Masoud is Head of the Finance & Banking Group. He focuses on retail and investment disputes and regulatory matters.

In as far as retail banking is concerned, Masoud’s practice has centred on developing strategies for clients to deal with mass consumer mobilisation over bank and default charges, PPI claims and the enforceability of consumer credit agreements. He is an expert on payment systems and also advises on substantial data compromise matters and ensuing investigations.

In the field of investment banking he is a "go to" authority on disputes arising from complex investment products and funds, and also advises in trade finance disputes. Masoud represents financial sponsors and creditors and debt and equity investors on a range of disputes and restructurings involving corporate and property acquisition finance.

Legal 500 has praised Masoud for his activity in the field of retail banking litigation and in particular for being a "retail banking fraud specialist". He is a regular contributor to the legal press and was the only lawyer to address the BBA's Sixth Annual Financial Crime Conference. A member of the International Bar Association and the Fraud Advisory Panel, he joined the Firm as a Partner in 2007.

Key Experience

Successfully represented BAIN CAPITAL and the IDEAL STANDARD GROUP in declaratory proceedings relating to the powers of Majority Lenders, alleged events of default and the types of financial transaction that qualify as Equity Cures under a Senior Facilities Agreement. Bain Capital sponsored the acquisition of Ideal Standard for US$2 billion. (Strategic Value Master Fund Ltd v. Ideal Standard International Acquisition SARL & Ors [2011] EWHC 171 (Ch)).

Advising OJSC URALSIB BANK in High Court proceedings involving rights attaching to US$100 million in loan participation notes. The bank will argue that resolutions proposed and passed by the majority noteholders affecting rights in the notes amounted to a fraud against the minority noteholders. There is no English case law directly on point, and any judgment will create new law.

Successfully settled for CREDIT SUISSE TRUST a High Court claim against an international bank in respect of advice given for the acquisition of a US$45m property in Dubai.

Successfully advised AMERICAN EXPRESS in an appeal to the High Court relating to alleged minor technical defects in a default notice served pursuant s87(1) of the Consumer Credit Act 1974. The case is authority for the proposition that a minor technical defect relating to the service of a default notice does not prevent a lender from taking enforcement action where the borrower has not been prejudiced (American Express Services Europe Ltd -v- Ian Karl Robert Brandon [2010]).

Successfully represented AMERICAN EXPRESS BANK and STANDARD CHARTERED BANK in proceedings before the High Court and Court of Appeal in relation to a substantial demand guarantee dispute, which formed part of a US$130m contract for the supply of electricity in Bangladesh (Greenland Bank -v- AMEX [2008] EWCH 421 (CH) and [2009] EWCA Civ 14).

Following the fall out from the economic collapse of Iceland, Masoud advised a number of financial institutions and other parties in respect of various disputes. This included advising SCHNEIDER FOREIGN EXCHANGE in a €35m dispute with an Icelandic Bank in respect of forex swaps, and advising a major retailer in respect of the enforcement of a “repo” agreement following the administration of Kaupthing Singer & Friedlander.

Part of the team who advised the ALTHINGI (the Icelandic Parliament) and its Budget Committee on a variety of matters arising from the loan agreements entered into between the depositors and investors guarantee scheme of Iceland and the commissioners of her majesties treasury. This followed earlier advice in respect of potential disputes arising from the collapse of Iceland’s major banks and action taken against Icelandic banks in the UK.

Advised MIRAX GROUP HOLDING BV in relation to a dispute in Russia and the England over the terms of a US$300m facility agreement provided by an investment bank. The dispute centred on the transfer of the facility obligations to a new lender and the discrepancies arising out of the transfer.

Successfully represented AMERICAN EXPRESS in High Court proceedings between the Rankines and a series of financial institutions. The High Court judgment of HHJ Brown QC is authority for the proposition that issuing proceedings, threatening and / or actually reporting defaults to CRAs does not amount to "enforcement action" and does not therefore require an order from the Court pursuant to the Consumer Credit Act 1974. This judgment was considered by the High Court in Phillip McGuffick v RBS [2009] EWHC 2386 (Comm).

Career History

Articles and Publications

'Carey v HSBC & Associated Claims: Have We Seen the End of Consumer Credit Campaigns?’, British Bankers Association Newsletter - 28 February 2010

'The Big Bank Theory’, Accounting & Business Magazine - September 2008

'Striking the right balance between profitable growth and fraud risk management', British Bankers Association Newsletter - May 2008

'Landmark Bank Charges case’, Bankers’ Law – April 2008

'Payments Fraud', Bankers' Law – May 2007

'Fraud & Risk Management', British Bankers’ Association Newsletter – August 2006

'Why plans to stop identity theft not tough enough', Lexus Nexus Legal Updater – March 2005

'New Chip & PIN card fraud-proof issuers claim', Lexus Nexus Legal Updater – April 2004