Segun Osuntokun
Managing Partner London
T: +44 (0) 20 3400 4619
M: +44 (0)7515 919814
E: segun.osuntokun@bclplaw.com
- 22+ years' litigation and arbitration experience and expertise across a range of sectors with a particular focus on banking and financial services.
- Specialises in resolving complex disputes and claims which have elements of dishonesty, fraud or corruption
- Head of the firm’s Africa Group and many of his cases relate to or originate from jurisdictions in sub-Saharan Africa.
- Head of the firm’s Energy Disputes practice with particular focus on oil and gas and power sectors.
- Has taken six cases to a full trial or substantive hearing on the merits and has obtained a successful outcome in all of them.
- Has applied for or defended applications for emergency injunctions and disclosure orders in English High Court on more than ten occasions.
- Clients include the African Development Bank and the Central Bank of Nigeria.
- Recognised by Chambers and Legal 500 as a ‘leading individual’ for banking litigation and civil fraud, as well as a ‘foreign expert’ on Nigerian disputes.
Representative Experience
- Central Bank of Nigeria - Acting for the Central Bank of Nigeria in its defence of a claim valued at over £1bn against it brought by a Nigerian citizen in the High Court in England. The claimant alleges that he was the victim of a “sting” operation by the Nigerian state security services and the Central Bank which caused him financial loss. Following an appeal by the CBN, the Supreme Court of England and Wales in a landmark judgment, disallowed part of the claimant’s case and thereby clarified the law surrounding civil fraud claims made against alleged accessories.
- Federal Government of Nigeria - Acted for the Federal Government of Nigeria in a claim against the estate of the late General Sani Abacha to recover the proceeds of a US$750m fraudulent debt buy back scheme. Worldwide freezing and disclosure orders in support of the claim were obtained in respect of the defendant's assets. After a trial in the English Commercial Court lasting six months, the government was awarded judgment in the sum of DM300m. The judgment sum was eventually paid by the defendants.
- High-net-worth families - Acted for members of a high-net-worth family in a dispute over the ownership of a multi-million pound property portfolio which was managed by another member of the family. The ownership of the portfolio was awarded to our clients by a jointly-appointed expert. The award was challenge by the other side on the grounds of bias and collusion. These allegations were dismissed by a High Court Judge and the expert’s award was confirmed.
- Multinationals - Acted for Vee Networks (now part Airtel Nigeria), a major Nigerian GSM telecommunications company in London-seat, multimillion dollar arbitrations and ancillary English High Court actions . The disputes arose out of various agreements between Vee Networks and Econet Wireless International, a South Africa-based telecoms company and its subsidiaries.
- African Development Bank - Acted for the African Development Bank multi-million dollar claim against the liquidators of BCCI (Overseas) Limited. It arose out of the decision of the liquidators to reject the bank’s claim in the liquidation. Proceedings were commenced in the Cayman Islands to reverse the liquidators’ decision and the bank subsequently made a full recovery of its claim.
- Almost US$1 bn in favour of the bank - Acted for one of Nigeria’s largest banks in a claim brought to the English High Court against its former managing director. It was alleged that the defendant had misappropriated the bank’s assets and orchestrated an unlawful share price-rigging scheme. It resulted in a final judgment of almost US$1bn in favour of the bank.
