Charlotte Eborall
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3 Verulam Buildings WC1R 5NT DX: LDE 331 Gray’s Inn, London. Telephone: +44(0)20 7831 8441 Barristers regulated by the Bar Standards Board Charlotte Eborall Email Address: [email protected] Year Of Call: 2004 Charlotte is an experienced commercial senior junior specialising in complex and high value litigation in the fields of banking, financial services, civil fraud and general commercial disputes. Described in the directories as “steeped in banking law” and “strong in banking and finance cases”, Charlotte has extensive experience of cases involving banks and other financial institutions. She is known for being “very personable” and “extremely client-friendly” with “a good eye for detail…who’s rated by banks as well as solicitors.” Charlotte is regularly instructed as sole counsel and is “tenacious in fighting for her client”, often appearing against silks. She “gets to grips well with cases quickly and efficiently” and is “really impressive and noted for her rigorous analysis of cases” her advisory work being described as “clear, measured and methodical” and “her written work output is excellent.” During 2019 and 2020, Charlotte was instructed in one of the leading banking litigation cases, PCP Capital Partners LLP v Barclays Bank plc, led by David Quest QC and working together with Jeffery Onions QC, Alex Polley and Oliver Butler of One Essex Court), on behalf of Barclays Bank, to defend the £1.6 billion claim for fraudulent misrepresentation alleged by Ms Staveley (the principal of PCP) concerning the bank’s capital raising during Autumn 2008 at the height of the financial crisis. Charlotte is currently acting in a number of her own commercial and banking cases (noted below). In addition to Charlotte’s extensive banking and commercial experience, after two secondments at the beginning of her career to the then Financial Services Authority, Charlotte “veryis knowledgeable on regulatory matters” and “very good for financial services disputes”, and regulatory work remains a key part of her practice. Charlotte was recently instructed on the first appeal against the first known refusal to sanction a Part VII insurance business transfer, Prudential and Rothesay (led by Barry Isaacs QC) and she is currently acting (unled) on behalf of the FCA in the Brexit-related Part VII insurance business transfer applied for by the Society of Lloyd’s on behalf of its Members in relation to its EEA business. Charlotte is also ranked separately for consumer law in the legal directories, which practice dovetails with her extensive banking expertise and regulatory experience. Her work in this area is described as “thorough, clear and concise” and she is regarded as “excellent to work with.” Her work includes advising and acting on behalf of clients in relation both contentious and non- contentious issues. Page 1 / 13 3 Verulam Buildings WC1R 5NT DX: LDE 331 Gray’s Inn, London. Telephone: +44(0)20 7831 8441 Barristers regulated by the Bar Standards Board In addition to the above, Charlotte’s own current and recent work includes: - Broomhead v National Westminster Bank and others [2020] EWHC 1005 (Ch) - acting on behalf of a bank to resist a claim that an earlier judgment dismissing a £17m claim made by a customer was tainted by fraud, and related recovery proceedings for a judgment debt of circa £1 million; - Lombard North Central plc v European SkyJets Limited and others [2020] EWHC 679 (QB) - appeal in relation to a first instance refusal to set aside a default judgment concerning the validity of a default notice; - acting on behalf of Clydesdale Bank plc in relation to claims concerning Tailored Business Loans, including a claim alleged to be over £26 million; - successful appeal in relation to a Hurstanger “secret commission” claim brought in relation to a PPI policy sale (potentially affecting an insurance book of over £70m); - Part 71 oral examination proceedings and related committal applications in relation to the recovery of a £9.5m judgment debt; - advised a consumer credit firm in relation to its proposed charging structures and CONC compliance; - advised a financial institution upon the transition from LIBOR to risk-free rates and the implications upon debt instruments and other financial products referencing that rate; - acted on behalf of an investment manager in respect of an alleged unauthorised share disposal; - Instructed by the FCA in relation to a conversion of a friendly society under the Friendly Societies Act 1992 and related schemes of arrangement under Part 26 of the Companies Act 2006; - advised a UK entity on the regulatory perimeter in respect of its proposed currency exchange and digital wallet service to be provided to UK and foreign customers, involving the use of distributed ledger technology and transfer (in part) in cryptocurrency. Directory Quotes “She’s incredibly conscientious and will go the extra mile for you to get things done.” Chambers & Partners UK 2016 “Very personable and steeped