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Financial Services - Litigation experience

Our experience in financial services litigation is substantial. Our team has advised clients and worked on matters including:

  • Acted for IFE, a US / European mezzanine finance investment house, in a multi-million Euro dispute with Goldman Sachs International relating to alleged misrepresentations in a syndicated loan transaction. The case proceeded to the Court of Appeal and has been widely reported.
  • Acted for Raphael Geys, the former Head of European Distribution for Financial Institutions at Societe Generale. Mr Geys’ claim relates to bonus and other payments due to him on termination of his employment. This matter proceeded to the Supreme Court and Fox Williams was successful on all grounds and secured a complete victory for Mr Geys.
  • Acted for two of the executive directors, Bowley and Thomas, in the Equitable Life litigation, in which 15 former directors were sued for £3 billion for breaches of fiduciary duties and duty of care. We achieved a successful outcome: the case against the directors was withdrawn by the claimant at the end of the 6 month trial, before closing submissions. This was one of the largest High Court cases in the UK in the last few years and has been widely reported.
  • Advised on litigation and regulatory issues connected to the failure of a number of failed deposit taking institutions in Eastern Europe.
  • Advised and representing a high net worth individual who had invested substantial funds into various complex investment products sold to him by a private bank.  These products included complex financial instruments created by AIG which have been identified as not suitable for the client.  
  • Acted for an Italian SPV, set up as part of a complex Italian derivatives transaction, in relation to possible defaults by various parties to the transaction of the financial instruments used to effect the transaction. We issued protective proceedings in order to seize the jurisdiction of the English Court and advised on English litigation strategy and those transactional documents governed by English law.
  • Acted as co-counsel in relation to the issuance of a protective claim for banks in run-off in respect of claims against other banks and securities providers in relation to their investment into a range of securities.
  • Acted for a foreign listed Bulgarian fund in a multi-million pound claim on behalf of its investors against its former management company and the former CEO of the management company for fraudulent misrepresentation relating to the value of invested land.  The claim was one of a number of claims brought (outside of the UK) by the claimant against individuals and companies connected to the defendants. The commencement of the English proceedings quickly encouraged the parties to reach a global settlement in respect of all ongoing litigation.
  • Advised a firm of independent financial advisers on a wide-ranging dispute with one of its former appointed representatives over monies owed after the termination of an Appointed Representative Agreement. Amounts in dispute relate to commissions, the novation of agency contracts and various contractual costs. The case settled successfully for the client part-way through trial.
  • Acted for Brandeaux Advisers (UK) Ltd, an investment advisory company, in proceedings against its former senior compliance officer, Ruth Chadwick, relating to the misappropriation by Chadwick of highly confidential information belonging to Brandeaux which Chadwick argued she was entitled to take for self-protection should she and/or Brandeaux be the subject of a regulatory investigation in the future. The High Court agreed that Brandeaux was entitled summarily to dismiss Chadwick and rejected her arguments. This case has been widely reported.
  • Acted for Vestra Wealth LLP in proceedings brought against it by UBS relating to the defection of over 70 members of UBS’ wealth management division in the UK to Vestra Wealth. This was the largest ever team move case in the UK. The proceedings were settled on terms satisfactory to Vestra Wealth.

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Financial Services specialist James Carlton comments in the FT on the alleged £3m insider dealing casemore

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