Shaun Tracey
Counsel
About
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.
Experience
- 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
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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
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Qualifications and admissions
- Attorney at Law, British Virgin Islands, 2017
- Attorney at Law, Cayman Islands, 2012
- Solicitor-Advocate, England & Wales, 2010
- 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
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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
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Publications and news
Articles
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Campbells authors Cayman Islands chapter in 2025 Chambers Enforcement of Judgments
This article provides the latest legal information on Enforcement of Judgments in the Cayman Islands.
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Campbells authors Chambers Enforcement of Judgment Guide – Cayman Islands
This article discusses enforcement of domestic and foreign judgments and arbitral awards, and asset identification in the Cayman Islands.
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Chambers Enforcement of Judgments 2023
Authored by Campbells' attorneys, these chapters discuss domestic judgments, foreign judgments, foreign arbitral awards, the 2019 Hague Convention on enforcing judgements as well as enforcement and digital assets.
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Campbells authors 2022 Enforcement of Judgments Chambers Guide
The Cayman Islands chapter discusses domestic judgments, foreign judgments and foreign arbitral awards.
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Campbells authors GLI International Arbitration Cayman chapter
This guide highlights key topics of arbitration agreements and procedures, enforcement of awards, investment of arbitration and decisions in the jurisdiction.
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Chambers Enforcement of Judgments 2021
Authored by Campbells' attorneys, these chapters discuss domestic judgments, foreign judgments, foreign arbitral awards, the 2019 Hague Convention on enforcing judgements as well as enforcement and digital assets.
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Global Legal Insights – International Arbitration Guide 2021, Cayman Islands
Andrew Pullinger and Shaun Tracey co-author the Global Legal Insights - International Arbitration Guide 2021, Cayman Islands chapter, which covers key topics including arbitration agreements and procedures, arbitrators, interim relief, arbitration awards, challenge and enforcement of awards, investment arbitration and decisions.
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Campbells Contributes to Chambers Enforcement of Judgments Guide: Cayman Islands
This edition discusses identifying assets, domestic judgments, foreign judgments and arbitral awards.
Client Advisories
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Arbitration rising: Four recent judgments of the Cayman Courts
The Cayman Islands courts have recently delivered four judgments concerning the law and practice of international arbitration, which is a growing feature of the offshore legal landscape.
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Privy Council dismisses Primeo’s final appeal in US$2bn Madoff litigation
In a long-awaited and wide-ranging judgment delivered on 15 November 2023, the Judicial Committee of the Privy Council has dismissed the appeal by Primeo Fund against the 2019 dismissal of its appeal to the Cayman Islands Court of Appeal of the dismissal of its claims against two HSBC Group companies by the Grand Court of the Cayman Islands in 2017.
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FamilyMart: Privy Council confirms the primacy of arbitration agreements in the Cayman Islands
In an eagerly awaited judgment of the Judicial Committee of the Privy Council (“JCPC”) delivered on 20 September 2023 in FamilyMart China Holding Co Ltd v Ting Chuan,[1] the JCPC addressed whether an arbitration agreement in a shareholders’ agreement prevents a party to that agreement from pursuing a petition to wind up the company which is the subject of the dispute.
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Cayman Islands Courts roll out judicial mediation of disputes
The Courts of the Cayman Islands have introduced new measures concerning the judicial mediation of disputes, which continues a trend towards the increasing use of alternative dispute resolution methods.
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GOL! Privy Council upholds Cayman Court of Appeal decision to enforce foreign arbitral award in favour of Brazilian airline
This judgment reaffirms as a matter of Cayman law the orthodox view that the enforcing court has only a limited function aimed at promoting the finality of arbitral awards, and that awards will readily be enforced in the Cayman Islands in almost all cases.
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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.
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Campbells authors Cayman Islands chapter in 2025 Chambers Enforcement of Judgments
