header-logo header-logo

30 March 2017
Issue: 7740 / Categories: Legal News , Litigation trends
printer mail-detail

Banks face rising litigation

High Court claims against banks soared in the past year by 37%, showing the trend for increased litigation against banks shows no sign of abating.

In the past 12 months, the world’s 50 largest banks were forced to defend 157 cases, compared to 115 cases in 2015/16, and just 51 cases in 2011/12. City law firm RPC, which collected the figure says the long-term fallout from the 2008 financial crash has driven the rise, with many cases such as the mis-selling of hedging products and related disputes only reaching the high court in the last year or so. According to the firm, greater availability of third party litigation funding, media attention on high-profile cases, and the fact claimants typically have six years to launch a claim may all have contributed to the rise.

UK banks-most notably Barclays, HSBC, Lloyds and Royal Bank of Scotland- accounted for two-thirds of the total 784 High Court cases involving the largest 50 banks in the past five years.

Issue: 7740 / Categories: Legal News , Litigation trends
printer mail-details

MOVERS & SHAKERS

London Solicitors Litigation Association—John McElroy

London Solicitors Litigation Association—John McElroy

Fieldfisher partner appointed president as LSLA marks milestone year

Kingsley Napley—Kirsty Churm & Olivia Stiles

Kingsley Napley—Kirsty Churm & Olivia Stiles

Firm promotes two lawyers to partnership across employment and family

Foot Anstey—five promotions

Foot Anstey—five promotions

Firm promotes five lawyers to partnership across key growth areas

NEWS
Freezing orders in divorce proceedings can unexpectedly ensnare third parties and disrupt businesses. In NLJ this week, Lucy James of Trowers & Hamlins explains how these orders—dubbed a ‘nuclear weapon’—preserve assets but can extend far beyond spouses to companies and business partners 
A Court of Appeal ruling has clarified that ‘rent’ must be monetary—excluding tenants paid in labour from statutory protection. In this week's NLJ, James Naylor explains Garraway v Phillips, where a tenant worked two days a week instead of paying rent
Thousands more magistrates are to be recruited, under a major shake-up to speed up and expand the hiring process
Three men wrongly imprisoned for a combined 77 years have been released—yet received ‘not a penny’ in compensation, exposing deep flaws in the justice system. Writing in NLJ this week, Dr Jon Robins reports on Justin Plummer, Oliver Campbell and Peter Sullivan, whose convictions collapsed amid discredited forensics, ‘oppressive’ police interviews and unreliable ‘cell confessions’
A quiet month for employment cases still delivers key legal clarifications. In his latest Employment Law Brief for NLJ, Ian Smith reports that whistleblowing protection remains intact even where disclosures are partly self-serving, provided the worker reasonably believes they serve the ‘public interest’ 
back-to-top-scroll