We have published our latest Banking Litigation Update, summarising some of the more important UK cases and developments affecting financial institutions since our last update in February 2013, including:
MIS-SELLING CLAIMS
- Individual fails in large mis-selling claim
- The application of COB suitability requirements to leverage
- Interest rate hedging products claims
- Topping up FOS awards through the courts
LIBOR
- LIBOR private claims - test case update
CONTRACTUAL CONSTRUCTION
- Court of Appeal comments on the role of 'business common sense' in contractual construction
- Court analyses with precision the capacity in which parties are acting under the contract
OTHER SIGNIFICANT DECISIONS
- Duties owed by a bank acting as agent under a facility agreement
- Supreme Court considers the tests for insolvency
- Making decisions in a 'commercially reasonable' manner
- Corporate veil can be pierced in some circumstances
- Brokers' duties in closing out client positions
LITIGATION PROCEDURE
- Post-Jackson strict case management begins to bite
- Proposed extension of costs budgeting requirements
Click here to read the Update.
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Disclaimer
The articles published on this website, current at the dates of publication set out above, are for reference purposes only. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action.