Ajay Ratan

Counsel for one of the Defendants in claims for approximately US$1.2 billion arising out of the breakdown in marital relations between a Russian couple and the death of one of the spouses (with Andrew Scott KC).

Claim in the BVI Commercial Court concerning a joint venture in relation to various power generation and distribution assets in Russia. The sum claimed is approximately US$1 billion. Ajay is junior counsel for the Defendants and for most of the Claimants by way of Counterclaim and Ancillary Claim (with Robert Weekes KC).

Acting for a bank in litigation concerning the lawfulness of interest rate variation provisions in standard variable rate mortgages (with Javan Herberg KC, Hanif Mussa KC and Emmeline Plews).

Commercial Court claim to restitution of allegedly overpaid income tax raising “interesting and potentially difficult issues” regarding the bona fide purchase defence to equitable proprietary claims (and analogous defences to personal claims in unjust enrichment). The reserved judgment of Cockerill J noted Ajay’s “highly skilful submissions” on behalf of HMRC.

Acted (with Barbara Dohmann QC and Barnaby Lowe) for the Second and Third Respondents to a Privy Council appeal from a decision of the Eastern Caribbean Court of Appeal. The appeal concerned issues regarding the creation of bare trusts, the distinction between bare trustees and nominees, and the ability to run an allegedly new case before a final appellate court.

Ajay was sole counsel for the respondent in this appeal concerning Part 36 offers (and in particular the principles governing enhanced relief under CPR r.36.17(4)).

Acting for Ofcom in four related Part 8 Claims, and appeals to the Court of Appeal, in respect of over £200 million in licence fees levied under regulations held to be ultra vires, concerning counterfactual defences to Woolwich claims in unjust enrichment. (with Tom Weisselberg KC and Andrew Trotter). Ajay did a substantial part of the oral advocacy both at trial and on appeal.

Successfully acted for the Claimant in this two-day Chancery Division trial before Mr Justice Marcus Smith (with Barbara Dohmann QC).

Successfully applied to strike out inadmissible expert evidence of New York and Ukrainian law in ongoing Chancery Division litigation (with Barbara Dohmann QC). 

Successfully obtained summary judgment on construction of a jurisdiction and choice of law clause in a contractual dispute over financial services. 

Acting for the claimant in a dispute stretching across several jurisdictions regarding a corporate reorganisation (with Barbara Dohmann QC). Successfully resisted the defendant's proposed amendments on estoppel and abuse of process grounds. 

Successfully resisted jurisdiction challenge raising novel points regarding the new ‘third country’ provisions in Articles 33-34 of the Brussels (Recast) Regulation (with Barbara Dohmann QC). 

Acting for the FCA in proceedings against Carillion plc and three of its former directors in relation to allegations of market manipulation (with Javan Herberg KC and Rayan Fakhoury). Further information available here.

Acting for the FCA in proceedings against Metro Bank and two of its former executive directors in relation to alleged breaches of the Listing Rules by publishing incorrect information to investors. Further information available here.

Acting for the FCA in respect of a challenge by hedge fund to a penalty and redress requirement imposed on the basis of an alleged failure to manage a conflict of interest fairly (with Andrew George KC and Ava Mayer). Further information available here.

Acting for a bank in litigation concerning the lawfulness of interest rate variation provisions in standard variable rate mortgages (with Javan Herberg KC, Hanif Mussa KC and Emmeline Plews)

Ajay successfully acted for a former senior manager of HBOS in defending the regulatory enforcement proceedings brought by the PRA and FCA. Following a six-year investigation, the regulators’ decision-making committees decided to take no action in August 2022. The FCA’s press release is available here. Ajay was led by Tom Weisselberg KC.

Acted for the FCA in respect of this application to the Administrative Court seeking a stay of FCA enforcement action in light of parallel Commercial Court proceedings (with Monica Carss-Frisk KC).

The Financial Conduct Authority (FCA) imposed a financial penalty on Interactive Brokers (UK) in the amount of £1,049,412 for failings in its post-trade systems and controls for identifying and reporting suspicious transactions. Ajay acted for FCA Enforcement and presented the case to the Regulatory Decisions Committee. 

Acted for the FCA in successfully defending a judicial review challenge to the new deadline for bringing complaints about payment protection insurance (with Monica Carss-Frisk QC and Iain Steele). The claim raised a number of issues including as to the effect of the ADR Directive. 

Acted for the claimants in this judicial review challenge to the issuing of a warning notice under the Pensions Act 2004 (with Michael Fordham QC and Iain Steele).  

Ajay drafted the FCA Handbook provisions for partly contested cases and expedited references to the Upper Tribunal while on secondment in the FCA Enforcement Division (working inter alia on FCA Consultation Paper 16/10). One version of the consulted-upon proposals has since been adopted (FCA Policy Statement 17/1) and came into force on 1 March 2017.  

Advising firm with interim permission to conduct consumer credit activities on application for full permission under Part 4A FSMA (with Monica Carss-Frisk QC).

Advising lender on Article 36H of the Regulated Activities Order (with Javan Herberg QC).

Acted for the FCA in respect of this application to the Administrative Court seeking a stay of FCA enforcement action in light of parallel Commercial Court proceedings (with Monica Carss-Frisk KC).

Appeared in the High Court as sole counsel for the Parole Board and successfully resisted the application against it. The Court dismissed the application as an abuse of process seeking to litigate public law matters by private law process.

Acted for the Appellant who sought asylum under the Refugee Convention and Articles 3 and 8 ECHR based on fear of persecution on the grounds of religion and sexuality. 

