Banking & Financial Services

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Members of 4 New Square advise and act in litigation concerning all aspects of financial services law. We advise upon regulatory enforcement action and discrete aspects of the regulatory regime as well as its impact in various contexts, including commercial and retail banking, collective and other complex investment schemes, mergers and acquisitions, flotations, group structures, pensions, employee share schemes and PFI.

We have considerable experience of complex banking matters, from mortgage disputes to guarantees to claims under the Payment Services Regulations 2009.

In line with Chambers’ expertise in professional liability and discipline, members of chambers are frequently instructed in claims and enforcement proceedings against financial professionals, including investment, mortgage, pension and tax advisers.

Some members of chambers are also experienced in the law of consumer finance and credit, including leading counsel recognised by the directories as consumer credit specialists.

Several individuals are recommended in the major directories in this area.

Recent cases involving members of chambers include:

Denning v Greenhalgh Financial Services Limited [2017] EWHC 143 (QB) which considered in detail the principles governing the circumstances in which a professional is obliged to advise outside the scope of his/her retainer, and how those principles apply in the context of financial professionals.
Abi Fol Consulting Ltd v The Financial Conduct Authority [2016] UKUT 49 (TCC) acting for the FCA in an appeal to the Upper Tribunal by applicant which had been refused permission under Part 4A of the Financial Services and Markets Act 2000 to carry on a range of regulated activities.
AIB Group (UK) plc v Mark Redler & Co [2014] UKSC 58 confirming the nature and extent of equitable compensation in breach of trust and fiduciary duty claims.
Scott v Southern Pacific Mortgages Limited (Re: North East Property Buyers) [2014] UKSC 52 concerning principles of secured lending, conveyancing and, more specifically, the legal interests of occupiers and lenders in sale-and-rent-back schemes.

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2 June 2020

Performance Bonds and the Qatar Financial Centre: Judgment in the QFC Civil and Commercial Court. Paul Fisher acted for the successful joint venture claimants in the court’s first remote hearing

Performance Bonds and the Qatar Financial Centre: Judgment in the QFC Civil and Commercial Court. Paul Fisher acted for the successful joint venture claimants in the court’s first remote hearing.

Click here to read the judgment.

7 February 2020

Wife’s guarantee to bank unenforceable due to husband’s undue influence (Syndicate Bank v Dansingani)

Rare successful undue influence defence. Ben Archer is interviewed by LexisPSL in relation to this decision of the Chancery Division handed down at the end of 2019, in which Matthew Bradley successfully defended a claim by an Indian bank after a 13 day trial. The claim against Matthew’s client was based on a personal guarantee and a mortgage entered into 13 years apart. Matthew successfully resisted the claim against his client on the basis of undue influence, obtaining rescission of both the personal guarantee and the mortgage, leaving his client’s share of her assets protected against the Bank’s claim. Read Ben’s article here.

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23 March 2020

Guarantees unenforceable as deeds due to improper execution may take effect as simple contracts (Signature Living Hotel Ltd v Sulyok)

Banking & Finance analysis: Guarantees executed, but unenforceable, as deeds may take effect as simple contracts where supported by sufficient consideration. Written by Ben Archer, barrister, at 4 New Square Chambers. Click here to read the article on LexisNexis.

7 February 2020

Wife’s guarantee to bank unenforceable due to husband’s undue influence (Syndicate Bank v Dansingani)

Banking & Finance analysis: Ben Archer, barrister, at 4 New Square, examines a High Court decision that a guarantee given by the first defendant company director to secure the company's liabilities to the claimant bank was enforceable but a similar guarantee given by the second defendant company director, who was the first defendant's wife, was not enforceable as her execution of it had resulted from his undue influence.