Pavlos Panayi KC
Year of call
1995
Silk
2014
Instructing Pavlos Panayi KC
For more information please contact our clerks by calling +44 (0)20 7242 3555.
Pavlos is an established and busy silk, practicing in the overlap between Commercial Regulatory and Criminal Law, with particular expertise in fraud and cross-border matters involving multinationals. Pavlos represents corporates and company directors, bank officials and financial institutions. He was on the SFO prosecution panel from 2017-2020, before moving to purely privately funded and commercial disputes.
Pavlos acts for corporates and individuals seeking advice in the UK, Channel Islands, Cyprus, Greece and the Caribbean. He maintains a general criminal practice including in allegations of terrorism, murder and sexual offences and is a regular speaker in the UK and internationally on issues of bribery, corruption, AML and fraud.
Current instructions
- Acting for an online gambling corporate licensee in a British Crown Dependency facing investigation by the gambling regulator surrounding its sanctions, AML and CTF compliance and controls.
- Currently instructed in civil proceedings arising from the “Golden Passports” scandal in Cyprus where several prominent politicians, lawyers and businessmen are accused in the Nicosia Assizes court of complicity in fraud and corruption. The public scandal arose following an undercover investigation by the Al Jazeera news network into the abuse and corruption of the Cyprus Investment Programme path to citizenship.
- Instructed for an IT director of several Indian and U.K. technology companies, the main defendant in a £20m bribery and fraud prosecution following an 8 year joint investigation by HMRC and the City of London police.
- Instructed to appear for the main defendant in a prosecution by the Financial Conduct Authority for Insider Trading arising out of unusual share and spread betting prior to a major market announcement.
- Instructed for the Cypriot CFO of a global business in liquidation, alleged to have committed civil fraud and a series of breaches of fiduciary duty.
Recent instructions
- Acted for dual Israeli and Cyprus citizen of Russian origin, in relation to litigation in the English commercial court arising from a banking dispute in Moscow, with parallel litigation in the Russian Federation and Cyprus.
- Acting for a billionaire businessman facing restraint order arising from an AML investigation.
- Advising in relation to the international and UK aspects of an investigation arising out of the Onecoin $4b ponzi scheme.
- Acting for a Cyprus bank and its officials charged in the Nicosia criminal court with fraud, market-manipulation and forgery allegations in three linked trials arising out of the collapse of the Cyprus banking system in 2012-2013.
- Acting for a Guernsey fund management business in enforcement action brought by the Guernsey Financial Services Commission.
- Directing an internal investigation for a major international financial institution into a series of linked frauds of approx. €300m.
- Acting for five directors of a leading UK business facing prosecution for conspiracy to cheat following a long-running HMRC investigation
- Acting for principle partner at a London based law firm alleged to have committed a £6m fraud on the Legal Aid fund.
- Acting for two British company directors of an AIM listed communications company and its Greek subsidiary facing prosecution in Athens for alleged fraud on thousands of consumers.
- Advised in several extradition request cases.
Pavlos is qualified to accept instructions directly from clients and is registered under the Bar Council’s Public Access Scheme, meaning that members of the public who seek specialist advice can come directly to him. In addition, he welcomes instructions from solicitors, in-house law departments, qualified foreign lawyers, and clients licensed by the Bar Council to give instructions directly to barristers under the Bar Council’s Licensed Access Scheme. For more information please visit our Direct Access page here.
Legal Expertise
Commercial
Commercial
Pavlos has practiced in commercial litigation for 10 years with a focus on matters involving allegations of fraud, bribery, negligence and other wrongdoing. Pavlos offers independent advice to corporates in investigations arising from whistleblower claims and where internal audits flag potential breaches of sanctions; bribery; tax and AML compliance obligations.
Pavlos has recently acted in several substantial claims involving multiple jurisdictions with a focus on DIFC; Jersey; Guernsey; Isle of Man; Israel and Cyprus. Pavlos works closely with teams involving lawyers across borders where there are parallel claims and where issues of liability and recovery required a joined-up approach.