in banking law.” “She has lots of experience.” Chambers & Partners UK 2019 Page 2 / 13 3 Verulam Buildings WC1R 5NT DX: LDE 331 Gray’s Inn, London. Telephone: +44(0)20 7831 8441 Barristers regulated by the Bar Standards Board Expertise Banking & Finance Charlotte is regularly instructed on behalf of banks and other financial institutions in disputes arising out of financial instruments (e.g. derivatives and related products), mortgages, guarantees and other securities, fraud, undue influence, negligent advice, and equitable and restitutionary claims. She is described in the directories as “strong in banking and finance cases” and combines this expertise with “an excellent command of regulatory and consumer credit issues” when required. Clients note that she is “a good all-round performer who’s rated by banks as well as solicitors” and that she has “lots of experience” in this field. Former and recent instructions include: PCP Capital Partners LLP v Barclays Bank plc (2019) – instructed as part of the counsel team (led by Ewan McQuater QC) to assist with case preparation for this £1.5 billion fraudulent misrepresentation claim made by PCP against Barclays Bank plc arising out of the capital raising conducted by the bank during the 2008 financial crisis. Lombard North Central plc v European SkyJets Limited [2019] EWHC 2335 – successfully resisted an application to set aside default judgment in respect of an aircraft mortgage on which the customer had defaulted and the bank taken possession of, and sold, the aircraft. Appeal due to be heard in January 2020. Ward v Clydesdale Bank plc (2019) – instructed on behalf of the bank in relation to alleged breaches of statutory, tortious and contractual duties, and an unfair relationship claim, concerning the claimant partnership’s (at one time) £50m property business and their entry into swaps and tailored business loan (TBL) products with the defendant bank. R v E (2019) – advising a financial institution on the validity of a debenture concerning the application of section 44 Companies Act 2006. In the matter of (1) Santander UK PLC (2) Abbey National Treasury Services plc [2019] EWHC 111 (Ch) –solely instructed by Ernst & Young LLP on behalf of the Skilled Person, John Cole, to advise and appear as advocate in relation to Santander’s ring-fencing transfer scheme. Following the global financial crisis, the UK Government obliged UK banks holding more than £25bn of core deposits to have a fully-operational ring-fenced structure, to be effected, pursuant to the Financial Services (Banking Reform) Act 2013, by a ring-fencing transfer scheme. Santander, one of the Big Four retail banks, resolved to transfer its investment banking operations to its Spanish parent, leaving its retail banking business within the ring-fenced Santander UK plc. This transfer resulted in the combined transfer of over £40 billion of assets and liabilities to Banco Santander. Charlotte advised the Skilled Person on the form and content of his independent expert reports and appeared as sole advocate (Martin Moore QC acting on behalf of the bank and Rory Phillips QC acting on behalf of the Regulators) on behalf of the Skilled Person. During the two-day hearing, Charlotte’s oral submissions addressed: the consequences of transferring business to Spain and the potential impact of Brexit; financial strength and adverse effects by reference to the Skilled Person’s report such that Hildyard J was able to conclude that the scheme ought to be sanctioned. Page 3 / 13 3 Verulam Buildings WC1R 5NT DX: LDE 331 Gray’s Inn, London. Telephone: +44(0)20 7831 8441 Barristers regulated by the Bar Standards Board N (2019) - advising a building society upon the transition from LIBOR to risk-free rates and the implications upon debt instruments and other financial products referencing that rate. Broomhead v Royal Bank of Scotland[2018] EWHC 1574 (Ch) – instructed (initially, instructed alone, but instructed for the 10-day trial together with David Quest QC) to defend the bank in a £13m claim by a former business customer alleging breach of an oral collateral contract for automatic renewal of lending facilities. The claim also raised a section 140A CCA unfair relationship claim, limitation and insolvency set-off issues. Charlotte is now solely instructed in further litigation on the same matter concerning the recovery of the £1 million judgment debt owed to the bank. Various derivative product mis-selling and related claims – instructed on behalf of a number of banks to defend claims or potential claims arising out of derivatives entered into before and during the global financial crisis. Such cases raise issues concerning the scope of the duty of care; non-reliance and limitation of liability clauses; whether advisory duties were owed; limitation issues; and review claims. Charlotte has been involved in IRHP claims since early 2012 when she was instructed, as part of a Counsel team, to advise one of the big four banks in relation to its agreement with the FCA to review sales of IRHPs.