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 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 …

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 …

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 …

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 …

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

High Court rejects claim that dealings between bank and client went beyond an ordinary arm's length bank-client relationship

The High Court has rejected the argument that dealings between Goldman Sachs ("GSI") and the Libyan Investment Authority ("LIA") crossed the line from an …

Thornbridge Limited v Barclays Bank: Confirmation of the court's current approach to IRHP mis-selling claims is good news for financial institutions

The latest in a recent line of judgments on interest rate hedging product ("IRHP") mis-selling, Thornbridge Limited v Barclays Bank plc [2015] …

Edward Astle v CBRE: Application of the SAAMCO principle to negligent valuations in information memoranda

The recent case of Edward Astle & Ors v CBRE Ltd (and related actions) [2015] EWHC 3189 (Ch) considers South Australia Asset …

Sharp & Ors v Blank & Ors: Directors' duties owed to company not shareholders when seeking shareholder approval for transaction

FCA v Da Vinci: FSA uses court proceedings for the first time to obtain both financial penalties and permanent injunctions against a firm in a case of alleged market abuse

FCA past business reviews: what duties, if any, do financial institutions owe directly to customers? High Court finds no contractual obligations, but tortious duties are arguable

The recent and somewhat surprising decision of the High Court in Suremime Limited v Barclays Bank plc [2015] EWHC 2277 (QB) is important …