Turlough Stone (called to the Bar of England & Wales in November 2004 by the Inner Temple) has a broadly-based practice, specialising in commercial and modern chancery law. The principal emphasis of his practice is on banking and financial services (including asset finance), but he also practices in company law, insolvency, professional negligence and insurance.
He appears regularly in the Chancery Division, Commercial Court and Queen’s Bench Division, as well as before the Privy Council and the Court of Appeal, including high profile cases such as Lakatamia Shipping & Ors v. Nobu Su & Ors .
Turlough acts primarily for institutional clients (banks, finance houses and London Market insurers), but has also acted on behalf of public authorities in commercial disputes as well as for private individuals. Much of his work has an international element and involves the obtaining of interim relief, including freezing, search and asset preservation orders.
Turlough previously worked on secondment to the US law firm of Cadwalader, Wickersham & Taft LLP, where he spent 3 months in the firm’s Derivatives & Structured Products and Asset Based Finance Departments.
Banking and financial services law forms a significant part of Turlough’s practice. He advises and acts for a wide range of institutional and individual clients, both domestic and international, in both contentious and non-contentious work.
On the banking side, he has advised on disputes involving loan transactions, personal and corporate surety arrangements (including guarantees, letters of comfort and performance bonds), mortgages, finance agreements, structured financial products, letters of credit and bills of exchange.
On the financial services side, he has acted (almost exclusively for institutional clients) on a wide range of disputes, including misrepresentation and mis-selling claims (including LIBOR and forex manipulation), claims under the Financial Services and Markets Act 2000, claims against financial professionals, and Consumer Credit Act claims. He has also advised on a number of debt and equity programmes for UK, Irish and US financial institutions.
Turlough has experience of regulatory investigations and compliance issues, and has been retained to advise a major German investment bank and a leading private bank on regulatory matters.
Illustrative cases include:
Turlough's practice embraces a wide range of contentious and non-contentious commercial work, including professional liability, contractual disputes and property transactions.
Many of the cases on which Turlough has worked involve cross-border transactions or disputes, giving him experience of advising on and litigating questions of foreign law and choice of law. Turlough has also advised on, and appeared in applications for, interim remedies in commercial disputes, including applications for freezing orders, pre-action disclosure and Norwich Pharmacal orders.
Illustrative cases include:
As part of his commercial litigation, banking and asset finance practices, Turlough is frequently instructed in disputes involving allegations of corporate and personal fraud and misrepresentation. These often give rise to insolvency, cross-border and multi-jurisdictional issues, and involve applications for proprietary and freezing relief, pre-action and third party disclosure orders. Turlough has also been instructed to advise and act in tracing claims, claims for dishonest assistance and knowing receipt, and to assist in the enforcement of both foreign and domestic judgments. In addition to the cases set out above, recent and ongoing work includes:
Turlough has a broad and growing practice in insolvency law, including advising on and appearing in court on winding up proceedings, applications to restrain presentation of petitions or rescind winding up orders, as well as applications for validation orders. His insolvency practice often overlaps with his commercial litigation practice. In addition to the cases mentioned above, recent and ongoing work includes:
Turlough is regularly instructed in professional negligence claims, with a particular emphasis on claims involving financial services practitioners (including advisers and brokers), solicitors and surveyors. He also has experience of coverage disputes under liability insurance policies. Recent work includes:
Turlough has experience of a wide range of classes and type of marine and non-marine insurance disputes, acting on behalf of both insurers and assured, involving issues of coverage, construction, contribution, non-disclosure and insurable interest. Work in the last year includes:
Turlough has acted for a number of domestic and foreign clients in international arbitrations with their seat in London. Recent work in the last year includes:
Turlough is currently co-authoring a book on bailment, to be published by Informa Law/Routledge in 2017. He has also co-authored two articles in the last three months, both forthcoming in the editions of International Corporate Rescue: one on the case of PST Energy 7 Shipping LLC & Product Shipping and Trading S.A. v OW Bunker Malta Ltd & ING Bank N.V.  EWCA Civ 1058 (the “Res Cogitans”), and the other on the Hong Kong case of Kam Leung Sui Kwan v. Kaw Kwan Lai & Ors FACV No. 4 of 2015.
Fellow, All Souls College, Oxford (1995-2002)
Stipendiary Lecturer, Jesus College, Oxford (2000-2002)
Member, History Faculty of the University of Oxford (1999-2002)
French (fluent reading knowledge, passable spoken ability)
German (reading knowledge)
Italian (basic knowledge)
BA (Oxon) in Modern History, Double First Class (1995)
Prize Fellow, All Souls College, Oxford (1995-2002)
MSt (Oxon) in Historical Research, Distinction (1997)
Postgraduate Diploma in Law, City University, Distinction (2003)
Postgraduate Diploma in Legal Practice (BVC), Inns of Court School of Law, Very Competent (2004)
Chancery Bar Association
Commercial Bar Association (COMBAR)
London Common Law and Commercial Bar Association (LCLCBA)
South Eastern Circuit
Bar Liaison Committee, Inner Temple, 2008-2014
Library Committee, Inner Temple, 2014-2016