Banking Litigation Notes

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

LIBOR is being overtaken: Will it be a car crash?

Court of Appeal decision in Manchester Building Society v Grant Thornton: clarification of "advice" vs "information" distinction when applying the SAAMCO principle

The Court of Appeal has dismissed the claimant's appeal in Manchester Building Society v Grant Thornton UK LLP [2019] EWCA Civ 40, an important …

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

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 …