Call 2014
"Nick is a brilliant advocate. He is always on hand, ready to deliver and he has a commercial mindset."
Chambers and Partners
Adam Collins
Team Leader
+44 (0)20 7842 3798
Click here to email
Alfie Sweeney
Team Leader Assistant
+44 (0)20 3873 6855
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Nick Daly is recognised as a leading commercial junior and has been instructed in several of the most high-profile and high-value commercial disputes in recent years.
Nick has a broad practice covering all aspects of commercial litigation and arbitration. He is ranked by the 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.
Nick is an experienced advocate and is regularly instructed both as sole counsel and as part of a larger team. In recent years, he has acted both for and against large financial and other commercial institutions, in claims against states and state-owned entities, and for private equity houses and high net worth individuals.
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 are 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).
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 Lawyer’s ‘Top 20’ cases of both 2020 and 2025).
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)).
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 arising out of an alleged wide-ranging conspiracy and breaches of contractual and tortious duties.
Bermuda reinsurance arbitrations
Acting (with Anneliese Day KC) in six separate, confidential Bermuda-seated arbitrations worth over $100 million relating to a large medical malpractice payout in the US.
Nick has substantial experience of banking and consumer credit disputes, often acting for banks and other financial institutions but also acting for claimants in such cases.
He has been instructed on some of the largest banking cases in recent years and has a busy unled banking practice, with particular expertise in claims relating to fraudulent bank payments.
Nick is ranked as a Leading Junior for banking disputes 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.
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.
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).
Madison Pacific Trust Limited v PrivatBank
Acting for PrivatBank in substantial LCIA arbitration proceedings worth over $400 million arising out of a fraudulent scheme relating to the issuance of notes in 2013, including 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 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).
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).
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 brought against Barclays 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 (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.
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 substantial experience in large-scale fraud disputes, including claims involving jurisdiction challenges, worldwide freezing injunctions and foreign law issues. He has appeared in some of the largest fraud cases to come before the English Courts in recent years.
Nick is ranked as a Leading Junior in Civil Fraud by both Chambers & Partners and The Legal 500.
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).
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)).
Madison Pacific Trust Limited v PrivatBank
Acting for PrivatBank in substantial LCIA arbitration proceedings worth over $400 million arising out of a fraudulent scheme relating to the issuance of notes in 2013, including 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.
Nick is ranked as a Leading Junior for Commercial Dispute Resolution in 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); [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.
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 substantial LCIA arbitration proceedings worth over $400 million arising out of a fraudulent scheme relating to the issuance of notes in 2013, including 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 has recently developed a substantial insurance practice, and is ranked as a Leading Junior in Insurance and Reinsurance by The Legal 500.
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).
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).
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 both in London and internationally.
He is ranked as a Leading Junior in International Arbitration 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).
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).
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 substantial 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).
In recent years, Nick has developed substantial experience in professional negligence disputes and is ranked as a Leading Junior in this area by The Legal 500.
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 and accepts instructions all aspects of Sports Law with a particular focus on commercial disputes.
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…
Adam Collins
Team Leader
+44 (0)20 7842 3798
Click here to email
Alfie Sweeney
Team Leader Assistant
+44 (0)20 3873 6855
Click here to email
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