Ozannes is retained by Garnet Limited an investment vehicle for Tommy Suharto, the son of the former president of the Republic of Indonesia. Garnet's account with BNP Paribas in Guernsey was frozen as a reult of regulatory action in Guernsey. Garnet brought proceedings for breach of mandate against BNP Paribas which resulted in the intervention as a third party of the Government of Indonesia seeking to make proprietary claims over the Garnet's money. This has resulted in a series of hearings in Guernsey in which Garnet has defended and sought on a number of occasions to lift the freezing order. In July 2008, Garnet successfully argued that the Government of Indonesia should have a limited period in which to bring underlying claims in Indonesia, but matters are likely to return to the Court of Appeal at the end of 2008 or 2009.
Deal Partners: Robert Shepherd and Christopher Edwards
Acting for HSBC in proceedings involving a trust worth circa £100 million which is subject to a Guernsey restraint order, and where there are satelite proceedings in South Africa in relation to a tax bill against the trust exceeding £100 million, and where the principal beneficiary faces a similar bill and and in excess of 300 criminal charges. This is a very substantive matter and is allegedly the largest tax fraud in South African history. The gent in question is called Dave King.
Deal Partner: Robert Shepherd and Christopher Edwards
Acted for RBC in relation to US$15 million held by it where it was necessary to apply to the Court for guidance as to the true owner of the funds, and liasie with the FIS.
Deal Partner: Christopher Edwards
Acted for Generali in relation to a claim brought against it in excess of US$1 million by a trust the prinicipal beneficiary of whom is Fergus McCann, the former owner of Celtic.
Deal Partner: Jeremy Wessels and Christopher Edwards
Acted on the instructions of a German liquidator in relation to a claim in Guernsey worth approx £500k arising from a German insolvency.
Deal Partners: Jeremy Wessels, Christopher Edwards and Martin Jones (Senior Associate)
Acted for a Local (independant) trust company in relation to a claim against it alleging negligence worth approximately £400,000.
Deal Partner: Christopher Edwards
Acted for Lloyds in relation to an interpleader matter where the account in question held appoximately £1 million.
Deal Partner: Christopher Edwards
Acting for HSBC in respect of a claim made by a client that investment instructions had not be actioned. Very narrowly missed having the matter stuck out with the judge refering to the claim as seeming strange and having considerable sympathy for the Defendant's (HSBC) position. Likely to go to trial in 2009.
Deal Partner: Robert Shepherd and Jeremy Le Tissier (Associate)