"Savvy and commercial practitioner" John Stephens specialises in private client and commercial disputes, both on and offshore.  He is particularly known for his expertise and experience in the trust arena, dealing with:

  • disputes over beneficial interests and trusteeships in private family trusts;
  • commercial causes of action involving trusts where his in-depth knowledge of finance and financial analysis are particularly valued;
  • pensions (in which area he has been involved in some of the leading cases and has advised the government both directly and through many of its departments).

Clients value his "ability to easily undertake absolutely all engulfing cases”.  Described as "a fighter" and a "wise and creative thinker", he is "a performer who works like no-one else and dives right into the guts of a case...very involved and not at all pompous" with "wonderful commercial judgement" and "a nose for the winning angle" (Chambers & Partners).

He is regularly involved in cases in the Cayman Islands, Isle of Man, the Channel Islands, Switzerland and Gibraltar as well as in England & Wales.

Areas of experience

+ Commercial Litigation

John has very wide-ranging commercial dispute experience, particularly in relation to international cases involving multiple jurisdictions, complex facts and heavyweight financial analysis.  Long recommended by Chambers & Prs, his recent cases include:

  • Freeport, Bahamas: This hugely complex and high value shareholder dispute as to ownership of Freeport in the Bahamas is one of the largest cases ever to have been fought in the Bahamas.
  • Phillips v Symes: This multi-jurisdictional case has covered the Isle of Man, Jersey, Guernsey, USA, Greece, London, Geneva, Zurich, Gibraltar and Berlin.  Asset recovery has been a major issue. The main case and its offshoots have been to the House of Lords and the Privy Council, as well as several times to the Court of Appeal.
+ Company

Company and partnership issues are a common feature in the matters which John handles where his financial acumen and ability to grasp complex facts, often of a financial nature, are of particular assistance.  For example, in the last year he has worked on:

  • Freeport, Bahamas: a huge international dispute concerning ownership of Freeport in the Bahamas.
  • Phillips v Symes: a vast, multi-jurisdictional case concerning ownership of assets in an international antiquities partnership.  The main case and its offshoots have been to the House of Lords and the Privy Council, as well as several times to the Court of Appeal.
+ Pensions

Long recommended by the legal directories in this area, since 1985 John has practised very largely (at times almost exclusively) in the field of pension schemes and trusts (and associated professional negligence claims), most instructions since that date being either directly litigious or in anticipation of the possibility of litigation. John has been involved in a number of leading cases such as:

• National Power (in the House of Lords)
• Mettoy Pension Trust Limited –v Evans
• Coloroll (in the European Court of Justice)
• National Bus (acting for HM Government)
• Drexel Burnham Lambert

John has appeared before the ECJ in Luxembourg in respect of pensions matters on three occasions, twice instructed by the Treasury Solicitor on behalf of the UK. On a number of occasions John has advised major Departments of State (e.g. Dept. of Education as it then was, Department of Transport, as well as providing advice directly to the Government).

Recently he has been involved in the following matters:

  • advising on £200m + shortfall in a large industry-wide pension fund
  • acting in relation to millions of pounds collected by a trade union but not all used for the purpose collected
  • a matter now before the Pensions Ombudsman concerning trustees not paying a widow as it would affect them personally
  • a claim to set aside severance agreemeents and enhanced pensions payments
+ Trusts, Probate & Estates

John has long been recommended in Legal 500 and Chambers & Prs for his abilities in the private client arena.  He is consistently instructed in some of the largest, most complicated, high profile and contentious matters and regularly works for international as well as UK firms.  He has acted as both advocate and adviser in a very significant number of private trust cases, generally offshore (eg in the Cayman Islands, Isle of Man, Channel Islands and Switzerland).  His financial competence makes him a popular choice for such cases which often involve substantial sums and complicated accounting issues.

His recent experience includes:

  • Freeport, Bahamas: a massive shareholder dispute concerning ownership of Freeport in the Bahamas.
  • On-shore family trust dispute: This dispute occasioned probably the largest ever Beddoe application in 2008. 
  • Phillips v Symes:  a multi-jurisdictional asset recovery case following the death of a partner in an international antiquities partnership coverning the Isle of Man, Jersey, Guernsey, the USA, Greece, London, Geneva, Zurich and Berlin.  Currently John is seeking to recover monies from the Gibraltar branch of a major French bank.
  • Guernsey proceedings: John is advising beneficiaries who are seeking to recover many tens of millions of pounds from trustees in relation to their poor investment management and failure to diversify the trusts’ investments.
  • Breach of fiduciary duty: John is instructed in a Cayman Islands case matter where substantial losses are claimed from trustees who sold a ship without proper consideration of, for example, the timing of the sale.
  • Off-shore trust dispute: John is acting for a Guernsey trust with over US$200m in cash but also numerous European commercial interests, managed from Luxembourg.
  • On-shore family trust dispute: John is involved in complex problems arising from the untimely death of a beneficiary and the resulting revisions to the trusts’ tax planning
Full detail on selected areas will be included in the downloadable PDF.

Related news

XXIV has 11 members recommended in Citywealth Leaders List 2012
2 Mar 2012

Related legal updates

Gross negligence after Spread Trustee v Hutcheson
7 Jan 2012

Recommendations

Chambers & Partners/2012 recommends him for commercial Chancery and commercial litigation work as well as pensions. "Hard-working and conscientious", he is said to be singled out as "a strong strategic thinker with real tactical nous". He "has an instinctive feel for what will work and what will not".

Legal 500/2011 also recommends him for pensions work and private client. He is said to be: "a joy to work with; he is bright, hardworking and proactive".

Chambers Global/2011 recommends him for dispute resolution/commercial chancery.

He is also recommended in the  Citywealth Leaders List 2012 as a Prominent Trusts Barrister.

Academic history

Brasenose College, Oxford

Appointments

Chairman, Trustees of the Bar Council Pension Scheme

Professional memberships

Chancery Bar Association
International Bar Association
Association of Pension Lawyers

Business details

VAT number: 245040301
Registered name: John Lewis Stephens

Printed from the XXIV Old Buildings website at www.xxiv.co.uk. © 2012. All rights reserved.