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    LIBOR, FX and Key Benchmark Rigging Claims against RBS, Barclays, HSBC & Lloyds set to Strengthen for Customers Mis-sold Derivatives

    Posted on March 9th, 2018 by Jaron Dosanjh

    The door has been opened by the Court of Appeal in PAG v RBS [2018] for misrepresentation claims to be brought by a counter-party to a derivative which is linked to LIBOR, FX or key benchmark where the Swap is […]

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    Court of Appeal to consider permission to appeal in PAG v RBS

    Posted on February 25th, 2017 by Jenny Julian

    Property Alliance Group Ltd (“PAG”) has recently filed leave to appeal to the Court of Appeal against a decision of Mrs Justice Asplin in the High Court in December 2016. The underlying litigation, the outcome of which is being appealed, […]

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

    Posted on December 19th, 2016 by M Ali Akram

    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 FCA is not equipped to resolve disputes. Tribunals offer scrutiny, justice and […]

    GRG WestRegister took 80% Equity in Bowlplex – Cost Owners £50m; while RBS Profited £9m

    Posted on December 4th, 2016 by Jenny Julian

    RBS has been accused of deliberately destroying small businesses In the past five years, LexLaw has issued more High Court litigation over bank misconduct than all other law firms in the UK By VICKI OWEN FOR THE MAIL ON SUNDAY […]

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

    Posted on November 26th, 2015 by Sivakumaran Sivathillainathan

    In a damaging judgment for RBS, the High Court has ruled that LIBOR fraud allegations against RBS in a derivatives mis-selling claim are “plainly properly arguable” and that there is evidential “support for an inference of fraud and dishonesty at the highest […]

    Legal duty to conduct the FCA IRHP Review Fairly – Suremime v Barclays Bank

    Posted on August 3rd, 2015 by Sivakumaran Sivathillainathan

    The High Court has decided that it is arguable that major banks owe duties of care to their SME customers to conduct the FCA Interest Rate Hedging Product (IRHP) Review in accordance with the rules agreed with the Financial Conduct […]

    Judicial review of FCA IRHP swaps mis-selling review scheme permitted

    Posted on April 25th, 2015 by Sivakumaran Sivathillainathan

    Holmcroft Properties Limited v KPMG (Daily Telegraph, April 25, 2015, Business 33). Holmcroft wins permission to bring a judicial review against KPMG’s conclusion that the redress offered in the redress scheme run by Barclays and reviewed by KPMG was “appropriate, fair and […]

    Enterprise Finance Guarantee Mis-Selling & Royal Bank of Scotland EFG Review

    Posted on April 21st, 2015 by Sivakumaran Sivathillainathan

    The Royal Bank of Scotland (RBS) is reviewing its past sales of 1,800 Enterprise Finance Guarantee (EFG) loans to small businesses, following concerns that RBS did not properly explain the risks of EFG loans to SME customers already in financial distress. […]

    Treasury Committee reports on Conduct in SME lending (FCA IRHP Mis-selling Review, TBLs, Hidden Swaps and GRG)  

    Posted on March 10th, 2015 by Jenny Julian

    The House of Commons Treasury Committee has today (10 March) published its report on Conduct and competition in SME lending. This report covers bank mis-sold interest rate derivatives, regulation of loans embedded with swaps (hidden swaps such as TBLs), criticisms […]

    Interest Rate Hedging Product (IRHP) Review: Confidential agreement between FCA and major banks published

    Posted on February 12th, 2015 by Sivakumaran Sivathillainathan

    The Financial Conduct Authority’s confidential agreement with several major banks, which set up the Interest Rate Hedging Product (IRHP) Review, was published today. The Treasury Select Committee has also expressed concerns that the terms of the IRHP Review has allowed major […]

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