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Banking and Finance

Members of Chambers have substantial experience in banking and finance and in the related field of financial services regulation.  A number of our members are recognised in the legal directories as “leaders of their field” in this area.  Our banking and finance work is complemented by our experience ‘off shore’ and our expertise in the related areas of insolvency, professional liability, civil fraud and trusts.

Recent experience includes

  • Acting for JP Morgan Chase in relation to possible default under $300m floating rate note
  • Litigation arising from the collapse of Northern Rock, Lehman Brothers and the Icelandic bank, Kaupthing
  • Representing the liquidator of Lehman Bros International Europe Ltd in relation to the distribution of US $19bn of assets.
  • Aquarelle Etoile II SA v Etoile Developpement I SA & Ors SA – the repayment of €148m of Islamic finance provided by a Qatari bank to finance the redevelopment of the Place de l’Etoile in Luxembourg.
  • Acting for the bank in Shah v HSBC Private Bank – the leading case on the conflict between a bank’s contractual duties and its duties under POCA.
  • Acting for liquidator of Isis v Kaupthing in proceedings in which the English Courts interpreted the Credit Institutions (Reorganisation and Winding up) Regulations 2004 concerning cross border cooperation on the liquidation of banks and the ability to counterclaim in proceedings.
  • In Dextra v Bank of Jamaica acted for claimant in Privy Council appeal seeking restitution and damages for conversion of bill of exchange in decision which established limits of good faith challenge to change of position defence.

Typical work includes:

  • Breach of mandate
  • Claims for breach of duty of care
  • Claims for poor investment advice, “mis-selling” or benchmark (eg LIBOR) manipulation
  • Professional negligence claims against advisers (eg. valuers, lawyers or other professionals advising banks)
  • Consumer Credit Act
  • The Financial Ombudsman Service and the Financial Services Compensation Scheme
  • Advice on the Financial Services and Markets Act 2000 and the FCA Handbook
  • Capital adequacy
  • Fraud and money laundering
  • Regulatory investigations
  • Investment Banking
  • Syndicated lending
  • Disputes arising out of the enforcement of guarantees, charges, bills of sale or other securities
  • Securitisation
  • Disputes regarding cheques, promissory notes or other negotiable instruments
  • Dispute relating to payments eg payments made by mistake, EFT and phishing
  • Asset tracing, preservation and recovery
  • Islamic Finance