Banking Litigation Notes

High Court confirms current scope of Quincecare duty is limited to protecting corporate customers and does not extend to individuals

Supreme Court hands down judgment in FCA’s Covid-19 Business Interruption Test Case

The Supreme Court has today handed down judgment in the Covid-19 Business Interruption insurance test case of The Financial Conduct Authority v Arch …

High Court confirms no abuse of process or exceptional grounds for partially striking out/staying parallel English proceedings brought by a Bank in relation to a swap claim

The High Court has dismissed an Italian municipal authority’s application to strike out certain parts of the claimant banks’ particulars of claims and/or …

Climate-related disclosures for issuers: FCA publishes final rules

The Financial Conduct Authority (FCA) has published a Policy Statement (PS20/17) and final rules and guidance in relation to climate-related …

Latest guidance from the Court of Appeal on asymmetric jurisdiction clauses

The Court of Appeal has held that an asymmetric or unilateral jurisdiction clause is an exclusive jurisdiction clause for the purposes of the recast …

High Court considers entitlement of investment firm to terminate Bitcoin trading account due to alleged money laundering concerns

The High Court has found in favour of a claimant investor in a dispute arising from the termination of her Bitcoin trading account with an online trading …

High Court provides further insights on the risks of Quincecare claims against banks

High Court strikes out “paradigm” claim for reflective loss in the context of allegedly negligent advice on an IPO

Supreme Court ruling in Merricks: some important clarifications but a number of unresolved issues

On 11 December 2020 the Supreme Court handed down a very significant judgment relating to the certification of a £14bn opt-out competition …

FSR Outlook 2021: Paving the Way Forward

Our Financial Services Regulatory team have announced the launch of FSR Outlook 2021: Paving the Way Forward. In this annual publication, the …

High Court considers First Tower judgment in the context of no-advice clauses and confirms UCTA does not apply

Class Actions in Italy: a second wave of reform

We are continuing to monitor global trends in class actions that are likely to be of interest to financial institutions, particularly in light …