Banking Litigation Notes

Banking Litigation Update

Court of Appeal allows LIBOR claims to proceed

The Court of Appeal has allowed parties to two claims against LIBOR panel banks to amend their pleadings to include allegations that the banks made …

Appeal relating to alleged mis-selling of interest rate swaps dismissed: Green and Rowley v RBS

Green & Rowley v Royal Bank of Scotland plc [2013] EWCA Civ 1197 The Court of Appeal has handed down its decision …

A new statutory cause of action against credit rating agencies – inconsistent messages from Europe

On 31 May 2013, new European legislation was passed to amend the Regulation on credit rating agencies which was first introduced in the aftermath of the …

Private LIBOR claims – an uphill battle for claimants

UK Supreme Court clarifies the "balance-sheet" insolvency test

BNY Corporate Trustee Services Limited v Eurosail-UK 2007-3BL PLC [2013] UKSC 28 The Supreme Court has delivered a …

Business common sense arguments fail to save unclear drafting: the Court of Appeal (UK) upholds High Court decision on loan repayment fees

BMA Special Opportunity Hub Fund Ltd & Ors v African Minerals Finance Ltd [2013] EWCA Civ 416 (read the judgment here) The Court of Appeal …

Individual fails in large mis-selling claim concerning leveraged investments in structured notes

Basma Al Sulaiman v  (i) Credit Suisse Securities (Europe) Limited; and (ii) Plurimi Capital LLP [2013] EWHC 400 (Comm) In a strongly worded …

Banking Litigation Update

Interest rate hedging product claims – the current landscape

1.  The FSA review In 2012, the Financial Services Authority (FSA) announced the findings of its review into interest rate hedging products (IRHPs) …

Structured credit products – key Australian decisions

In late 2012, the Federal Court of Australia handed down first instance judgments in two interesting cases involving claims brought by the purchasers of …

Clearing brokers' duties when exercising close out powers

In the current economic climate, brokers will find the decision of the High Court (UK) in Euroption of considerable interest, since it …