Banking Litigation Notes

LIBOR transition: What is a "safe harbour" and why does the UK’s legislative toolkit need one?

Supreme Court allows appeal in jurisdictional challenge relating to parent company duty of care

Final EU legislative fix for legacy LIBOR: impact on transition risk for UK entities

Supreme Court rules SFO cannot compel foreign company to produce documents held overseas

Mass litigation in Spain: between joinder of claims and class actions

We are continuing to monitor global trends in class actions that are likely to be of interest to financial institutions, particularly in light of the …

Financial product mis-selling claims against banks: the increasing willingness of the English courts to strike out allegations of fraud in “appropriate” cases

Court of Appeal clarifies that cross-undertakings should rarely be required as a condition of security for costs

In a marked shift from previous first instance decisions, the Court of Appeal has provided guidance on the circumstances in which a defendant seeking …

High Court dismisses disclosure application by a group of unidentified investors on the grounds that it amounted to a “fishing expedition”

The High Court has dismissed an application by a group of unidentified investors for Norwich Pharmacal relief (or, alternatively, pre-action disclosure …

High Court confirms current scope of Quincecare duty is limited to protecting corporate customers and does not extend to individuals

Supreme Court hands down judgment in FCA’s Covid-19 Business Interruption Test Case

The Supreme Court has today handed down judgment in the Covid-19 Business Interruption insurance test case of The Financial Conduct Authority v Arch …

High Court confirms no abuse of process or exceptional grounds for partially striking out/staying parallel English proceedings brought by a Bank in relation to a swap claim

The High Court has dismissed an Italian municipal authority’s application to strike out certain parts of the claimant banks’ particulars of claims and/or …

Climate-related disclosures for issuers: FCA publishes final rules

The Financial Conduct Authority (FCA) has published a Policy Statement (PS20/17) and final rules and guidance in relation to climate-related …