His practice regularly involves:
- Banking and Finance
- Chancery
- Civil Fraud
- Financial Services
- Fraud and Breach of Fiduciary Duties
- Professional Negligence
- Offshore and Conflict of Laws
- Sanctions
- Regulatory enforcement and disciplinary action by UK and overseas regulators
- Directors and shareholder duties and responsibilities
- Private Equity
- Arbitration (Counsel)
Recent and ongoing instructions include:
Notable Commercial cases
Pavlos is currently advising in relation to a sanctions and mutual legal assistance issue in Cyprus, London and Jersey involving alleged sanctions breached by a HNW.
Pavlos acted for the family of high net worth individuals whose inheritance included USD 90 million held by Credit Suisse in an offshore jurisdiction which they sought the return of. Pavlos drafted the pleading and advised on a successful trial strategy, working closely with advocates in two jurisdictions. As a result Pavlos' clients succeeded in overturning 10 years of reported judgments and securing the return of all the frozen funds. In the process, the case established an important new precedent in favour of claimants in such disputes.
Pavlos appeared for the Chief Financial Officer of Joannou and Paraskevaides (Overseas) Group, the largest construction conglomerate at that time operating in the Middle East and North Africa, in defending a USD 1 billion claim for civil fraud and breach of fiduciary duties. The litigation followed the collapse of the business in 2018 with over $1.2 billion of debt. Pavlos acted from the initial stages for 6 years, providing advice on jurisdiction/forum; security for costs proceedings; evidence-gathering; drafted pleadings and led a team of UK and Guernsey lawyers to formulate a successful trial strategy which resulted in his client being the sole party to avoid liability in the Guernsey Royal Court.
Pavlos was instructed by Bird and Bird's London office, appearing for the Defendant bank in commercial litigation in the High Court (Business and Property Courts). The Bank offers international electronic money transfer services and has subsidiary banks in financial centres in dozens of jurisdictions. The case required Pavlos' expertise in FCA regulatory enforcement, suspicious activity reports, alleged banking covenant breaches and public policy defences. Pavlos initially advised the UK and EU entities within his client banking group as to its money laundering and financial regulatory obligations after an internal audit revealed that it had been targeted by an organised crime group resulting the depositing of several million pounds suspected to be of illegitimate origin. Pavlos advised as to the bank's rights and duties and directed investigations in the UK and overseas. Similar suspicions then arose in two EU jurisdictions, resulting in concurrent civil action both in the UK and offshore. Pavlos successfully defended the claims brought against his client in the High Court while simultaneously advising and directing proper and appropriate engagement with the NCA and FCA.
Pavlos is currently advising New Zealand based trustees seeking the return of several millions in funds held by Guernsey-based trust administrators. The dispute arises from alleged bribery and corruption by a South American construction conglomerate. Pavlos has been working with the Guernsey office of a multi-national law firm during the evidence gathering stage. Pavlos acts for the Trust, its settlors and beneficiaries and is advising as to trial strategy prior to the issuing of proceedings in a case involving trusts, financial crime, commercial law and banking compliance issues across three jurisdictions.
Pavlos was recently instructed by DWF (London Office) in successfully defending a high net worth (HNW) individual of Russian/Israeli/Ukrainian heritage in a High Court claim for recovery of £1.6m allegedly obtained from the Plaintiff companies through a complex fraud. Examination hearings in the High Court were followed by enforcement action and a committal for several contempt's of court amid allegations of forgery.
Pavlos advised a former director of one of the UK's "Big Four" banks under investigation by the Cologne Public Prosecution office arising from the bank's alleged involvement in Cum-Ex frauds following a raid of it's Frankfurt offices and that of it's auditors. The bank is one of several international financial institutions under investigation by government law enforcement divisions in multiple jurisdictions. Cum-ex fraud is the allegedly dishonest structuring of share dealing transactions, dividend payments and tax reclaims and is said - over a 10 year period - to have resulted in over $100 billion losses internationally. The case involves the interpretation of IFRS standards in the tax treatment of the suspected transactions and structures.
Business Crime
Business Crime
Current instructions:
- Instructed for an IT director of several Indian and U.K. technology companies, the main defendant in a £20m bribery and fraud prosecution following an 8 year joint investigation by HMRC and the City of London police.
- Instructed to appear for the main defendant in a prosecution by the Financial Conduct Authority for Insider Trading arising out of unusual share and spread betting prior to a major market announcement.
- Instructed for the Cypriot CFO of a global business in liquidation, alleged to have committed civil fraud and a series of breaches of fiduciary duty.
