Creative problem solvers for complex financial claims.

Although it occurred over a decade ago, the economic world is still feeling the ripple effects of the 2008 financial crisis today. Whilst the climate has stabilised, the resulting rigorous scrutiny of financial institutions and now the added pressure of Brexit uncertainty have undoubtedly contributed to a rising number of disputes. Pursuing a claim can be stressful and overwhelming. You need a team with the knowledge and expertise to guide you swiftly through the process, providing you with innovative and commercially focused solutions to achieve the best possible outcome for your business.

Our Banking & financial disputes team works with entities interacting with banks and other large financial institutions, predominantly as claimants, in disputes over benchmark manipulation, investments, structured finance, derivatives, loans, guarantees and other forms of security. Our clients include UK and offshore companies, financial institutions, hedge funds, finance industry professionals and high net worth investors. Distinctively, we are a “conflict of interest free” team which means we can take on claims against any of the major banks or financial institutions.

Our team is made up of creative problems solvers with particular expertise in pursuing high value and complex claims which often involve an international element. We integrate with your team, working with you closely to gain a thorough understanding of the specifics of your business so we can devise a uniquely tailored strategy which aligns with your wider commercial interests. We pride ourselves on our commitment to finding new and better ways to help our clients resolve their disputes and move their businesses forward.


£1.5Bn

Approx. combined value of benchmark manipulation claims handled

£3Bn

Approx. combined nominal value of interest rate swap claims handled

+

Disputes with banks

+

Major banks acted against in disputes

Percentage of disputes with banks to date resolved before trial


 

Creative problem solvers for complex financial claims.

Although it occurred over a decade ago, the economic world is still feeling the ripple effects of the 2008 financial crisis today. Whilst the climate has stabilised, the resulting rigorous scrutiny of financial institutions and now the added pressure of Brexit uncertainty have undoubtedly contributed to a rising number of disputes. Pursuing a claim can be stressful and overwhelming. You need a team with the knowledge and expertise to guide you swiftly through the process, providing you with innovative and commercially focused solutions to achieve the best possible outcome for your business.

Our Banking & financial disputes team works with entities interacting with banks and other large financial institutions, predominantly as claimants, in disputes over benchmark manipulation, investments, structured finance, derivatives, loans, guarantees and other forms of security. Our clients include UK and offshore companies, financial institutions, hedge funds, finance industry professionals and high net worth investors. Distinctively, we are a “conflict of interest free” team which means we can take on claims against any of the major banks or financial institutions.

Our team is made up of creative problems solvers with particular expertise in pursuing high value and complex claims which often involve an international element. We integrate with your team, working with you closely to gain a thorough understanding of the specifics of your business so we can devise a uniquely tailored strategy which aligns with your wider commercial interests. We pride ourselves on our commitment to finding new and better ways to help our clients resolve their disputes and move their businesses forward.


£1.5Bn

Approx. combined value of benchmark manipulation claims handled

£3Bn

Approx. combined nominal value of interest rate swap claims handled

+

Disputes with banks

+

Major banks acted against in disputes

Percentage of disputes with banks to date resolved before trial


 

More information

Aviation financial disputes

We act for airlines, lessors, lessees, lenders and borrowers in disputes over commercial aircraft leasing and financing, redelivery condition claims and repossession of aircraft.

Cryptocurrency and blockchain

We have specialist experience and familiarity in the emerging area of blockchain and cryptocurrency. To date, the largely unregulated nature of this sector has made it frequently prone to fraud and the risk of money laundering.

Working closely with our Non-contentious colleagues, we have advised on some of the first disputes in the UK relating to digital currencies.

Cyber fraud

We have experience of advising and acting for a number of clients when they have been the victims of cyber fraud, including high net worth individuals and listed companies. Whether the fraud is perpetrated through fraudulent bank instructions supposedly made by or on behalf of the victim, or through false emails deceiving the victim into transferring funds to the perpetrator, the key is to act quickly. The faster the response from the victim, the more likely it is that the perpetrator will not yet have had an opportunity to dissipate or siphon off the funds.

We can assist with seeking to recover the funds from the perpetrators or the bank, and making complaints to the Financial Ombudsman in the event that the bank refuses to cooperate. We also have experience of conducting internal investigations for corporate clients in order to determine how a fraud has been perpetrated.

