In November 2011 we reported on a Court of Appeal decision (The Financial Services Authority v Sinaloa Gold and others) in which the Court of Appeal decided that, when applying for an injunction, a public authority, such as the FSA, is not obliged to give a cross-undertaking as to damages to innocent third parties affected by the injunction. 

The case is of importance to banks and other asset holders who, by the nature of their business, find themselves caught up in disputes which require injunctive relief.

Barclays Bank has applied for permission to appeal this decision and on 6 February permission to appeal was granted by the Supreme Court.