Interpreting ICC standardised rules in trade finance disputes: courts take an international perspective

Herbert Smith Freehills LLP have published an article in Butterworths Journal of International Banking and Financial Law on interpreting International Chamber of Commerce (ICC) standardised rules in trade finance disputes. Banking practice in areas of trade finance such as demand guarantees and letters of credit is standardised by a collection of contractual rules published by the ICC. … Read more

High Court confirms no abuse of process or exceptional grounds for partially striking out/staying parallel English proceedings brought by a Bank in relation to a swap claim

The High Court has dismissed an Italian municipal authority’s application to strike out certain parts of the claimant banks’ particulars of claims and/or for a stay (in relation to a declaratory relief claim in connection with two interest rate swap transactions): Banca Intesa Sanpaolo SPA and Dexia Credip SPA v Commune Di Venezia [2020] EWHC … Read more

Latest guidance from the Court of Appeal on asymmetric jurisdiction clauses

The Court of Appeal has held that an asymmetric or unilateral jurisdiction clause is an exclusive jurisdiction clause for the purposes of the recast Brussels Regulation. The English court was therefore entitled to continue with its proceedings where it was the chosen court but proceedings had been commenced earlier in Germany: Etihad Airways PJSC v … Read more

New Webinar Available: Dispute Resolution Choices for Banks and Financial Institutions – Maximising the Chances of Successful Enforcement

Choice of dispute resolution forum can have a fundamental impact on the ability of banks and financial institutions to enforce contractual obligations. In our client webinar on 23 September, Dispute Resolution Choices for Banks and Financial Institutions: Maximising the Chances of Successful Enforcement, Julian Copeman, Nick Peacock and Hannah Ambrose discussed recent trends in dispute … Read more