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Dispute Resolution Blog

RBS v Carlyle - Where Now?



RBS v Carlyle - Where Now?Posted on Mar 19, 2015 by Cat Maclean  | Tags: RBS, Carlyle, UK Supreme Court, Inner House, Outer House, Lord Hodge, Lord Glennie, Promise, Collateral Undertaking, Time-Bar,  | 0 Comments  RBS v Carlyle – Where Now?By Cat MacLean, Partner & Head of Dispute ResolutionINTRODUCTIONThis is clearly a great victory for Mr Carlyle after a long and punishing 7 years. However, when the celebrations are over, the key question that remains to be answered is whether the UK Supreme Court’s decision will have wider implications.To date, victories by SMEs and individuals against banks have been few and far...
  1244 Hits
1244 Hits

FCA Review of Swap Misselling – Update

FCA Review of Swap Misselling – UpdatePosted on Sep 25, 2014 by Liina Tulk  | Tags: FCA Review Process, mis-selling, compensation, delay, consequential losses, redress, additional information,  | 0 CommentsBy Liina Tulk, Solicitor, Dispute ResolutionBackgroundIn 2012 the FCA identified failings in the way some banks had sold interest rate hedging products (IRHP). In May 2013 a full review commenced into the sales of IRHP to unsophisticated customers.FCA Review Process until June 2014According to the FCA website, all nine banks have now completed their sales reviews of customers who joined the review before March 2014 and have delivered redress letters to majority of these...
  1374 Hits
1374 Hits

MPs discuss swaps scandal in House of Commons Debate



MPs discuss swaps scandal in House of Commons DebatePosted on Oct 24, 2013 by Liana Park  | Tags: house of commons, swaps, guto bebb, debate, hidden swaps, FCA  | 0 Comments  By Neil Morrison and Liana Park, Financial Services & Banking DisputesThe swaps scandal was debated today in the House of Commons by MPs. The debate which was brought about by the unacceptable delay to the FCA Review Redress Scheme for the mis-selling of interest rate swaps to SMEs.Guto's Call to ArmsGuto Bebb, MP for Aberconwy, gave the main speech at the outset and welcomed the recent development by HSBC  to pay...
  1339 Hits
1339 Hits

FCA Update - progress of the review of interest rate swaps

FCA Update - progress of the review of interest rate swapsPosted on Oct 11, 2013 by Liana Park  | 2 CommentsReview ProgressThe FCA have published charts showing the progress of the review of interest rate swaps.  1. Number of sales at each stage - overall view2. Number of sales at each stage - bank by bankThe charts show that out of a review population of 29,789 there are 438 customers who have been notified of the outcome of their review. Out of those 438 customers 32 customers have accepted offers of redress totalling £2 million.  Our experince of the review so...
  1383 Hits
1383 Hits

FCA Review Process Disclosure: Access Denied!



FCA Review Process Disclosure: Access Denied!Posted on Aug 26, 2013 by  | Tags: breach of covenant, DSAR  | 0 Comments  By Neil Morrison, Associate, Financial Services & Banking DisputesINTRODUCTIONDisclosure of documents in litigation often results in discussion between the parties and ultimately settlement of the dispute. It allows parties to build their cases and analyse their respective positions which promotes early settlement of the dispute. Once disclosure of documents has taken place, both parties can make an informed decision on how they will approach the litigation. Of course, the advantages of compulsory disclosure must be balanced against the rules on privilege and...
  731 Hits
731 Hits

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