Finance litigation update - June 2019

1 In this issue: 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, as follows: Marme Inversiones: manipulation, misrepresentation and the markets 2 High Court clarifies its approach to determination of "Loss" under the 1992 ISDA Master Agreement 4 Putting a "stop" to contractual estoppel: but on what basis? 7 No breach of fiduciary duty by broker for failure to disclose level of commission 9 Interpreting ISDA: positive results on negative interest rates 11 Further Court of Appeal clarification on the treatment of competing jurisdiction clauses 13 No express or implied term in relation to market practice: CFH Clearing Limited v Merrill Lynch International 15 Finance Litigation Update – June 2019