Mark Whelan Partner, Head of Department

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Mark Whelan
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Expertise

Mark is a partner and Head of Dispute Resolution.  Mark is recommended for Commercial Litigation in The Legal 500. He specialises in substantial multi-jurisdictional disputes principally for clients in the financial services sector and also has particular expertise advising on complex insolvency matters. He regularly acts for brokers, hedge funds and insolvency practitioners.

"Memery Crystal LLP is predominantly known for energy disputes. Jane Marsden is recommended alongside ... Harvey Rands, who handles financial services cases; and Mark Whelan, who acts in financial products-related claims. "

The Legal 500 UK - 2016

In detail

Recent experience

  • Instructed by Marex Financial Limited, a leading commodities broker, to defend a claim for damages in excess of USD$32 million for breach of delivery and title obligations under a number of contracts for the sale of nickel, warehoused in Malaysia and the Republic of Korea. Marex has Part 20 claims against the warehouse and insurance underwriters.  This multi-party dispute is listed for a three week trial in the Commercial Court in 2019.
  • Instructed by Medsted Associates Limited, an offshore broker, in connection with a substantial claim against Canaccord Genuity Wealth (International) Limited arising from the trading of financial products and breach of an introducer agreement. Our client succeeded on liability before the Commercial Court in 2017 [2017] EWHC 1815 (Comm).  The judge’s decision to award nominal damages for reasons of public policy will be considered by the Court of Appeal in 2018.
  • Instructed by Marex Financial Limited in a substantial claim for damages arising from the violation of our client’s rights under a Commercial Court judgment handed down by Mr. Justice Field in 2013 [2013] EWHC 2155 (Comm). After the Defendant unsuccessfully challenged the jurisdiction of the English Court [2017] EWHC 918 (Comm), a single ground of appeal on reflective loss is to be heard by the Court of Appeal in 2018.
  • Instructed by KPMG as the special administrators of MF Global UK Limited in connection with a claim by an offshore broker for in excess of USD $10million. The dispute concerned a claim under an introducing broker agreement for a share in commissions earned by our client from Forex, Futures, Options and Contracts for Difference trading. The issue of liability was heard by the Commercial Court and on appeal before the Court of Appeal [2012] EWCA 1662 (CIV).  A subsequent quantum trial took place before the Commercial Court in 2015 with our client obtaining a favourable outcome.
  • Instructed by Marex Financial Limited in a substantial and complex Commercial Court claim against two BVI companies, Cosmorex Limited and Creative Finance Limited. The case concerned our client’s 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 our client’s favour after a 9 day trial with judgment in excess of USD $5million [2013] EWHC 2155 (Comm).
  • Instructed by Marex Financial Limited against a BVI liquidator in a case before the US Bankruptcy Court Southern District of New York. This high profile claim concerned Chapter 15 recognition of foreign proceedings. In 2016 the Judge dismissed the liquidator’s claim against our client and delivered a precedent ruling which is significant for the offshore financial community (2016, Case No 14-10358(REG)).
  • Instructed by a City broker in 2015 in connection with US Department of Justice proceedings against Navinder Sarao (“the Hound of Hounslow”). Mr. Sarao was accused of causing the “Flash Crash” on 6 May 2010 where USD$350 billion was wiped off the Dow Jones Industrial Average in the biggest intraday points fall in history.
  • Instructed by an Australian Forex broker, Go Markets Pty Limited, in connection with a claim before the Commercial Court by its liquidity provider following the announcement on 15 January 2015 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.
  • Instructed by the liquidator for an offshore hedge fund on a professional negligence claim arising from failed investments for damages in excess of USD$60 million ([2012] EWHC 1801 (Comm)).
  • Instructed by Grant Thornton LLP to advise in connection with a share loss relief scheme estimated to have resulted in losses in excess of £200 million.

Career history

  • Solicitor & Partner, Thomas Cooper LLP – 2008 to September 2015
  • Partner, Memery Crystal – October 2015 – Present

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