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Appeals UK Supreme Court Banking Sector

ArentFox Schiff

The End of LIBOR: Hotel California Edition [Part V]

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In a recent alert, we highlighted the United Kingdom (UK) benchmark manipulation cases of Tom Hayes and Carlo Palombo from 2015 and 2019, respectively. Hayes was the first banker to be jailed in the LIBOR scandal....more

Jenner & Block

Client Alert: UK Supreme Court Decision in R v Hayes/Palombo

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Last week the United Kingdom’s Serious Fraud Office (SFO) announced that, as a result of the UK Supreme Court's decision in R v Hayes/Palombo, a number of convictions arising from allegations of manipulation of well-known key...more

White & Case LLP

Tinkler v Esken Limited: was Mr. Tinkler swindled? Court of Appeal dismisses application to set aside a judgment alleged to be...

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A challenge to a Court judgment on grounds of fraud brings into conflict two fundamental principles of English law: (i) the finality of judgments; and (ii) the principle that fraud unravels all. Given the importance of the...more

White & Case LLP

Landmark UK Supreme Court decision clarifies scope of banks’ so-called ‘Quincecare duty’

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In Philipp v Barclays Bank UK PLC, the UK Supreme Court has given unanimous judgment in favour of Barclays Bank, and provided clear guidance on the so-called ‘Quincecare duty’ owed by banks to their customers. White & Case...more

Conyers

Liquidators Beware: an Alternative to Quincecare

Conyers on

The Quincecare duty has become a popular tool for companies (or their liquidators) to claim against banks for funds misappropriated on wrongful payment instructions. It requires a bank to refrain from executing a payment...more

White & Case LLP

UK Supreme Court upholds first successful claim for breach of the "Quincecare" duty financial institutions owe their customers

White & Case LLP on

In Singularis Holdings Ltd (In Official Liquidation) v Daiwa Capital Markets Europe Ltd ([2019] UKSC 50), the Supreme Court upheld the first successful claim in negligence by a customer of a financial institution for breach...more

Latham & Watkins LLP

UK Supreme Court Upholds First Successful Claim for Breach of Quincecare Duty

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In a leading case, the Court examined the extent of the duty of care that a bank owes to its customers when executing their orders. On 30 October 2019, the UK Supreme Court dismissed Daiwa’s appeal in the case of...more

Morrison & Foerster LLP

English Law Routes Exhausted for Banco Esporito Santo Creditors: English Law Challenges to EU Bank Restructurings Firmly Closed...

Summary – Decision of U.K. Supreme Court - The U.K. Supreme Court has closed off a challenge to the restructuring of Banco Esporito Santo (BES) under English law. Through an emergency liquidity facility creditors had...more

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