Ram Lakshman

Civil fraud and asset recovery

Ram has acted in a number of high-profile civil fraud disputes. He has particular expertise in urgent injunction applications, including applications for worldwide freezing orders, proprietary injunctions and search orders. Feedback for Ram’s work in this area includes:

“Ram is a fantastic junior. He is very thorough in his analysis, his drafting is strong and in Court he is cool, calm and collected. Importantly, he is very approachable and has obtained some great results for our client”- Managing Associate at Mishcon de Reya

Ram’s recent work in this area includes:

• Acting, led by David Mumford KC and Watson Pringle, for one of the Defendants to the high-profile Magomedov litigation. The claim (which is based on an alleged conspiracy) seeks to recover approximately US$ 14 billion, and is believed to be amongst the biggest ever brought in the English Courts.
• Acting, led by Robert Anderson KC and Carmine Conte in Invenia Technical Computing Corporation and another v Hudson. Ram acts on behalf of the Claimants, a Canadian corporation and its English subsidiary, who are bringing civil fraud proceedings (seeking approximately £11.5 million) against its founder, former CEO and majority shareholder. Ram has appeared successfully as the sole advocate in a number of hearings in both the main High Court proceedings and ancillary proceedings in the ICC, including [2024] EWHC 1302 (Ch)  (described as a “landmark judgment”) and [2024] EWHC 1481 (KB).
• Acting, led by Paul McGrath KC and Ciaran Keller (and formerly led by Alan Gourgey KC) for the Defendant in Fishman v Mangazeev, a $18.3 million claim arising out of an alleged repudiatory breach of a loan agreement. The proceedings to date have involved a hotly contested on-notice application for a worldwide freezing order, which ultimately resulted in a narrower domestic freezing order being granted. Ram appeared as the advocate on the second day of the hearing, dealing with the form of order and costs.
• Acting, led by Andrew Mold KC in the matter of Core VCT Plc. Andrew and Ram acted for a group of investors in Venture Capital Trusts (VCTs), now in liquidation, in relation to substantial claims (in excess of £100 million) for breach of fiduciary duty against the former managers, directors and liquidators of the VCTs. The case has featured in the Times.

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Insolvency

Ram has a strong insolvency practice, both led and in his own right. He has particular expertise acting in complex corporate insolvencies with large numbers of creditors or shareholders, as well as dealing with matters where injunctive relief is required on an urgent basis. Feedback for Ram’s work in this area includes:

“He has a superior grasp of the technical issues, provides clear and concise advice in a timely fashion and has a calming bedside manner with clients. With these skills he is definitely a junior to watch, particularly in the field of restructuring & insolvency.” – Partner at CMS

Ram’s recent work in this area includes:

• Acting, led by Lexa Hilliard KC, in the matter of Raedex consortium limited. Lexa and Ram are acting on behalf of the joint administrators in this complex administration involving the intermingling of assets between group companies. Liabilities of approximately £50 million are owed to more than 800 retail creditors (some of whom may have claims to security or trust interests). Ram appeared as sole counsel on an application to extend the administration and successfully obtained a 3-year extension.
• Appearing, led by Jack Watson, in the matter of Louise Mary Brittain (as trustee in bankruptcy of Jonathan Ferster) v (1) Jonathan Ferster (a bankrupt) (2) Jonathan Seeds and (3) Evolution Software (UK) Ltd [2022] EWHC 1060 (Ch). Jack and Ram acted for the applicant trustee in bankruptcy and successfully obtained a suspension of the bankruptcy to its fifth anniversary as well as extensive orders for the disclosure of information and documentation.
• Acting, led by Graeme Halkerson, in Re: Henry Construction Projects Limited. Grame and Ram act on behalf of the administrators, who are bringing a claim for approximately £10 million. The claim alleges breaches of fiduciary duty (including the Sequana duty to creditors) as well as an entitlement to relief under ss238 and 423 of the Insolvency Act.
• Appearing as sole counsel in complex insolvency proceedings arising out of the service of five statutory demands claiming debts totaling nearly US$ 100 million. Ram successfully obtained an injunction restraining presentation of a winding up petition, and successfully resisted six interim applications brought by the Respondent.

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Pensions

A substantial proportion of Ram’s practice relates to actual or contemplated pensions disputes, including both advisory work and representation. Ram is currently involved in a complex compromise arising out of the potential invalidity of scheme documents across many decades. Feedback for Ram’s work in this area includes:

“Ram provides an excellent service in a client-friendly way“- Partner at Pinsent Masons

Recent work in this area includes:

• Acting, led by Jonathan Hilliard KC and Sebastian Allen, in relation to a complex and high-value pensions dispute involving the validity of benefit changes made to a pension scheme across a period of more than 20 years. The cost of the benefit changes being invalid would be in excess of £100 million.
• Advising on issues arising from the interrelationship between pensions law and insolvency, including the ability of creditors to enforce against a pension in bankruptcy.
• Advising in relation to the entitlement of the beneficiary of a Jersey trust to the payment of an annuity.

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Trusts, probate and estates: contentious

Ram has acted in a number of high-value and complex trusts cases, both led and his own right. He has acted or advised in cases in most of the major offshore jurisdictions. He also has a broad estates practice, including dealing with cases involving challenges to the validity of wills and complicated construction issues. Feedback for Ram’s work in this area includes:

“Ram is excellent. His advice is clear, thorough, and well-reasoned. He is on top of all the detail, proactive in progressing matters and a pleasure to work with.”- Partner at Charles Russell Speechlys

Recent work in this area includes:

• Acting, led by Jonathan Hilliard KC, Michael Ashdown and Joseph Steadman, on behalf Trustees bringing an application seeking the Court’s directions in relation to a number of significant matters concerning the administration of the trust. The issues affect the vast majority of the US$ 1 billion of assets held in the trust.
• Acting as junior counsel to Jonathan Hilliard KC advising trustees in relation to very high-value divorce proceedings (with the sums at stake being in excess of £100 million)  in which the wife was seeking orders for the trusts to be varied or otherwise treated as a matrimonial resource.
• Acting as sole counsel on behalf of a category of beneficiaries in High Court proceedings involving the construction of will trusts. The assets in issue are in excess of £1 million.
• Acting as sole counsel on behalf of an executor and beneficiary of an estate in High Court proceedings dealing with the question of whether certain Wills should be set aside for undue influence and/or lack of capacity. The matter is listed for a 3-day trial later this year.
• Acting as junior counsel to Jonathan Hilliard KC advising the defendants to a complex multi-jurisdictional estates dispute. The claimants were seeking to set aside a number of payments (worth approximately US$ 2.5 million) made by the deceased prior to her death on the grounds of undue influence, lack of capacity, and breach of fiduciary duty.

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