Banking Litigation

PCB Litigation is one of the few firms that has strong experience of acting both for and against banks in large-scale litigation. Most prominent firms will not act against banks because of the risk of conflicts of interest, but that is rarely a problem for us.

Examples of the work we have undertaken for banks include:

Freezing of assets of debtors, and other recovery actions, in numerous jurisdictions for hundreds of millions of dollars on behalf of various banks.

Resisting an injunction obtained against a major Cypriot bank seeking to prevent that bank from enforcing a debt of over US$300m.

Succeeding at first instance and in the Court of Appeal for an English bank on the issue of whether it had itself suffered losses it was claiming of US$200m when it had entered into a participation agreement with a foreign bank in respect of the whole of that debt.

Acting for a Middle Eastern investment bank in Jersey in relation to litigation over the future of €1bn of European real estate.

Acting for a major South American bank and successfully having copycat websites removed.

Examples of cases where we have acted against the banks include:

Recovering substantial damages against a major Southeast Asian bank based upon representations made about the credit worthiness of one of its customers.

Successfully defending a £25m mortgage fraud claim by one of the UK’s biggest retail banks

Acting for the principal defendant in respect of alleged US$500m bills of lading fraud perpetrated on about 20 major international banks.

Advising a group of shareholders in respect of claims against one of the UK’s biggest retail banks

Acting in a multi-million pound undue influence claim against a large European bank

Acting for a defendant to a US$120m claim by a Central Asian Bank alleged to have received the proceeds of a fraud on the bank.

Successfully defending a claim made by a building society on the basis that it had failed to comply with money laundering obligations and, had it done so, it would not have allowed the transaction to take place that led to the claims it was seeking to bring

Successfully acting for accountants whom it was alleged were involved in the laundering of monies through an African bank.  A freezing order obtained against them was discharged within 24 hours of it being granted and the claims were dropped.

Acting for a defendant to a multi-million dollar claim by a Spanish bank