Call 2014
"Nick is a brilliant advocate. He is always on hand, ready to deliver and he has a commercial mindset."
Chambers and Partners
George Hack
Team Leader
+44 (0)207 842 3762
Click here to email
Jamie Thomas
Team Leader Assistant
+44 (0)20 3873 6851
Click here to email
Nick Daly specialises in commercial litigation and arbitration, with a particular focus on banking and finance, sports law, civil fraud, insurance and professional negligence.
Nick is an experienced advocate and has a busy unled practice, acting as sole counsel in the majority of his current cases. He also enjoys working as part of a larger counsel team. In recent years, he has acted both for and against large financial and other commercial institutions, private equity firms, insurers and policyholders, high net worth individuals, states and state-owned entities, and various sporting bodies, clubs and teams (across a range of sports including football, F1 and athletics).
Nick is ranked by the legal directories as a Leading Junior in six practice areas – Commercial Litigation, Banking & Finance, Civil Fraud, International Arbitration, Insurance and Reinsurance and Professional Negligence – and was nominated for International Arbitration Junior of the Year at The Legal 500 Awards in 2024.
Gerrard Enterprises LLC v Summer Parent S.à.r.l & Ors
Acting for the Defendants in multiple High Court proceedings relating to United Group, the leading telecommunications business in Southeastern Europe, including claims for injunctive and declaratory relief relating to the proposed sale of the Group (with Timothy Howe KC).
Foresti v Deutsche Bank AG & Ors
Claims by a former senior investment banker worth over £250 million against Deutsche Bank arising out of an alleged wide-ranging conspiracy and breaches of contractual and tortious duties (with Nico Leslie).
The Russian Aircraft Claims
Acting for insurers in claims arising from Russia’s invasion of Ukraine in early 2022 (with Akhil Shah KC and James Duffy KC). The claims were among the largest and most complex claims ever to be litigated before the Commercial Court (and were among The Lawyer’s ‘Top 20’ cases in 2024).
VTB Capital v Republic of Mozambique
Acting (with Timothy Howe KC and Rupert Allen KC) for VTB Capital in proceedings arising from the so-called “Tuna Bonds” controversy, involving over $2 billion of debt guaranteed by the Republic of Mozambique (one of The Lawyer’s ‘Top 20’ cases of 2023; [2024] EWHC 1957 (Comm)).
Selected other commercial and sports cases (unled)
Nick’s current instructions as sole counsel include:
Nick has been instructed on some of the largest banking cases in recent years and also has a busy unled banking practice, with particular expertise in claims involving fraudulent bank payments, the Payment Services Regulations, other regulations and card scheme rules, and fintech disputes.
Nick is ranked as a Leading Junior for banking and finance in both The Legal 500 (Band 2) and Chambers & Partners.
VTB Capital v Republic of Mozambique
Acting (with Timothy Howe KC and Rupert Allen KC) for VTB Capital in proceedings arising from the so-called “Tuna Bonds” controversy, involving over $2 billion of debt guaranteed by the Republic of Mozambique (one of The Lawyer’s ‘Top 20 Cases’ of 2023).
Foresti v Deutsche Bank AG & Ors
Acting (with Nico Leslie) for a former senior investment banker in claims worth over £250 million against Deutsche Bank relating to complex financial transactions in 2008 and their aftermath.
Confidential fintech dispute
Claims worth around US$3 million by a fintech company against a payment services provider in respect of wrongfully withheld payments (unled).
Confidential payment services dispute
Advising a leading global payment services provider (unled) on claims worth over US$4 million by a Singaporean company in respect of thousands of reversed transactions.
Luxor-Level Field LLC / Level Field Media Finance LLC v Newpoint Reinsurance Company Limited
Multiple claims worth over US$20 million under guarantees of film finance lending for two Hollywood films (unled).
ICBC Standard Bank plc & Ors v (1) The Republic of Sudan; (2) The Central Bank of Sudan
$1.5 billion claims brought by a number of banks and financial institutions against the Republic of Sudan and its Central Bank in respect of long-standing indebtedness under agreements dating back to the 1980s, including successful applications in respect of service of the proceedings involving issues of state immunity, service on process agents, and service out of the jurisdiction (with Stephen Moriarty KC).
