Banking litigation update *

United Kingdom - July 19 2012
In Lomas, the Court of Appeal heard four joined appeals concerning the interpretation of various provisions of the ISDA Master Agreement.

Co-authors: Simon Clarke, Damien Byrne-Hill.

Cassa di Risparmio della Repubblica di San Marino S.p.A. v Barclays Bank Ltd: when is a AAA rating more than a AAA rating? *

United Kingdom - March 31 2011
The recent High Court judgment in Cassa di Risparmio della Repubblica di San Marino S.p.A. v Barclays Bank Ltd [2011] EWHC 484 (Comm) will be welcomed by financial institutions who were involved in structuring and selling complex financial products such as collateralised debt obligations (CDOs) prior to the financial crisis

Co-authors: Simon Clarke, Damien Byrne-Hill, Harry Edwards, Stephen Flaherty.

Bank unable to recover loss from negligent solicitors – Haugesund Kommune and Anor v Depfa ACS Bank (Wikborg Rein as third party) No 2 [2011] EWCA Civ 33 *

United Kingdom - February 8 2011
BackgroundIn 2004 and 2005, Depfa Bank entered into swap contracts with two Norwegian Municipalities (the "Kommunes") whereby in effect the Kommunes borrowed substantial sums of money from Depfa.

Co-authors: David Reston, Simon Clarke, Stephen Flaherty.