News & Events
News & Events
Graiseley Properties Limited & Ors (“Guardian Care Homes”) v Barclays Bank Plc [2012] EWHC 3093 (Comm) On 29th October 2012 The Hon Mr Justice Flaux gave the claimants permission to amend their claim to plead fraudulent misrepresentations arising from Barclays admitted involvement in Libor fixing (Tim Lord QC and Farhaz Khan acted for the Claimants). On 2nd April 2013 Barclays sought permission to appeal the Order of Flaux J. Lord Justice More-Bick gave Barclays permission to appeal on 22 April 2013. The matter will be heard by the Court of Appeal with the appeal from the judgment of The Hon Mr justice Cooke in Unitech Holdings Limited v Deutsche Bank. The test case will now be heard by Flaux J…
News 30 Apr, 2013
Settlement was reached today of a substantial investment mis-selling claim involving the marketing of an unregulated Collective Investment Scheme (CIS). Providing an overview, Richard said: “A likely inequality of resources is an understandable concern for individuals wishing to sue a defendant bank under section 150 of the Financial Services and Markets Act 2000. The early settlement of this case after Particulars of Claim were served demonstrates the value of intense early work on a claim to ensure it is made as strong as possible. This included obtaining expert evidence on the key issue of suitability and enabled a detailed, strongly pleaded claim which fully referenced the Conduct of Business Sourcebook to be presented to the bank from the outset. The…
News 15 Feb, 2013
Judgment has been handed down in Stone Consultants Ltd v NatWest [2013] EWHC 208 (Ch) in which the claimants alleged that NatWest and one of its bankers was complicit in a £300m Ponzi scheme. Nicholas Medcroft, instructed by Berwin Leighton Paisner, acted for NatWest which successfully defeated claims for conspiracy, dishonest assistance, deceit, unjust enrichment and negligence. After a 4 week trial Mr Justice Sales dismissed all claims against the bank.
News 12 Feb, 2013
The Birmingham Mercantile Court recently refused an application by Barclays for an indefinite stay of proceedings in an interest rate swaps mis-selling case brought against Barclays Bank plc. Graiseley Investments Limited & Ors (the Guardian Care Group) v Barclays is notable as the first case in the UK which pleads Libor misrepresentation (issued in April 2012). Barclays sought to defer pleading a defence to the claim, and pause proceedings generally, until such time as a ‘redress’ scheme, the fact of which has been agreed between the FSA and number of banks including Barclays, had run its course. The precise details of the scheme are as yet unpublished. The scheme is itself unusual for the fact that it is not one…
News 2 Sep, 2012
Robert Rhodes QC was interviewed by Al-Jazeera’s English channel about the Barclays scandal regarding the fixing of Libor and Euribor rates, which resulted in regulatory fines of nearly £300M on the bank.
News 27 Jun, 2012
The judgment in Shah v HSBC Private Bank is now out. After three interlocutory appeals in the Court of Appeal in which the Bank largely succeeded, they have now succeeded completely at trial. Richard Lissack QC and Nicholas Medcroft acted as Leading and Junior Counsel for the Bank. The Claimants put their claims for in excess of $300,000,000 on two bases: first, that the Bank was in breach of contract in failing to process their payment instructions; second, that the Bank was in breach of contract in failing to provide them with information as to the facts that had caused it to fail to effect the first and second transactions, documentary evidence of the same, the name of the authority…
News 15 May, 2012