Acted for National Association of Head Teachers and its members who gave information to the public investigation into Birmingham schools after the ‘Trojan Horse’ letter. Successfully intervened before a disciplinary panel which had ordered disclosure of 50 interview transcripts. The panel accepted the NAHT’s submissions on confidentiality and narrowed its order to cover only 4 transcripts.

Acted for the FCA in successfully defending a judicial review challenge to the new deadline for bringing complaints about payment protection insurance (with Monica Carss-Frisk QC and Iain Steele). The claim raised a number of issues including as to the effect of the ADR Directive. 

Acted for the claimants in this judicial review challenge to the issuing of a warning notice under the Pensions Act 2004 (with Michael Fordham QC and Iain Steele).  

Advising SME on potential judicial review of a decision by a domestic public body administering EU funding.

Acted for the Appellant who sought asylum under the Refugee Convention and Articles 3 and 8 ECHR based on fear of persecution on the grounds of religion and sexuality. 

Acted for National Association of Head Teachers and its members who gave information to the public investigation into Birmingham schools after the ‘Trojan Horse’ letter. Successfully intervened before a disciplinary panel which had ordered disclosure of 50 interview transcripts. The panel accepted the NAHT’s submissions on confidentiality and narrowed its order to cover only 4 transcripts.

Two Article 5 ECHR challenges to the Secretary of State’s policy on release of prisoners with a whole life tariff or (as in Du’s case) a tariff which is likely to extend beyond their lifetime (assisting Ivan Hare, with James Eadie QC in Vinter, for the Secretary of State for Justice).

Two cases challenging decisions on behalf of the Secretary of State for Justice regarding the security categorisation of prisoners (assisting Ivan Hare for the Secretary of State for Justice).

Appeal by the Department of Health against the First-tier Tribunal’s decision to require disclosure of parts of the ministerial diaries of Andrew Lansley MP when he was Secretary of State for Health in the run-up to the enactment of the Health and Social Care Act 2012 (assisting James Eadie QC and Ivan Hare for the Department of Health).

Instructed by global bank with Paul Goulding QC. 

Significant case before the Court of Appeal concerning the scope of a qualifications body’s liability under the Equality Act 2010 in the Employment Tribunal (assisting John Bowers QC and Ivan Hare for the GMC).

Advising on the relationship between the rules on costs shifting and costs sharing in the Employment Tribunal, on the one hand, and the Tax Chamber of the First-Tier Tribunal, on the other (assisting Ivan Hare).

Pro bono appeal alleging apparent bias in circumstances where the Employment Judge was a governor of another school in the same county as the defendant school (accompanying Ivan Hare for the Appellant).

Acting for the First Defendant in a substantial High Court employment dispute concerning an alleged team move and alleged diversion of acquisition opportunities (assisting Paul Goulding QC and Diya Sen Gupta).

Acting for the Respondent in a claim alleging discrimination arising from disability and failures to make reasonable adjustments under the Equality Act 2010 (assisting Diya Sen Gupta).

Acting for the Respondent in unfair and wrongful dismissal claims arising against the backdrop of an FCA investigation (assisting Diya Sen Gupta). 

Advising an employee on potential claims for unfair dismissal, whistleblowing detriment and discrimination following his dismissal purportedly on the grounds of redundancy (assisting Diya Sen Gupta).

Advising a senior director on the interpretation and enforceability of non-dealing and non-solicitation covenants in his contract of employment under Jersey law (assisting Diya Sen Gupta). 

Advising an employer facing a claim for constructive dismissal and potential claims under the Jersey (Discrimination) Law 2013 (assisting Diya Sen Gupta).

Advising SME on potential judicial review of a decision by a domestic public body administering EU funding.

Challenge by a campaigning body to the legality under EU and public international law of the Fisheries Partnership Agreement between Morocco and the EU. The claim raises novel questions concerning the justiciability of claims which impugn the conduct of foreign states (assisting Brian Kennelly for the Secretary of State). 

Parallel challenge to the legality of the UK’s implementation of the EU-Morocco Association Agreement under EU and public international law (assisting Brian Kennelly for HMRC). 

Private damages actions by various large retailers against Visa alleging anti-competitive behaviour in the setting of multi-lateral interchange fees (assisting Dinah Rose QC and Brian Kennelly for Visa Inc).

Judicial review of the remote gambling tax regime contained in Part 3 of the Finance Act 2014 on the basis that it is an unjustified interference with the EU freedom to provide services under Article 56 TFEU (assisting Dinah Rose QC and Brian Kennelly for GBGA).

Preliminary reference concerning inter alia the classification of benefits as social assistance for the purposes of the EU Citizenship Directive (attending the CJEU with Brian Kennelly for the UK as intervener).

LCIA arbitration raising competition issues in a dispute in the EU air transport sector (assisting Brian Kennelly).

Advising HM Treasury on a number of issues concerning the compatibility of its licensing system with EU sanctions regimes (assisting Brian Kennelly). 

Advising HM Treasury on information sharing pursuant to EU sanctions regimes and the relationship of such regimes with EU data protection law (assisting Brian Kennelly).

Advising the Secretary of State for Transport on an intended Francovich claim concerning the implementation of the EU Motor Insurance Directives (assisting Brian Kennelly).

Successfully resisted jurisdiction challenge raising novel points regarding the new ‘third country’ provisions in Articles 33-34 of the Brussels (Recast) Regulation (with Barbara Dohmann QC).