ICBC Standard Bank plc v (1) Banco Nacional de Cuba; (2) The Republic of Cuba
£1 billion claims brought against Cuba and its Central Bank in respect of Cuba’s long-standing indebtedness to various banks and financial institutions (with Stephen Moriarty KC and Tamara Oppenheimer KC).
JB Drax Honore v Cimolai
Acting for Drax, a specialist derivatives broker, in claims relating to high value FX derivatives trades with an Italian construction company (with James Duffy KC).
LCIA arbitration for CIS bank
Acting for a major CIS bank in confidential LCIA arbitration proceedings against its former director and shareholder (with Richard Lissack KC).
LCIA arbitration for Ukrainian bank
Acting for the Claimant in confidential US$100 million LCIA arbitration proceedings arising out of a capital markets transaction used to perpetrate a large-scale fraud (with Simon Atrill KC).
Madison Pacific Trust Limited v PrivatBank
Acting for PrivatBank in LCIA arbitration proceedings worth over $400 million arising out of a fraudulent scheme relating to the issuance of notes in 2013, followed by High Court applications for directions relating to the Awards ([2020] EWHC 610 (Ch)) and challenges under s.67 and s.68 of the Arbitration Act 1996 (with Lord Wolfson KC and Simon Atrill KC).
Rowe & Ors v Ingenious Media Holdings Plc & Ors (The Ingenious Litigation)
Acting for UBS in claims worth over £200 million concerning advice given in relation to investments in the Ingenious film partnerships (with Richard Handyside KC and James Duffy KC). Listed in The Lawyer as one of the ‘Top 20 Cases’ of both 2018 and 2022.
FSCS v Firstplus & Ors
Defending a c.£15 million claim brought by the FSCS and several thousand consumers against Firstplus relating to the sale of PPI (with Timothy Dutton CBE KC and Simon Atrill KC).
National Bank Trust v Yurov & Ors
$850 million claim governed by Russian law relating to a large-scale banking fraud in Russia, including an application to set aside a freezing injunction (with Patrick Goodall KC and Simon Atrill KC).
Albinson, Batty, Riddle & Ors v Barclays Partner Finance
Acting for Barclays in multiple claims under the Consumer Credit Act 1974 arising out of alleged fraudulent mis-selling of timeshares (unled).
UBS v Infinidat Ltd
Acting for UBS in a $3 million claim arising out of an engagement letter to facilitate investments in an Israeli company (unled).
Claims in relation to fraudulent bank payments
Advising on and appearing in multiple claims (unled) arising from fraudulent bank payments, including push payment and spear phishing frauds. Recent cases have involved applications for Civil Restraint Orders, and appeals from the County Court to the High Court and from the High Court to the Court of Appeal.
Proceeds of Crime Act 2002/Money Laundering
Advising multiple banks on their obligations under Part 7 of the Proceeds of Crime Act 2002 (money laundering), including a claim for a substantial five figure sum by a customer of a challenger bank for the return of monies from a frozen account (unled).
Nick has appeared in some of the largest fraud cases to come before the English Courts in recent years, and also acts unled in complex fraud matters. His cases often involve jurisdiction issues and foreign law, and he has significant experience of obtaining, and resisting, worldwide freezing injunctions and other urgent relief.
Nick is ranked as a Leading Junior in Civil Fraud by Chambers & Partners.
The Public Institution for Social Security v Al-Rajaan & Ors
Acting (with Edward Cumming KC) for one of the Defendants in proceedings arising out of an alleged US$875 million fraud by the former head of the Kuwaiti state pension and social security fund (one of the largest fraud cases ever to be litigated in the Commercial Court).
Foresti v Deutsche Bank AG & Ors
Acting (with Nico Leslie) for a former senior investment banker in claims worth over £250 million against Deutsche Bank relating to complex financial transactions in 2008 and their aftermath, including allegations of dishonesty and a wide-ranging conspiracy.
