We are one of the few genuinely conflict-free firms who are willing and able to litigate against the banks and financial institutions that full-service City and US firms count as key clients.
We act for clients in relation to complex disputes involving banks and financial institutions, including those under the ISDA Master Agreement, whether as claimant or defendant. Our clients include hedge funds, corporates and high net worth individuals.
We also have extensive experience of heavy weight group litigation acting against major financial institutions and advise clients on a wide range of disputes relating to structured investments and derivative products, including those with a multi-jurisdictional element.
We have particular expertise advising in relation to allegations of mis-selling, misconduct, misrepresentation, deceit, fraud, breach of duty, contractual interpretation and breach of transactional documentation, as well as contentious restructurings.
We are also experienced in advising in relation to a range of contentious regulatory investigations, including those undertaken by the relevant authorities in the UK, US and elsewhere.
The practice is ranked in Legal 500 which notes that “the banking litigation team at Wallace is getting stronger by the year” and consists of “exceptional thinkers who are detailed, thoughtful, and pragmatic with a focus on their clients”. The directory highlights that “the team regularly acts on complex, multi-jurisdictional banking and financial service disputes, and has impressive group litigation capabilities.” They have “real depth and breadth in experience which enables them to take on the big financial institutions” and are “ambitious and flexible in creating and pursuing potential cases against banks and financial institutions’’. The directory also describes the firm’s banking and financial services litigation team as being ‘‘very impressive, especially during high-pressured and complex legal disputes’’ and notes that the team is ”very responsive”, “commercial”, “reliable” and “excellent at keeping across multiple workstreams.”
Contact
Alexander Weinberg
+44 (0)20 7467 8767
alexander.weinberg@wallace.co.uk
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Notable case references
Acting for a substantial group of retail investors in the LF Woodford Equity Income Fund in claims against Hargreaves Lansdown and Link Fund Solutions valued up to £1 billion following the Fund’s high-profile suspension in June 2019 and subsequent announcement that it will be wound down.
Acting for a prominent claimant group, including a number of well-known high street names, in claims against MasterCard and Visa valued in excess of £100 million in relation to the unlawful fixing of multi-lateral interchange fees.
Acting for a proprietary trading firm based in the UAE in relation to claims that it conspired with the outgoing sellers of a multi-national brokerage to artificially inflate revenue so as to trigger a final earn-out payment in excess of US $40 million.
Successfully representing, at first instance and on appeal, a prominent Swiss-based aircraft leasing company in relation to a multi-million dollar claim against a Bahraini bank.
Successfully acting for an independent equities and derivatives trader based in Dubai in his defence of US proceedings concerning allegations of insider trading relating to the purchase and sale of Fortress Investment Group LLC securities.
Acting for a Russian high net worth individual in a c. US $10 million claim against a leading financial services company concerning the alleged non-payment of introductory fees in respect of two bond issuance projects valued at approximately US $1 billion.