Tag: Fraud

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RBS v JP SPC 4 & Another: The Privy Council Restricts Banks’ Quincecare Duty

In the recent case of RBS v JP SPC 4 & Another, the Privy Council upheld the striking out of a claim against the Royal Bank of Scotland for damages of over £60 million.

Post date 15 April 2022
Post author By LEXLAW Solicitors & Barristers
Post categories In Banking Dispute Resolution Service, Banking Law, Fraud, Litigation, News
Tags banking dispute resolution service, Banking Law, Fraud, Litigation, privy council, Tort

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APPG complaint to SRA against Lloyds’ legal advisers Herbert Smith Freehills in HBOS review scheme

The All-Party Parliamentary Group (“APPG”) have submitted a lengthy complaint to the SRA against Herbert Smith Freehills, legal advisers to Lloyds Banking Group during the lender’s compensation review scheme in relation to fraud at HBOS. The scheme is due to reopen following Sir Ross Cranston’s report that Lloyds’ original customer review had ‘serious shortcomings’.

Post date 20 July 2020
Post author By Sophia Hanif
Post categories In Banking Dispute Resolution Service, Banking Law, Financial Mis-selling, Fraud, Lloyds, Lloyds HBOS
Tags Fraud, HBOS, Independent Reviewer, Lloyds, SRA

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LIBOR fraud claim falls at the limitation hurdle

The High Court has struck out a LIBOR fraud claim brought by a property investment firm against two renowned banks Natwest and RBS, two weeks after the publication of FCA’s findings against the banks, concluding that it was time barred.

Post date 15 June 2020
Post author By Sophia Hanif
Post categories In FCA, Financial Mis-selling, Financial Services Litigation, Fraud, LIBOR, LIBOR manipulation, Litigation
Tags Fraud, LIBOR Manipulation

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The Lawyer: ‘Charity gains ground in RBS and NatWest mis-selling claim’

The Lawyer reports: Not-for-profit organisation Wenta has gained ground in its case against DLA Piper clients NatWest and the Royal Bank of Scotland for which it is now…

Post date 25 July 2017
Post author By LEXLAW Solicitors & Barristers
Post categories In Banking Law, Borrower Protection, Derivatives, Financial Services Litigation, Fixed Rate Loans, IRHP Reviews, Litigation, News
Tags Banking Law, Banks, Derivatives, Disclosure, FCA, Financial Conduct Authority, Financial Regulation, Financial Services, Financial Services Authority, Fraud, Hedging, Interest Rate Swaps, IRHP, LIBOR, Litigation, Mis-selling, NatWest, RBS, slide, Swaps Mis-selling

Petition: Establish a Financial Services Tribunal to resolve customer disputes.

Major banks and other financial services institutions are often in dispute with customers who deserve protection. Access to court is costly. The FOS ombudsman scheme is inadequate. The…

Post date 19 December 2016
Post author By M Ali Akram
Post categories In Banking Law, Borrower Protection, Derivatives, Enterprise Finance Guarantee, Financial Services Litigation, Fixed Rate Loans, IRHP Reviews, Litigation, News, Professional Negligence, Westregister, White Collar Crime
Tags Banking Law, Banks, Barclays, Clydesdale Bank, Derivatives, FCA, Financial Conduct Authority, Financial Regulation, Financial Services, Financial Services Authority, Financial Services Tribunal, Fraud, FSA, FST, Global Restructuring Group, GRG, GRG Review, Hedging, HSBC, Interest Rate Swaps, IRHP, IRHPs, LIBOR Litigation, LIBOR Manipulation, Limitation Act, Litigation, Lloyds, Media, Mis-selling, Petition, RBS, Swaps Mis-selling, Swaps Settlements, WestRegister, Yorkshire Bank

Consumer Rights Act / Unfair terms / Contractual relationships / Expert Legal Advice / Litigation Lawyers / Barristers

Court of Appeal grant permission to appeal based on LIBOR and Negligent IRHP Review arguments

The Court of Appeal has allowed WW Property Investments Ltd to appeal against NatWest over mis-sold interest rate derivatives and the negligent conduct of the IRHP review. This landmark decision challenges banks’ redress offers and recognition of consequential losses, encouraging affected customers and SME victims to seek legal advice for potential claims. The ruling could impact limitation periods and existing non-advisory defenses employed by banks, with major implications for financial services litigation and previous IRHP Review outcomes.

