Nicholas Medcroft
| Call date: 1998 | |||
| Email: Nicholas Medcroft | Clerk: Mark Reeder | ||
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Practice summary
Nicholas Medcroft specialises in banking, financial services, fraud and regulatory law. He is recommended in the Legal 500 as a leading junior in banking and finance, in fraud and in health and safety.
Since 2002 he has been on the Attorney General’s Panel of Prosecuting Advocates acting for the government in major frauds, tax evasion and serious regulatory matters.
He has a growing reputation in banking and financial services and is regularly instructed by financial institutions and the FSA. He has particular experience of the obligations on financial institutions under Part 7 POCA 2002 and was junior counsel for the bank in Shah v HSBC Private Bank Ltd(2010) EWCA Civ 31 (the extent to which Part 7 POCA excludes a banker's liability for damages arising from a breach of contractual duty (i) to honour its mandate (ii) to take reasonable care and (iii) to provide information to its customers).
His experience of fraud (both civil and criminal) is wide-ranging. It includes anti-competitive conduct, MTIC ‘carousel’ fraud, direct and indirect tax fraud, fraudulent trading, contrived liquidations, dishonest fiduciaries and employees, money laundering and corruption. He is familiar with all aspects of asset tracing, including freezing injunctions, civil recovery, restraint and confiscation. He was junior counsel for the Serious Fraud Office in the Court of Appeal and the House of Lords in GG Plc [2009] 1 WLR 458) (the high profile prosecution of manufacturers of generic drugs for price fixing) and is presently instructed in respect of the SFO’s ongoing investigation into corruption within the construction industry.
He has an established practice in regulatory law with a particular emphasis on health and safety. He has acted in some of the most complex and high profile health and safety cases, including the Potters Bar rail crash, the Tebay rail crash and litigation arising from the explosion at the Buncefield oil storage terminal. He is recommended by both the Legal 500 and Chambers and Partners for health and safety, where he is described as “junior of choice,” known for his “prodigious work ethic,” receiving consistent applause from the market.
Publications
“Refusing to execute payment instructions where a bank suspects money laundering” [2009] 4 JIBFL 190
“Financial Services Law and Regulation”, Lexisnexis, 2009 (contributor)
“A banker’s liability for damages arising from compliance with pt 7 POCA” [2010] 4 JIBFL 217
- Case name: Environment Agency and Health and Safety Executive v Hertfordshire Oil and Storage Limited, Total (UK) Limited and British Pipeline Agency Limited (2010)
- Case summary: Proceedings brought by the HSE and EA following the explosion at the Buncefield oil storage terminal (acting for one of the oil companies, instructed by Freshfields Bruckhaus Deringer)
- Case name: Shah v HSBC Private Bank Ltd; [2009] 1 Lloyds Rep 328; (2010) EWCA Civ 31
- Case summary: The extent to which Part 7 POCA excludes a banker's liability for damages arising from a breach of contractual duty (i) to honour its mandate (ii) to take reasonable care and (iii) to provide information to its customers (acting for the bank, instructed by DLA Piper).
- Case name: FSA v Semperian Investment Partners Limited Partnership & others (2010)
- Case summary: Enforcement action brought by the FSA against a LLP for breaches of the change in control regime under FSMA (acting for the FSA)
- Case name: GG Plc ([2007] EWCA Crim 2659; [2009] 1 WLR 458 (HL)
- Case summary: The circumstances in which price fixing may constitute conspiracy to defraud (acting for the SFO).
- Case name: R v Connolly and Kennett [2007] 2 Cr. App. R (S) 82, CA
- Case summary: Gross negligence manslaughter arising from the Tebay rail accident (acting for the owner of the company, instructed by Berrymans Lace Mawer).
He is “very impressive,” note market observers, and someone who is "in the 'Lissack' mould.” Health & Safety, Chambers and Partners 20112
‘one of the most knowledgeable health and safety barristers around’ Health and safety, Legal 500, 2011
‘incisive legal analysis and high-quality advice’. Fraud: crime, Legal 500, 2011
“very user-friendly; has a thorough appreciation of how banks work” Banking and Financial Services, Legal 500, 2011
“singled out positively” Banking and Financial Services, Legal 500, 2009
“Receives consistent applause from the market and is known for his ‘prodigious work ethic’” Health and Safety, Chambers and Partners 2010
“an impressive all-rounder who turns his hand to very complex new matters with ease” Health, Safety & Environment, Legal 500, 2010
‘advice is always on point’ Fraud: crime Legal 500, 2010
“goes from strength to strength….he draws plaudits for his ‘sound judgment and lateral thinking’." Health & Safety, Chambers and Partners 2011
Appointments & memberships:
- Appointed:
- 2002 - Attorney General’s Panel of Prosecuting Advocates
- 2009 – SFO panel of approved counsel.
- Memberships:
- ARDL
- COMBAR
- HSLA
- POCLA