Banking and financial services litigation

In any high-stakes financial dispute you want to be certain that you have legal specialists on your side with decades of experience in the field. Our award-winning finance litigation practice has acted on some of the most high-profile and complex banking disputes.
  • Profile
  • Experience
  • Key contacts

Featuring leading litigation lawyers with Legal 500 and Chambers recognition, our team deals with many of the largest disputes of the day. We have the skills and experience to assist you with disputes involving the full range of financial products and structures including:

  • securitisations
  • CDOs
  • ABCP
  • swaps and derivatives
  • TEPs, TIPPs, GDRs and ADRs
  • Islamic finance structures
  • loan notes, promissory notes and bonds.

We advise clients on private and retail banking disputes; investment banking and structured finance disputes; trade finance disputes (including letters of credit, performance bonds, guarantees and bills of exchange); recovery strategies; asset finance disputes; and fraud and asset tracing matters.

We act for, and against, banks and other financial institutions; hedge funds, closed end funds, and other funds; corporates; insolvency practitioners; and individuals.

Our highly regarded financial regulatory and sanctions team represents institutions and individuals in a variety of investigations, with a particularly wide experience of advising on LIBOR and FX related investigations and sanctions issues.

We have litigators that can help you solve finance related disputes in High Court cases and arbitrations, as well as banking litigators in France, Dubai, Hong Kong and Singapore.

"Internationally capable group of finance litigators with extensive experience handling a diverse range of issues within the industry."
Chambers UK 2018

Tchenguiz Family Trust

Litigation against Kaupthing Bank (in liquidation). Together with a related claim, the sums at stake represented 1/3 of the GDP of Iceland. We won The Lawyer magazine's "Litigation Team of the Year" 2012 for our work on this litigation.

Madoff

Representing FIM Advisers LLP in proceedings against it arising out of the operation of the largest Ponzi scheme in history. We are also advising a leading European bank on its global strategy in relation to its Madoff related exposure.

Natixis

Acting in a claim brought by Goldman Sachs arising out of the termination of credit default swaps with a combined notional amount of US$500m. The claim settled on favourable terms on the first day of trial.

British Arab Commercial Bank

A high profile claim against AHAB, a Saudi Arabian conglomerate, to recover sums loaned to one of its subsidiaries, ATS. Identified as one of The Lawyer's top 20 cases of recent years, the bank's claim was successful at trial.

Arch Cru

Obtained a favourable High Court judgment for a Guernsey protected cell company, and the underlying cells, in 2014 in respect of the new board's investigation into the collapse of the "Arch Cru" investment structure that resulted in massive losses to certain OEICs.

Affinion

Advising in respect of a uniquely complex and innovative voluntary consumer redress scheme relating to the way in which its payment card protection products were sold to approximately 2 million retail customers.

LIBOR and FX

Advising on a number of matters involving allegations of LIBOR manipulation and mis-selling. We have been involved in one of the major test cases on LIBOR issues and continue to advise on UK and international investigations. We are also advising on a number of matters involving allegations of misconduct and the use of anti-competitive devices in the FX market both in the UK and the USA. We have advised on a number of recent high profile international spot fix manipulation investigations.

Eastern European bank collapse

Acting for the bank’s insolvency administrator on claims against a business man who is subject to civil and criminal fraud proceedings in various jurisdictions. We have obtained freezing, third party disclosure and search orders and had 8 separate court hearings, all of which have been successful.

Banking crisis and non-performing loans

Advising a number of European banks on hundreds of recovery and liability proceedings in several jurisdictions arising from multi-billion Euro loan portfolios including the impact of European and national banking and insolvency legislation.

Securities litigation

Acting for a global asset manager in connection with litigation relating to a portfolio of RMBS and CMBS assets including noteholder claims in England and securities fraud claims in New York and California.

