Banking & Financial Services

Banking & Financial Services work, both contentious and advisory, forms a key part of 4 New Square Chambers’ commercial practice.

Members of chambers act in high profile, high value disputes worldwide and their experience covers:

• ESG related claims involving financial institutions
• Mis-selling claims including in respect of complex structured products and collective investment schemes
• Regulatory enforcement action
• Regulatory issues arising in commercial and retail banking, investment schemes, mergers and acquisitions, flotations, group structures, pensions, employee share schemes and PFI
• Mortgage disputes including bridging finance related claims.
• Guarantees
• Claims under the Payment Services Regulations 2009
• Consumer credit claims
• Crypto-currency claims

We regularly handle applications for urgent injunctive relief including freezing orders, evidence preservation and Norwich Pharmacal orders.

We also handle:

• major shareholder claims/securities actions under ss90 and 90A FSMA.
• claims relating to digital assets/cryptoassets.
• negligence claims relating to those involved in the financial/investment sector.

Recent Banking & Financial Services Cases

• Globinvestment Ltd & Ors v XY, VP Bank & Ors [2025] EWHC 740 (Comm): £100m dispute relating to running of an allegedly fraudulent financial investment fund.
• “Mortgage prisoners litigation”: disputes between thousands of customers of a number of major banks relating to alleged overcharging on mortgages.
• 4VVV Ltd & Ors v Spence, Kewley, Crump & Ors [2024] EWHC 2314 (Comm): £50m group action which included groundbreaking claims for breaches of FSMA.
• Spreadex v Robert Tchenguiz: alleged breach of FCA Conduct of Business Rules so as to avoid liability for a debt.
• Slivnik & Ors v UK Government: £multi-million claim relating to alleged conspiracy by FCDO and other Eastern Caribbean banks and regulators relating to Anguillan banking crisis.
• Al Jaber v Al Ibrahim [2023] EWHC 2831 (Comm): £multi-million claim relating to an alleged loan agreement.
• Privatbank v Kolomoisky, Boglyubov & Ors: US$multi-billion claim against Privatbank’s former shareholders and directors.
• Glencore litigation: one of the largest prospectus claims ever brought seeking £billions in compensation.
• G4S litigation: group action arising out of G45 fraudulently inflating the costs of providing services so as to reduce the government’s profit share.
• Thurrock Borough Council v Laven Advisers: £multi-million claim arising from financial collapse of the council and in relation to a financial regulatory hosting platform.

The members at 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.  Chambers was nominated for ‘Financial Services and Insurance Set of the Year’ in the Legal 500 Bar Awards 2024.

Our barristers 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.