Ololade Saromi

Ololade accepts instructions in relation to the full range of banking and other finance disputes. He has recently been instructed to advise, draft, or provide advocacy in relation to:

• Secured lending disputes.
• Asset finance / finance leasing.
• Invoice finance and factoring.
• Frauds.
• Enforcement of securities, guarantees, and indemnities.
• Payment services disputes.
• Consumer credit and return of goods claims.
• Wrongful interference with goods / conversion.

Recent cases:

• Advising and drafting pleadings for an international factoring company based in the USA in a $650,000 claim against one of its clients based in the UK involving issues of fraudulent misrepresentation, procurement of breach of contract, and conspiracy to injure.
• Advising and drafting pleadings in a $500,000 investment-related claim raising issues of undue influence, unconscionable bargain, unjust enrichment, unlawful provision of regulated activities under the Financial Markets and Services Act 2000, joint venture agreements, and recission.
• Advising and drafting pleadings for a large asset-based lender in proceedings to recover over £100,000. The issues that arise include the determination of the governing contractual terms where there are two apparently competing contracts, the effect of redemption statements, unjust enrichment, estoppel by representation, and change of position.
• Advising, drafting pleadings, and representing a major high street bank in a mortgage possession case in which the issues that arise include the determination of what the originally agreed mortgage term was, complex account recalculations spanning 15 years, contract variation, and estoppel by convention.
• Represented a major high street bank in an application to rectify the particulars of a registered debenture it had taken as security for a commercial loan.
• Acted for the third-party purchaser of a Porsche 911 Turbo valued at £110,000 in the trial of a return of goods claim brought by a consumer finance company. The issues that arose included the identity of the parties to the governing contract and the application of the private purchaser in good faith without notice defence under s.27 of the Hire Purchase Act 1964.
• Successfully defended a major high street bank in a claim by a retail customer for the repayment of sums the customer had invested into a binary options trading account, opened with a third party, which incurred substantial losses. The claim was brought on grounds that the bank had failed to action a chargeback pursuant to the Visa Core Rules and Visa Product and Service Rules, and that the bank had treated the customer unfairly contrary to the FCA’s Principles for Businesses and Banking: Conduct of Business Sourcebook.
• Successfully resisted an application to set aside a possession order obtained by a finance company on grounds that the applicant had an overriding interest that took priority to the lender’s charge.
• Successfully defended a finance company in various claims brought against it by a number of its consumer credit customers. The customers argued that their loan agreements had given rise to unfair relationships under the Consumer Credit Act 1974 by reason of undisclosed commissions paid by the lender to the customers’ respective brokers.
• Acted for various high street banks and finance houses in proceedings to enforce their security over real property for various types of lending, including Regulated Consumer Credit Agreements and Regulated Mortgage Contracts.
• Acted for a factoring company in an application to join its client into a claim brought by the factor to collect a debt owed to the client by one of its customers. A key issue in the case was whether a non-assignment clause had been effectively incorporated into the contract between the client and the customer.
• Advised a large factoring company in a case valued at over £100,000 on whether its client’s terms of business had been validly incorporated into a supply of goods contract with the debtor and the enforceability of exemption clauses.
• Acted for a major high street bank in successfully resisting an application for a mandatory injunction and obtaining indemnity costs in the High Court. The case involved a foreign exchange transaction, where an importer of goods based in Africa, who believed it was paying invoices from its European supplier, was fraudulently induced into paying money into an account held with the bank.
• Represented a finance house in a claim to enforce a personal guarantee and indemnity given by a director of a restaurant business to secure an asset finance agreement. Successfully applied to strike out the director’s defence, obtained summary judgment and indemnity costs.
• Acted for a major high street bank in a claim brought by a retail customer who had been the victim of a cryptocurrency investment fraud.

Ololade has experience in general commercial litigation. He accepts instructions to advise, draft or provide advocacy in relation to:

• Breach of contract and the interpretation of contracts.
• Undue influence.
• Debt claims.
• Sale of goods and supply of goods and services.

Recent cases:

• Advising, drafting pleadings, and representing a London Borough Council in a claim brought against it by one of its external care services providers for unpaid invoices. Successfully obtained an order setting aside a default judgment of over £100,000. The issues that arise include the identity of the parties to the governing contracts, authority of a partner to enter into deeds on behalf of a partnership, and limitation.
• Advising and drafting pleadings for an international factoring company based in the USA in a $650,000 claim against one of its clients based in the UK involving issues of fraudulent misrepresentation, procurement of breach of contract, and conspiracy to injure.
• Advising and drafting pleadings in a $500,000 investment-related claim raising issues of undue influence, unconscionable bargain, unjust enrichment, unlawful provision of regulated activities under the Financial Markets and Services Act 2000, joint venture agreements, and recission.
• Advising and drafting pleadings for a large asset-based lender in proceedings to recover over £100,000. The issues that arise include the determination of the governing contractual terms where there are two apparently competing contracts, the effect of redemption statements, unjust enrichment, estoppel by representation, and change of position.
• Acted for a utility company in various service-related claims brought against it by customers and members of the public.
• Defended one of the UK’s largest car manufacturers in a claim brought by a well-known sporting personality. The primary question in the case was whether the parties had entered into an introducer agreement under which the claimant would be paid commissions for introducing to the defendant celebrities it later sponsored.
• Successfully represented one of the UK’s largest estate agencies in various claims against a number of the agency’s landlords who had attempted to evade the payment of contractual commissions.
• Represented the UK subsidiary of a US biopharmaceutical company in a claim against an international accountancy firm. The primary issue in the case was whether the parties had entered into a binding contract for services or were still in pre-contractual negotiations.

