Banking Litigation Notes

High Court finds no implied contractual duties in connection with past business review

High Court strikes out claim against banks in their capacity as lenders to investors of a tax deferral scheme

The High Court has struck out claims brought by former investors in the Ingenious Media tax deferral schemes against lending banks who advanced sums to …

High Court endorses use of CPR Part 86 interpleader application by financial services firm seeking court guidance

The High Court has endorsed the use of an interpleader application pursuant to CPR Part 86 by a financial services firm seeking guidance from the court …

Court of Appeal emphasises the need to plead conspiracy claims in full

Commercial Court rejects EURIBOR implied representations

The Commercial Court has dismissed claims that a bank made implied representations as to EURIBOR rate-setting in the context of selling an interest rate …

Court of Appeal holds no real prospect of success for claim alleging contractual obligations owed by a bank to its customers in the conduct of FCA review

The Court of Appeal has refused the claimants permission to appeal in the most recent interest rate hedging product ("IRHP") mis-selling claim to come …

High Court rejects the first IRHP mis-selling claim brought by private persons under Section 138D FSMA

The High Court has rejected the first interest rate hedging product ("IRHP") mis-selling claim brought by private persons under section 138D of the …

High Court rejects unfair relationship claim concerning allegations of breach of an advisory duty, misrepresentation and efficacy of basis clauses

Carney & Ors v NM Rothschild & Sons Limited [2018] EWHC 958 (Comm) is a recent case where the High Court rejected claims of an unfair …

Action for declaration that bank failed to conduct past business review properly is not arguable

In the context of interest rate hedging product (“IHRP”) mis-selling litigation, the High Court has rejected an application for permission to amend …

PAG v RBS: Court of Appeal dismisses IRHP mis-selling and LIBOR manipulation claim

The Court of Appeal has dismissed the entirety of the long-awaited appeal in Property Alliance Group v The Royal Bank of Scotland [2018] EWCA …

High Court rejects another interest rate hedging product mis-selling claim: key points of general application

Latest IRHP "Mis-selling judgment confirms no "mezzanine" duty of care owed by banks