FCA regulatory and enforcement

Our team has experience in responding to and preparing for regulatory investigations and enforcement actions. Working closely with colleagues across our Financial Services sector team, we can assist with a wide range of civil and regulatory investigations and actions by the Financial Conduct Authority.

Forex manipulation claims

Our team has expertise in advising on claims for Forex manipulation.

Evidence of Forex (fx) manipulation emerged in 2013 and has led to investigations by regulatory agencies and market-competition authorities worldwide.

Forex manipulation can have an important effect on forex (fx) derivatives that banks mis-sold to their customers. The advantage of the derivative was usually that at the initial stages, the customer was given a favourable rate for forex. The disadvantage was a “sting in the tail”.  Movements in the forex spot rate could lead to very costly consequences.

Freezing of accounts by banks

We have assisted a number of clients who have found their bank accounts frozen unilaterally by their bank.  A frozen account can place clients in a severe predicament.

Accounts are often frozen because the bank has made a Suspicious Activity Report (SAR) to the National Crime Agency.  Whilst banks are obliged to report suspicious activity, SARs can be, and often are, triggered by entirely innocent behaviour.

We have acted for many clients in such situations.  We prioritise seeking access to funds in the frozen account as quickly as possible by liaising directly with the bank.  Also, once the situation is resolved, we can advise on potential legal remedies and claims against the bank; and we can assist the client in establishing accounts with a new bank.

LIBOR manipulation claims

Since the first major revelation of financial benchmark manipulation in June 2012, when the FCA fined Barclays Bank Plc £59.5 million for Libor manipulation, we have been deeply involved in the analysis and pursuit of legal claims on behalf of claimants.

Shareholders’ group actions

Shareholder group actions are a fast-growing area, often attracting significant attention in the press. Given recent developments however, this is still an area of much legal uncertainty. Shareholders may be unclear about the potential benefits and risks of taking part in a group action.

We offer independent, tailored advice to institutional and private investors who are considering whether to commence or participate in group actions. We also advise litigation funders seeking advice on the various complex legal issues that can arise in funding group actions of this nature.

Tax disputes

A dispute with HMRC can happen for an array of reasons, be it errors made in previous tax returns, HMRC taking an aggressive stance on tax planning, or HMRC simply having a different view of what tax is payable.

We act for businesses and individuals facing enquiries from HMRC and involved in disputes with it, advising our clients on their rights and options, and helping our clients to navigate their way through the area. We have experience in reaching satisfactory settlements with HMRC and also in pursuing taxpayer appeals to the Tax Tribunal and judicial review applications to the High Court.

Aviation financial disputes

We act for airlines, lessors, lessees, lenders and borrowers in disputes over commercial aircraft leasing and financing, redelivery condition claims and repossession of aircraft.

Cryptocurrency and blockchain

We have specialist experience and familiarity in the emerging area of blockchain and cryptocurrency. To date, the largely unregulated nature of this sector has made it frequently prone to fraud and the risk of money laundering.

Working closely with our Non-contentious colleagues, we have advised on some of the first disputes in the UK relating to digital currencies.

Cyber fraud

We have experience of advising and acting for a number of clients when they have been the victims of cyber fraud, including high net worth individuals and listed companies. Whether the fraud is perpetrated through fraudulent bank instructions supposedly made by or on behalf of the victim, or through false emails deceiving the victim into transferring funds to the perpetrator, the key is to act quickly. The faster the response from the victim, the more likely it is that the perpetrator will not yet have had an opportunity to dissipate or siphon off the funds.

We can assist with seeking to recover the funds from the perpetrators or the bank, and making complaints to the Financial Ombudsman in the event that the bank refuses to cooperate. We also have experience of conducting internal investigations for corporate clients in order to determine how a fraud has been perpetrated.

FCA regulatory and enforcement

Our team has experience in responding to and preparing for regulatory investigations and enforcement actions. Working closely with colleagues across our Financial Services sector team, we can assist with a wide range of civil and regulatory investigations and actions by the Financial Conduct Authority.

Forex manipulation claims

Our team has expertise in advising on claims for Forex manipulation.

