Celso De Azevedo FCIArb

Celso has a broad practice encompassing commercial and contractual disputes.

Having written books on Cyber Insurance and Business Interruption insurance, Celso regularly advises re/insurers and policyholders on coverage disputes involving dishonesty, fraud, misrepresentation, non-disclosure and avoidance issues, breaches of warranty and conditions precedent.

Cyber and D&O

Notable cases include:

• Advising major UK insurer in relation to ‘silent’ cyber risks exclusions to be used in property and construction reinsurance treaty programmes.
• Advising policyholder in the negotiation of cyber liability policy terms to cover cyber security web-platform for cryptocurrency exchanges.
• Advising South American retailer in relation to international cyber insurance programme and use of London captive.
• Advising management board of social media platform on cyber risks and D&O insurance requirements relating to UK and US policy placements.
• Advising management board of blue-chip defence intelligence company on cyber risks insurance, cyber security policies and D&O compliance.
• Acting for London reinsurers in D&O claims in Latin America relating to multi-million US dollars fraud and criminal investigations involving interpretation of defence costs, back-to-back issues and follow the settlements clause.
• Acting for London reinsurers on coverage and settlement strategy relating to historical and ongoing claims under a D&O Reinsurance policy of a Central American oil major’s insurance programme.

Celso regularly appears before the High Court in ransomware, cryptocurrency and data theft urgent injunctions against hackers and cryptocurrency exchanges, including worldwide and domestic freezing orders, disclosure, Norwich Pharmacal and Banker’s Trust injunctive relief.

Notable cases include:

• Obtaining urgent freezing injunction, disclosure, Norwich Pharmacal and Banker’s Trust injunctive relief on behalf of victim of cryptocurrency investment fraud against fraudsters and foreign cryptocurrency exchange holding victim’s crypto-assets.
• Obtaining non-disclosure, non-interference and self-identification injunction order against hackers in data theft extortion in multi-million pounds ransomware case on behalf of large UK corporation.
• Acting for several cryptocurrency fraud victims in social engineering theft and fraud cases.
• Acting for corporation in a claim due to a fraudulent push payment scam, impacting on a social engineering exclusion in a cyber liability policy.
• Acting for Greek bank in application for freezing injunction and asset tracing claim against UK company in fraud scam of warehousing services.

Celso has extensive experience in advising and acting for international insurers and reinsurers (including Lloyd’s syndicates) in relation to back-to-back, follow the settlements, claims co-operation and control clauses as well as the operation of multi-jurisdictional reinsurance arbitration clauses.

Celso has regularly acted in re/insurance disputes in most classes of insurance, including professional indemnity, public liability, construction, engineering, E&O, casualty, offshore energy and financial risks.

Business Interruption Insurance

• Advising several policyholders, such as national electrical equipment retailers, R&D biotech laboratories and care providers, in relation to potential business interruption policy claims arising out of Covid-19 restrictions.
• Acting for reinsurers on multi-jurisdictional issues arising from All Risks Property Insurance Programme of major steel plant in largest South American business interruption losses, settled for over US$500 million, arising from the collapse of dust collector.
• Acting in US$200m international arbitration on behalf of London reinsurers relating to contingent Business Interruption Insurance losses arising from damage to supplier of major steel plant in South America.

Construction, Offshore and Marine Insurance

• Acting for Far Easter insurers in relation to WELCAR claim against reinsurers concerning exclusion to existing property and buy-back extension of coverage in a Damage to Existing and/or Surrounding Property Clause.
• Acting for London reinsurers in relation to a Construction Reinsurance claim by a South American government due to design defects in the construction project of a highway.

Celso is an expert on emerging technology multi-jurisdictional disputes relating to cryptoassets recovery, cyber breach response and technology contracts. He regularly appears before the High Court in ransomware, cryptocurrency and data theft urgent injunctions against fraudsters, hackers and cryptocurrency exchanges, including worldwide and domestic freezing orders, disclosure, Norwich Pharmacal and Banker’s Trust injunctive relief.

Notable cases include:

• Boonyaem v Persons Unknown Category (A) & Ors [2023] – freezing injunction and summary judgment obtained on behalf of foreign based victim against fraudsters in multi-jurisdictional cryptocurrency investment scam.
• Scenna v Persons Unknown and Others [2023] – acting for fraud victim on forex online investment scam in relation to multi-jurisdictional recovery claims and injunctive relief.
• Mannarino v Persons Unknown, Huobi Global Ltd & Ors (BL-2022-000911) – freezing injunction and default judgment obtained on behalf of foreign-based victim against fraudsters and cryptocurrency exchange and disclosure orders in multi-jurisdictional cryptocurrency investment scam.
• Ward Hadaway LLP v Person or Persons Unknown (QB-2022-001109) – acting for ransomware victim in obtaining non-publication injunction against hackers who attacked IT system.

Celso has extensive expertise in complex multi-jurisdictional commercial arbitrations and court proceedings worldwide, involving International Trade, Shipping and Commodities disputes. Celso has regularly advised shipowners, exporters, major foreign oil companies and traders in respect of breaches of charter parties, letters of credits and bills of lading relating to international sales and cargo losses, as well as issues arising from defective trans-shipment of goods and poor management and operation of a ship.

Notable cases include:

• Advising P&I insurers of shipowners in LMAA claims against charterers for repudiatory breach of charterparty and non payment of hire; obtaining worldwide freezing orders in England and in Singapore so as to arrest fleet of vessels in several jurisdictions.
• Acting on behalf of London reinsurers in US$80m international arbitration against South American insurer in relation to Machinery and Equipment Insurance losses at a wind generation energy construction project.
• Acting for port terminal owners in ad hoc arbitration claims for breach of services agreement by shipowner/terminal user and wrongful termination.
• Acting on behalf of Spanish purchaser of steel coils in LCIA claim for breach of letters of credit terms against UK seller due to misdelivery of steel coils.
• Acting for London Hull underwriters in relating to shipowners’ Marpol criminal investigations relating to Marpol violation insurance claim in the USA.
• Acting for Middle Eastern reinsurer as to FSA and Lloyd’s regulatory breaches by Lloyd’s broker and possible complaint procedures.
• Acting for London reinsurers in arbitrations in London and Brazil arising from several claims under a Port Liability Reinsurance Treaty covering warehouses and claims for mould contamination, flooding and other matters.
• Acting for London reinsurers in reinsurance arbitration arising from Property Insurance Programme of major multinational pharmaceutical manufacturer relating to business interruption losses due to fire to warehouse.

Alongside his strong cyber, D&O, construction and marine offshore insurance practice, Celso has advised in property disputes that raised insurance, business interruption, delay in start-up, insolvency and conflicts of laws issues.