Banking Litigation Notes

Libyan Investment Authority v Goldman Sachs: Court of Appeal refuses permission to appeal

This time last year, the High Court rejected a claim by the Libyan Investment Authority (“LIA”) that dealings between it and Goldman Sachs (“GSI”) …

High Court applies public law standard to the exercise of discretion by a financial institution under a receivables finance agreement

BHL v Leumi ABL Ltd [2017] EWHC 1871 (QB) serves as an interesting illustration of how the Court can import public law principles to the …

High Court confirms narrow application of duty established by the Court of Appeal in So v HSBC

The Court has recently revisited the question of whether a bank providing a reference owes a duty to a third party relying on that …

High Court rejects application to include conspiracy allegations in IRHP misselling claim and gives guidance on meaning of "exceptional circumstances" in past business review undertakings given to the FCA

The latest in the line of recent judgments concerning interest rate hedging product ("IRHP") misselling allegations concerns an application by the …

Court of Appeal confirms no tortious duty of care owed to customers in connection with the FCA past business review

Over the past two years, the courts have grappled with the novel claimant argument that financial institutions owe duties of care in tort …

Banking Litigation Update

High Court strikes out claims relating to the mis-selling of interest rate hedging products Supreme Court on contractual interpretation – striking a balance between the language used and the commercial implications

In Wood (Respondent) v Capita Insurance Services Limited (Appellant) [2017] UKSC 24, the Supreme Court has unanimously dismissed an appeal …

High Court strikes out claims relating to the mis-selling of interest rate hedging products

In a recent decision, Elite Property Holdings Ltd & Anor v. Barclays Bank plc [2016] EWHC 3294 (QB), the High Court struck out the majority …

Court of Appeal clarifies interpretation of default interest provisions under commercial mortgage backed securitisation documentation

The recent decision of the Court of Appeal in Credit Suisse Asset Management LLC v Titan Europe 2006-1 Plc [2016] EWCA Civ 1293 will be of …

WW Property Investments Limited v National Westminster Bank Plc: Court of Appeal refuses permission for addition of claims regarding LIBOR manipulation

The case concerned an application by the claimant for permission to appeal a decision of the High Court to strike out the entirety of the claim …

Court of Appeal clarifies scope of potential liability under the Misrepresentation Act 1967

The recent decision of the Court of Appeal in Taberna Europe CDO II Plc v Selskabet (formerly Roskilde Bank A/S) (In bankruptcy) [2016] EWCA …

O'Hare v Coutts: High Court dismisses mis-selling claim and clarifies standard of care required of financial advisors