Lawyer

Edward Davis Partner

T:  +44 20 7809 2327
M:  Email Edward | Vcard Office:  London

Lawyer

Sue Millar Partner

T:  + 44 20 7809 2329
M:  + 44 7825 625 898 Email Sue | Vcard Office:  London

Latest news & insights

11 Apr 2018

From Insights

Court of Appeal delivers judgment on the correct construction of the default valuation provisions in the GMRA (2000 version)

The English Court of Appeal has ruled on the correct construction of the default valuation provisions in the Global Master Repurchase Agreement (2000 version) ("GMRA")..

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23 Mar 2018

From Insights

Return to the deep freeze?

UK/Russia diplomatic relations have hit a post-Cold War low following the recent poisoning of the former Russian spy Sergei Skripal and his daughter, Yulia, in Salisbu..

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16 Mar 2018

From Insights

Court of Appeal hands down landmark judgment in Property Alliance Group Limited v The Royal Bank of Scotland plc

Ben Sigler and Sue Millar comment on the Court of Appeal's landmark judgment in Property Alliance Group Limited v The Royal Bank of Scotland plc [2018] EWCA Civ 355.

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02 Feb 2018

From Insights

Bank liable to investors for "dropping the ball" in its role as arranger in securities offering

In the landmark judgment Golden Belt v BNP Paribas [2017] EWHC 3182 (Comm) the Commercial Court found, for the first time, that an arranging bank owed a limited duty o..

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15 Jan 2018

From Insights

Are you sure?

A recent decision of the High Court has served as a useful reminder and warning to parties of the need to carefully draft contracts of suretyship, and the distinction ..

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01 Dec 2017

From Insights

Court of Appeal rules investor has no contractual right of action against issuer in respect of bearer notes

The Court of Appeal has ruled that an investor with an interest in promissory Notes does not have a direct claim against the issuer for breach of contract in respect o..

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01 Nov 2017

From Insights

Letters of credit in the Supreme Court: Some unintended consequences?

In Taurus Petroleum v SOMO the Supreme Court has granted a third party debt order and receivership order against an issuing bank over the proceeds of a letter of credi..

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20 Oct 2017

From News

Partner Sue Millar named 'Woman Lawyer of the Year'

Commercial litigation partner, Sue Millar, was named 'Woman Lawyer of the Year' at the Law Society Excellence Awards 2017, held in London last night.

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17 Oct 2017

From Insights

A brief overview of the doctrine of privilege (webcast 2017)

In this webcast, Sabina Lillyman, a senior associate in our commercial litigation group, will consider some recent case law which has raised important implications for..

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09 Oct 2017

From Insights

GMRAs – a review of two recent cases in the English High Court (2017 webcast)

In this webcast, Jeremy Livingston reviews two recent cases in which the English High Court has considered a range of issues arising from the application of the close-..

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04 Oct 2017

From Insights

Financial mis-selling claims – the key principles and an update (2017 webcast)

In this webcast, Donna Newman takes stock of the court's approach to financial mis-selling claims in light of the principles emerging from the case law over the last f..

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20 Mar 2017

From Insights

Commercial Court delivers judgment on close-out valuations

The English High Court (Knowles J) has today ruled on issues arising out of a close-out under the Global Master Repurchase Agreement (2000 version) and the Global Mast..

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29 Nov 2016

From Insights

FCA Remediation and Redress Schemes – recent developments webcast

We take a look at recent developments in the FCA's approach to remediation and consumer redress schemes.

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22 Nov 2016

From Insights

ISDA Master Agreements - a brief update webcast

In this webcast, we review two recent cases in which the English courts have considered the termination and close-out provisions of ISDA Master Agreements.

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15 Nov 2016

From Insights

Negative interest rates - the legal fall-out webcast

In this webcast, we explore the legal impacts arising from central banks pursuing negative interest rate policies, in particular, on loan agreements and swaps, and the..

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08 Nov 2016

From Insights

Financial mis-selling - a brief update 2016 webcast

In this webcast, we provide a brief recap and review four more recent cases on this topic.

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© Stephenson Harwood LLP 2016. Any reference to Stephenson Harwood in this document means Stephenson Harwood LLP and/or its affiliated undertakings. Any reference to a partner is used to refer to a member of Stephenson Harwood LLP.