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Paul McNamee

Legal Director

Paul McNamee advises in respect of a broad range of complex and high value disputes in the financial services sector. He primarily represents large financial institutions including banks, building societies and other lenders.

He has significant experience of advising in relation to claims involving the alleged mis-sale of hedging products and fixed rate loans, with a particular focus on claims involving allegations of fraud.

Paul is very experienced in the field of professional negligence claims. He advises on claims against solicitors, valuers and monitoring surveyors in respect of commercial and high-end residential properties, as well as in relation to luxury assets such as private jets. He also advises extensively in relation to claims involving the manipulation of LIBOR, high value asset recovery and other contractual/commercial disputes.

Professional QualificationsSolicitor of the Senior Courts of England and Wales


  • Advising a UK bank in the defence of proceedings brought by a large group of claimants relating to serious allegations of fraudulent misrepresentation arising out of the interest rates offered by the bank to Tailored Business Loan customers and liability for break costs upon early termination.
  • Acting for a UK bank in a successful application for summary judgment/strike out on the basis of the Claimant’s failure to (1) plead fraud adequately in respect of its mis-selling claim; and (2) to overcome the bank’s limitation defence to LIBOR manipulation allegations. This was the first case to be decided on the issue of limitation in LIBOR-rigging claims.
  • Acting for a lender in the defence of a multi-million GBP claim relating to the bank’s contractual entitlement to charge break costs to its customers, and the appropriate basis for the calculation of such costs. The dispute involved a detailed consideration of the bank’s hedging practices.
  • Acting for a UK bank on its portfolio of claims alleging the mis-sale of Interest Rate Hedging Products to SMEs, with multiple multi-million GBP claims typically alleging that the bank was negligent in its role as advisor to the borrower and/or misrepresented the benefits of the IRHP, and/or breached various of the FCA’s Conduct of Business Rules.
  • Advising a UK bank in respect of a USD18 million professional negligence claim against a leading international law firm relating to the financing of a private aircraft.
  • Acting for an Irish bank in relation to a complex, high value claim (losses exceeding GBP10 million) brought against a leading firm of surveyors relating to the negligent valuation of a hotel, student accommodation and two office developments in locations across the UK.
  • Advising a UK bank in respect of a multi-million GBP fraud claim against solicitors based on dishonestly false statements having been made which induced the bank to enter into a loan facility.
  • Advising a lender specialising in commercial development finance in respect of a portfolio of over 30 professional negligence claims with losses exceeding GBP50 million.
  • Acting for a leading UK mortgage company in respect of a series of large scale mortgage frauds involving high value claims against both solicitors and valuers.
  • Advising a UK bank in a claim against solicitors for breach of undertaking, breach of fiduciary duty and breach of trust following its failure to properly identify its client resulting in a high value mortgage fraud being committed on the bank.
  • The College of Law, York, Legal Practice Course
  • Newcastle University, Law LLB (Hons)