Financial services disputes
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Our clients include financial services businesses and users of financial services based in the UK, the rest of Europe, numerous offshore financial centres and emerging markets.
We work closely with financial institutions, their counterparties and customers, investment funds and insurers in helping them resolve a wide range of disputes arising from financial products, investment schemes and other sector challenges. Our team’s extensive experience in commercial dispute resolution in the financial services industry includes constructive trust and asset tracing actions, syndicated loan disputes and actions relating to exchange listed debt instruments, securities and commodities.
We also assist our clients on FCA regulatory enforcement matters including issues arising from the promotion of financial products, investment schemes, market abuse and FCA approved person status. We have significant experience in dealing with data breaches as well as process and technology issues which can affect customers and customer outcomes.
In guiding our financial services clients on contentious matters, we often draw on the expertise of Bristows' teams in areas such as corporate, tax, data protection, outsourcing and procurement, and IP. This enables us to offer a service that combines our financial services sector and regulatory expertise with deal-specific experience.
Our experience includes acting for: A global bank on an application for worldwide asset freezing order across several jurisdictions relating to misappropriated assets and the enforcement of loan note guarantees. A German government agency in relation to interest swap contracts with a merchant bank counterparty in an infrastructure construction funding arrangement. A German bank in High Court proceedings on a contract dispute concerning commercial asset financing of around €200 million. A financial instruments trading and brokerage company in a claim relating to the failure to deliver up and sell on a US$ 50 million Eurobond Medium Term Note issued by a major bank listed on the Luxembourg Stock exchange. A Swiss bank in tracing and banking constructive trust claim relating to billions of US Dollars siphoned out of an African country’s government treasury. An activist hedge fund in a derivative claim against directors of a listed company. A global investment bank which was in breach of its obligations to provide outsourced services to another regulated entity. An insurance intermediary in respect of various regulatory claims arising out of a data loss incident. A retail bank in respect of serious failures by an outsourced IT provider, including data loss and the loss of functions to manage customer relationships and correspondence. A financial institution which had guaranteed the performance of certain obligations using a letter of credit, but the customer disputed payment.