Ololade accepts all appropriate instructions in this area. His experience includes:

• Winding up and bankruptcy petitions.
• Bankruptcy annulments.
• Advising in disputes relating to preferences and transactions at an undervalue.
• Advising in applications for declarations and an order for possession and sale.

Recent cases:

• Represented the trustees in bankruptcy in their application for an order for possession and sale of a property which constituted a part of the bankrupt’s estate but over which a third-party claimed to hold a long lease.
• Acted for the trustees in bankruptcy in an application to terminate the bankrupt’s spouse’s notice of home rights and to have the notice removed from the register of title for the property.
• Obtaining orders for the substituted service of bankruptcy petitions.
• Resisted an application by debtors for additional disclosure by the petitioning creditor.
• Resisted an application to set aside a statutory demand.
• Advising a former bankrupt on the removal of bankruptcy notices and restrictions against their property from the Land Register almost 10 years after being discharged from bankruptcy.
• Appearing in various hearings of winding up petitions in the High Court.
• Appearing in various hearings of bankruptcy petitions in the County Court.

Ololade has a developing practice in company law and partnership, and accepts instructions relating to:

• Directors’ duties.
• Shareholder disputes.
• Unfair prejudice petitions.
• Derivative actions.
• Partnership disputes.

Recent cases:

• Advising, drafting pleadings, and representing a London Borough Council in a claim brought against it by one of its external care services providers for unpaid invoices. Successfully obtained an order setting aside a default judgment of over £100,000. The issues that arise include the identity of the parties to the governing contracts, authority of a partner to enter into deeds on behalf of a partnership, and limitation.
• Drafted company restoration proceedings.
• Represented a high street bank in an application to rectify the particulars of a registered debenture it had taken as security for a commercial loan.
• Advised and represented a hunting club in resisting an application for pre-action disclosure by the hunt’s supporters association. The association was attempting to prevent a merger between the hunt and another hunting club by challenging the validity of a vote at the hunt’s AGM in favour of the merger.

Ololade’s experience in property includes real estate and private, social, and commercial landlord disputes. He has advised, drafted, or provided advocacy in relation to:

• Rights of pre-emption.
• Forfeiture and relief therefrom.
• Orders for sale.
• Possession proceedings.
• Stays of warrants and writs.
• Setting aside of possession orders.
• Anti-social behaviour injunctions, including attaching powers of arrest.
• Committal proceedings for breach of injunction.
• Right to buy.
• Disrepair and dilapidations.

Ololade has an interest in developing the commercial elements of his property litigation practice and accepts all appropriate instructions in this area.

Recent cases:

• Advised on the prospects of success of a claim to rectify the terms of a commercial lease.
• Advising, drafting pleadings, and representing a major high street bank in a mortgage possession case in which the issues that arise include the determination of what the originally agreed mortgage term was, complex account recalculations spanning 15 years, contract variation, and estoppel by convention.
• Advised a developer on the enforceability of a right of pre-emption applying to a sizeable woodland it sought to buy.
• Drafted pleadings for and successfully represented a London Borough Council at trial in a claim brought by a social housing tenant seeking the reinstatement of their right to buy after it had been refused by the Council because the tenant had ceased to occupy the property as their sole or principal home.
• Successfully obtained an antisocial behaviour order, which included a power of arrest and exclusion from property provisions, for a housing association after a trial.
• Advised a nursery owner on an application for relief from forfeiture, which relied entirely on the High Court’s equitable jurisdiction, relating to the commercial premises from which the nursery had operated.
• Acted for a housing association in resisting an application for permission to appeal.
• Obtained an order for possession after trial for one of the largest housing associations in the UK in relation a property it had been induced to grant by reason of false statements made by the tenant.
• Successfully resisted an application to set aside a possession order obtained by a finance company on grounds that the applicant had an overriding interest that took priority to the lender’s charge.
• Acted for various high street banks and finance houses in proceedings to enforce their security over real property for various types of lending, including Regulated Consumer Credit Agreements and Regulated Mortgage Contracts.
• Obtaining an order for sale of property against which the management company had obtained a charging order securing a money judgment for unpaid service charges.
• Acted for a private landlord in a forfeiture claim on grounds of failure by a leaseholder to pay service charges and ground rent.
• Represented various private landlords in claims for possession on grounds of rent arrears.
• Appearing in various hearings in the First Tier Tribunal (Property Chamber).
• Appearing in the High Court in applications to stay various writs of execution.

• BPTC, Very Competent (“Outstanding” in, amongst others, Civil Litigation, Evidence and Remedies), University of Law, Birmingham, 2015
• LLB (Hons) (Law with Business Studies), University of Birmingham, 2012

• International Outgoing Pegasus Scholarship to Nigeria, Pegasus Scholarship Trust, 2020.
• BPTC Award, University of Law, 2014
• HH Paul Clark Scholarship, Middle Temple, 2014
• Accenture Strategy Prize (Business), University of Birmingham, 2012
• Birmingham Scholarship, University of Birmingham, 2012

Yoruba

• Vice Chair, British Nigeria Law Forum (BNLF).
• Commercial Bar Association (COMBAR).
• London Common Law & Commercial Bar Association (LCLCBA).
• R3.
• The Honourable Society of the Middle Temple.
• Co-Head, Junior Lawyers Division, BNLF, 2019 – 2021.

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