Banking Litigation Notes

Lloyds/HBOS Litigation: Consequentials Judgment

Mr Justice Norris has now handed down judgment following the consequentials hearing in the landmark Lloyds/HBOS Litigation: Sharp & Ors v Blank & …

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 …

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

"Topping up" of Ombudsman awards through the courts not allowed: Court of Appeal overturns High Court decision

The Court of Appeal has handed down an important judgment holding that complainants who had accepted a Financial Ombudsman Service ("FOS") determination …

High Court rules that Ombudsman awards may be "topped up" through court action

The High Court has decided that a party who accepts a FOS determination awarding them the statutory maximum award (now £150,000) can subsequently claim …

High Court declines to impose costs sanctions for refusal to mediate

Part 36 offers in context of counterclaims and negative declarations

A recent High Court judgment highlights the scope for confusion in applying Part 36 in a case where the formal roles of claimant and defendant do …

50% cap on contingency fees for commercial cases

The government has given further details of its plans to introduce contingency fees, or “damages based agreements” (DBAs), for civil litigation. It has …

Costs awarded against claimant who failed to beat non-Part 36 offer

A recent High Court decision illustrates that a defendant’s offer to settle made outside the Part 36 regime may lead to a similar result as a Part 36 …

Indemnity costs against defendant who failed to accept Part 36 offer that was withdrawn before trial

A recent decision illustrates that the court may award indemnity costs to penalise unreasonable behaviour, including an unreasonable failure to accept a …

Part 36: difficulties in split trials

A recent High Court decision has highlighted difficulties arising from the application of Part 36 in the context of split trials, or trials of …

Costs consequences of settlement orders made outside Part 36

The Court of Appeal has held that the court was not entitled to apply the Part 36 costs consequences “by analogy” to award indemnity costs and enhanced …