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Stewart Hey, Partner

Stewart specialises in complex and high value international disputes (both in Court and Arbitral forums), usually involving allegations of fraud, dishonesty and corruption.

Stewart Hey, Partner

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Summary

Stewart (who heads the Charles Russell Speechlys Fraud Group) specialises in complex and high value international disputes (both in Court and Arbitral forums), usually involving allegations of fraud, dishonesty and corruption, with particular emphasis on Financial Services and Energy and Natural Resources. As the vast majority of Stewart's cases involve allegations of fraud, dishonesty and corruption, key legal issues arising include conflicts of law, interim (injunctive) remedies to prevent dissipation of assets and/or preservation of evidence, asset recovery and tracing, as well as contentious insolvency scenarios.

Stewart’s most recent cases include acting successfully for the liquidators of six defendant companies in the Cayman Islands’ longest-ever trial - 129 days - about one of the world’s largest-ever Ponzi schemes – US$330 billion. Stewart also led a team successfully acting for one of the world’s largest pharmaceutical wholesalers in relation to a complex high-value letter of credit fraud perpetrated on it by a fraudster, and which involved related proceedings in a number of jurisdictions in Europe, the Caribbean and the Pacific. He also has a great deal of experience in advising corporates in relation to product mis-selling within the financial services sector.

Stewart is admitted to practise in England and Wales and has limited admission in the Cayman Islands (in relation to the AHAB vs SAAD litigation). He is also a member of the Fraud Lawyers Association.

Experience highlights

  • Leading a team advising Joint Official Liquidators in connection with an alleged $9.2Bn fraud before the Cayman Courts
  • An external administrator to Awal Bank BSC (in Administration), as appointed by the Central Bank of Bahrain in a multi-billion dollar alleged fraudulent scheme of arrangement involving a large number of inter-related cases in various jurisdictions, where Stewart leads the teams dealing with US and Cayman issues
  • Advising individuals/entities in relation to an on-going SFO investigation into payments against a backdrop of multi-billion USD sales of defence equipment to the Middle East
  • Led a team advising the Central Bank of Bahrain that forged new US Bankruptcy Ch11 law in the US against a backdrop of acting as External Administrator to a Middle Eastern Bank (in administration) and currently under US Ch15 recognition
  • Advisor the joint-venture entities involved in a dispute relating to a West African mining project valued at between $800m-$1.5Bn
  • Advised one of the world's largest pharmaceutical wholesalers in a complex multi-jurisdictional letter of credit fraud
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