VTB Capital v Republic of Mozambique
Acting (with Timothy Howe KC and Rupert Allen KC) for VTB Capital in proceedings arising from the so-called “Tuna Bonds” controversy, involving over $2 billion of debt guaranteed by the Republic of Mozambique and allegations of widespread bribery and corruption (one of The Lawyer’s ‘Top 20 Cases’ of 2023).
Confidential fraud dispute
Acting (unled) in fraud claims relating to the ownership of a football club.
Arani v Cordic Group Limited
Acting (with Paul Sinclair KC) for the successful Claimant in a £20 million claim for fraudulent breaches of warranty under an SPA for the sale of a technology business, tried over 10 days in December 2022 ([2023] EWHC 95 (Comm)).
Confidential fraud claims
Advising US pension plans on potential fraud claims against a broker (unled).
Madison Pacific Trust Limited v PrivatBank
Acting for PrivatBank in LCIA arbitration proceedings worth over $400 million arising out of a fraudulent scheme relating to the issuance of notes in 2013, followed by High Court applications for directions relating to the Awards ([2020] EWHC 610 (Ch)) and challenges under s.67 and s.68 of the Arbitration Act 1996 (with Lord Wolfson KC and Simon Atrill KC).
LCIA arbitration for Ukrainian bank
Acting (with Simon Atrill KC) for the Claimant in confidential US$100 million LCIA arbitration proceedings arising out of a capital markets transaction used to perpetrate a large-scale fraud.
National Bank Trust v Yurov & Ors
c.$850 million claim governed by Russian law arising out of an alleged large-scale banking fraud in Russia, including a substantial application to discharge a worldwide freezing order (with Patrick Goodall KC and Simon Atrill KC).
Albinson, Batty, Riddle & Ors v Barclays Partner Finance
Acting for Barclays in multiple claims brought against Barclays under the Consumer Credit Act 1974 arising out of alleged fraudulent mis-selling of timeshares (unled).
Claims in relation to fraudulent bank payments
Advising on and appearing in multiple claims (as sole counsel) arising from fraudulent bank payments, including push payment and spear phishing frauds. Recent cases have involved applications for Civil Restraint Orders and appeals from the County Court to the High Court, and from the High Court to the Court of Appeal.
Nick has a wide-ranging commercial litigation practice and has been instructed in several of the largest and most complex commercial cases to be litigated before the English Courts in recent years (including ‘Top 20’ cases in The Lawyer for each of 2018, 2020, 2022, 2023, 2024 and 2025). He has also appeared in multiple high value arbitrations in recent years both in England and internationally. He also has a busy unled commercial practice and is currently acting as sole counsel in multiple cases in the High Court.
Nick is ranked as a Leading Junior for Commercial Dispute Resolution in Chambers & Partners and for Commercial Litigation in The Legal 500.
Gerrard Enterprises LLC v Summer Parent S.à.r.l & Ors
Acting for the Defendants in multiple High Court proceedings relating to United Group, the leading telecommunications business in Southeastern Europe, including claims for injunctive and declaratory relief relating to the proposed sale of the Group (with Timothy Howe KC).
VTB Capital v Republic of Mozambique
Acting (with Timothy Howe KC and Rupert Allen KC) for VTB Capital in proceedings arising from the so-called “Tuna Bonds” controversy, involving over $2 billion of debt guaranteed by the Republic of Mozambique (one of The Lawyer’s ‘Top 20 Cases’ of 2023); [2024] EWHC 1957 (Comm)).
The Russian Aircraft Claims
Acting (with Akhil Shah KC and James Duffy KC) for insurers in claims arising from the Russia’s invasion of Ukraine in early 2022 (one of The Lawyer’s ‘Top 20 Cases’ of 2024).
The Public Institution for Social Security v Al-Rajaan & Ors
Acting (with Edward Cumming KC) for one of the Defendants in proceedings arising out of an alleged US$875 million fraud by the former head of the Kuwaiti state pension and social security fund.
Foresti v Deutsche Bank AG & Ors
Acting (with Nico Leslie) for a former senior investment banker in claims worth over £250 million against Deutsche Bank relating to complex financial transactions in 2008 and their aftermath, including an alleged conspiracy and breaches of contractual and tortious duties.
