Year of Call:
Justina Stewart is ranked as a Leading Junior in Commercial Litigation, Banking and Finance, and Insolvency. Her practice encompasses the full range of commercial chancery and financial regulatory work.
Directory comments include:
- “Justina is brilliant. She is sensible, calm and organised as well as being really personable and a fantastic communicator…” (Banking & Finance, Legal 500 2021)
- “A highly intelligent and tenacious litigator, she is also far more financially literate than most barristers.” (Banking & Finance, Legal 500 2020)
- “… very good commercial application …” (Banking & Finance, Legal 500 2019)
- “Extremely bright, enthusiastic and commercial – she produces excellent written work and is able to both empathise with clients whilst providing well considered independent advice.” (Commercial Litigation, Legal 500 2021)
- “A pleasure to work with. She has a great grasp of the detail and strikes a good commercial and pragmatic balance in her advice… the fine details and the quality of her work make her a real asset to any team.” (Commercial Dispute Resolution, Chambers & Partners 2021)
- “Strong, dynamic and commercial. She’s a force and great to use on difficult insolvency claims.” (Insolvency, Legal 500 2021)
- “Incredibly impressive and a force to be reckoned with.” (Insolvency, Legal 500 2020)
Justina’s cases include those with multi-jurisdictional elements, and matters which are notable for their complexity and novelty. She has extensive advocacy experience, and has appeared unled in significant matters.
Before coming to the Bar, Justina was an international investment banker, working with top-ranked corporate finance teams on complex transactions, predominantly in the oil & gas, electricity, banking, IT and telecoms sectors.
This, together with her economics degrees, gives Justina a level of financial acumen and familiarity with financial products that is rare at the Bar.
Justina is appointed to the Attorney General’s C Panel of Junior Counsel to the Crown.
Banking and Financial Services
Justina’s background in banking means that she is particularly well qualified to deal with banking and financial services matters. Her work falls broadly into two categories: disputes arising from the purchase and supply of services and products, and regulatory and enforcement matters. She has been involved in numerous high-profile and innovative banking and financial services cases.
Examples of cases:
Punjab National Bank (International) Ltd v MBL Highway Development Co Ltd (2020) – represented the successful bank in a claim for over US$ 17 mln. Summary judgment involving a complex collection of security and other documentation, whether the court was entitled to enter judgment under Art 15 Hague Convention, the test for alternative (retrospective) service under CPR r.6.15, whether the bank was entitled to rely upon a contractual service clause, the relevance of inconsistent dispute resolution clauses, and whether the defendant could rely upon its parent company entering the Indian corporate insolvency resolution process.
ECU Group Plc v HSBC Bank Plc & ors (Comm) (2019) – allegations of “front-running” and misreporting of execution prices concerning foreign exchange “stop-loss” orders of ECU, a provider of multi-currency debt management services. Claims for damages and/or an account of profits. Allegations include breach of contractual/tortious duties, breach of duty in relation to confidential information, deceit and unlawful means conspiracy.
Client confidential (2019) – proposed collective proceedings in the Competition Appeal Tribunal, founded on Commission Decisions concerning forex exchange cartels – headline figure £1bln. Advised on novel issues relating to proposed class/quantum.
Re: Markets Trading Ltd (ChD) (2019) – company offered online brokerage services to retail investors for high risk financial products (e.g. bitcoin CFDs and binary options). Instructed by Secretary of State to wind up company on public interest grounds.
IG Index Ltd v Nakade (QBD) (2019) – spread-betting – claim by IG Index for sums allegedly due from retail investor following the Swiss National Bank’s announcement that it would no longer defend a cap on the Swiss Franc. Involves detailed analysis of COBS and approach to aggregation of orders.
Client confidential (2018) – action against lender seeking to recover sums allegedly charged over property. Issues relating to interpretation of UK transposition of Mortgage Credit Directive in relation to second charge mortgages.
Client confidential (2018) – client (company) sought to restructure property portfolio and refinance existing fixed rate loan. Bank alleged that if company wished to refinance early, a significant (multi-million £) break cost had to be paid. Issues relating to justification of break costs – involved issues of contractual interpretation in the context of complex hedging arrangements.
Barnett Waddington Trustees (1980) Ltd v Royal Bank of Scotland  EWHC 834 (Ch) – instructed by borrower. Following the borrower’s success in the first Barnet Waddington case (see below), RBS sought to allege that an “interest rate swap termination cost” arose upon redemption by reason of a swap with a third party. Borrower successfully argued that it was entitled to resist this claim on the basis that it was an abuse of process (led by Mark Warwick QC).
Barnett Waddington Trustees (1980) Ltd v Royal Bank of Scotland Plc  EWHC 2435 (Ch) – instructed by the borrower, in a case concerning a borrower’s liability to indemnify a lender against ‘losses’ said to have been suffered by the lender as a result of an internal hedging arrangement. Borrower wished to redeem the loan. Lender insisted that, as a condition of redemption, borrower had to pay an ‘interest rate swap termination cost’ arising from an internal swap. Warren J determined that no such sum was payable (led by Mark Warwick QC).
Client confidential – claim in excess of £20m by fund of funds against investment manager and broker in relation to LME metals trading. Included allegations of conspiracy and dishonest assistance.
FCA / GRG – instructed by FCA in relation to its review, under s.166 FSMA, of the Royal Bank of Scotland’s treatment of business customers in financial difficulties and entry into RBS’s Global Restructuring Group.
FCA / HSBC / interest rate swap mis-selling / consequential losses – Instructed by HSBC in relation to the FCA’s review, under s.166 FSMA, of interest rate swap mis-selling, specifically on the recoverability of consequential losses claimed.
Appointments & Memberships
- Lincoln’s Inn
- Chancery Bar Association
- Commercial Lawyers Fraud Association
- Financial Services Lawyers Association
- Professional Negligence Bar Association
• LLB (First Class)
• BVC (Outstanding, first in year group)
• GDL (Distinction)
• M.Phil (Economics) (Oxford)
• BSc.Econ (LSE)
- Cassel Scholarship (Lincoln’s Inn)
- Sunley Scholarship (Lincoln’s Inn)
- Buchanan Prize (Lincoln’s Inn)
- French (Fair)
- Polish (Fair)
Justina Stewart is regulated by the Bar Standards Board (BSB) and holds a current practising certificate. If you are not satisfied with the service provided, please click here.
Areas of Law
- Insolvency & Restructuring
- Professional Negligence
- Commercial & Chancery
- Financial Services
- Business Crime
“A pleasure to work with. She has a great grasp of the detail and strikes a good commercial and pragmatic balance in her advice… the fine details and the quality of her work make her a real asset to any team.” Commercial Dispute Resolution, Chambers and Partners 2021
“Justina is brilliant. She is sensible, calm and organised as well as being really personable and a fantastic communicator.” Banking & Finance, Legal 500 2021
“Extremely bright, enthusiastic and commercial – she produces excellent written work and is able to both empathise with clients whilst providing well considered independent advice.” Commercial Litigation, Legal 500 2021
“Strong, dynamic and commercial. She’s a force and great to use on difficult insolvency claims.” Insolvency, Legal 500 2021
“A highly intelligent and tenacious litigator, she is also far more financially literate than most barristers.” Banking and Finance, Legal 500 2020
“Incredibly impressive and a force to be reckoned with.” Insolvency, Legal 500 2020