Banking and Finance News
The Royal Bank of Scotland (RBS) has turned to Dentons to defend it against a £30m claim from Cooke Young & Keidan (CYK) client property developer Property Alliance Group over Libor-related misselling allegations.
Weil Gotshal & Manges has added 12 new partners to its ranks in its most recent promotions round, up on nine the previous year, adding four partners in London.
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Bird & Bird has been replaced by Fladgate on the £4bn battle between the Royal Bank of Scotland (RBS) and shareholders over a 2008 £12bn rights issue amid disagreements over fees.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.
Banking and Finance Briefings
Constructive knowledge bars claim — Jacobs v Sesame Ltd download subscription
The knowledge referred to under s14(A) of the Limitation Act 1980 (s14(A)) is knowledge of the material facts about the damage and time starts to run from that knowledge.
Advisers successfully exclude liability for giving recommendations download subscription
The High Court has considered the duty owed by the defendants to the claimant when selling an interest rate hedging product, and whether the defendants had breached that duty.
‘Pay if paid’ clause would be wildly at odds with commercial common sense download subscription
This was the finding of the High Court in Avonwick Holdings Ltd v Webinvest Ltd and Shlosberg.
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.