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Banking Disputes

Our highly reputed banking and finance litigation team have in-depth knowledge of the global financial services sector and its regulators. We advise investment, domestic and international banks and other financial institutions on a broad range of disputes and risk management strategies.

By providing decisive, timely and clear advice on regulatory, legal and reputational issues we guide clients through complex areas of law to reach commercial and pragmatic solutions. We strive to achieve these results whilst causing as little impact as possible on the day to day running of your business.

At BLP, we believe it is important to work with clients at an early stage to assess and resolve issues before they become litigious, but to be prepared to take robust and resolute action to protect our clients’ interests wherever necessary. We work with clients to understand their broader objectives and develop appropriate and cost effective dispute resolution strategies for future protection.

Latest examples of work

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      HSBC Private Bank in $300m case

      Acting for HSBC Private Bank (UK) Limited in a US$300m case brought by two former customers concerning a delay in processing payment instructions. This landmark case focussed on the position of banks and their staff when reporting suspicions of money laundering and the extent to which banks can refuse to disclose the names of individuals that had suspicions on the grounds of relevance and/or Public Interest Immunity.

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      Credit default swap litigation

      Advising a global investment bank in disputes with the insolvent estate of an Icelandic bank relating to credit default swaps transacted prior to the bank’s insolvency.

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      ISDA Master Agreements

      Advising various market counterparties in disputes arising from the collapse of the forward freight derivatives market and the insolvency default of hundreds of millions of US dollars of notional value of contracts. We acted on Court of Appeal decisions in these cases that have had far reaching implications for the interpretation of key provisions of the ISDA Master Agreements.

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      Representing Central Bank of Nigeria

      We successfully represented Central Bank of Nigeria (CBN) in The Supreme Court. The Court upheld CBN’s appeal that defendants alleged to be dishonest assisters in a breach of trust, or knowing recipients of trust assets, are entitled to plead a statutory limitation defence. BLP’s success has brought clarity to an issue which has been the subject of conflicting case law for almost a century, and has far reaching implications for future corruption and fraud cases.

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      Access Bank high value claim against former CEO

      We successfully acted for Access Bank (one of the largest banks in Nigeria) in a major piece of litigation against its former CEO/Managing Director. The value of the claim, which included allegations of misappropriation of the Bank's funds and the operation of an illegal share purchase scheme was over £900m.

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      S.166 reviews

      Acting as a skilled person reviewing the sale of interest rate hedging products by a major financial institution. BLP was appointed as a Skilled Person under Section 166 FSMA to conduct reviews into the potential mis-selling of 4,000 interest rate hedging products to small and medium sized businesses. This is a very significant and high profile matter: BLP is the only law firm to be appointed as the principal independent reviewer for this review.

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      Market leading case on balance sheet insolvency

      Acted for the issuer vehicle in a £650m Lehman originated RMBS structure. The decision in our client’s favour in the UK Supreme Court has become the market-leading case on balance sheet insolvency, and its application to structured finance, and has had significant repercussions across the securitisation world.

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