Jonathan Clark

Joined firm 2007. Partner since 2014.

Jonathan has a strong and varied litigation and investigations practice advising a wide range of financial services and corporate clients. He has deep experience defending allegations of deliberate wrongdoing, having advised on criminal and regulatory investigations and litigation involving alleged corruption, fraud, cartel activity and tax evasion.

Jonathan’s litigation practice includes a focus on banking cases relating to complex derivatives transactions and benchmark manipulation, as well as multi-jurisdictional competition litigation in a number of sectors. He also advises clients in a number of different industries on appeals to the Competition Appeals Tribunal from decisions of the UK competition authorities.

Jonathan has particular interest and experience in advising clients in relation to ongoing business and PR issues in the context of live litigation or investigations.

Jonathan’s Investigations work highlights include advising:

  • British American Tobacco plc in connection with the SFO’s investigation of suspicions of corruption which was concluded in 2021.
  • Rolls-Royce plc in relation to the criminal investigations by, and resolutions with, the SFO, US DoJ, and Brazilian authorities regarding allegations of bribery and corruption in overseas markets. The UK Deferred Prosecution Agreement was just the third such agreement in the UK (and by far the largest of the three) and the first to be concluded concurrently with the resolution of non-UK investigations.
  • Deutsche Bank A.G. on:
    • Regulatory investigations and resolutions relating to the setting of various interbank offered benchmark rates (including LIBOR and EURIBOR) over a number of years and across multiple jurisdictions; and
    • The first general LIBOR claim against multiple banks in England and Wales.
  • A global conglomerate against numerous allegations of fraud and corruption over a lengthy period in a number of jurisdictions, in an investigation and potential proceedings by a major multi-lateral development bank.
  • A UK plc on responding to inquiries from the SFO, FCA and FRC regarding alleged false accounting practices.
  • A listed company operating in a regulated sector in relation to an investigation into certain anonymous whistleblowing allegations.
  • A global financial services company on a European enforcement investigation.

Jonathan’s Disputes work highlights include, in addition to those above, advising:

  • Credit Suisse in its defence to claims brought in the English High Court by the Republic of Mozambique arising out of the US$2bn financing of state tuna fishery and maritime security projects in the Republic of Mozambique between 2013 and 2016. In addition, Credit Suisse is counterclaiming in relation to defaulted loans.
  • Truck manufacturer MAN SE in its defence of one of the largest ever competition law follow-on damages proceedings in the UK courts and Competition Appeals Tribunal which cover multiple individual claims, group actions and competing applications for Collective Proceedings Orders.
  • Essex County Council on a factually complex and technically intricate commercial dispute in the Technology and Construction Court.
  • Advising a FTSE 100 multinational business regarding a threatened claim under s.90 of the Financial Services and Markets Act 2000 by current and former investors. The allegations relate to disclosures to the market in respect of its historical ethics and compliance practices.
  • Banco Santander Totta in a successful and ground-breaking case upholding the validity of interest rate swaps, which was the first case to be heard in the Financial List in the High Court and first appeal from that list to the Court of Appeal.
  • British Airways in its defence of multiple claims for damages in excess of £1 billion in relation to the alleged air cargo cartel, including the decision of the Court of Appeal in October 2015 to strike out significant parts of the claimants' case.
  • A global bank in relation to multiple, complex, high value claims arising out of the collapse of Kaupthing, an Icelandic Bank.
  • Philips on three significant follow-on damages claims arising out of infringement decisions of the European Commission.
  • An infrastructure conglomerate in relation to a dispute between the client and a Lebanese company regarding a contract for the operation and maintenance of Lebanese power plants.
  • A large global pharmaceuticals company in relation to an LCIA arbitration, brought by our client against an Indian pharmaceuticals company in relation to a dispute about conduct and liability for a historic tax matter which has given rise to a dispute with the Indian tax authorities.

Jonathan is “tenacious and charming”, a “real asset” and is ranked in Chambers and Partners 2024 for both Banking Litigation and Financial Crime: Corporates. He is “able to handle the most complex sophisticated disputes and is a very flexible thinker who is really all over the detail”. Chambers 2024, Banking Litigation.

Jonathan is listed in Legal 500 2024 as a Leading Individual for Banking Litigation: Investment and Retail. He is also recognised in Legal 500 2024 as a Next Generation Partner for Financial Services: Contentious and is noted as a Future Leader for Investigations - Partners 2023 in Who’s Who Legal.

Commentators state that Jonathan is “a superb lawyer”. Legal 500, 2024, Competition Litigation. Others add that he is “great to work with” and has a “breadth of experience acting for financial institutions” and wins praise as “a hardworking dedicated litigator”. Legal 500 2023, Commercial Litigation: Premium and Legal 500 2022, Banking Litigation: Investment and Retail