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.

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 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.

Latest news & insights

10 Apr 2024

From Insights

Finance litigation roundup - April 2024

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

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10 Apr 2024

From Insights

Privilege and the iniquity exception: clarifying the boundaries

In a recent Practical Law article, Ben Sigler, Ayo Oketunji and Rebecca Garrick look at the Court of Appeal decision in Al Sadeq v Dechert LLP and others [2024] EWCA C..

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20 Mar 2024

From Insights

Managing the risk of preliminary professional advice – when can a professional be held to off the cuff advice? (Miller v Irwin Mitchell LLP)

In Miller v Irwin Mitchell LLP [2024] EWCA Civ 53, the Court of Appeal dismissed an appeal by a claimant who had suffered a serious injury while on holiday but lost he..

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15 Feb 2024

From Insights

FCA update on their work towards reducing and preventing financial crime

The FCA has provided a progress update on their work in their recent publication, "Reducing and preventing financial crime", and they look ahead to identify four areas..

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02 Feb 2024

From Insights

Skeletons in the closet: Supreme Court clarifies the meaning of "deliberate concealment" in the context of the Limitation Act 1980

The Supreme Court's judgment in Canada Square Operations Ltd v Potter [2023] UKSC 41 provides welcome clarity on the meaning of "deliberate concealment" in the context..

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17 Jan 2024

From Insights

Knowing receipt: No continuing equitable proprietary interest, no liability (Byers v Saudi National Bank)

In Byers & Ors v Saudi National Bank [2023] UKSC 51, the Supreme Court has held that a claim for knowing receipt requires the claimant to have a continuing equitable p..

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17 Jan 2024

From Insights

Venice swaps decision sunk by Court of Appeal (Banca Intesa v Venezia)

The Court of Appeal has allowed an appeal by Banca Intesa Sanpaolo SpA and Dexia Crediop SpA and dismissed a cross-appeal by the Comune di Venezia

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30 Nov 2023

From Insights

'Who calls the shots?' – FCDO issues guidance on ownership and control in UK sanctions regulations

Following the much-discussed Court of Appeal judgment in Mints & Ors v PJSC National Bank Trust & Anor [2023] EWCA Civ 1132, the UK Government has issued clarification..

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17 Nov 2023

From Insights

Enforcement of foreign judgments: Invest Bank v El-Husseini

A recent Commercial Court decision has raised an intriguing question of private international law: can a foreign judgment be enforced in England and Wales if it is not..

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05 Oct 2023

From Insights

The new Financial Services and Markets Act 2023 provides for the revocation of swathes of EU-retained law relating to financial services and markets

In this article, we highlight the proposed approach of the FCA in relation to this monumental task of replacing those EU rules with new, UK-focussed domestic requireme..

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24 Aug 2023

From Insights

Ofgem fines Morgan Stanley for failure to record and retain electronic trading communications following traders' use of Whatsapp on personal phones

We look at the first UK fine for failure to record and retain electronic communications relating to trading wholesale energy products, and ask whether this might heral..

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11 Aug 2023

From Insights

Finance litigation update - August 2023

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 ..

More

04 Aug 2023

From Insights

Asymmetric jurisdiction clauses: A European conundrum - France's referral to the CJEU

Asymmetric jurisdiction clauses generally give one party - usually a bank - the liberty to choose where it brings proceedings.

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02 Aug 2023

From Insights

Good faith v contractual discretion: context is king (Sibner v Jarvis Capital)

A lender has successfully appealed a decision to set aside statutory demands made against two guarantors, following the borrower's default.

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26 Jul 2023

From Insights

ESG and directors' duties - where are we now? ClientEarth v Shell

In ClientEarth v Shell Plc & Ors (Re Prima Facie Case) [2023] EWHC 1137 (Ch), the High Court rejected ClientEarth's application for permission to bring a derivative cl..

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13 Jul 2023

From Insights

Quincecare duty is flawed and based on a mistaken premise - Philipp v Barclays

The Supreme Court has ruled, unanimously, that the Quincecare duty does not apply where a customer has authorised its bank to make a payment. Banks are under no duty t..

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