Banking & Financial Services Litigation

Bullet point icon Lexcel Legal Practice Quality Mark (The Law Society Accredited)

Bullet point icon Clear understanding of complex domestic and international litigation cases

Bullet point icon Founding member of Interleges - a network of international law firms

Bullet point icon Accredited mediators who aim to resolve disputes quickly

We are a diverse set of lawyers with a broad range of experience and knowledge in the Banking and Financial Services Sector.

Royds Withy King’s team of Banking & Financial Services lawyers advise on not only transactions but also Banking Litigation and recovery situations, Financial Services Regulatory matters and Insolvency.

We have strong experience in both UK based and cross border matters relating to parties and assets all across the world, with litigation reaching offshore havens, India, USA, UK, Hong Kong, European countries and Mauritius to name but a few. We also have a strong network of legal advisors across the world with whom we work in cross border deals and litigation issues through our Interleges Network and our personal contacts.

Pragmatic and cost effective advice

Through our experience and bank panel led instructions, we provide practical and cost effective advice on a range of Banking and Finance specific services to help our clients navigate difficult situations and to extract value out of deals and distressed situations.

We have a good track record in advising our Financial Services clients in respect of their disputes, as we take the time and effort to not only understand the markets in which the Banks operate, but also to be culturally aligned with and to form strategic partnerships.

Many of our cases have been reported including in respect of contractual issues but also Hague Convention service issues.

Competitive pricing arrangements

Our aim is to always secure the best outcome for the client, whether it be by negotiation or hard fought and contested litigation. Our experience enables us to look at disputes from both sides of the coin and to advise effectively in respect of strategies and opportunities that will be perceived by both sides of a dispute.

We are competitive pricing arrangements, including through our Panel Fee rates, Conditional Fee Agreements (where appropriate), or via our in-house Third Party Funding and After the Event Insurance Facility.

Examples of recent successes

  • Litigation on behalf of an Indian Bank against JARC Shipping and Boris Shipping and six Indian individual Guarantors in respect of facilities given to the Borrower companies for aggregate sums in excess of USD $20 million to support a ship yard wrecking business. Successfully obtaining Judgment in excess of USD $25 million with cross border litigation and enforcement actions in the UK and India.
  • An action on behalf of an Indian Bank against MBL Highway Development Company Limited, which was a company to whom the Bank made available a Facility of USD $13million for a highway in India. Actions were underway in the UK with cross border aspects in India in which the Indian government was involved. The case was considered in June 2020, with the Bank successfully concluding a Summary Judgment Application and obtaining Judgment in excess of USD $17 million and in respect of which the Judgment is precedent on various issues.
  • An action against Binny Ship Management in Mumbai and three individual Guarantors in the USA in respect of a Facility given to the Borrower in the sum of circa USD $11 million with action being brought in India, the UK and America. Judgment was obtained in early 2020 with cross border enforcement underway.
  • A claim against three high profile brothers associated with the Alok Group of companies in respect of Facilities given by the UK Branch of an Indian Bank for sums of circa £15 million. Action was brought in the UK, again with cross border aspects to it. Judgment was obtained in late 2019. The enforcement action is currently underway against the individuals in Mumbai. The decision was published on the front page of the Mumbai Mirror and other legal and non-legal press.
  • Acting for a Bank against Firestar International in India, Firestar Diamond in Dubai, Firestar Holdings in Hong Kong and Nirav Modi in respect of Facilities for a global diamond trading business. This required claims in the UK, Dubai, India and Hong Kong with service being effected on the Personal Guarantor whilst in prison in the UK. We have had to team up with Indian, Hong Kong and Dubai lawyers in order to deal with the actions in the various jurisdictions.
  • Claims against the companies in the Essar Group of companies (to including Essar Shipping and Essar Oil Limited) in respect of Facilities varying from USD $9 million to USD $75 million, with exposures extending to Mauritius, UK, India and with security over various companies, Standby Letters of Credit and ships sailing off the coast of India.
  • Advising a Bank in respect of the Administration of a borrower company and a Guarantee action which was followed by enforcement action including a property portfolio of around 30 properties, where Receivers were appointed and litigation took place to deal with beneficial interests of the owners of the property. We secured a substantial recovery for the bank in hard fought litigation in which a fraud and sham documents had to be proven.
  • Working in partnership with various Insolvency Practitioners in respect of exit strategies for Banks where Borrower companies fall into Insolvency processes (including Administrations, Liquidations and Company Voluntary Arrangements) in order to ensure that the Banks’ positions are protected and the recovery is maximised with a cost efficient outcome. Such actions include

– advising in respect of a GBP £70 million turnover chemical distributorship in the UK with various subsidiaries and assets spread across Europe

– advising in respect of property development companies which have either run into financial difficulties, or which have been suspected of fraud and

– successfully acting for Banks (in bilateral and syndicated deals) in negligence actions against solicitors, valuers, surveyors and other advisers, where they have been advised
negligently, with parallel insolvency proceedings afoot.

– Acting as retained legal advisors for injunctions and urgent Applications by financial institutions.

Contact us now to find out how our banking & financial services Litigation options can help you