Banking Litigation Notes

Commercial Court adopts broad interpretation of investment bank fee clause in equity and debt finance raising

Applying a commercial approach to the fees payable under an engagement agreement, the Commercial Court recently decided in favour of the claimant …

High Court confirms LMA anti set-off clause applies to equitable set-off

On a recent summary judgment application, the High Court has given effect to an anti set-off clause on standard Loan Market Association ("LMA") terms to …

Commercial Court grants summary judgment in favour of defendant bank in FX de-pegging case

Court of Appeal confirms ISDA 1995 Credit Support Annex does not provide for payment of 'negative' interest

The Court of Appeal has upheld the High Court's decision that 'negative interest' is not payable by a Transferor of cash collateral under the standard …

High Court applies contractual interpretation principles in collateralised loan obligation transaction

Letters of Instruction: Banks' liability to third parties clarified by Court Of Appeal

The Court of Appeal has held that a letter of instruction ("LOI") between a bank and its customer conferred a benefit on third party investors. The …

Important High Court guidance on the limits of determining party's discretion when calculating Loss under the 1992 ISDA Master Agreement

High Court considers contractual construction of guarantees

The High Court has recently considered a number of questions of contractual construction in the context of guarantees: Barclays Bank plc v Price …

High Court Strikes out claim alleging an implied overarching 'customer agreement' requiring the parties to "cooperate with each other and act in good faith".

Standish & Ors v The Royal Bank of Scotland plc & Anor [2018] EWHC 1829 (Ch) will be of interest to financial institutions seeking to …

Commercial Court finds that 'negative' interest is not payable on cash collateral posted in accordance with the standard form ISDA Credit Support Annex

The question of whether 'negative interest' will be payable by a transferor of cash collateral in the context of a standard form ISDA 1995 Credit Support …

Court of Appeal holds no real prospect of success for claim alleging contractual obligations owed by a bank to its customers in the conduct of FCA review

The Court of Appeal has refused the claimants permission to appeal in the most recent interest rate hedging product ("IRHP") mis-selling claim to come …

Supreme Court provides clear guidance on liability to third parties for bankers' references: clarifying the circumstances where banks will be liable for incorrect information