Banking Litigation Notes

High Court refuses Tesco's strike out application in s.90A FSMA group shareholder action

High Court finds in favour of Lehman administrator in respect of US $7 million trade error and implies term into otherwise "unworkable" debt security trade agreement

A recent High Court decision has found that it was necessary to imply a term into an otherwise unworkable debt security trade agreement: Lehman Brothers …

What securities litigators need to know about the new Prospectus Regulation

The new EU Prospectus Regulation (EU/2017/1129) (the “PR”) entered into full force and effect on 21 July 2019 across EU Member States. It replaces, in …

Herbert Smith Freehills contributes chapter to The Securities Litigation Review (5th Edition)

Herbert Smith Freehills have contributed the England and Wales chapter of The Securities Litigation Review. Now in its fifth edition, The Securities …

Shareholder class actions – new webinar and “handy client guide”

High Court orders Tesco to disclose SFO documents in s.90A FSMA shareholder class action

High Court refuses declarations sought by trustee of unsecured notes as to amounts due and payable by issuer

In Part 8 proceedings brought by the trustee of certain unsecured notes, the High Court has refused to exercise its discretion to grant declarations as …

High Court finds duty of care owed by arranger of capital markets transaction to investors

English High Court confirms that Sharia non-compliance will not affect the enforceability of an English law agreement in an Islamic finance structure

Court of Appeal upholds “no look through” principle in immobilised securities trading

The Court of Appeal has confirmed that an investor holding a beneficial interest in immobilised notes has no direct claim against the issuer of those …

Court of Appeal clarifies interpretation of default interest provisions under commercial mortgage backed securitisation documentation

The recent decision of the Court of Appeal in Credit Suisse Asset Management LLC v Titan Europe 2006-1 Plc [2016] EWCA Civ 1293 will be of …

Court of Appeal clarifies scope of potential liability under the Misrepresentation Act 1967

The recent decision of the Court of Appeal in Taberna Europe CDO II Plc v Selskabet (formerly Roskilde Bank A/S) (In bankruptcy) [2016] EWCA …