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Mark Whelan

Mark Whelan

Partner

Personal Profile

Mark is a Partner in the Finance and Banking Disputes team.

He specialises in substantial multi-jurisdictional disputes, regularly acting for clients in the financial services sector. Mark’s clients include brokers, banks, hedge funds and insolvency practitioners.

Mark is consistently ranked for Commercial Litigation in Legal 500.

Key Experience

  • Acted for Marex Financial in a substantial claim for damages against the director of companies, which owed judgment debts to Marex, for unlawful means conspiracy and for knowingly inducing and procuring the companies to act in wrongful violation of Marex’s legal rights. The Defendant unsuccessfully challenged the jurisdiction of the English Court. The Commercial Court decision was subsequently appealed to the Court of Appeal, with the case ultimately going to the Supreme Court. All seven justices of the Supreme Court ruled in favour of Marex Financial in a judgment described as “one of the most important company and commercial law decisions of the last thirty years”, overturning as it did the long standing approach to the “reflective loss” rule (The Times). Find more information about the case here and the judgment can be found here.
  • Acted for Marex Financial Limited in defending a claim for damages in excess of USD$32 million for breach of delivery and title obligations under contracts for the sale of nickel, warehoused in Malaysia and the Republic of Korea [2019] EWHC 2549 (Comm).
  • Acted for Medsted Associates Limited in a substantial claim arising from the trading of financial products and breach of an introducer agreement. Medsted succeeded on liability before the Commercial Court [2017] EWHC 1815 (Comm).  The judge’s decision to award nominal damages for reasons of public policy was unanimously overturned by the Court of Appeal [2019] EWCA 83 with quantum to be assessed.
  • Acted for insolvency practitioners in relation to a substantial Commercial Court claim against Barclays Bank regarding the application of the Quincecare duty.
  • Instructed to defend proceedings brought by a BVI liquidator in the US Bankruptcy Court Southern District of New York. This high-profile claim concerned Chapter 15 recognition of foreign proceedings. The Judge dismissed the liquidator’s claim and delivered a ruling significant for the offshore financial community (2016, Case No 14-10358(REG)).
  • Acted for an Australian Forex broker in a Commercial Court claim following the announcement by the Swiss National Bank that it would no longer hold the Swiss Franc at a fixed exchange rate with the Euro. That event caused a subsequent, and significant, shock to the foreign exchange markets.
  • Acted for KPMG as the special administrators of MF Global UK Limited in proceedings concerning a claim for trading commissions under an introducing broker agreement. The issue of liability was heard by the Commercial Court and on appeal by the Court of Appeal [2012] EWCA 1662 (CIV).
  • Acted for a London broker in a claim against two BVI companies, Cosmorex Limited and Creative Finance Limited. The case concerned the forced closure of USD$850 million of cross currency pairs following the unprecedented volatility in Yen after the Japanese earthquake and tsunami in 2011. The case was successfully resolved in the client’s favour after a 9 day trial [2013] EWHC 2155 (Comm).
  • Acted for the liquidator of an offshore hedge fund on a professional negligence claim seeking damages in excess of USD$60 million arising in connection with failed investments ([2012] EWHC 1801 (Comm)).

Career History

Partner, Mishcon de Reya LLP
Partner, Memery Crystal
Partner, Thomas Cooper LLP
Solicitor, Thomas Cooper LLP

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