Finance Litigation Update - May 2018

Finance Litigation Update – May 2018 Welcome to the latest Finance Litigation Update, in which we summarise some of the most significant cases relevant to banks and other financial institutions over the last six months or so. In this issue:  Court of Appeal hands down landmark judgment in Property Alliance Group Limited v The Royal Bank of Scotland plc  Bank liable to investors for "dropping the ball" in its role as arranger in securities offering?  Are you sure? The differences between guarantees and indemnities  Court of Appeal rules investor has no contractual right of action against issuer in respect of bearer notes  Letters of credit in the Supreme Court: some unintended consequences?  Recent judgment on ISDA close-outs  Court of Appeal delivers judgment on the correct construction of the default valuation provisions in the GMRA (2000 version)  Bank Liable for breach of "Quincecare" duty "Internationally capable group of finance litigators with extensive experience handling a diverse range of issues within the industry." Chambers UK 2018

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