Hana Kapadia

Hana represents corporate clients and high-net worth individuals in high-value, complex commercial disputes and investigations arising from fraud, insolvency, and contractual disputes across various jurisdictions such as the UK, Cayman Islands, the BVI, and the Kingdom of Saudi Arabia. Hana represents clients in various sectors, including wealth management services, financial services and hospitality, and regularly works with multi-disciplinary teams of foreign lawyers, accountants and other professionals on complex cross-border matters.

Hana joined LK in 2018 and completed her training contract with LK, qualifying in 2021.

Hana is a member of the London Solicitors Litigation Association and the Female Fraud Forum.

Experience

Al Gosaibi Family & Group (AHAB) (Cayman)

LK acted for AHAB, a large group of companies run by the Al Gosaibi family, in their claims against Mr Al Sanea and his Saad Group concerning his role in an alleged fraud resulting in losses of at least US$9 billion.

AHAB contended that Mr Al Sanea used his position (as the head of a division of the company) to borrow hundreds of billions of dollars in the company’s name – using forged banking documents – and then misappropriated some of the proceeds. AHAB contended that at least US$6 billion was stolen by Mr Al Sanea.

LK worked with a global team of lawyers and forensic accountants to coordinate the investigation into the fraud and the tracing of misappropriated assets, including in Saudi Arabia, the United Arab Emirates, Switzerland and the Caymans Islands.

UHNWI – Breach of fiduciary & contractual duties

Acting for an UHNWI in relation to actions against an investment advisor and private bank for breach of fiduciary and contractual duties under various investment advisory and loan agreements. The client invested approximately £500m in various funds on the investment advisor’s advice and now wishes to unwind the investments because of the advisor’s conduct. The case includes allegations about the misapplication of client monies, inappropriate investment strategies and fund arrangements, breach of fiduciary duties, conflicts of interest and general breaches of the FCA Conduct of Business Rules and Principles.

UHNWI – Investment and supply of services agreements

Acting as Co-counsel for an UHNWI in relation to an LCIA arbitration, defending claims brought by their former wealth-managers under certain investment and supply of services agreements and advancing counterclaims for fraudulent misrepresentation and conspiracy.

MFC

LK Law is instructed by the defendants to a claim concerning an alleged breach of a franchise agreement and alleged trademark infringement in respect of a contemporary Japanese restaurant brand. The proceedings has largely focused on procedural issues, including the correct method of service in Saudi Arabia. Most recently, the English Court decided that service of the Claim Form on the second Defendant, Modern Food Company Limited in relation to proceedings issued in 2021 should be set aside, further to Modern Food Company Limited’s successful application to set aside various orders obtained without notice to serve the Claim Form on the Defendants in Saudi Arabia.

SALINAS

LK act for Ricardo Salinas and Corporacion RBS SA de CV (“Claimants”) in their claim in the Commercial Court. This claim arose out of a stock loan agreement entered into with Astor Asset Management 3 Limited (“Astor 3”) pursuant to which a loan of US$104 million was advanced to the Claimants secured over shares in Grupo Elektra SAB de CV belonging to Mr Salinas. Those shares were deposited with two custodians, Weiser Global Capital Markets and Tavira Monaco SAM, and worth around $400 million at the time the claim was commenced.

In June 2024, the Claimants became aware that Astor 3 had directed the custodians to transfer a significant proportion of the shares to Cornelius Vanderbilt Capital Management Ltd and Astor Capital Fund Ltd, which the Claimants maintain was in breach of the agreements in place.

The Claimants obtained freezing orders and proprietary injunctions against the six Defendants in August 2024. The Claimants consider that they have been victims of a stock-lending fraud conducted by Mr Sklarov and his companies. They allege that Mr Sklarov gained control of Mr Salinas’s shares and wrongfully disposed of them contrary to the terms of the stock loan agreement.

Respondent in Contempt Proceedings:

Acting for the respondents to an application for committal for contempt of Court regarding various alleged breaches of worldwide freezing and injunctive orders in High Court proceedings. LK was instructed to act shortly before a substantive hearing of this application, and was successful in obtaining an adjournment of the hearing.