Notable Business Crime cases
2018 to 2020: Acting successfully for group finance and tax manager of the Bank of Cyprus charged with fraud, misleading shareholders and falsifying minutes of meetings of the assets and liabilities committee.
2020: Acting for two company directors of an international telecoms business facing prosecution for defrauding customers in another EU country. Case ongoing.
2019-2020: Acted for director of a gold bullion business facing £200m restraint order in the UK arising from an AML investigation. Succeeded in discharging restraint order.
2019: Advised Jersey based business facing prosecution for defrauding its client companies. Drafted the written submissions as to law of fraudulent conversion coupled with Preddy submissions succeeding in case being withdrawn from the jury. Drafted legal arguments in response to a prosecution appeal, once again succeeding in upholding the acquittal.
2019: Advised a UK law firm partner from whom the FBI sought assistance with its investigation into the Onecoin $4b Ponzi scheme and associated money laundering.
2018-2019: Acted for five directors of a leading UK printing business facing prosecution for conspiracy to cheat following a long-running HMRC investigation. Advised pre-trial and negotiated with prosecution as to acceptable pleas. When separate representation was deemed appropriate, appeared for one of the five directors avoiding custody in his case.
2017: Acted for principle partner at a law firm alleged to have committed a £6m fraud on the Legal Aid fund; Succeeded in striking prosecution out during interlocutory proceedings in the Court of Appeal.
2017: Acted for company director of UK and Spanish incorporated businesses alleged to have mis-sold to hundreds of thousands of customers using boiler rooms here and in Tenerife. Client acquitted.
International and Extradition
International and Extradition
Notable International and Extradition cases
2020: Advised Cyprus/Israeli based Russian businessman facing requests that he provide evidence in linked civil fraud proceedings running in parallel in the High Court in London and at the London Court of International Arbitration (LCIA). Cases arose from a 2017 banking dispute in the Russian Federation. Claims had been issued and were at varying states of completion in the Republic of Cyprus, Russia and London.
2019- 2020: Acting for two UK company directors of an AIM listed communications company and its Greek subsidiary facing prosecution in Athens for alleged fraud on thousands of consumers.
2018-2020: Acted for one of 5 defendants prosecuted in the Nicosia Criminal Court during three sequential linked trials alleging fraud, market-manipulation and forgery in a case of national importance in Cyprus arising out of the collapse of the Cyprus banking system in 2012-2013. Succeeded in each case resulting in acquittal of client.
2019: Advised UK law firm partner in relation to LPP and risks of prosecution and extradition in response to a request for assistance from a foreign law enforcement investigation into a worldwide fraud.
2018: Appeared for a Guernsey fund management business and its managing director who faced enforcement action brought by the Guernsey FSC for a catalogue of serious breaches of the Guernsey Protection of Investors Law.
2016-2017: Led the audit team of a major international financial institution in an internal investigation into a series of linked frauds of aprox. €300m.
2018: Advised an individual facing extradition to the Greek island of Naxos for manslaughter, resulting in charges being dropped at the local island court.
2017: Advised a Cyprus national on risks of extradition to UK on charges of attempted murder.
2016: Advised a Turkish company director on issues of mutual assistance and provided expert evidence for the Istanbul criminal court as to the interpretation of English criminal law and procedure, resulting in charges being dropped at the local court.
2016: Advised a Polish national on merits of an appeal to the UK Supreme Court of a refusal by the High Court to quash extradition to Poland under an EWA.
Crime
Crime
Notable Crime cases
2020: Instructed for the prosecution in murder trial where deceased was beaten to death and stabbed multiple times.
2020: Appeared for the defence in one of the first murder trials in a Covid-compliant court. Five weeks trial.
2020: Appeared for the prosecution in relation to the stabbing by a 15 year old another 15 year old.
2019: Appeared for the prosecution in a murder trial where a workman at a building site was stabbed to death by his colleague.
2019: Appeared for the defence in a four defendant murder trial arising from turf-warfare between county-lines and local Oxford based drug dealers.
2019: Appeared for defence in a two defendant murder trial at the Old Bailey, where four young men on mopeds committed the murder of a rival gang-member using several machetes.
Instructing Pavlos Panayi KC
For more information please contact our clerks by calling +44 (0)20 7242 3555.
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