Financial Services Litigation
Seamless, global litigation solutions for the right results
As global economic forces and new regulations trigger litigation trends, financial services leaders operating around the world must have a plan to manage a diverse range of challenges. Reducing the risk and cost of litigation, especially in times of disruption and change, calls for the right team of advisors. We can help.
The most competitive financial services industry players understand how to manage uncertainty about rising inflation, increasing interest rates and the pace of economic recovery from COVID-19. Regulatory developments, including a focus on consumers, ESG, prudent lending, new benchmarks and many other complications are at the forefront of today’s concerns. Banks and other financial institutions need to reduce and manage legal, regulatory, financial and reputational risks.
Your day-to-day risk management exercise involves investigating, identifying and monitoring contentious and regulatory issues across your global operations. You need to partner with litigation and regulatory counsel who are attuned to risks wherever you do business.
Our Financial Services Litigation team, ranked in Band 1 for banking litigation in Chambers Global, advises and defends many of the world’s leading banks and corporations in their most substantial and sensitive disputes. This includes high-stakes litigation, class actions, and related regulatory proceedings before courts and tribunals around the world. The litigation threat continues to evolve with an increase in fraud claims, sanctions risks and breach, greenwashing and other ESG claims, privacy and data breach claims, class actions, and funded proceedings.
“Recommended for 'heavyweight banking disputes,' DLA Piper's litigation and regulatory team attracts praise for its 'breadth of experience and skills across all seniority levels.'”
Legal 500 UK 2022
Clients benefit from our ability to manage large, multidisciplinary teams across international borders, spanning the lifecycle of a dispute from investigation stage, through contentious regulatory proceedings to litigation or arbitration.
We litigate wherever our clients are based. In the high courts of England, the state and federal courts of the US, the high courts of Europe, Hong Kong, Singapore or in the Dubai International Financial Centre (DIFC) courts and beyond. We arbitrate before all the major arbitral institutions and were a founding sponsor of the P.R.I.M.E. Finance arbitration and mediation tribunal, established in the Hague to resolve disputes relating to complex financial transactions.
Our clients depend on us to watch for and advise on emerging threats, develop effective strategies that respond to the nuances of a particular suit and keep their overall business objectives in mind.
Awards and recognition
- Advising multiple specialist consumer credit providers in the defence of mass claimant Payment Protection Insurance claims with values in excess of GBP10 million brought by customers and former customers.
- Advising a major fintech in the FX space in relation to multiple claims against customers for manipulating money conversion transactions.
- Advising a major credit card provider on obtaining validation orders for credit agreement entered into following introductions by unauthorised credit brokers.
- Acting for a leading UK bank in relation to a complex claim in which serious allegations were made for breach of contractual and tortious duties of care and breach of implied terms in relation to the sale of interest rate derivatives.
- Advising the Australian Securities and Investments Commission (ASIC) in enforcement proceedings against a major Australian institutional bank in the Federal Court of Australia alleging false, misleading and deceptive conduct and other contraventions of the ASIC Act, Corporations Act and Consumer Credit Act.
- Acting for a flagship overseas business of one of the largest banks in China as the Security Agent and majority lender of a defaulted syndicate loan granted to a real estate developer based in Hong Kong, for in excess of HKD6 billion.
- Acting for Clydesdale Bank PLC against repeat claims being pursued by 889 Ltd in connection with the circumstances in which the bank decided to sell 889’s mortgaged property following the default of its loan repayments.
- Advising a leading UK bank against a mass claimant action challenging the bank‘s right to charge break costs on a loan product and the rate of interest at which the product was offered to customers.
- Advising and acting for Haitong International Securities Group Limited in respect of debt recovery actions against Everwin Enterprise (HK) Limited pursuant to a bond-linked note for a sum of over USD200 million.
- Advising a fintech on developing its retail banking platform services offering, including advising on the key regulatory obligations on retail banks to enable them to build those requirements into their platform, and on obligations to notify regulators (FCA and ICO) in the event of data and regulatory breaches.
- Advising a British multinational banking and financial services company in relation to proceedings in Tanzania, New York, the Netherlands and London in relation to the recovery of a USD160 million investment into a Tanzanian power plant.
- Advising major banks in the UK and Netherlands in defense of a EUR60 billion claim before the Nigerian courts.
- In relation to the restructuring and refinancing of a Middle Eastern group and associated multi-jurisdictional litigation arising out of a USD9.28 billion dispute with the Al Gasaibi family, involving proceedings in the Gulf States, England, the US, Switzerland and the Cayman Islands.
- A global investment bank in connection with the workout and restructuring of GBP1.5 billion of mortgage and mezzanine financing secured by a chain of healthcare properties located throughout the UK.