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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.

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").

Stephen Flaherty
  • Herbert Smith Freehills LLP