Three out of the five counsel instructed in the trial which saw the first ever judgment handed down in the new Financial List are members of Fountain Court.
Bankim Thanki QC and Rupert Allen represented the Defendant, Barclays Bank PLC (instructed by Richard Bunce of Simmons & Simmons) and Guy Philipps QC represented the Third Party, HCC International Insurance Company PLC (instructed by Richard Gwynne of Stephenson Harwood).
The Financial List was introduced by Lord Thomas of Cwmgiedd, the Lord Chief Justice, in October 2015 to deal with cases which would benefit from being heard by judges with particular expertise in the financial markets or which raised issues of general importance to the financial markets.
The dispute concerned secondary trading using standard form documentation published by the Loan Market Association. The article from Legal Business summarising the dispute can be accessed here and the text of the judgment of Knowles J here.
