News & Analysis as of

Banking Sector United Kingdom Appeals

A&O Shearman

Not just another drop in the ocean: Thames Water and developments in restructuring plans since Adler

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In this alert, we take a look at some of the principal points arising from the Court of Appeal’s judgment in respect of the Thames Water restructuring plan, as well as the broader state of play for restructuring plans in the...more

A&O Shearman

Permission to appeal granted against Financial Ombudsman Service decision concerning motor finance discretionary commission...

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Barclays Partner Finance has been granted permission to appeal against the Administrative Court's judgment in R (Clydesdale Financial Services Ltd) v Financial Ombudsman Service Ltd [2024] EWHC 3237 (Admin)...more

A&O Shearman

UK Financial Conduct Authority Supports Expedition of Appeals of Motor Finance Decisions

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The U.K. Financial Conduct Authority has published a letter addressed to the Supreme Court regarding the applications for permission to appeal to the SC and requests for expedition in the recent motor finance commission...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

White & Case LLP

Court of Appeal: Banks’ Quincecare duty may apply to instructions from defrauded customers

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In Philipp v Barclays Bank UK PLC, the Court of Appeal held that the Quincecare duty may apply to direct customer instructions (not just those through an agent), such that banks may be liable for failing to protect against...more

Latham & Watkins LLP

English Court of Appeal Overturns Decision that Guaidó Appointed Central Bank of Venezuela Board Controls Gold Reserves in England

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The decision confirms that the UK government can recognise one person as de jure head of state of a foreign state and implicitly recognise another person as the de facto head of state. The English Court of Appeal’s recent...more

White & Case LLP

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

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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

Cadwalader, Wickersham & Taft LLP

English Court of Appeal Decision in Significant Test Case: Property Alliance Group v Royal Bank of Scotland

On 2 March 2018, the Court of Appeal handed down its highly-anticipated judgment in Property Alliance Group (“PAG”) v Royal Bank of Scotland (“RBS”), dismissing all of PAG’s grounds of appeal and overturning a finding of...more

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