Thomas W.Besant (Tom)

Associate

London + 44.20.7039.5438

Tom Besant represents large corporations and individuals in various contentious matters, including fraud, insolvency, antitrust, and contractual disputes. He has extensive experience in both litigation and arbitration. The Legal 500 describes him as a "superb drafter and surefire partner of the future" and as a "future star."

Tom's recent experience includes representing: the liquidator of Comet, the former UK high street retail giant, in the largest ever preference clawback claim successfully brought under the United Kingdom's 1986 Insolvency Act; Mastercard in its groundbreaking defense of numerous multibillion pound claims, alleging that its interchange fees and certain network rules are anticompetitive; and a leading United Arab Emirates bank in its efforts to recover substantial sums due under various loan instruments, as part of which injunctive relief was successfully obtained in the United Kingdom, Jersey, the British Virgin Islands, and France in support of substantive proceedings in the UAE.

In 2018 and 2019, Tom spent seven months seconded to the litigation and regulatory team at Goldman Sachs in London where he advised on a range of matters across Europe, the Middle East, and Africa (EMEA).

Experience

  • Mastercard wins limitation judgment in retailer interchange fee litigationIn its ongoing representation of Mastercard International Inc., Jones Day won a Competition Appeal Tribunal judgment on limitation issues in the retailer interchange fee litigation in the United Kingdom.
  • Comet liquidator obtains £100m+ judgment on leading Insolvency Act preference claimJones Day represents Geoff Carton-Kelly, liquidator of CGL Realisations Limited (formerly Comet Group Limited), in successfully obtaining a £100m+ judgment against Darty Holdings SAS by way of a preference claw back claim arising from the retail giant's collapse into administration in November 2012.
  • MasterCard defeats UK litigation claim regarding interchange fees for payment card transactionsJones Day client MasterCard Incorporated has defeated a lawsuit brought by various UK retailers seeking £450m in damages for losses allegedly suffered as the result of MasterCard's arrangements for setting default interchange fees on payment transactions.
  • Kazakh bank pursues US$30 million fraud claims in England and WalesJones Day acts for a Kazakh bank in tracing assets and pursuing claims in England and Wales arising out of a significant fraud perpetrated against the bank valued at approximately US$30 million.
  • Private equity investor resolves dispute relating to substantial investments in a regulated pensions business in AfricaJones Day acted for a private equity investor in a dispute under a subscription and noteholder agreement (and associated documents) relating to substantial investments in a regulated pensions business in Africa.