Banking and Financial Services litigation
A diverse set of Banking and Financial Services lawyers who advise on transactions, banking litigation and recovery situations, financial services regulatory matters and insolvency.
We have strong experience in both UK based and cross-border matters.
Through our Interleges network we have a strong and reliable connection to legal advisors across the world with whom we work in cross-border deals and litigation issue.
We provide practical and cost effective advice on a range of Banking and Finance services to help our clients navigate difficult situations. We take the time to understand the markets and be culturally aligned with our clients and have an excellent track record settling their disputes. With litigation reaching offshore havens, India, USA, UK, Hong Kong, European countries and Mauritius, we are the team who has the depth of skills to deliver effective results.
Whether by negotiation or hard fought and contested litigation we aim to secure the best outcome for the client. Our experience enables us to look at disputes from both sides of the coin. Many of our cases have been reported including in respect of contractual issues, high profile judgments, and technical issues, for example service compliant with service conventions.
We offer competitive pricing arrangements, including through our Panel Fee rates, Conditional Fee Agreements (where appropriate), or via our Third Party Funding and After the Event Insurance providers.
Examples of recent successes
Litigation on behalf of an Indian Bank against JARC Shipping and Boris Shipping and six Indian individual Guarantors in respect of facilities given to the Borrower companies for aggregate sums in excess of USD $20 million. Successfully obtained Judgment in excess of USD $25 million with cross border litigation and enforcement actions in the UK and India.
An action on behalf of an Indian Bank against MBL Highway Development Company Limited, to whom the Bank had made available a Facility of USD $13million for a highway in India. Actions underway in the UK with cross border aspects in India in which the Indian government was involved. The case was considered in June 2020, with the Bank successfully concluding a Summary Judgment Application and obtaining Judgment in excess of USD $17 million. The Judgment is precedent on various issues.
An action against Binny Ship Management in Mumbai and three individual Guarantors in the USA in respect of a Facility given to the Borrower in the sum of circa USD $11 million with action being brought in India, the UK and America. Judgment was obtained in early 2020 with cross border enforcement underway.
A claim against three high profile brothers associated with the Alok Group of companies in respect of Facilities given by the UK Branch of an Indian Bank for sums of circa £15 million. Action was brought in the UK, again with cross border aspects to it. Judgment was obtained in late 2019. The enforcement action is currently underway against the individuals in Mumbai. The decision was published on the front page of the Mumbai Mirror and other legal and non-legal press.
Acting for a Bank against Firestar International in India, Firestar Diamond in Dubai, Firestar Holdings in Hong Kong and Nirav Modi in respect of Facilities for a global diamond trading business. This required claims in the UK, Dubai, India and Hong Kong with service being effected on the Personal Guarantor whilst in prison in the UK. We have had to team up with Indian, Hong Kong and Dubai lawyers in order to deal with the actions in the various jurisdictions.
Claims against companies in the Essar Group of companies (to including Essar Shipping and Essar Oil Limited) in respect of Facilities varying from USD $9 million to USD $75 million, with exposures extending to Mauritius, UK, India and with security over various companies, Standby Letters of Credit and ships sailing off the coast of India.
Advising a Bank in respect of the Administration of a borrower company and a Guarantee action which was followed by enforcement action including a property portfolio of around 30 properties. Receivers were appointed and litigation took place to deal with beneficial interests of the owners of the property. We secured a substantial recovery for the bank in hard fought litigation in which a fraud and sham documents had to be proven.
Working in partnership with various Insolvency Practitioners in respect of exit strategies for Banks where Borrower companies fall into Insolvency processes (including Administrations, Liquidations and Company Voluntary Arrangements) in order to ensure that the Banks’ positions are protected and the recovery is maximised with a cost efficient outcome.