Banking Litigation Notes

High Court says bank need not comply with numerous and repetitive DSARs which were being used for a collateral purpose

High Court strikes out two IRHP mis-selling claims on the grounds of abuse of process, limitation and underdeveloped allegations of fraud

The High Court has dismissed two IRHP mis-selling claims by claimant investors against various defendant banks for losses alleged to have been suffered …

Impact of latest "SAAMCO" decision on financial services litigation

High Court strikes out claimants’ representative action due to failure to meet “same interest” requirement under CPR 19.6

The High Court has struck out the representative element of a claim purportedly brought on behalf of large numbers of claimant individuals and …

High Court requires claimant investors to disclose their investment history to show their level of sophistication and appetite for risk

High Court takes robust approach to personal guarantees: potential impact for accredited lenders under the Coronavirus Business Interruption Loan Schemes

The High Court has held that personal guarantees signed by the chairman and sole shareholder of a borrower company were enforceable, dismissing arguments …

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

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 …

High Court endorses use of CPR Part 86 interpleader application by financial services firm seeking court guidance

The High Court has endorsed the use of an interpleader application pursuant to CPR Part 86 by a financial services firm seeking guidance from the court …

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

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 …

Court of Appeal holds no real prospect of success for claim alleging contractual obligations owed by a bank to its customers in the conduct of FCA review

The Court of Appeal has refused the claimants permission to appeal in the most recent interest rate hedging product ("IRHP") mis-selling claim to come …