Rayner Personnel Limited v The Leaders Romans Group Limited
Acting (unled) for the defendant, a leading UK property service group, in claims for alleged unpaid commission by a property agent following the acquisition of an estate agency business.
Salaam v Federal Government of Nigeria & Ors
Acting (unled) for Nigeria and its Attorney General in claims relating to an alleged guarantee, including a jurisdiction challenge involving (inter alia) issues under the State Immunity Act 1978, limitation, and full and frank disclosure.
JD Classics Limited (in administration) v PwC
Acting for the Claimant in a £60 million audit negligence claim arising out of the alleged negligent audit of a company specializing in the sale and restoration of classic cars (with Anneliese Day KC).
Arani v Cordic Group Limited
Acting (with Paul Sinclair KC) for the successful Claimant in a £20 million claim for fraudulent breaches of warranty under an SPA for the sale of a technology business, tried over 10 days in December 2022 ([2023] EWHC 95 (Comm)).
LCIA arbitration in pharmaceuticals dispute
Acting for a leading pharmaceutical company in confidential arbitration proceedings relating to the aborted acquisition of a pharmaceutical product worth over £70 million (with Derrick Dale KC).
LCIA arbitrations in hotel chain dispute
Acting for one of the Respondents in two substantial LCIA arbitrations arising out of disputes between the former owners of a hotel business worth over £1 billion, including widespread allegations of unfair prejudice and damages claims for around £80 million (with Patrick Goodall KC).
Madison Pacific Trust Limited v PrivatBank
Acting for PrivatBank in LCIA arbitration proceedings worth over $400 million arising out of a fraudulent scheme relating to the issuance of notes in 2013, followed by High Court applications for directions relating to the Awards ([2020] EWHC 610 (Ch)) and challenges under s.67 and s.68 of the Arbitration Act 1996 (with Lord Wolfson KC and Simon Atrill KC).
Astor v Atalaya
Acting (with Stephen Moriarty KC and Alexander Milner KC) for the defendants in claims worth over €50 million under a Master Agreement relating to the sale of a Spanish mine (following judgments on, inter alia, the proper construction of the Master Agreement: [2017] EWHC 425 (Comm); [2018] EWCA Civ 2407).
Wells v Cathay Investments 2 Ltd
Acting for the successful defendants in a five-day speedy trial concerning whether the claimants were in material breach of their employment contracts and the enforceability of restrictive covenants ([2019] EWHC 2996 (QB)).
Gemini v (1) CBRE; (2) King Sturge
Acting for the claimant in a claim worth over £200 million arising out of the alleged negligent overvaluation of a £1.2 billion commercial property portfolio (with Mark Simpson KC, Nik Yeo and Nico Leslie).
Olive Bidco Ltd v Shenton
£15 million breach of warranty and misrepresentation claim by a private equity firm against two former directors of a clothing company (with John Taylor KC).
Nick acts both led and unled in complex insurance disputes, both for insurers and policyholders, and is ranked as a Leading Junior in Insurance and Reinsurance by The Legal 500 (Band 3) and Chambers & Partners.
Bermuda reinsurance arbitrations
Acting in multiple confidential Bermuda arbitrations involving claims worth over US$100 million relating to the insurance of medical risk in the US (with Anneliese Day KC).
The Russian Aircraft Claims
Acting (with Akhil Shah KC and James Duffy KC) for insurers in claims arising from the Russia’s invasion of Ukraine in early 2022 (one of The Lawyer’s ‘Top 20 Cases’ of 2024).
Confidential professional indemnity insurance dispute
Acting (unled) in claims under a professional indemnity insurance policy in respect of an allegedly defective manufacturing plant.
KX Re v Equitas
Acting (with Derrick Dale KC) in multi-million pound claims between an insurer and reinsurer relating to the proper construction of a Commutation Agreement.
FSCS v Firstplus & Ors
Defending a c.£15 million claim brought by the FSCS and several thousand consumers against Firstplus relating to the sale of PPI (with Timothy Dutton KC and Simon Atrill KC).
Nick has a busy arbitration practice, acting in numerous high value arbitrations in recent years in London and internationally, both led and unled.
