Banking Litigation Update

In this update we summarise some of the more important cases and developments affecting UK financial institutions over the first half of 2014. Please read our full briefing here. Read more

Conflicts of interest and sufficiency of “ethical screens” (information barriers)

A recent decision of the Commercial Court has reinforced the high threshold professional firms must meet to persuade a court as to the adequacy of information barriers put in place to prevent the disclosure of one client’s confidential information that is potentially relevant to an engagement for another client. Georgian American Alloys, Inc and others … Read more

Liability of credit rating agencies confirmed by Australian Appeal Court

The Full Federal Court in Australia has confirmed that, as a matter of Australian common law, a rating agency owes a duty of care to investors in a rated financial product. As such, the rating agency must exercise reasonable care and skill in the issue of the credit rating. The essential basis on which the … Read more

Supreme Court refuses permission to appeal in two mis-selling claims

The Supreme Court has refused permission to appeal from two recent Court of Appeal judgments involving high-profile mis-selling claims against banks.  The result of the Supreme Court decisions is to put an end to one of the claims but to allow the other to proceed to trial in the High Court. LIBOR claims – Unitech v Deutsche … Read more