Banking Litigation Notes

Herbert Smith Freehills launches new banking litigation blog

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

Commercial Court gives guidance on definition of 'consumer' under Recast Brussels Regulation in cryptocurrency futures trading case

Court of Appeal finds ISDA jurisdiction clause trumps competing clause in related contract

The Court of Appeal's judgment in BNP Paribas SA v Trattamento Rifiuti Metropolitani SPA provides further assurance that jurisdiction …

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 …

Bi-annual Banking Litigation Update: October 2018 – April 2019

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 …

Court of Appeal emphasises the need to plead conspiracy claims in full

Court of Appeal gives guidance on scope of fiduciary duty in "secret commissions" case

The Court of Appeal has found that there was no breach of fiduciary duty where an introducing broker failed to inform its client investors of the amount …

Commercial Court rejects EURIBOR implied representations

The Commercial Court has dismissed claims that a bank made implied representations as to EURIBOR rate-setting in the context of selling an interest rate …

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