Lawyers attack businessman at heart of £200m Royal Bank of Scotland claim April 17, 2018 In a High Court hearing today lawyers said that a businessman at the centre of a group involved in a £200m claim against the Royal Bank of Scotland (RBS) had been described as a fraudster in two previous court cases. Lawyers acting for former RBS shareholders instructed by Manx Capital Partners said that it was [...]
Who are the City’s best paid lawyers and what are they taking home? June 4, 2018 When private equity partner David Higgins started his new role in the City office of US law firm Kirkland & Ellis in April, he came with the weight of expectation generated by a reported $10m (£7m) salary. Higgins’ salary, which works out at nearly $200,000 per week, is almost unprecedented in the London legal market. [...]
Law firm Knights gunning for largest-ever law firm flotation June 3, 2018 Law firm Knights is set to announce its intention to float on the London Stock Exchange tomorrow in what will be the largest law firm flotation so far. The June initial public offering (IPO) is expected to value the business in excess of £100m, outstripping Gateley, the first English firm to go public in 2015, [...]
Noel Edmonds complains to advertising watchdog about Lloyds Bank adverts February 15, 2018 Television presenter Noel Edmonds has complained to the advertising watchdog about Lloyds Bank’s adverts, opening a new front in his battle with the lender. Edmonds this month launched a £60m legal action against Lloyds, which bought the HBOS bank he alleges was involved in the collapse of his business, Unique Group, before the financial crisis. [...]
Former F1 boss Bernie Ecclestone is facing a fresh trial over alleged bribery March 24, 2018 Formula One's former chief executive Bernie Ecclestone is set to face a fresh trial over bribery and corruption allegations, relating to the 2006 sale of the motor racing business to private equity firm CVC Capital Partners. London's High Court announced yesterday that Ecclestone will face trial on 1 October 2019, reviving a case which Ecclestone [...]
TV presenter Noel Edmonds secures Therium litigation funding for Lloyds HBOS legal battle January 31, 2018 TV presenter Noel Edmonds has secured millions of pounds of litigation funding for a legal battle with Lloyds Banking Group over the actions of HBOS before it was acquired. Therium Capital Management, which specialises in funding expensive legal cases, has agreed a "seven-figure" funding package for Edmonds' claim. The former Top of the Pops and [...]
From vicars to City titans: Goldman Sachs, Shell and Barclays among names behind £550m Lloyds legal battle | City A.M. April 4, 2018 Today City A.M. reveals the varied and surprising names behind a massive £550m legal battle with Lloyds over its takeover of HBOS at the height of the financial crisis – and the cast includes major institutions, aristocrats, vicars and politicians. The groups, which includes institutions such as Goldman Sachs, Nomura Asset Management and pension funds [...]
RBS investors forced to wait longer for pay-out amid legal dispute November 12, 2017 Shareholders who won a landmark legal action against Royal Bank of Scotland (RBS) in the summer face a further wait for their money because of a dispute over costs. Thousands of RBS investors, gathered together by the the RBoS Shareholder Action Group, won £200m in June from the bank, which settled claims that it misled [...]
An investment to hold when volatility strikes? March 7, 2018 Funds in the Targeted Absolute Return sector aim to produce positive returns in a variety of market conditions through using sophisticated investment techniques such as short selling (profiting when prices fall). They generally aim to make modest yet consistent gains with smoother performance than traditional funds; admirable objectives that resonate with many investors, but there [...]
Deutsche Bank posts third annual loss in a row after US tax hit | City A.M. February 2, 2018 Deutsche Bank today posted its third annual loss in a row as a previously announced €1.4bn hit from the US tax reforms and a poor investment banking performance pushed the German lender into the red. Deutsche Bank reported a net loss of €500m (£438m) for 2017 after taking the charge related to the US changes [...]