Topic: Derivatives

Our team focuses on several key financial litigation cases, developments and hot topics to help in-house counsel to stay up to date.

In the latest development in ClientEarth’s attempt to bring a shareholder action on behalf of Shell plc against its directors, the Court of Appeal has refused its application for permission to appeal the earlier decisions of the High Court.

Macquarie Bank Ltd v Phelan Energy Group Ltd [2022] EWHC 2616 (Comm) is the first English High Court judgment which directly considers the requirements for a notice of Failure to Pay under Section 5(a)(i) of the 2002 ISDA Master Agreement to be valid.

Members of our Litigation and Derivatives teams have written an article discussing the impact of the judgment in Grant & Ors v FR Acquisitions Corporation and (Europe) Ltd & JFV Firth Rixson Inc [2022] EWHC 2532 (Ch) which offers important new guidance on when an Event of Default is ‘continuing’ under both the 1992 and 2002 versions of the ISDA Master Agreement.

The latest post in our series covers the recent trends in the duration and resolution of English banking litigation, including an analysis of whether fraud cases are more or less likely to settle

Potential areas for dispute in financial transactions arising in connection with the new sanctions regimes imposed following the Russian invasion of Ukraine.

Our latest analysis of trends in banking litigation shows a continued increase in disputes involving fraud, driven by new capital markets and cross-border structures.

In a case concerning fraudulent misrepresentation relating to LIBOR manipulation, the High Court has granted summary judgment in favour of two banks, finding that the publication of the Final Notice started the limitation period and the claims were consequently time-barred.

The Panel of Recognised International Markets Experts in Finance (P.R.I.M.E. Finance) has announced a public consultation on its draft revised Arbitration Rules (the Rules).