Evidence of Forex (fx) manipulation emerged in 2013 and has led to investigations by regulatory agencies and market-competition authorities worldwide.

Forex manipulation can have an important effect on forex (fx) derivatives that banks mis-sold to their customers. The advantage of the derivative was usually that at the initial stages, the customer was given a favourable rate for forex. The disadvantage was a “sting in the tail”.  Movements in the forex spot rate could lead to very costly consequences.

Freezing of accounts by banks

We have assisted a number of clients who have found their bank accounts frozen unilaterally by their bank.  A frozen account can place clients in a severe predicament.

Accounts are often frozen because the bank has made a Suspicious Activity Report (SAR) to the National Crime Agency.  Whilst banks are obliged to report suspicious activity, SARs can be, and often are, triggered by entirely innocent behaviour.

We have acted for many clients in such situations.  We prioritise seeking access to funds in the frozen account as quickly as possible by liaising directly with the bank.  Also, once the situation is resolved, we can advise on potential legal remedies and claims against the bank; and we can assist the client in establishing accounts with a new bank.

LIBOR manipulation claims

Since the first major revelation of financial benchmark manipulation in June 2012, when the FCA fined Barclays Bank Plc £59.5 million for Libor manipulation, we have been deeply involved in the analysis and pursuit of legal claims on behalf of claimants.

Shareholders’ group actions

Shareholder group actions are a fast-growing area, often attracting significant attention in the press. Given recent developments however, this is still an area of much legal uncertainty. Shareholders may be unclear about the potential benefits and risks of taking part in a group action.

We offer independent, tailored advice to institutional and private investors who are considering whether to commence or participate in group actions. We also advise litigation funders seeking advice on the various complex legal issues that can arise in funding group actions of this nature.

Tax disputes

A dispute with HMRC can happen for an array of reasons, be it errors made in previous tax returns, HMRC taking an aggressive stance on tax planning, or HMRC simply having a different view of what tax is payable.

We act for businesses and individuals facing enquiries from HMRC and involved in disputes with it, advising our clients on their rights and options, and helping our clients to navigate their way through the area. We have experience in reaching satisfactory settlements with HMRC and also in pursuing taxpayer appeals to the Tax Tribunal and judicial review applications to the High Court.

LIBOR manipulation

Read more

We have been acting for a number of clients in major court proceedings against numerous banks that had engaged in LIBOR manipulation. We are currently seeking rescission of lending agreements to the total value of approximately £1.5 billion.

Robin Henry

Partner - Head of Dispute Resolution Services

Crypto currency account dispute

Read more

We are currently acting for a client who entered into a trade on a cryptocurrency exchange, making a large windfall profit. The dispute is with the exchange following its freezing of the account alleging that the cryptocurrency wallet had been hacked.

Robin Henry

Partner - Head of Dispute Resolution Services

Bank covenants and sanctions

Read more

We are currently acting for a group of companies owned by a Russian individual who is subject to US sanctions, in their negotiations with 8 international banks alleging breach of covenant as a result of the imposition of the sanctions and consequent rights to seize security.

Robin Henry

Partner - Head of Dispute Resolution Services

Claims for mis-selling of complex FX derivatives

Read more

In one of numerous cases relating to the sale of forex derivatives, we are currently advising a national retail group on a claim against four banks arising from complex FX options, involving allegations of mis-selling by the banks and claims for negligence against the company’s auditors and also breach of duty.

Robin Henry

Partner - Head of Dispute Resolution Services

US depositions

Read more

We are representing a bank plaintiff in a USD 1 billion claim in the US regarding the obligations of former employees to give depositions in England to the opponent’s lawyers and representing the employees in the deposition taking.

Robin Henry

Partner - Head of Dispute Resolution Services

Day trading platform dispute

Read more

We are acting for a brokerage in a dispute with a trader claiming £10 million profit on allegedly unauthorised trades.  We have been advising our clients on the strategy in French proceedings and whether the profit could be returned to shareholders as a reduction of capital.

Robin Henry

Partner - Head of Dispute Resolution Services

Frankfurt Stock Exchange dispute

Read more

We are acting for a London based trader at a US hedge fund with USD30 billion in assets under management in successfully disputing sanctions imposed on him by the Frankfurt Stock Exchange (with FCA consequences) over the use by his colleagues of his trading ID.

