The Legal Cheek View
4 Stone Buildings is a small but mighty commercial chancery set made up of over 40 leading members, including 13 KCs. The nature of the work has evolved over the years; originally a predominantly chancery set, it now focuses mainly on work with a commercial element, though the practice remains commercial chancery rather than pure commercial. Financial services, banking, restructuring and insolvency, and shareholder disputes are all key sources of work for tenants at this impressive set.
The wide range of interesting work on offer is one of the key attractions for aspiring barristers. Tenants tell us there is “never a dull moment”, with the set having handled matters including Lehman Brothers entering insolvency, the collapse of the Maxwell empire, and litigation concerning LIBOR manipulation. One insider notes: “The work that I do (both led and as sole counsel) is always varied and generally high-quality. Each case raises interesting factual or legal points and I am rarely bored at work.” There are also opportunities for international work, with chambers having particular experience in the Caribbean and the Far East, as well as a now-annual Dubai conference.
The versatility of the work, and the frequent difficulty of defining it into neat categories, means that 4 Stone Buildings belongs to both the Commercial Bar Association and the Chancery Bar Association.
Recent highlights include Jonathan Crow KC and Guy Olliff-Cooper securing success for former majority stakeholders of Yukos against the Russian Federation in one of the largest arbitration awards on record, amounting to over $66 billion. Tiran Nersessian, Albert Sampson, and Josh O’Neill successfully secured £122 million in damages in a claim involving faulty PPE imported into the UK during the pandemic. Zara McGlone secured a victory for the Secretary of State for Education in an alleged claim of misfeasance in public office and negligence.
Historic headline cases include Donald Lilly KC’s involvement in ongoing litigation against Russian oligarch Ziyavudin Magomedov, who was sentenced to 19 years in prison for fraud and embezzlement; Crow KC and James Knott’s work on a landmark Supreme Court case clarifying the law on knowing receipt; and Crow KC’s representation of the London Metal Exchange in a high-profile claim concerning the cancellation and suspension of nickel trades.
From the junior perspective, one insider tells us that “the work at 4SB is a great mix of complex, high value litigation where juniors work in teams with more senior barristers, and smaller matters where juniors run the case and do the advocacy.” There is also a good combination of general contractual disputes and technical issues such as insolvency, meaning a balance of court appearances and research. Whilst it is possible to specialise in certain areas later in a career, most members retain a broad practice.
Within chambers, there is an open-door policy and always someone available to help with a complex case. One junior notes: “Members are very approachable and are always willing to talk through any tricky points of law, ethics or practice.” The “truly excellent” clerks are equally on hand: “If a problem has arisen, the clerks have always gone out of their way.”
The clerks are also supportive when it comes to work/life balance. Whilst there are inevitable peaks and troughs, “the clerks are extremely supportive in that regard and make sure that the barristers don’t burn themselves out.” Another tenant adds: “Barristers are free to decide their own hours and the amount of work they take on to fit with their personal and family life. We really do retain autonomy over our practices.” As one member sums up: “I consider myself extremely fortunate to work among such lovely people.”
For those wanting to spend more time with their colleagues, 4 Stone Buildings regularly holds a chambers tea where members can chat about work or catch up informally. A recent addition is Thursday drinks in the clerks’ room. There are a few social events each year, including summer and Christmas parties, though the social calendar is somewhat lighter than at other sets. As one tenant puts it: “It is fair to say we are not a set full of party animals.” Chambers do, however, participate in annual charitable events such as the London Legal Walk and the City of London 5K race.
4 Stone Buildings takes its social responsibilities seriously, with pro bono work playing a significant role. Joint head of chambers Sharif Shivji KC is Chair of Advocate, the Bar’s pro bono organisation, while Andrew de Mestre KC chairs the Chancery Bar Association’s pro bono committee. The set has also recently established a Green Committee to focus its environment-related CSR initiatives and participates in both the Pro Bono Patron Scheme and the CO:IN Pro Bono Scheme.
The set is housed in a historic building in Lincoln’s Inn, just outside which sits a “stunning 18th century quad.” Inside, each barrister has their own room with, as one member notes, “incredibly high ceilings.” The only downside is that rooms can be quite chilly in winter. Members are free to decorate their own rooms as they wish.
The IT system runs smoothly, with a “brilliant” team on hand when issues arise. “We have a great IT manager who is available at all times to assist us. She is a real superstar!” praised one insider. The set has also recently improved access to online legal resources and introduced a new secure cloud-based platform.
Those wishing to complete pupillage at 4 Stone Buildings must apply through the Pupillage Gateway and will be assessed on intellectual ability, as well as the competencies set out in the Bar Standards Board’s Professional Statement for Barristers, which covers working with others, professional standards, and personal values. Those scoring highest on the written application will be invited to interview. Notably, 4 Stone Buildings operates a single-round interview process, with the strongest performers receiving a pupillage offer.
Those fortunate enough to secure one of two to three pupillages on offer each year will receive a generous award of £80,000. Each pupil sits with four different supervisors, reading papers, attending conferences, drafting documents, writing opinions, and accompanying supervisors to court. There are also opportunities to complete work for other members should particular areas of interest arise. Unlike many commercial and chancery sets, the second six is not practising; the emphasis throughout remains on learning. All pupils are provided with a mentor and are encouraged to attend events such as chambers tea. One recent pupil describes it as “a comprehensive, supportive and enriching process.”
4 Stone Buildings welcomes applicants from all backgrounds and participates in a wide range of initiatives to enhance diversity at the Bar, including the COMBAR Social Mobility Mentoring Scheme, Bridging the Bar, 10,000 Black Interns, and the Bar Placement Scheme.