‘The Court of Appeal last week overturned a decision that £2.7bn collective proceedings over a foreign exchange spot-trading cartel should be on an opt-in, rather than opt-out, basis.’
Legal Futures, 31st July 2023
Source: www.legalfutures.co.uk
‘The High Court has granted a leading bank summary judgment on an “inherently implausible” €1.4bn (£1.2bn) claim for an introduction fee brought by a US law firm.’
Legal Futures, 24th July 2023
Source: www.legalfutures.co.uk
‘Financial institutions in the UK can lawfully send customers neutral information comparing the savings products they provide without needing the customers’ consent to do so, two regulators have confirmed.’
OUT-LAW.com, 20th July 2023
Source: www.pinsentmasons.com
‘In 2018 Mrs Fiona Philipp and her husband, Dr Robin Philipp, fell victim to a fraud. They were deceived by criminals into instructing Barclays Bank (the Bank) to transfer £700,000 in two payments from Mrs Philipp’s current account with the Bank to bank accounts in the United Arab Emirates. The instructions were carried out and the money was lost.’
UKSC Blog, 12th July 2023
Source: ukscblog.com
‘The High Court recently handed down judgment in the case of Gupta v Shah [2023] EWHC 540 (Ch), a double-barrelled summary judgment and strike out application in an idiosyncratic international fraud worth $14 million. The case involved extravagant defences of clandestine US-Iranian Commercial dealings, secret caches of US dollar reserves, Chinese State Security, and a systematic theft of funds by major multinational banks.’
Tanfield Chambers, 28th March 2023
Source: www.tanfieldchambers.co.uk
‘This appeal arises out of a contractual dispute between Ukraine and the Law Debenture Trust Corporation plc (“the Trustee””), acting on behalf of the Russian Federation (“Russia”).’
UKSC Blog, 15th March 2023
Source: ukscblog.com
‘Commercial court judges found “neither side had covered itself in glory” in the latest judgment in Merricks v Mastercard Incorporated and Ors.’
Law Society's Gazette, 5th February 2023
Source: www.lawgazette.co.uk
‘The UK sanctions regime does not block the courts from entering judgments in favour of a party on the sanctions list, the High Court has ruled.’
Legal Futures, 1st February 2023
Source: www.legalfutures.co.uk
‘The High Court has ruled that a circuit judge should not hear any more of a claim against HSBC because his own relationship with the bank raised the risk of apparent bias.’
Legal Futures, 23rd January 2023
Source: www.legalfutures.co.uk
‘Recent fines issued to two banks by the Financial Conduct Authority (FCA) highlight the regulator’s continued focus on driving compliance with anti-money laundering (AML) requirements in UK financial services, an expert has said.’
OUT-LAW.com, 13th January 2023
Source: www.pinsentmasons.com
‘A bank’s solicitor may owe a duty of care to the seller of the property when filling in Land Registry paperwork to change the register, the Court of Appeal has ruled.’
Legal Futures, 16th January 2023
Source: www.legalfutures.co.uk
‘The UK’s biggest banks are facing 109 class actions across different jurisdictions, 41 of them relating to interest rate swaps, research by City law firm RPC has shown.’
Legal Futures, 13th January 2023
Source: www.legalfutures.co.uk
‘Santander UK has been fined more than £100m after an investigation by the British financial watchdog found “serious and persistent gaps” in its money laundering controls, resulting in hundreds of millions of pounds of suspicious transactions through customer accounts.’
The Guardian, 9th December 2022
Source: www.theguardian.com
‘Court of Appeal judges today unanimously dismissed an appeal against the landmark decision this year to allow about three million now deceased people to continue to be part of a mammoth group action against Mastercard. The ruling concludes a six-year struggle to get the collective proceedings certified in the Competition Appeal Tribunal.’
Law Society's Gazette, 29th November 2022
Source: www.lawgazette.co.uk
‘The UK’s advertising regulator has banned two HSBC advertisements for being “misleading” about the company’s work to tackle climate change.’
BBC News, 19th October 2022
Source: www.bbc.co.uk
‘Victims of one of Britain’s biggest banking frauds will each be offered £3m compensation packages, according to a source familiar with the proposed deal expected to be announced later this week.’
The Guardian, 13th June 2022
Source: www.theguardian.com
The London Metal Exchange (LME) has been sued for $456m (£365m) by fund manager Elliott Associates following the suspension and cancellation of nickel trades earlier this year. The claim was filed in the English High Court against the trading platform and its subsidiary LME Clear.’
BBC News, 6th June 2022
Source: www.bbc.co.uk
‘The case of Hamblin v World First 2020 EWHC 2383 (Comm), decided by His Honour Judge Pelling QC, “the Judge”, in the London Circuit Commercial Court, is topical because it represents a claim made by the victim of a scam, Mr Hamblin, to recover his losses not directly from the fraudsters as the direct beneficiaries of the scam, but from the payment service provider, here World First, the company that received the monies from Mr Hamblin into an account set up by the fraudsters, and which, acting on instructions from those fraudsters, arranged for the onward payment of those monies. No allegation of dishonesty was made against the payment service provider nor was it suggested that the payment service provider had actual knowledge of the scam.’
New Square Chambers, 13th May 2022
Source: www.newsquarechambers.co.uk
‘On 19 January 2022, the Supreme Court heard the appeal in Stanford International Bank Ltd (In Liquidation) v HSBC Bank Plc. The appeal turns on whether a company in liquidation can be considered to have suffered loss where, while it is still trading, its bank pays money out of the company’s accounts to discharge debts owed by the company. It is likely that this case will further set out the limits of the Quincecare duty, following a spate of recent high-profile cases in this area.’
UKSC Blog, 26th April 2022
Source: ukscblog.com
‘Two traders jailed for rigging interest rates were the original whistleblowers of the scandal, the BBC has learned.’
BBC News, 1st March 2022
Source: www.bbc.co.uk
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