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30 March 2017
Issue: 7740 / Categories: Legal News , Litigation trends
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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
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MOVERS & SHAKERS

NLJ Career Profile: Stephen Ward, The Barrister Group

NLJ Career Profile: Stephen Ward, The Barrister Group

From mowing lawns to life at the Bar: Stephen Ward reflects on an unconventional career

Clarke Willmott—Ben Loosemore

Clarke Willmott—Ben Loosemore

Commercial property partner joins Clarke Willmott in Southampton

Ellisons—Robert Tiffen

Ellisons—Robert Tiffen

Robert Tiffen joins Ellisons as Partner in growing Norwich office

NEWS
The Law Society RFC Festival of Sport returns next month, bringing together legal and financial services professionals for one of the sector’s largest annual sporting events
Legal aid deserts leave almost one in four without adequate access to justice
The Solicitors Regulation Authority (SRA) has warned solicitors and law firms that using artificial intelligence does not alter their professional obligations, amid concerns over inaccurate legal material and client confidentiality
From forgotten interest claims to case-management appeals, a string of procedural developments offers useful—and occasionally cautionary—lessons for practitioners

Jonathan Fisher KC highlights that it now accounts for around 40% of criminal offences, with roughly 70% involving technology, and argues that the UK cannot simply prosecute its way out of the problem. Detection, investigation and prosecution all require improvement, while different fraud types demand tailored responses.

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