Post date 29 November 2016
Post author By LEXLAW Solicitors & Barristers
Post categories In Banking Law, Borrower Protection, Financial Services Litigation, IRHP Reviews, Litigation
Tags Banking Law, Banks, Barclays, Clydesdale Bank, Consequential Loss, Derivatives, FCA, FCA Review, FCA Swaps Review, Financial Conduct Authority, Financial Ombudsman Service, Financial Regulation, Financial Services, Financial Services Authority, Fraud, FSA, Hedging, Interest Rate Swaps, IRHP, IRHPR, IRHPs, LIBOR, LIBOR Litigation, LIBOR Manipulation, Litigation, Lloyds, Mis-selling, NatWest, Negligence, RBS, Swaps Mis-selling, Yorkshire Bank

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High Court slams Dentons and RBS for “cavalier” attitude to disclosure

A Financial List judge has determined Dentons and Royal Bank of Scotland to be “cavalier” in failing to comply with a disclosure order handed down last year in…

Post date 4 August 2016
Post author By LEXLAW Solicitors & Barristers
Post categories In Banking Law, Borrower Protection, Financial Services Litigation, GRG Review, Litigation
Tags Banking Law, Banks, Derivatives, Disclosure, Financial List, Financial Services Authority, Fraud, GRG, Hedging, Interest Rate Swaps, LIBOR, LIBOR Litigation, LIBOR Manipulation, Litigation, Unlawful Means Conspiracy, WestRegister

LIBOR fraud arguable in swaps mis-selling claims; Resetting the 6-year contractual limitation clock

The High Court ruled that fraud allegations against RBS concerning LIBOR manipulation in a derivatives mis-selling claim were “properly arguable,” affecting SMEs sold IRHPs by major banks. LIBOR, a crucial interest rate benchmark, had been rigged by banks including RBS, resulting in hefty fines. RBS admitted misconduct in its LIBOR submissions. Property Alliance Group’s (PAG) case against RBS may set a precedent for extending time limits on claims, emphasizing the importance of seeking legal advice on mis-selling claims affected by LIBOR fraud.

Post date 26 November 2015
Post author By Sivakumaran Sivathillainathan
Post categories In Banking Law, Borrower Protection, Financial Services Litigation, Fraud, Litigation, News
Tags Bank of Scotland, Banking Law, Banks, Barclays, Derivatives, Deutsche Bank, FCA, Financial Conduct Authority, Financial Regulation, Financial Services, Financial Services Authority, Fraud, FSA, Hedging, HSBC, Interest Rate Swaps, IRHP, IRHPs, JP Morgan, LIBOR, LIBOR Fraud, LIBOR Litigation, LIBOR Manipulation, LIBOR Rigging, Limitation Act, Litigation, Lloyds, Mis-selling, RBS, Swaps Mis-selling, UBS

Barclays’ appeal in ‘LIBOR test case’ dismissed by Court of Appeal

The Court of Appeal has today dismissed Barclays’ appeal in the case of Barclays Bank v Graiseley, which has been referred to as the ‘LIBOR test case’. The…

Post date 8 November 2013
Post author By LEXLAW Solicitors & Barristers
Post categories In Banking Law, Barclays, Borrower Protection, Civil Litigation, Financial Services Litigation, LIBOR, LIBOR manipulation, Litigation
Tags Banking Law, Banks, Barclays, Derivatives, Deutsche Bank, Fraud, Hedging, Interest Rate Swaps, IRHPs, LIBOR, LIBOR Litigation, LIBOR Manipulation, Litigation, Mis-selling, Swaps Mis-selling, Unitech

White Collar Crime Update: “Making and Accepting a Financial Advantage” under the Bribery Act 2010

The Serious Fraud Office (SFO) has brought the first set of charges under the Bribery Act 2010 against a UK company allegedly involved in a £23 million bio-fuel investment fraud.…

Post date 29 August 2013
Post author By LEXLAW Solicitors & Barristers
Post categories In Criminal Defence, Fraud, White Collar Crime
Tags Bribery, Bribery Act 2010, Criminal Defence, Financial Crime, Fraud, Serious Fraud Office, White Collar Crime

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