Banking Litigation Notes

High Court considers distinction between guarantees and indemnities and the interpretation of payment deferral provisions under 1992 ISDA Master Agreement

High Court upholds validity of derivative transactions and related settlement agreements in latest Italian swaps judgment

Jurisdiction clauses: High Court finds English courts have exclusive jurisdiction under bespoke ISDA clause

Court of Appeal overturns High Court's high-profile Italian swaps decision

High Court reaffirms primacy of ISDA Master Agreement jurisdiction clause post-Brexit

High Court finds that bank's notice of event of default under section 5(a)(i) of the 2002 ISDA Master Agreement is valid

High Court confirms interest rate swaps entered into with Italian municipal authority were valid, lawful and binding on the parties

High Court finds no continuing event of default under ISDA Master Agreements once administration of counterparty terminates

High Court confirms no abuse of process or exceptional grounds for partially striking out/staying parallel English proceedings brought by a Bank in relation to a swap claim

The High Court has dismissed an Italian municipal authority’s application to strike out certain parts of the claimant banks’ particulars of claims and/or …

Leaving LIBOR – the ISDA Protocol and Supplement

With LIBOR due to disappear by end-2021, work has been underway to facilitate the transition from LIBOR and other IBORs to alternative risk free rates …

Commercial Court grants declaratory relief to bank relating to its rights under the 1992 ISDA Master Agreement

Court of Appeal upholds High Court decision to grant summary judgment in FX de-pegging case

The Court of Appeal has upheld the High Court’s decision to grant summary judgment in favour of a bank defending a claim brought by a foreign exchange …