Craig Ulyatt

Reported Banking & Finance Cases

Kingdom Bank Corp v Moorwand Ltd [2023] EWHC 3069 (Comm)

Acting (as sole counsel) for the Defendant electronic money institution in a Part 8 Claim for Norwich Pharmacal relief in relation to payments made to the Defendant pursuant to a contract between the Claimant and a Czech electronic money institution.  The claim was dismissed on the basis that the Claimant should instead have pursued its remedies in the Czech Republic.

Gopee v Southwark Crown Court [2023] EWCA Civ 881

Acting (with Martin Evans KC) for the Interested Party, the Financial Conduct Authority, in relation to the appeal by an infamous illegal money lender, Mr Gopee, against the making of a General Civil Restraint Order.  The Court of Appeal dismissed the appeal and imposed a fresh General Civil Restraint Order for a further 3 year period.  Mr Evans made oral submissions in relation to the substantive appeal and Craig made oral submissions in relation to the fresh GCRO.

Merrill Lynch International v Citta Metropolitana di Milano [2023] EWHC 1015 (Comm)

Acting (as sole counsel) for the Defendant local authority in an application for specific disclosure in aid of a jurisdiction challenge. 

Bank of America Europe DAC v Citta Metropolitana di Milano [2022] EWHC 1544 (Comm)

Acting (as sole counsel) for the Defendant local authority in two related claims in relation to cross-applications to lift the automatic stays imposed under CPR 15.11 and (in one case) a six year extension of time to file an Acknowledgment of Service indicating an intention to contest the jurisdiction.

FCA v Barons Finance Ltd [2022] EWHC 2647 (Ch)

Acting (as sole counsel) for the Claimant regulator opposing an application by an infamous illegal money lender, Mr Gopee, to be joined as a party to a claim brought by the FCA seeking remedial orders against the companies that Mr Gopee used to control.  

FCA v Barons Finance Ltd [2021] EWHC 2363 (Ch)

Acting (as sole counsel) for the FCA against a number of companies that had been engaged in illegal money lending in order to obtain a remedial injunction to remove approximately 625 charges, notices and other restrictions registered against consumer’s properties at HMLR.

Banca Intesa Sanpaolo Spa v Commune di Venezia [2020] EWHC 3150 (Comm)

Acting (with Ray Cox KC) for the Defendant local authority in relation to an application to strike out parts of the Particulars of Claim in an interest rate swaps mis-selling claim.

Best Friends Group v Barclays Bank Plc [2018] EWCA Civ 601

Acting for the Defendant, Barclays, in an interest rate swap mis-selling claim. Craig appeared (as sole advocate) in both the strike out application before Phillips J (as he then was) in which the claim was struck out and the Claimant’s unsuccessful appeal to the Court of Appeal.

Qadir v Barclays Bank Plc [2016] EWHC 1092 (Comm)

Acting for Barclays in an interest rate swap mis-selling claim. Craig appeared (as sole advocate) in the successful strike out application dealing with important limitation and section 14A issues.

Bank of Cyprus v Claremont Court [2013] EWHC 4521 (Ch)

Acting for BOC in a claim relating to a multi-currency loan agreement and repossession of a commercial hotel.

Nine Regions Ltd (t/a Log Book Loans) v The OFT [2010] GCCR 10501

Acting for the OFT in relation to a trial of various preliminary issues relating to Bills of Sale and Consumer Credit.

Notable Banking & Finance Cases

Latchworth Ltd v HSBC Bank UK Plc (2020-2022)

Acting (with Adam Tolley KC) for the Claimant investment company to recover the sum of €11.6 million fraudulently paid away by a trustee in breach of trust. The claim was brought against the Defendant bank (with whom the trust account was held) in dishonest assistance and negligence.

Consumer Redress Association v Financial Conduct Authority (2022)

Acting (with Richard Coleman KC and Nathalie Koh) for the Defendant regulator in a claim seeking judicial review of the FCA’s decision to make the Claims Management (Fee Rules) Instrument 2021, which imposed a fee cap on Claims Management Companies in relation to services provided managing complaints about financial services and products.  The application for permission to apply for judicial review was refused in August 2022.

