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.

"I really rate them – they have a fantastic international presence, a very good, strong culture and excellent workflow. I think they are absolutely brilliant."
Chambers UK 2019

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.


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.


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.


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.


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.


Edward Davis Partner

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


Sue Millar Partner

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

Latest news & insights

22 Oct 2019

From Insights

Finance litigation: key cases of 2019 (2019 webcast)

In the final webcast of this year’s banking and financial litigation webcast series, associate Helen Fitz-Hugh talks about three significant cases relevant to banks an..


15 Oct 2019

From Insights

Standard clauses in finance contracts – why include them? (2019 webcast)

In this webcast, senior associate Rabia Ramputh reviews key cases from this year which highlight the importance of including certain standard clauses in finance contra..


07 Oct 2019

From Insights

Lehman Brothers International (Europe) (In Administration) v Exotix Partners LLP [2019] EWHC 2380 (Ch)

The High Court has applied a common sense interpretation to a contract for sale, in circumstances where both parties had been mistaken and/or unclear as to the quantit..


07 Oct 2019

From Insights

Senior Managers and Certification Regime update 2019 (2019 webcast)

In this webcast, Alex examines some of the lessons learned as the implementation of the SMCR has bedded down for banks, building societies and other deposit takers and..


02 Oct 2019

From Insights

Warehouse receipts - Contract, mistake and estoppel

The Commercial Court has delivered a judgment which will have important implications in the context of commodity finance and, in particular, the use of warehouse recei..


01 Oct 2019

From Insights

ISDA Master Agreements (2019 webcast)

In this webcast, Jeremy talks about two recent decisions concerning the Courts’ approach to interpreting some of the standard terms contained within the ISDA documenta..


30 Sep 2019

From Insights

What does “mandatory law” really mean? Lamesa v Cynergy

Many finance contracts contain general provisions regarding compliance with “mandatory” laws. What actually constitutes a mandatory law in the field of international s..


11 Sep 2019

From Insights

Closing bank accounts: courts put banks under pressure

As the crackdown on economic crime continues, it is no surprise that the number of complaints regarding bank account closures is growing.


29 Aug 2019

From Insights

No defence available to nominee shareholder in receipt of unlawful preference

In Skandinaviska Enskilda Banken AB v Conway & another [2019] UKPC 36, the Privy Council upheld the decision of the Court of Appeal of the Cayman Islands.


23 Jul 2019

From Insights

POCA up: suspicion sufficient for bank to kiss goodbye to its customer

Last month, the Law Commission published its final report on the system of voluntary disclosures under the Proceeds of Crime Act 2002, which offer the National Crime A..


04 Jul 2019

From Insights

Equitable set-off and the implied duty of cooperation: AMC III Purple B.V. v Amethyst Radiotherapy Limited

The High Court has granted summary judgment on a claim for payment under two loan agreements. In granting judgment, the court considered (but ultimately rejected) the ..


12 Jun 2019

From Insights

Finance litigation update - June 2019

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 l..


30 May 2019

From Insights

No shortcuts to service under the Hague Convention: Punjab National Bank v Boris Shipping & Ors

With the potential repeal of the EU Service Regulation, parties to litigation in the EU may need to consider other ways to serve legal proceedings abroad.


15 May 2019

From Blog

Interpreting ISDA: positive results on negative interest rates

A number of recent cases in the Court of Appeal and Commercial Court have examined the meaning of standard terms in ISDA contracts.


02 Apr 2019

From Insights

Marme Inversiones: Manipulation, misrepresentation and the markets

Last month saw an important ruling in relation to a benchmark misrepresentation claim which is likely to provide significant comfort for banks.


18 Mar 2019

From Insights

High Court clarifies its approach to determination of "Loss" under the 1992 ISDA Master Agreement

Under the 1992 ISDA Master Agreement, following an event of default, there is either an automatic termination or the non-defaulting party can serve a notice designatin..


© 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.