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.
Loan consultancy EMFC Loan Syndications LLP has sued a U.K.-based luxury real estate developer at a London court for fees it claims it is owed for work it carried out to arrange a $57 million loan facility.
Five U.S. agencies have set out measures to allow banks to transfer so-called legacy swaps from the U.K. to a subsidiary based in Europe or America without triggering tougher margin requirements if Britain crashes out of the bloc without a deal.
Genworth Financial Inc., which is being sued for nearly £265 million ($351 million) by rival French insurer AXA SA over a missold insurance product, can seek to shift the blame onto two British units of Santander, London’s High Court has said.
The Serious Fraud Office has seized more than £1.5 million ($2 million) in illicit funds from a property tycoon wanted in connection with Britain’s biggest ever mortgage con.
Fidelity National Information Services, led by Willkie Farr & Gallagher LLP, on Monday inked a $43 billion deal, including debt, for Worldpay, guided by Skadden Arps Slate Meagher & Flom LLP, marking the latest payments services tie-up as the space consolidates.