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Edward Astle v CBRE: application of the SAAMCo principle to negligent valuations in information memoranda
  • Herbert Smith Freehills LLP
  • United Kingdom
  • December 8 2015

The recent case of Edward Astle & Ors v CBRE Ltd (and related actions) 2015 EWHC 3189 (Ch) considers South Australia Asset Management Corp v York


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
  • Herbert Smith Freehills LLP
  • 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.


Springwell a source of relief for financial institutions
  • Herbert Smith Freehills LLP
  • United Kingdom
  • November 4 2010

The Court of Appeal's decision earlier this week in Springwell v JP Morgan Chase Bank and ors 2010 EWCA Civ 1221 is the latest in a series of English judgments which have seen sophisticated investors struggle to make good damages claims against financial institutions in relation to poorly performing investments.


Haugesund Kommune and Narvik Kommune v Depfa ACS Bank
  • Herbert Smith Freehills LLP
  • United Kingdom
  • July 7 2010

Depfa ACS Bank, an Irish bank, (the "Bank") entered into two "zero coupon swap agreements" (the "Swaps") (so called because the Bank paid no interest on the agreements) with two Norwegian local authorities, Haugesund and Narvik (the "Kommunes").


Titan Steel Wheels Ltd v The Royal Bank of Scotland plc
  • Herbert Smith Freehills LLP
  • United Kingdom
  • April 12 2010

Titan Steel Wheels ("Titan"), a manufacturer of steel wheels for the 'off-highway' vehicle industry and a subsidiary of a large engineering group, brought a mis-selling claim against RBS in respect of two currency swap derivative products sold to it in June and September 2007.


Simon Clarke
  • Herbert Smith Freehills LLP