Banking and finance dispute resolution quarterly update - Jan 2017

Once again, contractual interpretation has featured significantly in the final quarter of 2016, including the meaning of Default Rate under the ISDA Master Agreements, and the meaning of “close of business”. We also look at our own success in the Court of Appeal, in December 2016, involving a landmark ruling on negligent misrepresentation under section 2(1) of the Misrepresentation Act 1967, and the much anticipated judgement in the Property Alliance Group v RBS case,  involving claims in respect of LIBOR.

There have also been two recent decisions on legal advice privilege – timely reminders for in-house counsel of the limitations of legal advice
privilege, particularly in the context of investigations.

Finally, we provide a brief update on Libyan Sanctions and the Criminal
Finances Bill.