Financial Services & Banking Disputes
Carter-Ruck has extensive experience of representing clients in high-value claims against financial institutions, particularly UK and international banks. We are recommended in the banking litigation sections of both of the leading legal directories (Chambers & Partners and the Legal 500) for our work in this area.
As a litigation firm, we do not act for any of the major retail banks and so, unlike most City firms, we are not conflicted from acting against them.
Our team has experience of handling cases relating to numerous types of products and facilities. We have particular expertise in pursuing large and complex claims relating to various derivatives, including interest rate hedging products and foreign exchange (Forex) hedging products.
For several years Carter-Ruck has been at the forefront of efforts to help businesses recover losses from banks in claims arising out of interest rate hedging products (“IRHPs”) such as swaps, collars and structured collars. The firm has secured settlements with a total value in excess of £50m. Our work in this area has been featured by the BBC and ITN as well as other national media including the Daily Telegraph.
Notable case highlights include:
- Advising a large multinational on claims against two international banks in relation to FX transactions where the losses suffered by the client were in excess of £100m.
- Acting for an ultra-high net worth individual in relation to a complaint brought in relation to investment and borrowing advice given by the private wealth division of a leading bank. The matter settled in our client’s favour.
- Representing a firm of solicitors in a substantial claim against Barclays relating to fraud by an unrelated third party. The claim was successful, with Barclays agreeing to repay the entirety of the amount claimed, as well as legal costs.
- Acting for various high-net worth individuals in claims against Coutts involving AIG premier enhanced fund bonds, securing substantial settlements in each instance.