Elim Foursquare Gospel Alliance v Lloyds Bank (2020-2021)

Acting for a large Church organisation in a claim for mis-selling of interest rate swaps and LIBOR manipulation.

Banca Intesa Sanpaolo Spa v Commune di Venezia (2019 – 2022)

Acting (with Ray Cox KC and Marcus Field) for the Defendant local authority in a €100 million claim concerned with the mis-selling of an interest rate swap to an Italian local authority.

Offshore frozen bank account case (2019-2020)

Acting (with Nicholas Medcroft KC) for a multinational company seeking to unfreeze an offshore frozen bank account containing approximately $200 million.

Smith v Barclays (2019)

Acting for Barclays in relation to an injunction application to unfreeze a bank account and reverse a decision to close an account.

Acumendia v RBS Invoice Finance (2018)

Acting for an online grocery wholesaler start up in a claim against the invoice finance division of RBS, including an application for an interim mandatory injunction to prevent RBS from decreasing the amount of funding provided to the business.

Solar panel claims (2018)

Acting for Barclays in relation to a large portfolio of claims concerned with the alleged mis-selling of photovoltaic solar panels.

Match Serviced Apartments v HSBC (2018)

Acting for HSBC in relation to an injunction application to unfreeze a bank account.

17 Stars v Santander (2018)

Acting for Santander in relation to an injunction application to unfreeze a bank account.

Newton v Financial Conduct Authority (2018)

Acting for the FCA in relation to an appeal by a former director of a debt management company against the making of a prohibition order under section 56 of FSMA.

AFEX v Newstar Garments (2017-2018)

Acting (with Andrew Mitchell KC) for a global payment firm in an FX Swap mis-selling claim.

Mandatory injunction case (2017)

Acting (with Tim Howe KC) for a large retail bank in relation to an interim mandatory injunction requiring the bank to continue providing banking services following the termination of a contract.

Dexia Crediop S.p.A. v Provincia Di Brescia (2016)

Acting (with Charles Samek KC) for Brescia in relation to an interest rate swap mis-selling claim.

WPPL v Financial Conduct Authority (2016)

Acting for the FCA in relation to a payday lender’s appeal against the revocation of its authorisation. The appeal was withdrawn shortly before the final hearing.

Credit Suisse v Up Energy (2015)

Acting (with Jonathan Nash KC) for a Chinese mining company in a dispute relating to the exercise of a put option to repurchase convertible loan notes. The case settled shortly before trial.

NHS Business Services Authority v Various Banks (2015)

Acting for the NHS pensions scheme to obtain Norwich Pharmacal orders identifying the holders of bank accounts into which pension payments had mistakenly been paid.

Delivered on Time v Santander (2014)

Acting for Santander defending a claim brought by a non-customer for negligently failing to detect a fraud perpetrated upon the non-customer by one its employees. Craig appeared (as sole advocate) in the successful summary judgment application.

KfW v Euroclear (2012)

Acting (with Tim Howe KC) for KfW, the German Federal Bank for Reconstruction in a multi-million dollar Commercial Court claim against Euroclear, an International Central Securities Depository, for negligently refusing to accept a US Treasury Bill as collateral from Lehman Brothers immediately prior to Lehman Brother’s insolvency. The case settled shortly before trial.

Barclays Stockbrokers v Rai (2012)

Acting for BSL in a claim arising out of a disputed conversion of nil paid rights into shares.

Bank of Cyprus v Menelaou (2011)

Acting for the BOC in a claim to recover in excess of £11 million under various guarantees. Craig appeared (as sole advocate) in the successful summary judgment application.

Log Book Loans v Office of Fair Trading (2011)

Acting (with Richard Coleman KC) for the OFT in respect of an appeal by Log Book Loans, a sub-prime lender, to the First Tier Tribunal (Consumer Credit) against the OFT’s determination to revoke the lender’s consumer credit licence. The appeal was dismissed two weeks into the four-week final hearing following a successful mid-hearing summary judgment application.

MF Global v Ventouris (2010)

Acting (with Tim Howe KC) for MF Global in relation to a dispute concerning various contracts for differences.