Want to sue a bank? That'll be £10m

• Autores: Tabby Kinder
• Localización: The Lawyer, ISSN-e 0953-7902, Vol. 30, Nº. 38 (11/9/2015), 2015
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Resumen

  • Hausfeld boss says securing funding is one of the biggest hurdles for claimants The cost of bringing a claim against a bank in the London courts has skyrocketed, with claimants exposed to costs of up to £10m, say senior litigators.

    The debate over costs follows a string of high-profile civil litigation and investor claims against banks filed at the High Court in recent months. Banks including Barclays, Lloyds and RBS are gearing up to fight battles in relation to claims of Libor-fixing, interest rate misselling and conspiracy to cause loss.

    Speaking to The Lawyer, Hausfeld London managing partner Anthony Maton says securing funding "is one of the biggest hurdles to litigation against banks, as they are very expensive claims to bring".

    He adds: "The fees built up by banks and their legal teams -- case preparation, disclosure, trial costs are significant. If you include these costs together with claimants' own costs such as experts, counsel and disclosure, the total exposure can easily be in excess of £10m."