The MBM Dispute Resolution team is ranked in Chambers Band 3 for banking litigation, as a “lean team of highly adept litigators with a strong track record in bringing and defending claims against banks”, and is noted to have a particularly strong expertise in relation to allegations of breach of contract, negligent misrepresentation and personal guarantees. We have developed a niche in banking disputes, and a highly successful profile acting for clients who are in dispute with their bank, insurance company, pension provider or IFA. We are one of the few Scottish law firms who are, in practical terms, free from the conflicts of interest which can prevent other law firms from suing UK clearing banks, and our specialist team acts at the cutting edge of this field, bringing and defending claims involving a wide variety of financial issues.
Many law firms simply will not act against any bank or financial institution; often those law firms with the appropriate expertise in this area will only act for the “sell-side” of the market. MBM have a unique skillset. We have built up an experience unrivalled in Scotland, of acting for customers in dispute with their bank; at the same time we have extensive familiarity and understanding of commercial lending, through our long history of acting for a large institutional lender, undertaking all of their repossession work in Scotland, and of undertaking repossession work for a number of other commercial lenders. We find the knowledge gained on both sides of banking disputes provides us with a matchless perspective, helping us to provide truly informed and constructive advice to our clients.
MBM do not and will not act for the big four UK clearing banks, so prospective clients can be sure that we are not subject to any kind of conflict in taking on instructions against any of these 4 UK banks. However, through our work for commercial lenders, we do have a solid knowledge base which we can bring to bear in our banking cases and so help our clients get swiftly to the heart of the issue.
We provide advice on
- loan agreements and facilities,
- development funding,
- litigation funding,
- personal guarantees,
- misselling of interest rate swaps, hedge agreements and other financial products,
- online fraud
- negligent actuarial advice provided to pension funds.
We have experience of litigating in a wide range of courts, including:
- The commercial court of the Court of Session: see for example Royal Bank of Scotland v Carlyle 2010 CSOH 3 https://www.scotcourts.gov.uk/search-judgments/judgment?id=a7b28aa6-8980-69d2-b500-ff0000d74aa7; and David Kipling v Dunbar Bank 2012 CSOH 40 https://www.scotcourts.gov.uk/search-judgments/judgment?id=8bc08aa6-8980-69d2-b500-ff0000d74aa7
- The Scottish Appeal Court, in our successful defence of a personal guarantee claim: RBS v O Donnell and McDonald 2014 CSIH 84 - https://www.scotcourts.gov.uk/search-judgments/judgment?id=7957afa6-8980-69d2-b500-ff0000d74aa7
- The Supreme Court in the groundbreaking win for our property developer client in RBS v Carlyle 2015 UKSC 13 - https://www.supremecourt.uk/decided-cases/docs/UKSC_2013_0227_PressSummary.pdf..
- We have also mediated many banking disputes and have recovered over £7 million for clients who were mis-sold Interest Rate Hedging products through the FCA Review process.
We act for
- property developers
- company directors with Personal Guarantees
- pension funds.
We also work alongside a number of Third Party Funding companies who can assist with commercial funding legal action against banks and other lending institutions. The decision on whether or not to take on a case will be dependent on the estimated costing and, of course, the balance of probability of a successful outcome either in or out of court.
For more information about some of the topics we deal with and the areas we cover click here to view our Banking Disputes blog.
Contact our Financial Dispute Solicitors Edinburgh, Scotland
For help and advice with your financial dispute, contact our dispute resolution team on 0845 345 5004 or fill out our online contact form.