obtain an indefinite suspension of discharge of bankruptcy of a property developer, based in Ireland, with affairs crossing multiple jurisdictions. Instructed by insolvency practitioner in a national accountancy firm Gittins v Serco Home Affairs (HHJ Behrens sitting as a High Court judge, Leeds District Registry) [2012] BPIR 560 Whether or not debtor was entitled to petition for own bankruptcy and consequently whether bankruptcy order should be annulled. Instructed by creditor. Pettit v Novacovic [2007] BCC 462 (Norris J)(Birmingham District Registry) Succeeded on behalf of trustee in bankruptcy in obtaining payment from agent (bankrupt s accountant) who had received monies from bankrupt after bankruptcy. Hollicourt (Contracts) Ltd v Bank of Ireland was distinguished. Re Johnson [2006] BPIR 987 (HHJ Kaye QC) (Leeds) Represented Official Receiver in

7 precedent case on application by discharged bankrupt for an annulment of his bankruptcy. COMMERCIAL LITIGATION IN AN INSOLVENCY CONTEXT Lisa is a popular choice for wider commercial litigation in an insolvency context, for instance involving purchasers of businesses or those in occupation of premises or property which an administrator or liquidator is seeking to recover. Representing company that bought a pharmaceutical business from a company in administration in claims brought by the administrators that the terms of the business sale agreement have been breached (2017) (High Court, Manchester). Successfully obtained dismissal of application for injunctive relief on behalf of business selling bedroom furniture for children and subsequent settlement of claim. The Claimant, a major manufacturer of bed products, had purchased a portfolio of properties from administrators in a fire sale. The claim centred on allegations of civil fraud by the Defendant in respect of a lease relied upon by the Defendant and whether or not the Defendant had an overriding interest in that property. The case was listed for trial in the Chancery Division for six days (2016) (HHJ Behrens sitting as a High Court Judge, Leeds District Registry). Close Asset Finance Limited v B & ors: Defended application for repossession of specialist machinery, used to make medical milk for export pursuant to licence, and subject to hire purchase agreements, brought by finance house. The first hearing of the application settled, preserving use of machinery for client during administration (2015) (HHJ Kaye QC sitting as a High Court Judge, Leeds District Registry). M v Focus (DIY) Limited: Acted for creditor company claiming goods in excess of 1m subject to retention of title clause from retail company in administration in successfully obtaining large settlement. Lisa acted for a creditor in similar circumstances in the administration of Courts plc. REAL PROPERTY AND TRUSTS IN AN INSOLVENCY CONTEXT Having practised in real property and trusts for over 20 years, Lisa is adept at handling real property and trusts issues in an insolvency context. Representing a purchaser of a pharmaceutical business in claim brought by landlord of property previously occupied by the business (now in administration) for dilapidations and unpaid rent. Landlord is relying upon Jervis v Pillar Denton Ltd for priority over other creditors (2017) (High Court, Manchester) Advised liquidator in claim by a charity that had awarded a grant to the company that the funds paid were held on Quistclose trusts (2016).

8 Firstpoint Security Trustee Ltd v Enterprise House Development Ltd & ors: Acted for Law of Property Act receivers, appointed by first charge-holder over a former hotel in the Midlands, in defending injunction proceedings brought by second charge holder. Obtained payment from second charge holder (a company incorporated in the British Virgin Islands) to cover certain costs and expenses in the LPA receivership. Successfully obtained settlement of claim (2014)(HHJ Bird sitting as a High Court Judge, Manchester District Registry). Assisted trustee in bankruptcy in establishing a proprietary interest in the estate of former spouse of the bankrupt, based on the terms of an ancillary relief consent order, extending previous case law. The case settled following draft proceedings, with the debts and expenses of the bankruptcy estate being cleared entirely (2013). PUBLIC INTEREST WINDING UP PETITIONS Lisa has considerable experience in public interest winding up petitions, often involving commercial fraud, having acted as Junior Counsel to the Crown for 18 years. Currently acting for the Secretary of State for Business, Energy and Industrial Strategy in relation to public interest winding up petitions relating to a company that has acted as the trustee of pension funds of over 4 million (2018) (High Court, London). Lisa successfully acted for the Secretary of State for Business, Energy and Industrial Strategy in obtaining the winding up in the public interest of companies that had defrauded members of the public who had understood that the companies would engage in trading in binary options on their behalf Directional Solutions Ltd & ors (2017) (High Court, London). Successfully obtained orders winding up two companies registered in South and Central America in the public interest. The companies were alleged to be operating in the United Kingdom with a lack of commercial probity (2015)(High Court, London) Represented the Official Receiver in his own capacity and as liquidator in the insolvency and criminal courts in obtaining delivery up of documents, held by a third party, which applied further to section 59(5)(b) of the Criminal Justice and Police Act 2001 to retain documents, following a declaration that the seizure of documents was unlawful (2015) (HHJ Cooke acting as High Court Judge, Birmingham District Registry and HHJ Laird QC at Birmingham Crown Court) Acted for the Secretary of State for Business, Innovation and Skills in provisional liquidator application and public interest winding up petition in connection with winding up of business alleged to be trading illegally, without appropriate licences for hire of private hire vehicles and public service vehicles [2014] EWHC 2432 (Ch) (HHJ Pelling QC sitting as a High Court Judge, Manchester District Registry).

9 Publications Member of the editorial board of The Company Lawyer (Sweet & Maxwell) from , regularly contributing editorials on company, finance and insolvency topics. Co-author of Rider, Alexander, Linklater & Bazley: Market Abuse and Insider Dealing (2nd ed, Tottel Publishing). Latterly member of the editorial advisory board of The Company Lawyer (Sweet & Maxwell). Beyond the Bar Lisa enjoys spending time with her family, particularly cycling, walking and exploring different parts of the UK coastline and countryside. She also enjoys socialising with friends, as well as following current affairs, listening to music and live entertainment (theatre and opera). Lisa is fluent (conversational) in French and German.

David Chivers QC. Call: 1983 Silk: 2002

David Chivers QC. Call: 1983 Silk: 2002 Call: 1983 Silk: 2002 David is a highly experienced, sought-after Silk who specialises in company law, corporate litigation, financial services and corporate restructuring/insolvency onshore, offshore