Shaun Tracey - Senior Associate, Campbells Grand Cayman - Commercial Litigation


Shaun is counsel in our Litigation, Insolvency & Restructuring Group. Shaun represents investment funds, directors, trustees, professional firms and their insurers in high-value litigation and arbitration. He is an expert in professional liability and is the author of Don’t Shoot the Advisor: A defence lawyer’s guide to protecting your position and preventing lawsuits. Shaun joined Campbells in 2014, having trained and practised at Simmons & Simmons in London.


  • Commercial litigation – advice and advocacy in a wide range of high-value disputes, including obtaining interim relief (such as anti-suit injunctions) and bringing enforcement proceedings in respect of foreign judgments and arbitral awards
  • Professional liability litigation – defending professional firms against multi-million dollar negligence claims
  • Acting for directors of investment funds
  • Insolvency litigation – acting for liquidators and creditors in contested insolvency proceedings usually involving investment funds
  • Trusts litigation – acting for professional trustees in contested proceedings
  • Insurance litigation – advising upon policy coverage disputes
  • Fraud and regulatory investigations
  • Labour tribunal, probate disputes and other civil litigation

Work Highlights

  • Successfully defending HSBC against a $2 billion claim brought by Primeo Fund (in liquidation) in respect of the Bernard Madoff fraud. The case went to a four-month trial in the Grand Court and judgment was upheld on appeal to the Cayman Islands Court of Appeal. The case is now before the Privy Council
  • Acting succesfully for professional trustees in defending an action brought by potential beneficiaries to set aside the trust settlement, worth approximately $300 million, in the Perry v Lopag litigation
  • Acting in the defence of a Cayman Islands audit firm in an ongoing audit negligence arbitration
  • Acting in the defence of numerous commercial law firms with respect to high-value negligence claims
  • Acting for the liquidators of the Soundview companies which were used as part of a Ponzi scheme that allegedly defrauded US municipal pension schemes, including co-operating with the Chapter 11 Trustee and her US counsel
  • Acting for the liquidators of the Pacific Harbor investment fund in contentious proceedings
  • Acting for a creditor in the Platinum Partners insolvency (a $1 billion hedge fund failure) whose claim arose from Platinum’s default on its swap contracts involving Asian securities.
  • Advising a multinational company in respect of a UK Serious Fraud Office investigation into the UN Iraqi Oil-for-Food scandal

Qualifications and Admissions

  • Attorney at Law, British Virgin Islands, 2017
  • Attorney at Law, Cayman Islands, 2012
  • Solicitor-Advocate, England & Wales, 2008
  • Solicitor of the Supreme Court of England & Wales, 2005 (currently non-practising)
  • College of Law, Legal Practice Course (Distinction), 2002
  • University of Nottingham, BA (Hons), 2000

Prior Career History

  • Appleby, Cayman Islands (2011-2013)
  • Client secondments: Barclays (2006) and Travelers insurance company (2010)
  • Simmons & Simmons, London (2003-2011)

Professional Associations

  • Secretary, Cayman Islands Chapter of the Chartered Institute of Arbitrators
  • First Judicial Assistant to the Chief Justice of the Cayman Islands
  • President, Cayman Islands Chess Federation
  • Professional speaking and training

Publications and News


Client Advisories

  • Primeo v HSBC: Privy Council further narrows the reflective loss principle.
    In a significant judgment delivered on 9 August 2021 in the long-running litigation between Primeo Fund (in Official Liquidation) and HSBC, the Privy Council granted the first limb of Primeo’s bifurcated appeal against the lower courts’ dismissal of its claims on the grounds of reflective loss. The decision further narrows the reflective loss principle in important respects following the UK Supreme Court decision in Sevilleja v Marex Financial Ltd last year.