He is recognised as one of the leading juniors at Fountain Court in this area by The Legal 500 (Band 2) and was nominated for International Arbitration Junior of the Year in 2024.
Bermuda reinsurance arbitrations
Acting in multiple confidential Bermuda arbitrations involving claims worth over US$100 million relating to the insurance of medical risk in the US (with Anneliese Day KC).
Confidential insurance arbitration
Acting (unled) in threatened LCIA arbitration proceedings under a professional indemnity insurance policy in respect of an allegedly defective manufacturing plant.
LCIA arbitration in pharmaceuticals dispute
Acting for a leading pharmaceutical company in confidential LCIA arbitration proceedings relating to the aborted acquisition of a pharmaceutical product worth over £70 million (with Derrick Dale KC).
Confidential fintech arbitration
Acting (unled) in threatened LCIA arbitration proceedings worth around US$3 million by a fintech company against a payment services provider in respect of wrongfully withheld payments.
LCIA arbitration for CIS bank
Acting for a major CIS bank in confidential LCIA arbitration proceedings against a former director and shareholder (with Richard Lissack KC).
LCIA arbitration for Ukrainian bank
Acting for the Claimant in confidential US$100 million LCIA arbitration proceedings arising out of a capital markets transaction used to perpetrate a large-scale fraud (with Simon Atrill KC).
LCIA arbitrations in hotel chain dispute
Acting (with Patrick Goodall KC) in two substantial LCIA arbitrations arising out of disputes between the former owners of a hotel business worth over £1 billion, including widespread allegations of unfair prejudice and damages claims for around £80 million.
Madison Pacific Trust Limited v PrivatBank
Acting for PrivatBank in LCIA arbitration proceedings worth over $400 million arising out of a fraudulent scheme relating to the issuance of notes in 2013 (with Lord Wolfson KC and Simon Atrill KC).
Nick has a diverse and busy professional negligence practice and is ranked as a Leading Junior for professional negligence disputes by The Legal 500 and Chambers & Partners. His recent experience includes cases involving banks, auditors and barristers.
JD Classics Limited (in administration) v PwC
Acting for the Claimant in a £60 million audit negligence claim arising out of the alleged negligent audit of a company specializing in the sale and restoration of classic cars (with Anneliese Day KC).
Rowe & Ors v Ingenious Media Holdings Plc & Ors
Acting for UBS in claims worth over £200 million arising out of advice given in relation to investments in the Ingenious film partnerships (with Richard Handyside KC and James Duffy KC). Listed in The Lawyer as one of the “Top 20 Cases” of 2018 and 2022.
Hugh James Involegal v Waite
Acting for a silk defending a negligence claim relating to the conduct of the PIP breast implant litigation (with Anneliese Day KC).
Brightside Group Ltd v Chase-Gardener
Multi-million pound dispute between a company and its former director in respect of alleged negligence and conflict of interest (with Bankim Thanki KC and James Duffy).
Gemini v (1) CBRE; (2) King Sturge
Claim worth over £200 million arising out of the alleged negligent overvaluation of a £1.2 billion commercial property portfolio (with Mark Simpson KC, Nik Yeo and Nico Leslie).
Nick is developing a growing Sports Law practice with a particular focus on commercial disputes and regulatory issues.
Formula 1 dispute
Advising an F1 team on a contractual dispute with a sponsor (with John Mehrzad KC).
Sponsorship dispute
Acting (unled) in a claim for breach of contract by a national sporting body against a sportswear manufacturer.
Football dispute
Acting (unled) in a dispute relating to the ownership of a football club.
Athletics dispute
Acting (unled) for a London athletics club and members of the club in claims brought by a former coach for breach of contract and defamation.
Regulatory advice for national football association
Advising a national football association on updating their rules and disciplinary procedures (with John Mehrzad KC).
Fountain Court’s Nick Daly has published an article in the Journal of…
16 Fountain Court members are instructed in three of The Lawyer’s ‘Top…
Season 4: Episode 5
This is the fifth episode in the fourth series of The Fountain…
George Hack
Team Leader
+44 (0)207 842 3762
Click here to email
Jamie Thomas
Team Leader Assistant
+44 (0)20 3873 6851
Click here to email
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