Banking & Finance Cases

• Claim by Jersey finance broker for misuse of confidential information and secret commissions against former senior executive, consultant and shareholder.

• Claim by second charge lender against estate of joint borrower spouse, defended on grounds of unevidenced withdrawals, regulated borrowing and undue influence by the surviving spouse.

• Claim against guarantors of insolvent manufacturer of residential apartment modules defended on grounds of previous settlement agreement.

• Claim by underwriter of construction contract bonds against directors of insolvent contractor under personal guarantees.

• Claim by lender under car stocking finance agreement against third party auditor for failure to identify various breaches of the financing agreement by the car dealer.

• Claim against company’s bankers for failure to prevent 179 fraudulent payments over a 19-month period by finance director.

• Claim by IFA against employer for under-calculation of commissions for over 10 years.

• Claim against provider of performance bond defended on basis of the expiry date of the bond having passed following Act of Default (contractor’s administration) but before a valid claim had been made.

• Claim by owner of rugby club and associated businesses for failure by lawyers and financial advisers to adequately advise on corporate and funding structures.

• Claim by corporate finance broker for fees following subsequent sale and purchase of the client company care home business.

• Mis-selling claim in respect of interest rate hedging products.

• Claim by bridging loan finance company against borrower following application of contractual default interest.

• Claim by mutual fund against investment manager for abrupt liquidation of portfolio ahead of transition to another manager.

• Claim by funder for return of funding following failure of project to develop investment market algorithms.

• Claim against supplier and finance lessor for fraudulent misrepresentation in the supply of a succession of replacement photocopiers and related equipment, all on accumulating finance agreements.

• Claim by billionaire fashion retailer against broker for closing out positions for failure to pay margin calls.

• Claim by bank against developers and personal guarantors defended on the grounds of prior discharge and failure by the bank’s special measures unit to treat customer fairly in accordance with implied terms oral terms and regulations.

• Claim by 103 investors against unregulated fund manager for return of £20m in deposits and guaranteed returns on CFDs.

• Dispute between shareholders in specialist foreign exchange business.

• Claims against schools trust for payments due under agreements for the lease financing of various IT assets.

• Claims by liquidators of platform lending companies against personal guarantor, defended on grounds of misrepresentations and fraud by alleged agents of the lenders in over-valuing and marketing of the underlying developments.

• Claim by peer-to-peer lender against personal guarantor, defended on the grounds of misrepresentations as to strength of borrower’s covenant.

• Cryptocurrencies – claim for post-Bitcoin-fork airdropped currencies and for access problems on trading platform during slide in Bitcoin price.

• Claim against five directors under guarantees of invoice financing facility defended on grounds of misrepresentation.

• Claims for fair value and dividends following orally agreed exit from financial trading business in the context of a written SHA with “no-oral-modification” clause.

• Dispute relating to the development of a climate change analytics product for fund and investment managers.

• Claim for possession against personal guarantors of company debt, defended on human rights grounds due to the disability and terminal illness of one of the guarantors.

• Claim by M&A advisers for uplift to success fee on delays to corporate transaction.

• Claim for possession and balance of loan defended on grounds of non-compliance with CCA. 

• Claim for an account of profits in various trading and capital markets businesses related to partnership business.  

• Claim for spread-betting losses following collapse of CHF against the Euro on the Swiss government announcement of the removal of the CHF exchange rate floor. 

• Claim by invoice financing company met with counterclaims for rebates and price support allegedly agreed with supplier. 

• Claim for unpaid assigned invoices defended on the grounds of rebate entitlement and counter-defended on grounds of unsatisfied payment terms alleged to be conditions of the rebate agreement. 

• Claim against personal guarantors of clothing manufacturing business’s obligations under a trade finance and invoice factoring facility, involving issues of misrepresentation and rectification. 

• Security claims over several properties owned by family members defended on Etridge principles. 

• Repossession proceedings defended on the basis of allegedly mis-sold CHF denominated mortgage. 

• Claim for knowing assistance in breach of fiduciary duty against spread-betting company for collusion in secret commissions to introducing brokers. 

• Claim for repayment of private loan/investment agreement informally documented between family members. 

• Claim by finance company against secondary credit broker and car dealer following multiple fraudulent credit applications.

• Claim by bank for repayment of flexible payment interest-only mortgage defended on grounds of estoppel following historical redemption statement omitting the facility in question on refinancing and release of relevant security as part of a portfolio of securities. 