Robin Henry

Partner - Head of Dispute Resolution Services

Anglo-Italian jurisdiction dispute

Read more

We are currently acting for a major Italian utilities company in a dispute with a major bank over interest rate swaps and associated financial transactions involving complex jurisdiction issues concerning proceedings brought in the English and Italian courts and competing interpretations of English, Italian and EU law.

LIBOR manipulation

We have been acting for a number of clients in major court proceedings against numerous banks that had engaged in LIBOR manipulation. We are currently seeking rescission of lending agreements to the total value of approximately £1.5 billion.

Robin Henry

Partner - Head of Dispute Resolution Services

Crypto currency account dispute

We are currently acting for a client who entered into a trade on a cryptocurrency exchange, making a large windfall profit. The dispute is with the exchange following its freezing of the account alleging that the cryptocurrency wallet had been hacked.

Robin Henry

Partner - Head of Dispute Resolution Services

Bank covenants and sanctions

We are currently acting for a group of companies owned by a Russian individual who is subject to US sanctions, in their negotiations with 8 international banks alleging breach of covenant as a result of the imposition of the sanctions and consequent rights to seize security.

Robin Henry

Partner - Head of Dispute Resolution Services

Claims for mis-selling of complex FX derivatives

In one of numerous cases relating to the sale of forex derivatives, we are currently advising a national retail group on a claim against four banks arising from complex FX options, involving allegations of mis-selling by the banks and claims for negligence against the company’s auditors and also breach of duty.

Robin Henry

Partner - Head of Dispute Resolution Services

US depositions

We are representing a bank plaintiff in a USD 1 billion claim in the US regarding the obligations of former employees to give depositions in England to the opponent’s lawyers and representing the employees in the deposition taking.

Robin Henry

Partner - Head of Dispute Resolution Services

Day trading platform dispute

We are acting for a brokerage in a dispute with a trader claiming £10 million profit on allegedly unauthorised trades.  We have been advising our clients on the strategy in French proceedings and whether the profit could be returned to shareholders as a reduction of capital.

Robin Henry

Partner - Head of Dispute Resolution Services

Frankfurt Stock Exchange dispute

We are acting for a London based trader at a US hedge fund with USD30 billion in assets under management in successfully disputing sanctions imposed on him by the Frankfurt Stock Exchange (with FCA consequences) over the use by his colleagues of his trading ID.

Robin Henry

Partner - Head of Dispute Resolution Services

Anglo-Italian jurisdiction dispute

We are currently acting for a major Italian utilities company in a dispute with a major bank over interest rate swaps and associated financial transactions involving complex jurisdiction issues concerning proceedings brought in the English and Italian courts and competing interpretations of English, Italian and EU law.

View our Banking & financial disputes Lawyers:

Stephen Rosen

Stephen Rosen

Partner - Head of Banking & Financial Disputes

Talk to Stephen about Banking & financial disputes

Janine Alexander
Robin Henry

Robin Henry

Partner - Head of Dispute Resolution Services

Talk to Robin about Banking & financial disputes & Insolvency & corporate recovery

Stephen Critchley

Stephen Critchley

Senior Associate

Talk to Stephen about Competition

Craig Deuchrass

Craig Deuchrass

Senior Associate

Talk to Craig about Banking & financial disputes

Simon de Broise

Simon de Broise

Senior Associate

Talk to Simon about Banking & financial disputes

Anna Battams

Anna Battams

Associate

Talk to Anna about Banking & financial disputes

Gurpreet Chhokar

Gurpreet Chhokar

Associate

Talk to Gurpreet about Competition

Audrey Favreau

Audrey Favreau

Associate

Talk to Audrey about Banking & financial disputes

Helen Ingram

Helen Ingram

Associate

Talk to Helen about Banking & financial disputes

Jean-Martin Louw

Jean-Martin Louw

Associate

Talk to Jean-Martin about Banking & financial disputes

Jonny Mitchell

Jonny Mitchell

Associate

Talk to Jonny about Banking & financial disputes

Adam Solomon

Adam Solomon

Associate

Talk to Adam about Banking & financial disputes