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A recent judgment handed down by the High Court will be of interest to financial institutions following developments in securities class actions: Various Claimants v Serco Group plc [2023] EWHC 119 (Ch). The decision considers the identity of sample claimants, for the purpose of a split trial order. For those monitoring the risk profile of … Read more
The Court of Appeal has dismissed the appeal of a bank employee, finding that the bank did not owe a novel duty to take reasonable care to avoid the risk of the employee being convicted, and that there was no implied term of the employment contract that the bank would indemnify the employee against loss … Read more
We recently published a blog post on the Supreme Court’s judgment in Stanford International Bank Ltd (In Liquidation) v HSBC Bank plc [2022] UKSC 34, in which the Supreme Court upheld the Court of Appeal’s decision to strike out a claim brought by the liquidators of a Ponzi scheme against its correspondent bank, alleging that the … Read more
We have just released the next edition of our monthly update podcast, in which we discuss and debate the key recent judgments likely to be of interest to financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by co-host Ceri Morgan and special guest Harriet … Read more
The High Court has considered the impact of the UK sanctions against Russia on various aspects of litigation involving a sanctioned party: PJSC National Bank Trust v Mints [2023] EWHC 118 (Comm). The judgment raises important questions of law with wide implications for litigation involving sanctioned entities. The court’s key finding was that the UK sanctions do … Read more
The High Court has dismissed a claim made by a borrower that a lender’s appropriation of certain shares secured by a charge, upon default in a loan arrangement, was invalid and that the valuation of the appropriated shares was commercially unreasonable: ABT Auto Investments Ltd v Aapico Investment PTE Ltd & Ors [2022] EWHC 2839 … Read more
The High Court (Chancery Appeals Division) has allowed a lender’s appeal of a District Judge’s decision to set aside statutory demands made against two guarantors, following a borrower’s default under a loan facility: Sibner Capital Ltd v Jarvis [2022] EWHC 3273 (Ch). This decision will be of interest to financial institutions seeking to exercise a … Read more
The Supreme Court has upheld the Court of Appeal’s decision to strike out a claim brought by the liquidators of a Ponzi scheme against its correspondent bank, alleging that the bank breached its so-called Quincecare duty to take sufficient care that monies paid out from the accounts under its control were being paid out properly: … Read more
We have just released the CHRISTMAS SPECIAL edition of our monthly update podcast, in which we discuss and debate the key recent judgments likely to be of interest to financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guests Elena … Read more