Tag: Financial Services Litigation

business interruption insurance insured ABI BIBA FCA supreme court test case covid-19 coronavirus turnover loss FOS litigation

Insurance industry’s reaction to Supreme Court BII test case positive for businesses

The Supreme Court Business Interruption Insurance (BII) test case has brought clarity to policyholders who have been affected by COVID-19 and have previously been denied BII cover by their insurers. This is causing insurers to reassess policyholders’ disputes on a case by case basis. If you are an affected business, you should seek legal advice as soon as possible and our specialist financial services litigation team can be instructed to assist.

financial services litigation advice

Case Study: Mis-sold bridging loan to obtain bankruptcy annulment

You can apply to annul your bankruptcy on the basis that all of your debts and expenses have been repaid in full or to the satisfaction of the Court. Third parties such as claims management companies commonly assist bankrupts in obtaining a bridging loan or other short term finance. Due to the nature of these complex, high interest rate loans, you should seek legal advice in relation to the same, which loans are commonly mis-sold and can result in the individual finding themselves in further financial difficulty e.g. facing possession.

RBS fined for LIBOR Manipulation; will lead to increased LIBOR Litigation

The Financial Services Authority (FSA) has today announced a fine of £87.5 million on RBS in relation to manipulation of the London Interbank Offered Rate (“LIBOR”).   This…