Commercial Disputes News
Latest Commercial Disputes News & Publications
Mr Wafic Saïd, the Syrian businessman and philanthropist, has resolved his legal action against Barclays Bank after the bank apologised publicly to him for the way it ended their banking relationship and clarified the basis for its decision.
Click here to read the joint statement
Click here for Financial Times article
Carter-Ruck clients successful in substantial interest rate hedging product consequential loss claim
Two Carter-Ruck clients have received substantial consequential redress awards under the Financial Conduct Authority’s Interest Rate Hedging Product Review.
The IRHP Review recommended that, including interest, the two companies be awarded in total almost £400,000 in basic redress and a further £825,000 in consequential losses.
Read more here
Chambers and Partners notes that the team is known for its “conflict-free practice receiving mandates from claimants in high-profile banking disputes” and states that it is “well versed in issues arising across financial products and derivatives, as well as related fraud matters.”
The Legal 500 recognises the team in its “Banking Litigation: Investment and Retail” section.
Stevie Loughrey and Charles Enderby Smith examine the potential changes in the legal landscape which may make it easier for companies to bring claims against banks in relation to mis-sold products and investments.
This article was first published in Butterworths’ Journal of International Banking and Financial Law
PAG v RBS: Claimant friendly decisions in relation to disclosure applications in a claim involving LIBOR manipulation
The judgments should assist claimants seeking to establish actionable wrongdoing resulting from LIBOR manipulation. In particular, a defendant bank will not necessarily be able to hide behind confidential agreements with regulators to avoid disclosure of LIBOR related material in claims brought against it. Neither will the risk of prosecution in foreign courts, for disclosing documents that a foreign court had ordered to be kept confidential, necessarily provide the banks with a shield.
Carter-Ruck has secured victory for US golf manufacturer, SuperStroke, in its trademark and passing off claim against an English golf retailer.
SuperStroke was represented by Carter-Ruck Partner, Stevie Loughrey, and Senior Associate, Claire Woolf.
Charles Enderby Smith has written an article in the Law Society Gazette on the recent judgment in Suremime Ltd v Barclays regarding tortious claims against a bank for allegedly failing to carry out a review into the mis-sale of IRHPs in accordance with the agreement reached between that bank and the FCA.
Click here to read the article
A high value negligence claim, arising from an unsuccessful property development in London, has been settled on confidential terms. Carter-Ruck’s Ruth Collard and Dominic Garner were advising parties to the claim, which had been conducted before the courts of Guernsey.
There has been an interesting development in the courts relating to the FCA instigated Interest Rate Hedging Product Review, which may have significant consequences for any small business affected by the mis-sale of Interest Rate Hedging Products (“IRHPs”) over the last 15 years.
A version of this article was published in the New Law Journal.
Carter-Ruck has been commended as a leading firm for banking litigation in the new editions of the two leading legal directories, Chambers and Legal 500.