Interest Rate Hedging Products (“IRHPs”)

Carter-Ruck has been at the forefront of efforts to help businesses recover losses from banks in claims arising out of IRHPs such as swaps, collars and structured collars.
Its work in this area contributed to its commendation in the banking litigation section of the two main legal directories, the Legal 500 and Chambers & Partners.
The Legal 500 states:
Carter-Ruck’s lawyers ‘have genuine expertise in banking issues’. The litigation practice is experienced in derivatives, interest rate hedging products and FX products, and is recommended for cases involving manipulation of underlying benchmark rates. Alasdair Pepper is ‘exceptionally intelligent’, and Stevie Loughrey is ‘an excellent tactician’. Adam Tudor is also recommended.
The firm is known for aggressively advancing its clients’ interests and pursuing litigation where necessary. It takes a holistic and commercial view of cases and has a track record of securing successful settlements.
It specialises in pursuing large claims in the High Court. Over recent years the firm has secured redress for clients in excess of £50m and relieved those clients of very substantial future liabilities. As is the norm in this area, the details of the settlements are covered by confidentiality agreements. However a flavour of the results obtained is set out below:
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