• Claim by invoice financer and counterclaim for issues of water ingress against manufacturer of windows and doors on two new-build schools.

• Dispute between former co-investors regarding the duties of an investor regarding competition in the international payment services market.

• Claim for repayment and cross-claim for rescission in respect of an Islamic financing structure used to refinance a substantial matrimonial home, involving issues of Sharia’a compliance, Etridge principles and misrepresentation.

• Claim against bank for reimbursement of substantial sums following a successful phone scam against a commercial customer.

• Numerous claims for mis-selling of interest-rate and currency hedging products in various industry sectors including public houses, property development, property investment, economic consultancy and garden products, and also in the context of a residential mortgage product.

• Claim against guarantors under an invoice finance facility triggered by admitted fraudulent breaches of warranties and defended partly on the basis of the separation of loss following a sub-participation agreement involving the lender.

• Claims against directors in respect of guarantees of lease finance by bus operator.

• Dispute in respect of private loan agreement.

• Claim by bank under Interest Shortfall Guarantee and Pre-Sales Guarantee against personal guarantors of £12m property development.

• Claim for return of escrow funds following sale of IFA network under corporate sale and purchase documents.

• Claim by investors against financial advisers for £750,000 in relation to the purchase of an investment bond, involving
  issues of risk profiling, commissions, third party adviser liability and quantum.

• Dispute between a UK bank and a US technology company arising out of termination of a contract to provide security technology services to a worldwide card payment system.

• Numerous personal guarantee claims by banks.

• Dispute between banks regarding priority of security following mistake on redemption.

• Claim against bank for conversion of cheques following fraud by employee and authorised signatory.

• Numerous claims by banks against valuers and against solicitors following security shortfalls.

• Claim by bank against solicitors following mistake in effecting redemption. 

• Mediation scheme between bank and insurer in respect of tranches of professional negligence claims against solicitors.

• Claims involving various statutory provisions including the Cheques Acts, the Bills of Exchange Acts and the Consumer Credit Acts 

• Claims relating to asset and lease-financing agreements.

Stuart has experience of litigating and advising on disputes involving banking and financial institutions. Examples include:

• Claim against merchant bank for negligence arising from advice to hostile take-over target and subsequent disciplinary action against directors.

• UK tracing claims arising from proceedings against multiple defendants in Cayman Islands.

• Claims under guarantees against UK listed parent company by 3rd party Spanish finance company and Spanish bank.

• Negotiations with regulators by company managing mortgage loan administration for major banks

• Claims for repossession of fleet quarry trucks under asset finance agreements with operators.

• Advising consumer finance subsidiary on management of multiple claims under the Consumer Credit Acts 

• Various disputes relating to asset and lease-financing arrangements.

• Advising Dutch company on validity and enforceability of claims against Dutch guarantor under Korean loan notes and English law guarantee.

• Claim by university for funding against guarantor.

• Claims under guarantees by former Spanish subsidiary against UK listed parent company

• Dispute between university and investment bank under tax indemnity in development finance agreement.

• Claim against former employer under informal guarantee agreement following dismissal of claimant.

• Guarantee claims against car retail group under finance agreement. 

• Claim by German company under UK guaranteed futures.

• Claim by construction company against personal guarantor.

• Claim by bank against third party invoice finance company.

• Advising on potential claims arising out of sale of HP loan book.

• Various disputes involving cheque exchange company relating to terms and breaches of contract.

• Claim against insurance company under guaranteed annuity option.

• Guaranteed claims against Jersey trustee company by beneficiaries.

• Advising on potential claims against sub-prime lender on sale of European loan book.

• Claims against individual defendants by US companies under guarantees.

• Claims by bank against individual borrowers.

• Advising investment bank in various potential claims 

• Advising on potential claims by investment company arising out of renegotiation of banking facilities.

• Claim for fees by solicitors’ firm against personal guarantors.

• Dispute between UK listed company and mortgage trust company.

• Advising corporate bankers in giving evidence to Serious Fraud Office regarding investigation into collapsed international publishing group.

• Claims by Spanish bank against various creditors under personal guarantees.

• Dispute between UK bank and counter-party in joint venture property development in Portugal over terms of agreement.

• Advising on restitutionary claims by local authorities under interest rate swap agreements.

• Application by creditor against Spanish bank to set aside statutory demand.

• Internal investigation by bank into lending to collapsed international publishing company.

• Application by bank for forfeiture of security over shares in house-building company.

 • Advising merchant bank in providing evidence to regulator for alleged breaches.

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