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In the context of a claim by a sovereign wealth fund against a bank (and others) in relation to a derivatives investment, the High Court has allowed the defendant bank’s application for reverse summary judgment, finding that the fund’s claim was statute-barred and had no realistic prospect of extending the limitation period under section 32 … Read more
The High Court has dismissed a claim by a currency debt management firm against three banks in a banking group, which included allegations of front running and/or trading ahead in relation to the execution of certain stop-loss orders (SLOs) in 2006. In doing so, the court found that the claim was time-barred as the claimant … Read more
This week, the Critical Benchmarks (References and Administrators’ Liability) Act 2021 received Royal Assent and will now pass into UK law. The Critical Benchmarks Act represents the final part of the UK’s legislative framework to deal with LIBOR cessation and its passage is welcome news, particularly with the hard deadline for most currencies of LIBOR … Read more
The High Court has granted a bank’s application to strike out a defendant customer’s counterclaim, finding that it was barred by a settlement agreement relating to an earlier set of proceedings between the parties, and that the customer could not demonstrate any real prospect of showing that the settlement agreement should be set aside: Bank … Read more
In the context of a claim brought by a bank against a valuer, seeking damages in respect of a negligent valuation report for land representing the bank’s security, the Board of the Privy Council has allowed an appeal by the valuer on the basis that the losses claimed did not fall within the scope of … Read more
In this special edition of our banking litigation podcast, we consider some key issues on the topic of privilege which will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by Ceri Morgan, a professional support consultant in our banking litigation team, who is joined by Claire Nicholas and … Read more
Join Mark Smyth, Jojo Fan, Benjamin Rubinstein and Sousan Gorji as they discuss global greenwashing issues in the banking sector. You can read more insights in our Global Bank Review. You can also listen on Apple, Spotify and SoundCloud. Please subscribe to our Financial Services Disputes & Regulation podcast channel here to listen to our … Read more
Our Financial Services Regulatory colleagues have published a blog post on the FCA’s Consultation Paper 21/36 (CP 21/36) which includes proposed new rules and guidance setting out a Consumer Duty which it considers will “fundamentally shift the mindset of firms” and establish an appropriate level of care to consumers. The consultation is open until 15 February … 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 guest Scott … Read more
