Michael Godden

Partner
Norton Rose Fulbright LLP

London
United Kingdom
T:+44 20 7444 5397
London
United Kingdom
T:+44 20 7444 5397
Michael Godden

Michael Godden

vCard

Related services and key industries


Biography

Michael Godden is a litigation and dispute resolution lawyer based in London. 

Michael focuses his practice on all aspects of banking and finance disputes, and has a particular focus on derivatives, debt capital markets, commodities and trade finance, Islamic finance disputes, syndicated lending and investigations involving these products. 

His experience also includes complex and high-value cross-border civil fraud, asset tracing and enforcement cases.  

Michael regularly acts for banks, funds, asset managers, derivatives dealers and corporate trustees.


Professional experience

Expand all Collapse all
  • Solicitor, qualified in England & Wales
  • The Law Debenture Trust Corporation plc v Ukraine FL-2106-000002 – acting for Law Debenture as note trustee on its US$3bn plus claim for Ukraine's eurobond default in December 2015. The note trustee successfully obtained summary judgment in Mach 2017 and the case was listed as one of The Lawyer's Top 20 Cases for 2017
  • Mercuria Energy Trading PTE Ltd v Citibank NA [2015] 1 C.L.C. 999 – acting for Citi in its US$285m dispute with Mercuria on aluminium and copper obligated repo transactions believed to be the subject of a third party fraud in the Chinese ports of Qingdao and Penglai
  • Represented Citicorp Trustee Company Ltd as the Delegate following the default of the US$650m Golden Belt 1 Sukuk. The transaction was one of the first Islamic Finance defaults and relates to the prominent Saudi conglomerate, Saad Trading and its general partner, Mann Al-Sanea
  • Citicorp Trustee Company Ltd v Barclays Bank Plc [2013] EWHC 2608 (Ch) – advised Citicorp Trustee Company Ltd on a Beddoe application and expedited Part 8 proceedings to obtain an urgent ruling on whether notes under two issues of CMBS notes had been disenfranchised from voting on a restructuring
  • Acted for The Toronto-Dominion Bank on the defence of a US$280m valuation dispute under the 1992 ISDA Master Agreement arising out of the Icelandic banking crisis. The dispute centred around the FX rates and interest rates selected by the bank for the close-out of a substantial derivatives book shortly after the collapse of Lehman
  • Deutsche Bank v Total Global Steel [2012] Env. L.R. D7 – successfully obtaining judgment in one of the only carbon trading cases to be heard by the English courts
  • Britannia Bulk Plc (in liquidation) v Pioneer Navigation Ltd [2011] 2 Lloyd's Rep. 84 – acting for the successful liquidators on one of the leading cases on the interpretation of Section 2(a)(iii) and the Second Method and Loss provisions of the ISDA Master Agreement used to document FFA trades
  • Successfully obtaining a high value LCIA arbitral award for a major international bank on a default under loan participation notes
  • Shalson v Russo [2005] Ch. 281 – at his previous firm, acting for the successful claimants on a major fraud and asset tracing case involving a £20m fraud. The case is a leading reported case on civil fraud and involved obtaining search and freezing injunctions, third party disclosure orders, appointment of receivers and provisional liquidators, successful proceedings for committal for contempt of court as well as related proceedings in Bermuda, Jersey and Switzerland.
  • Chambers UK  – Banking Litigation (London) 2018: Michael Godden is described as "a very forensic lawyer and a very original thinker"
  • Legal 500 UK  - Dispute Resolution: Banking Litigation 2017: Department head Michael Godden is "brilliant and insightful"
  • Chambers UK – Banking Litigation (London) 2017, "a very effective litigator" and "a solicitor who takes a keen interest in the technical details and legal analysis as well as the facts"
  • Legal 500 UK – Dispute Resolution: Banking Litigation 2016, "clients single out Michael Godden for his impressive breadth of understanding"
  • Chambers UK – Banking Litigation (London) 2016, "market sources say Michael Godden is an ISDA expert who knows banking, particularly derivatives, inside out"
  • Legal 500 UK – Dispute Resolution: Commercial Litigation 2015, "Michael Godden pushes litigation forward effectively"
  • Chambers UK – Banking Litigation (London) 2015, "extremely knowledgeable in every aspect of financial litigation"
  • Chambers UK – Banking Litigation (London) 2014, "very impressive"
  • Meaning of loss and second method under the 1992 ISDA Master Agreement, B.J.I.B. & F.L. 2011
  • Freight clarity from the courts M.R.I. 2011, 25(3), 12-13 
  • Possession really is nine-tenths of the law for payments made "under protest", B.J.I.B. & F.L. 2010, 25(1), 30 
  • New York turnover orders: an English law perspective, B.J.I.B. & F.L. 2009, 24(9), 561 
  • Multi-jurisdictional enforcement P.L.C., 2007, 18(9), 37-46 
  • Robbing Peter to pay Paul, T.Q.R. 2004, 1(4), 10-13 
  • Cash and charisma, S.J. 2003, 147(36), 1076-1077 
  • Co-author, first edition of Commercial Enforcement, 2005

Knowledge

Banking and finance disputes review

Publication | September 27, 2018

State immunity

Publication | February 2017