Paul Tracey

Partner, Dispute Resolution

Paul Tracey has practised in London, Jersey and Sydney and has worked in London and Jersey (as an advocate called in Jersey) for the past twenty years.

Paul specialises in domestic and international trusts disputes, commercial fraud and asset tracing and all aspects of company law including claims arising out of corporate insolvency, particularly in respect of recovery of corporate assets or losses from former directors and third parties.

He has extensive experience of claims concerning breaches of fiduciary duty including, particularly, breaches by directors or trustees; such claims frequently also involve allegations of fraud.

He also has particular expertise and substantial experience in the following areas of commercial dispute:

  • The negligent or careless investment of or dealing in trust assets;
  • Unfair prejudice petitions and just and equitable winding up;
  • Trustee indemnities and the technical and practical requirements in the retirement and appointment of new trustees;
  • Injunctions and other interlocutory applications both in England and offshore;
  • Insolvency claims in respect of transactions at an undervalue, transactions defrauding creditors and wrongful or insolvent trading.

He also has experience in commercial arbitration and is a Fellow of the Chartered Institute of Arbitrators. He accepts instructions to sit as an arbitrator in commercial and contractual disputes.

Some examples of his recent work are:
  • Defence to claim for trustee fees and indemnification by reason of breach of trust by a Jersey trustee;
  • Successfully prosecuted a derivative claim for breach of general and directors’ fiduciary duty and diversion of opportunity, together with related personal claims for assistance and receipt including successfully opposing application by a director for relief from liability arising from breaches of duty;
  • Acting for a claimant petroleum group in a multi-million pound fraud claim against a former director of an Afghan subsidiary in obtaining a world-wide freezing injunction, proprietary injunction and various ancillary orders including passport orders preventing and successfully defending the ex parte relief following a two-day discharge application with further unless orders in respect of asset disclosure (so forcing restitution of misappropriated assets);
  • Successful proceedings for a declaration that the client had validly rescinded a contract between it and the defendant, by which it had agreed to purchase a luxury flat on Marylebone Lane in London for a price of £6.3 million with consequent restitution of deposit together with interest and costs;
  • Counsel in Jersey for a two week trial in a claim by charitable beneficiary to dismantle overarching Jersey trust structure holding several hundred millions $US;
  • Expert opinion for claimant in Federal Court of Australia as to effective enforcement in Jersey of an Australian judgment in respect of $AUS15M Jersey trust by use of particular Jersey law and principle;
  • Acting for the replacement trustee in breach of trust claim in Jersey in excess of £100m;
  • Successfully acting for defendant director of holding company in a claim for €250 M loss arising out subsidiary’s alleged wrongful/ insolvent trading;
  • Successfully acting for defendants in £8M claim for misdirection of company assets/ transactions at an undervalue; and
  • Successfully prosecuting breach of trust by Jersey trustee for careless dealing with trust assets in an amount of £10M.

Paul has LL M degrees from each of the Queensland University of Technology, the University of Queensland and the University of London and has lectured in Equity and Trusts at the University of Sydney. He also holds Higher Rights of Audience.

He regularly speaks at seminars and conferences, particularly on aspects of  contentious trusts, and has presented in the past at STEP Asia and at STEP branches in Singapore, Hong Kong and Sydney.

In addition to being a Fellow of the Chartered Institute of Arbitrators, he is also a member of:

  • The Society of Trusts and Estates Practitioners (STEP);
  • The Chancery Bar Association;
  • The Association of Contentious Trusts and Estates Practitioners (ACTAPS);
  • R3; and
  • The Singapore Institute of Arbitrators.

DX LDE 493

+44 (0)20 7955 1416

07918 588 530