The dealmaker, the bank and the missing skyscraper series returns - Credit Suisse hires one of London's top QCs as defence barrister ahead of trial

Friday, 3 February 2017, 3:15 pm

Remember the tale little old Betaville broke a couple of years ago about how investors are chasing Thomas Ryan, a mystery Irish property developer, and (ex) Credit Suisse private banker Hans-Olav Eldring in the commercial courts in London after the pair of scallywags concocted a scheme to build a £1 billion residential tower in Canary Wharf that eventually vanished into thin air?

In case you don't here are links to the original Financial Times piece, Betaville's stories and a follow up to my pieces in The Guardian newspaper:

https://www.ft.com/content/122d3106-4d3e-11e3-9f40-00144feabdc0

http://betaville123.blogspot.co.uk/2014/05/the-dealmaker-bank-and-missing.html?m=1

https://www.betaville.co.uk/news/the-dealmaker-the-bank-and-the-missing-skyscraper-part-3/

https://www.theguardian.com/business/2014/jun/09/credit-suisse-faces-possible-legal-action-over-failed-london-tower-deal

Well, I have fresh news: it has emerged Credit Suisse, which is facing the brunt of the claim because Hans-Olav Eldring worked there, has hired uber barrister Richard Handyside QC as the case moves towards a formal pre-trial review later this year.

Handyside, who works out of Fountain Court chambers, is one of the top barristers in Britain who has been defending several British banks in the commercial courts from some rather large claims over Libor manipulation and interest rate swaps.

Indeed, he recently worked for Royal Bank of Scotland and helped the bank win its case against a £30 million claim from Property Alliance Group, the Manchester-based developer.

Handyside is also representing Lloyds Banking Group in its defence of a Libor manipulation case brought by Wingate Associates, a care home group. The Wingate claim is particularly interesting because if Lloyds loses the case it could lead to thousands of interest rate swap settlements being ripped up and many more claims against the banks.

So, it would appear Handyside really has got his hands full!

Credit Suisse declined to comment...

[Disclaimer - the information on Betaville does not consitute any form of investment recommendation and is not intended to be relied upon by readers in making, or refraining from, any investment decisions].

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