Mark Holligon is a partner and Group Head of the Dispute Resolution department in the Isle of Man. His expertise spans the contentious and non-contentious arenas, both onshore and offshore, with a focus on commercial litigation, insolvency and restructuring. He has a particular interest in distressed funds and their restructuring.
He has been involved in many of the largest cross-border insolvencies of the past decade. He began his career in England, qualifying in the City of London in 1995 and gaining experience with two further leading UK firms before moving to Walkers in the Cayman Islands in 2003 and on to the Isle of Man in 2008.
Mark was named as a ´Leader in his Field´ by Chambers UK from 2015 to 2017 and as a ´Leading Individual´ in Legal 500 UK from 2015 to 2018 within Dispute Resolution.
In the most recent Legal 500 UK guide, Mark is described as being “extremely good in the fields of freezing injunctions and insolvency”, with the Dispute Resolution team labelled “first-class in the field of dispute resolution and the leading firm on the Isle of Man”. In a previous edition, Mark has been commended by Legal 500 UK for being “commercially sensible and user-friendly”.
Chambers UK has refereed to Mark as being “very thorough” and “very astute” and that he “is everything a litigation lawyer should be”. In addition, “he articulates things extremely well and is very confident. I wouldn´t want to be on the other side”.
Chambers UK 2019 interviewees regard Mark as being “very good indeed”, adding: “he is well practised, good on his feet and knows how to present to the court”.
Mark was also described in Who’s Who Legal Asset Recovery 2015 as an “extremely accomplished” practitioner.
Some examples of Mark’s recent work includes:
- Obtaining world-wide freezing orders and ancillary relief in connection with a substantial fraud.
- Acting for majority shareholders in dispute over control of natural resources exploration company.
- Acting for a large listed company in a takeover effected by way of a scheme of arrangement.
- Defending the enforcement of a multi-million dollar arbitral award.
- Acting for the liquidators of investment funds that had suffered losses in excess of US$1bn in the collapse of 2007/08.
- Acting for the liquidators of an offshore subsidiary of a major UK IT supplier in its restructuring, rescue and sale as a going concern.
- Acting for a national financial services regulator in winding up an investment fund in the public interest.
- Acting for a national government in connection with a scheme of arrangement to save a collapsed bank.
- Acting for the special servicer of a secured lender in successfully making the first ever application to the Manx Court to obtain a Letter of Request to the English Court to place a Manx company that has its Centre of Main Interest in the Isle of Man, into administration in England.
- Advice to board on successful restructuring of Manx fund invested in non-correlated alternative asset class and related regulatory issues.
- Acting for Manx fund in creating a side pocket for illiquid asset through the use of a Court sanctioned Scheme of Arrangement. This is believed to be the first time the Manx Court has approved split voting by nominees at a Scheme Meeting.
- Acting for former trustee of Manx unit trust invested in UK property in connection with a contribution claim by IFAs who had been sued for mis-selling.
- Advising the protector of a trust in connection with claims by beneficiaries.
- Acting for the settlor of a number of Isle of Man trusts that were subject to an SEC investigation in connection with a letter of request for judicial assistance issued by a New York Court requesting the Manx Court to require certain Respondents to attend and give testimony in the Isle of Man for use in US civil proceeding.
- Acting for a leading High Street bank in the Isle of Man’s first ever bank transfer scheme.
“He is well practised, good on his feet and knows how to present to the court.”