header-logo header-logo

Pioneering times

24 July 2015 / Simon Duncan
Issue: 7662 / Categories: Opinion , Commercial
printer mail-detail
nlj_7662_duncan

Simon Duncan surveys the unusual approaches taken towards swaps mis-selling claims

Some novel approaches have been adopted in the arena of swaps mis-selling claims.

The Holmcroft properties case has been allowed to proceed, having survived the preliminary hearing in April 2015. This is an application for judicial review of the role of the independent assessors in the redress process, part of the Financial Conduct Authority (FCA) redress scheme. Could KPMG (in this case) be considered a public body and therefore be the subject of a judicial review? The bank and KPMG argued that the relationship between them was a matter of contract and that no wider public duty to act fairly arose. The court held that KPMG could potentially be considered a public body for this purpose and the matter will now proceed to a full hearing.

A claim for “Francovich damages” is being considered by another firm. This is a claim against HM Government and the FCA for failing to implement the Markets in Financial Instruments Directive properly. Essentially, the legislation is said

If you are not a subscriber, subscribe now to read this content
If you are already a subscriber sign in
...or Register for two weeks' free access to subscriber content

MOVERS & SHAKERS

Birketts—trainee cohort

Birketts—trainee cohort

Firm welcomes new cohort of 29 trainee solicitors for 2025

Keoghs—four appointments

Keoghs—four appointments

Four partner hires expand legal expertise in Scotland and Northern Ireland

Brabners—Ben Lamb

Brabners—Ben Lamb

Real estate team in Yorkshire welcomes new partner

NEWS
Robert Taylor of 360 Law Services warns in this week's NLJ that adoption of artificial intelligence (AI) risks entrenching disadvantage for SME law firms, unless tools are tailored to their needs
The Court of Protection has ruled in Macpherson v Sunderland City Council that capacity must be presumed unless clearly rebutted. In this week's NLJ, Sam Karim KC and Sophie Hurst of Kings Chambers dissect the judgment and set out practical guidance for advisers faced with issues relating to retrospective capacity and/or assessments without an examination
Delays and dysfunction continue to mount in the county court, as revealed in a scathing Justice Committee report and under discussion this week by NLJ columnist Professor Dominic Regan of City Law School. Bulk claims—especially from private parking firms—are overwhelming the system, with 8,000 cases filed weekly
Charles Pigott of Mills & Reeve charts the turbulent progress of the Employment Rights Bill through the House of Lords, in this week's NLJ
From oligarchs to cosmetic clinics, strategic lawsuits against public participation (SLAPPs) target journalists, activists and ordinary citizens with intimidating legal tactics. Writing in NLJ this week, Sadie Whittam of Lancaster University explores the weaponisation of litigation to silence critics
back-to-top-scroll