Banking Litigation Notes

High Court orders payment into court by Russian claimant as security for defendant banks' costs in context of sanctions case

Government proposes legislation to permit funder DBAs in opt-out competition class actions

Litigation funding agreement may be enforceable in part despite PACCAR decision

Supreme Court decision today means most existing UK litigation funding agreements likely to be unenforceable

High Court refuses to apply the so-called Arkin "cap" to adverse costs order against litigation funder

Court of Appeal clarifies that cross-undertakings should rarely be required as a condition of security for costs

In a marked shift from previous first instance decisions, the Court of Appeal has provided guidance on the circumstances in which a defendant seeking …

Costs recovery when you win – guidance from recent cases

One of the key features of the commercial litigation landscape in England and Wales is that costs generally follow the event, creating a disincentive for …

Securities class actions in England and Wales: the challenges for funders and a perspective from Australia

Herbert Smith Freehills LLP have published an article in Butterworths Journal of International Banking and Financial Law on the principal characteristics …

Lloyds/HBOS Litigation: Consequentials Judgment

Mr Justice Norris has now handed down judgment following the consequentials hearing in the landmark Lloyds/HBOS Litigation: Sharp & Ors v Blank & …

Class actions against financial institutions: impact of High Court decision to order security for costs against a litigation funder

In a recent decision which will be welcomed by defendants to funded group litigation, including financial institutions, the High Court has ordered …

Court of Appeal confirms funders’ adverse costs liability not limited to amount of funding provided: Arkin “cap” not a binding rule

"Topping up" of Ombudsman awards through the courts not allowed: Court of Appeal overturns High Court decision

The Court of Appeal has handed down an important judgment holding that complainants who had accepted a Financial Ombudsman Service ("FOS") determination …