Khadija Leuenberger

Khadija accepts instructions on all aspects of banking and finance and has been involved in numerous high-value and complex disputes in this area for and against major financial institutions. She has particular expertise relating to derivatives trading transactions and cases involving financial sanctions.

Notable experience includes:

Acting for an energy trading company in defending a claim in excess of USD 10 million brought by a major international financial institution in a DIFC-LCIA arbitration relating to a futures trading agreement. The dispute arose from circumstances of the severe market disruption and price volatility in the oil market caused by the breakdown of talks between OPEC and Russia over production cuts in the midst of the COVID-19 pandemic.

Advising a major international bank on whether a transition from the London Interbank Offered Rate (LIBOR) to the Sterling Overnight Indexed Average (SONIA) as the reference rate under its UK mortgage loan facility agreements, falling within scope of the Mortgages and Home Finance Conduct of Business provisions (MCOB), required new binding offer letters to be sent out to borrowers.

Advising on MiFID technical standards with respect to pre- and post-trade control implementation by financial institutions providing direct access to commodity trading platforms and associated due diligence.

Acting for an international diamond trade financing bank in proceedings for the recovery of approximately USD 6 million worth of dishonoured payments as a consequence of fraud and conspiracy involving parties in the UAE and Switzerland.

Advising on the termination of multi-million-dollar swap transactions on grounds of Illegality.

Acting for a global aluminium producer against a major international financial institution in a LCIA arbitration with claims and counterclaims in excess of USD 100 million relating to the effect of international sanctions on obligations and termination rights under ISDA transactions.

Advising a major gas processing and LNG production company on remedies available under English law for dishonoured on-demand bonds issued by certain financial institutions.

Acting for a leading bank in complex fraud matters in ADCCAC arbitration proceedings arising from Islamic lending facilities in excess of USD 70 million.

Acting for an international bank in DIFC-LCIA multi-million-dollar proceedings involving issues of complex fraud and jurisdictional and enforcement issues in India and the UAE.

Khadija accepts instructions on a range of matters relating to international sanctions, in particular financial sanctions, most recently as a result of Russia’s invasion of Ukraine. She has been involved in complex disputes in this area involving UK, US, EU and UN sanctions.

Notable experience includes:

Advising on the termination of multi-million-dollar swap transactions as a result of international sanctions against major Russian financial institutions, including a consideration of UK, US, EU, Jersey, Gibraltar and UN sanctions, certain OFSI and OFAC licences and measures imposed by the German regulator, BaFin.

Acting for a global aluminium producer against a major international financial institution in a LCIA arbitration with claims and counterclaims in excess of USD 100 million relating to the effect of international sanctions on obligations and termination rights under ISDA transactions.

Advising on pre- and post-Brexit sanctions legislation and whether material aspects of the UK sanctions regime post-Brexit are intended to depart from the pre-Brexit sanctions position transposed from European law.

Advising on the meaning of indirect control and ownership under The Russia (Sanctions)(EU Exit) Regulations 2019 and the OFSI licensing process, including the criteria and reporting requirements under an OFSI General Licences.

Khadija accepts instructions in all areas of commercial litigation and has been involved in numerous high value, complex and multi-jurisdictional disputes.

Notable experience includes:

Acting for a global sub-sea maritime service provider in a multi-jurisdictional dispute across London, Panama, the UAE, and Singapore for claims in excess of USD 500 million for breaches of representations and warranties in a private equity investment transaction.

Advising a multi-national corporation on advancing a defence and counterclaim before the High Court in excess of USD 20 million pertaining to the sale of an oil rig.

Acting for a respondent in ICC arbitration proceedings concerning a dispute over the termination of a supply of float glass contract to the value of USD 15 million.

Acting for a claimant in LCIA proceedings concerning an aviation dispute involving issues of force majeure and the seizure of a number of aircrafts in Afghanistan.

Acting for a respondent in ICC arbitration proceedings concerning a dispute over the termination of a supply of float glass contract to the value of USD 15 million.

Acting for a Dubai-based property developer in ICC arbitration proceedings against a USD 30 million claim brought by a contractor disputing delay penalties in connection with a 35-storey commercial development.

Acting for a prominent UHNWI in a multi-million-dollar dispute against certain luxury hotel project owners in ICC arbitration proceedings.

Advising on the recognition of arbitration agreements, enforcement and attachment of performance securities in the UAE.

Acting for a UAE-based property developer in a DIAC arbitration proceedings claiming in excess of USD 120 million against a contractor.

Acting for a respondent in DIAC arbitration proceedings concerning a claim in excess of USD 450 million for the breach of a commercial property sale and purchase contract.

Acting for a major Kuwaiti property developer in multi-million-dirham ADCCAC arbitration proceedings relating to the termination of a services agreement for one of Abu Dhabi’s largest mall development projects.

Acting for an international media company in a multi-million-dollar shareholder dispute.

Acting for an applicant in the enforcement of a DIAC arbitration award in foreign court proceedings against a group of companies for work carried out on one of the group’s developments in the UAE involving issues of due process, the effect of bribery and fraud on the validity of a contract and matters of corporate personality.

Acting for a BVI registered company, in a multi-party dispute before the DIFC Courts to recover amounts payable pursuant to a loan agreement where repayment was tied to an insurance claim in excess of USD 12 million.

Taaleem v NBC and Deyaar – multi-party proceedings before the DIFC Court of First Instance and Court of Appeal for claims in excess of USD 100 million involving complex allegations of sophisticated fraud, embezzlement, corporate conflicts of interest and breaches of fiduciary duties and novel aspects of procedural law. The case set important precedent on matters such as the use of UAE expert evidence and the jurisdiction of the courts.

Globe Investment Holdings Limited v (1) Commercial Bank of Dubai (2) Hortin Holding Limited (3) Lodge Hill Limited (4) Westdene Investment Limited (5) VS 1897 (Cayman) Limited – successful in obtaining an ex parte worldwide freezing order before the DIFC Courts over assets to the value of circa. USD 180 million. An important decision on the enforcement principle and the DIFC Courts’ jurisdiction where an injunction is sought over parties outside the DIFC and UAE.