Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.
The last week has seen former Rabobank trader Anthony Conti sue his old employer, ArcelorMittal take Essar’s investment manager to court months after acquiring its steel business, and the managing director of AlixPartners sue a prominent Irish businessman and a British property tycoon. Here, Law360 looks at those and other new claims in the U.K.
The lone objector to $300 million in attorneys' fees granted in relation to $2.3 billion in settlements with banks over alleged benchmarking rate rigging in the foreign exchange markets has hit back at an investor class’ bid to require a $1.4 million bond while he appeals the award, telling a New York federal judge Friday that the request is unnecessary and burdensome.
A shipping and commodities trading conglomerate was spared by a U.K. judge on Friday from any penalties for taking too long to respond to IDBI Bank Ltd.’s suit over an outstanding loan that has been at the center of a criminal investigation in India.
Brexit may allow U.K. regulators to pen a “simpler” regime for the country’s smaller banks in order to create a level playing field for competitor firms in Britain’s financial sector, the Prudential Regulation Authority has said.
Legal proceedings brought by a health care property developer against Royal Bank of Scotland PLC over allegedly missold swaps have been stayed to allow the parties to continue talks outside of court.