Banking and Finance News
Clifford Chance partner Jared Grubb is advising a group of bondholders seeking $2m from Ukrainian bank VAB Bank after it failed to pay out a coupon due to new Ukrainian foreign currency restrictions.
Spanish firm Pérez-Llorca has secured the instruction to advise the Spanish airport operator Aena (Aeropuertos Españoles y Navegación Aérea) on its upcoming flotation for a fee of just €1.
JP Morgan Chase has launched its latest panel review, having warned firms they will have to cut rates by at least 2 per cent to qualify.
Clifford Chance is advising the Royal Bank of Scotland (RBS) as it prepares for another round of fines from the Financial Conduct Authority (FCA), this time in relation to a 2012 IT meltdown.
Bird & Bird has been replaced by Fladgate on the £4bn battle between the Royal Bank of Scotland (RBS) and shareholders over a 2008 £12bn rights issue amid disagreements over fees.
Clifford Chance, Freshfields Bruckhaus Deringer, Herbert Smith Freehills (HSF) and Linklaters are among the firms advising the banks hit with £2.6bn in fines from the Financial Conduct Authority (FCA) and US regulators for a mass attempt to rig the foreign exchange (forex) market.
Linklaters, Clifford Chance, Freshfields and Ashurst have all won roles for the UK’s big four retail banks currently at the centre of a major Competition and Markets Authority (CMA) probe launched last week.
Metro Bank general counsel Sally-Ann James has kicked off a review of the bank’s biennial lending and securities panel, which is set to finalise next month.
Pinsent Masons has kicked off its managing partner election process by putting three partners up for the role.
Banking and Finance Briefings
InVest — November 2014: FSB publishes final report on foreign exchange benchmarks; and more download subscription
Addleshaw Goddard has published this month’s round-up of developments affecting banks, wealth managers, brokers and funds.
Double agent: responsibility for payment of a bribe and conflict of interest download subscription
Dentons considers one of the key aspects of the judge’s findings as between UBS and KWL.
Focus: loans to enterprises by insurance companies — amendments to Regulation 36/2011 approved by IVASS download subscription
Law Decree no. 91 of 2014 has added a new provision to paragraph 2 of article 114 of Legislative Decree no. 385 of 1 September 1993.
Banking and Finance Analysis
IPOs are booming again, sending law firms jostling for mandates, but this time there’s a new role for banks that are independently advising the issuers. Step forward Lazard and Rothschild
Panel reviews 2014: The chosen ones download
Which firms are cutting it in this era of slimline rosters, and who are the GC new brooms making clean sweeps? The Lawyer can reveal all
Banking and Finance Opinion
The revelation by Tesco that it had overstated its trading profits by £250m wiped £2bn off its market value in one day.
Have the magic circle firms squandered their lead in acquisition finance?
For some reason the politics of King & Wood Mallesons SJ Berwin’s corporate department attracts extraordinary attention online from our readers.