Commodities
Expanding international trade, particularly with countries in Asia and Africa, coupled with an ever diminishing distinction between trade and trade finance, has led to increased opportunity and risk in the global market place. With a deep knowledge of international trade and the risks that accompany it, our lawyers can help you navigate this rapidly changing environment.
Our experience ranges across a vast cross section of the commodities market including hard commodities such as minerals, ores and precious metals, soft commodities such as grains, oil seeds and sugar and energy based commodities such as oil & gas, wind and clean tech. Our clients include all participants in the commodities markets ranging from commodities houses to producers through to traders and banks.
Teacher Stern’s Corporate and Commercial teams advise on matters ranging from terms and conditions of trade, supply contracts, joint ventures, sale and purchase of assets and companies to listings on the stock exchange. Our Banking & Finance team advises across a wide spectrum of trade finance such as invoice discounting, factoring, letters of credit, performance guarantees and secured lending.
When disputes arise, as is an inevitable reality of international trade and the business relationships that underpin it, our Dispute Resolution team will be on hand to advise you. Our robust and commercially focused legal advice is always reflective of a deep understanding of the commodities sector and the constituent elements that comprise it. We have acted in a number of major disputes where commodity deals give rise to conflicts, multi-jurisdictional litigation and arbitration. We resolve disputes in many ways including by means of arbitration (often before Commodity Trade Tribunals under LME, Refined Sugar, COMEX, LMAA, ARIAS, GAFTA, LCIA, ICC, SIAC and VIAC Rules), court litigation and mediation.
Representative Experience
Examples of our commodities work include:
- Advised an international commodities company in connection with the purchase of a commodities business consisting of food, industrial & medical commodities.
- Advised a notable Russian commodity house in respect of a £20 million fraud predicated against it.
- Advised Canadian metals billionaire, Herbert Black, in connection with a successful USD $50 million action against London Metal Exchange brokers.
- Advised a well-known English commodities company in connection with a USD $15 million dispute with a supply company in Ghana.
- Advised an Asian primary metals producer in connection with the recovery of confiscated assets involving Bilateral Investment Treaty arbitration and Norwich Pharmacal proceedings in London.
- Advised a Fortune 1000 company in its arbitration proceedings relating to the development of a pharmaceutical manufacturing facility in the Middle East.
- Advised a Chinese based metals refiner in its LCIA arbitration proceedings relating to a claim made against it arising from its ore supply programme.
- Advised VIAC Eastern European Export Bank in connection with a performance guarantee claim made against it.
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Biography
A specialist in commercial litigation and arbitration including commodities litigation, Jack has developed significant expertise and an international reputation in large and complex cases. His client base includes both UK and foreign clients, where the issues traverse several jurisdictions. His considerable success in this area has led to a number of overseas companies and institutions, financial services organisations and banks seeking his help in commodities and other complex commercial issues.
In addition to mainstream litigation through the court system, Jack is highly experienced in alternative dispute resolution techniques (ADR) including arbitration and mediation. These techniques have proved particularly effective in disputes in specialist areas where overseas assets have to be retrieved.
He has also advised on the domestic law implications (including enforcement) of both UK and international arbitrations.
Jack also has a specialism in the field of Education.
Jack is listed as a recommended lawyer in the Legal 500 2021 rankings.
Year qualified
Solicitor, 1977
Representative Experience
Jack has:
- Advised a US client in relation to a commodities market manipulation.
- Advised a US client in respect of the market manipulation of LIBOR and EURIBOR.
- Advised an English client in relation to liability to an Icelandic Bank under a guarantee for over $400m.
- Advised an English client in relation to a multi-national arbitration relating to a disputed partnership over assets in Africa, Canada, the US, Israel and Europe relating to a claim in excess of $2bn.
- Advised a Cuban Bank in relation to the freezing of its assets in the UK pursuant to US Sanctions regime.
- Advised a middle Eastern client in relation to recoveries of monies paid by way of bribes and corruption.
- Advised a Russian client in respect of litigation in England, Russia, Cyprus, Latvia and the West Indies against his former partner.
Career History
Partner, Teacher Stern
Solicitor, Teacher Stern
Accolades
