Banking Litigation Notes

LIBOR transition: What does the US regulator's proposed legislative fix mean for UK financial markets?

What does Lloyds/HBOS tell us about sections 90 and 90A of FSMA?

Herbert Smith Freehills LLP have published an article in Butterworths Journal of International Banking and Financial Law considering how the findings in …

Class actions against financial institutions: impact of High Court decision to order security for costs against a litigation funder

In a recent decision which will be welcomed by defendants to funded group litigation, including financial institutions, the High Court has ordered …

High Court finds no implied contractual duties in connection with past business review

Is coronavirus likely to be a valid basis for avoiding contractual obligations?

The Bank of England's attempts to "turbo-charge" LIBOR transition in the cash markets: will these increase or decrease the litigation risks?

Court of Appeal confirms funders’ adverse costs liability not limited to amount of funding provided: Arkin “cap” not a binding rule

Impact of Court of Appeal's privilege decision in Sports Direct v FRC for the financial services sector

High Court upholds financial institution restructuring unit’s exercise of its powers under facility agreement following borrower default, finding there was no "relational contract" and rejecting claims for intimidation and economic duress

The High Court has dismissed the most recent claim to reach trial arising from the actions taken by a lending bank’s restructuring unit following a …

ISDA to re-consult on pre-cessation fallbacks: litigation risk for legacy LIBOR contracts

The International Swaps and Derivatives Association (“ISDA”) announced yesterday that it will re-consult on how to implement pre-cessation fallbacks in …

LIBOR transition: litigation risk observations on suite of documents published by the regulators in January 2020

High Court strikes out claim against banks in their capacity as lenders to investors of a tax deferral scheme

The High Court has struck out claims brought by former investors in the Ingenious Media tax deferral schemes against lending banks who advanced sums to …