Finance 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. Visit our finance litigation hub.
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Featuring leading litigation lawyers with Legal 500 and Chambers recognition, our team deals with many of the largest disputes of the day.

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 recovery 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.

"The team is very committed. Its main strength is its proactive approach; it anticipates problems that will arise and prepares the line to be adopted well in advance. This has the advantage of avoiding any unpleasant surprises and  preparing positions with the benefit of time."

The Legal 500 UK 2020

Merrill Lynch International

Successfully defended Merrill Lynch International in a claim brought by CFH Clearing Limited in relation to algorithmic foreign exchange trading.

Natixis S.A.

Acting for Natixis in a successful US$35 million Commercial Court claim against Marex Financial relating to five nickel repo transactions.

Macdonald Hotels Ltd

Advising Macdonald Hotels in proceedings in the Commercial Court against the Bank of Scotland/Lloyds Banking Group following Macdonald Hotels' unwarranted placement in Lloyds Banking Group's Business Support Unit.

Raiffeisen Bank International AG

Acting for RBI in relation to claims arising out of the sale of shares and loans to an Indonesian oligarchical group.

Aggreko International Projects Limited

Representing Aggreko in its successful application for a without notice prohibitory injunction, which restrained payment from being made under a guarantee structure involving banks in London and Yemen, and representing Aggreko in the contested return date hearing in which the Court maintained the injunction.

Various Claimants v Visa Europe Ltd and others; Various Claimants v MasterCard Inc and others

Acting for over 1,000 claimants in 14 separate claims against Visa and MasterCard for the recovery of interchange fees that were imposed on the claimants by the card schemes in contravention of European and UK competition law. The claims are valued at over £500 million.

Euro-Asian Oil SA

Represented a major oil trader in Commercial Court proceedings against Credit Suisse resulting in an US$18 million judgment in our client's favour.


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 US. We have advised on a number of recent high profile international spot fix manipulation investigations.

SPL Guernsey ICC Ltd

Acting for SPL Guernsey ICC Ltd and its underlying cells in respect of the board's investigation into the Arch-Cru affair involving substantial losses to investors in Arch-Cru funds.

GLAS Trust Corporation Limited

Instructed by the Note Trustee in relation to certain proceedings concerning a complex securitisation transaction, in which the Issuer had issued Class A and B Notes. Also advising on an on-going basis in relation to the Note Trustee’s role and obligations in the securitisation transaction, which are complex and wide-ranging, and include insolvency aspects.

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.

Alpha Bank Cyprus Ltd, Bank of Cyprus Public Company Limited, Cyprus Popular Bank Public Co Ltd

Advising a number of major Cypriot banks in relation to a large number of claims based on alleged 'mis-selling' brought in the UK and Cyprus, in some cases in group actions involving hundreds of parties. The claimants in this matter are UK borrowers who entered into loans in order to purchase Cypriot off-plan properties.

Ministry of Defence and Support for the Armed Forces of the Islamic Republic of Iran

Advising Iran's Ministry of Defence, MODSAF, in a long-running commercial dispute with International Military Services, a subsidiary of the UK's Ministry of Defence. The dispute relates to the enforcement of two ICC awards in favour of MODSAF. The English proceedings are significant for their consideration of financial sanctions in the context of the enforcement of New York Convention awards and also have wider application to issues concerning financial sanctions in banking litigation in general.


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

20 Apr 2021

From Insights

Asymmetric jurisdiction clauses & the Hague Choice of Court Convention: time to shape up? (Etihad Airways v Flöther)

The 2005 Hague Convention on Choice of Court Agreements (the “Convention”) has been thrown into the spotlight recently. Following Brexit, the Brussels Recast Regulatio..


01 Apr 2021

From Insights

When is an error a manifest error?

In last month’s decision in Flowgroup plc v Co-operative Energy Ltd, Adrian Beltrami QC dismissed a seller’s claim to set aside an expert's determination made in the c..


11 Mar 2021

From Insights

The Quincecare duty: what do banks need to know?

In a recent series of cases, the courts have considered the scope of the so-called Quincecare duty – or, in other words, the duty not to follow a customer’s instructio..


25 Feb 2021

From Insights

Misrepresentation requires ‘active appreciation’—assumption is not enough (Leeds City Council and others v Barclays)

The court has struck out fraudulent misrepresentation claims brought by Leeds City Council and others against Barclays in connection with the ‘LIBOR rigging affair of ..


22 Feb 2021

From Insights

Key issues for breach of warranty claims and the potential impact of Covid-19

In the early part of 2020, Covid-19 entered all of our personal and professional lives and substantially changed the world (hopefully temporarily) in almost every resp..


16 Feb 2021

From Insights

Knowing receipt: not what you know but what you receive

The High Court's recent judgment in Byers and others v Samba Financial Group [2021] EWHC 60 (Ch) addresses an important question in the law of knowing receipt.


02 Feb 2021

From Insights

Unknown knowns, Norwich Pharmacal Orders & banks’ duties to their customers

Sometimes a claimant knows (or thinks they know) a wrongdoing has happened but either they do not have the evidence to prove it or they don’t know the identity of the ..


01 Feb 2021

From Insights

Marex: Where next for the rule against reflective loss?

The Supreme Court’s decision in Sevilleja v Marex Financial Ltd [2020] UKSC 31 of 15 July 2020 provided much needed clarity on the scope of the rule against “reflectiv..


20 Jan 2021

From Insights

Financial mis-selling claims: Fine Care v Natwest Markets Plc

Banks and other financial institutions selling financial products will inevitably owe their customers various duties.


07 Jan 2021

From Insights

Enforcement of EU judgments post Brexit: an exclusivity conundrum

Find out more about the enforceability in England of non-UK judgments and the issues in relation to jurisdiction and the mechanics of judicial co-operation that will a..


21 Dec 2020

From Insights

Travelport v WEX: what constitutes a material adverse effect?

In a recent judgment, the Commercial Court considered the extent to which the pandemic constitutes a material adverse effect (“MAE”) within the context of a sale and p..


10 Dec 2020

From Insights

Finance litigation update – December 2020

Welcome to the latest finance litigation update, in which we summarise some of the most significant cases and other developments relevant to banks and other financial ..


03 Dec 2020

From Insights

Can borrowers rely on sanctions to escape payment obligations? Banco San Juan Internacional Inc v Petróleos de Venezuela S.A.

There have been a number of recent judgments concerning the effect of US sanctions on parties' payment obligations.


19 Oct 2020

From Insights

Pending litigation, impending Brexit: What next for dispute resolution clauses?

There has been a recent influx of cases before the English courts in relation to jurisdiction to determine a dispute.


13 Oct 2020

From Insights

Jurisdiction, negative declarations and estoppel: BNP Paribas SA (BNP) v Trattamento Rifiuti Metropolitani SPA (TRM)

Claims for declaratory relief should be as focussed as possible and clearly serve a useful purpose. In BNP v Trattamento , the court issued a reminder that its power t..


07 Oct 2020

From Insights

Finance litigation podcast series 2020

Welcome to the first in our 2020 series of four short podcasts in which we take a bite-sized look at some of the key themes emerging in financial disputes over the las..


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