Seddons has considerable experience acting for and against banks in the UK and overseas in highly complex cases.
Our clients range from foreign and domestic banks to companies and individuals.
Seddons advises Italian Municipalities and Regional Authorities on the terms of loans they have entered into with Merchant Banks
Among the complex issues we have advised on include derivative trading, interest rate swaps, claims under guarantee and secured and unsecured claims which overlap with property fraud.
Examples of our cases include:
- Representing Provincia di Pisa in dispute involving swap agreements
- Representing Regione Lombardia in banking dispute relating to financial instruments
- Representing City of Benevento in banking claim related to invalid swap agreements
- Representing Comune di Prato in relation to derivatives dispute
- Acting for a UK Property Company which had been induced to transfer its lending to the Defendant Bank; required to enter into a complex derivative contract which, on the fall in the property market, led to the Bank seeking to impose penal rates of interest and charges; this resulted in the client refinancing and incurring huge losses on the derivative contract. The client company was too large to bring a claim within the FCA scheme; Proceedings commenced in the Commercial Court for duress, miss-selling of the derivative contract, and of negligence in relation to the revaluation of the properties. Successfully concluded, to the satisfaction of the client, by ADR
- Acting for a Company in the Care Sector which entered into a derivative contract in the belief that it was a simple fixed rate contract. Upon the Company seeking to exit the contract the Defendant Bank sought to charge several hundred thousands of pounds in “breakage costs”. As limitation was close, a Standstill Agreement was negotiated whilst a claim was submitted under the FCA scheme claiming damages based upon the sums that should have been payable if a simple fixed rate or “capped” product had been sold. Successfully concluded, to the satisfaction of the client, by ADR