Banking Litigation Notes

New York legislative solution for LIBOR passed: Impact on transition of legacy LIBOR contracts

Navigating “the final and critical phase” of LIBOR – Senior Managers take heed

EU Advocate General considers interpretation of Prospectus Directive in relation to an issuer’s liability for a prospectus marketed to both retail and qualified investors

Climate-related disclosures for issuers: further steps towards mandatory requirements?

In November 2020, the UK Joint Government Regulator TCFD Taskforce published its “roadmap towards mandatory climate-related disclosures”, which set out a …

High Court finds alleged frustration of contract due to COVID-19 pandemic is not sufficiently arguable to grant injunction restraining demand under letter of credit  

Court of Appeal clarifies requirements for establishing deliberate concealment to postpone limitation period

The Court of Appeal has found that a defendant creditor could not rely on a limitation defence to a borrower’s claim that its non-disclosure of a …

Court of Appeal rejects all claims relating to transfer of property portfolio to lender’s restructuring unit following borrower default

High Court finds that a claimant’s “awareness” of a representation is an essential prerequisite to a claim for misrepresentation

Interesting New York court decision provides warning for financial institutions in relation to possible retention by recipients of mistaken payments

On 16 February 2021, Judge Jesse Furman of the United States District Court for the Southern District of New York ruled, in a 105-page decision, that …

High Court strikes out s.90A FSMA claims for failure to comply with pre-service joinder rules following expiration of arguable limitation period

The High Court has struck out certain of the claims brought against G4S under section 90A Financial Services and Markets Act 2000 (FSMA), in a judgment …

LIBOR Discontinuation: FCA non-representativeness announcement

BANKING LITIGATION PODCAST EPISODE 24: MONTHLY UPDATE – JANUARY/FEBRUARY 2021