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

We are excited to announce the launch of the 2022 Global Bank Review: Banking on People. Surveying the current landscape of the financial sector in late 2022, it is hard to avoid the sense of an industry once again facing a severe squeeze. One thing is certain: global finance is currently facing mounting pressure to … Read more

Welcome to the Autumn 2022 edition of our biannual Banking Litigation Update, in which we highlight the most important cases and developments affecting UK financial institutions over the past six months. Read the full Banking Litigation Update here. We have also recorded a short video to provide a high level overview of developments during this … Read more

Herbert Smith Freehills LLP have published an article in Butterworths Journal of International Banking and Financial Law (JIBFL) on Russia’s default on its foreign currency sovereign debts from the perspective of potential disputes and litigation. Russia’s default on its foreign currency sovereign bonds is unprecedented and likely to lead to bondholder litigation as well as … Read more

Herbert Smith Freehills LLP have published an article in Bloomberg Law detailing the key legislative and/or regulatory solutions that jurisdictions have adopted to mitigate the risks raised by so-called “tough legacy” contracts following the discontinuation of the London Inter-Bank Offered Rate (LIBOR) on 31 December 2021 in nearly all currencies and tenors (with an extension … Read more