28 02 2016

R ex p Holmcroft Properties Limited v KPMG & others

Linklaters advises Barclays on interest rate hedging redress scheme


The High Court has today published its decision in a judicial review application on an interest rate hedging redress scheme (R ex p Holmcroft Properties Limited v KPMG & others).  This is a key judgment that has been watched with keen interest by banks, interest rate hedging counterparties, regulators and professional service firms alike. Linklaters LLP acted for Barclays Bank LLP, second interested party. The High Court dismissed Holmcroft’s application, which sought to challenge KPMG’s actions in approving a redress offer Barclays made to Holmcroft in a redress scheme relating to past sales of interest rate hedging products (“IRHPs”). The Court found that KPMG’s actions “did not have a sufficient public law flavour” so as to be amenable to judicial review and that, in any event, there was no unfairness by Barclays in the procedure adopted. The Linklaters team was led by Dispute Resolution partners, Alison Wilson and Patrick Robinson and associates, James Hennah and Fiona Campbell. Involved fees earner: Alison Wilson - Linklaters; Patrick Robinson - Linklaters; James Hennah - Linklaters; Fiona Campbell - Linklaters;

LATEST ISSUE
Powered by Share Trading

Everlasting
POPULAR ARTICLES
Le Fonti IAIR Awards Take Hong Kong By Storm

21/03/2017

Hong Kong has become a city of bright expansion, culture, and futuristic innovation. Fr

Will Brexit break London's place as FinTech Capital?

17/11/2016

Fintech, it’s described as the disruption in financial services pushed by consume

Le Fonti IAIR Awards 2016 celebrates excellences in London.

17/10/2016

On October 14th, 2016, the world’s leading corporate stars aligned for a momentou

IAIR AWARDS 2016 IN NEW YORK: EMONEY ADVISOR, C.A.S.H., CREDIT SUISSE AND CHEETAH MOBILE AMONG THE WINNERS

15/04/2016

More than 19 Excellences in the global economy at the VI Annual Edition of IAIR AWARDS&

IAIR AWARDS & CEO SUMMIT 2015 IN DUBAI

20/11/2015

It took place on 19 November 2015 at Palace Downtown in Dubai the 19th edition of the I