Peter Clucas Managing Director
DD: +44 1624 638361
Profile.Back to team
Peter is Cains’ Managing Director and head of our top tier Litigation team. He has been repeatedly recognized as a leading practitioner in the Isle of Man and regularly advises clients on strategy and procedure relating to international and domestic commercial disputes, insolvency and money laundering matters. His clients include financial institutions, insurance companies, multi-jurisdictional trust companies and HNWIs as well as acting on instruction from major international law firms.
He has considerable experience advising on cases involving court approved corporate restructuring and business transfer schemes.
Peter appears as counsel in cases before the Isle of Man High Court and the Isle of Man Appeal Court and also has experience of appearing before the Island’s Financial Services tribunal.
His longstanding reputation is endorsed by his ‘Hall of Fame’ standing with The Legal 500, due to his ability to handle some of the Islands’ largest injunction and civil fraud instructions. Clients have commented on Peter as being “very professional, experienced, very responsive and good attention to detail” and “a credit to his profession”.
- Chambers and Partners Banking & Finance 2019 Second Edition: Isle of Man
- Chambers Global Practice Guide – Banking and Finance 2021
Services and Sectors
Click to view case history:
Kaupthing Singer and Friedlander (Isle of Man Limited, in liquidation)
Acted for liquidators in connection with winding up and liquidating a bank.
Isle of Man financial Services Authority
Represented the financial and corporate services regulator in connection with the making of Island’s first prohibition notices under local financial services law.
Breton v Petrodel Resources Limited
Acted for the claimant in seeking a winding up of an Isle of Man company in which interesting questions as to jurisdiction of court to recognise foreign judgments was considered.
Manx Telecom plc
Acted for LSE listed local utilities company in obtaining court sanction to a scheme of arrangement to transfer business valued at approximately £250 million.
Isis Investments Limited v Kaupthing hf and others
Advised liquidator of Isle of Man company in relation to claims to set aside pre-liquidation transactions resulting in a court approved settlement effected by a scheme of arrangement.
Re Impex Limted
Represented foreign provisional liquidator in obtaining judicial assistance at common law to allow liquidator to exercise powers in Isle of Man.
Re Dominator Limited
Acted for claimant in obtaining limitation decree to limit liability for a casualty which occurred in Spanish maritime waters.
Gulf Hibiscus ltd v Lime Petroleum plc
Advised and representing a minority shareholder in seeking permission to bring derivative claims in the name of the company.
Lumsden ltd and Others v Liggins and Others
Acted for financial institution in action for damages arising from a failed timeshare scheme in which issues of director duties and dishonest assistance were determined.
LCL International Life Assurance Limited
Represented an Isle of Man authorised insurer in relation to a number of court approved insurance transfer schemes.
BT Manx Investments Limited
Represented company in obtaining court sanction for a £150 million capital reduction.