RPC
What is the impact of the Supreme Court’s decision in Philipp v Barclays on the development of ” The Quincecare” duty?
13 Sep 2023
Location: 11:30am - 12:30pm UK Time Virtual Event (Zoom) Members: FREE to attend - Book by 13 Sep Non Members: Register above as a member and attend for FREE - Book by 13 Sep
Highlights
The Quincecare duty was first recognised over three decades ago, but it is only in recent years that it has really come to prominence, with the Court having to consider its application and scope. Unsurprisingly, given the dramatic rise in APP fraud (with over £1billion worth of losses over the past three years), claimants have sought to apply the duty in that context.
Join us to debate the Supreme Court's decision. Our panel will explore
- the judgment's findings and implications through the lens of the banks (and other payment services providers) and account holders, both individual and corporate, as well as others affected; and
- how the decision fits within the statutory and regulatory regime, including the reimbursement requirements announced by the PSR in June 2023.
The judgment has been handed out on the 12th July.
Partner
RPC
Jonathan Cary is a partner at RPC, specialising in banking & financial markets disputes and contentious regulatory work. He has practised in Hong Kong, where he is locally qualified, and has undertaken secondments to the legal and compliance teams of two investment banks. He commonly advises clients in disputes in relation to complex financial products, often in matters adverse to the largest global financial institutions. He is currently representing the Federal Government of Nigeria in its claim against JP Morgan for breach of the Quincecare duty.
RPC
Partner
Clifford Chance
Kate Scott specialises in financial services and technology litigation, with particular expertise in follow-on litigation from regulatory investigations and cross-border matters.
Kate's focus is advising clients (particularly Financial Services and Fintech clients) on managing their portfolio of contentious matters. She is recognised in Legal 500 as both a Next Generation Litigation Partner, and for her Fintech and Data, Privacy and Cybersecurity work. Her practice and experience spans litigation (typically defending complex claims), alongside risk management and governance advice, to help her clients prevent disputes arising in the first place.
Kate's banking disputes experience encompasses a wide variety of investment banking products: credit linked notes, credit default swaps, FX derivatives, structured notes and interest rate hedging products, to name a few. Recent work includes acting on alleged LIBOR misrepresentation claims, advising several banks on coronavirus-related financing disputes and defending Quincecare claims.
Kate is also a specialist in Fintech litigation, advising both financial institutions and disruptors in the financial services industry on the civil risks arising from their use of data, new payments platforms, outsourcing, cryptocurrencies, cyber and their use of artificial intelligence (as well as being published in a number of external publications on such topics). Her speciality is defending collective data actions, where she is actively working with data and privacy experts to ensure that the question of "what is personal data worth" is properly addressed by the English courts in this emerging area of law.
Having previously been seconded as the EMEA Head of Litigation for a global bank, Kate also has a deep understanding of the challenges our clients' face.
Kate is active in using new techniques and technology to manage large scale litigation more efficiently for her clients, such as KIRA and Technology Assisted Review, and recently developed a platform to enable a bank to manage and monitor a portfolio of litigation spanning 5 jurisdictions.
Clifford Chance
Barrister
3VB
Saima Hanif KC is an expert in sanctions law involving the banking and the FS sector. She has acted for some of the largest financial institutions and is instructed by City law firms. Her work is cross-border, and she has represented clients in the Middle East, the British Overseas Territories and Europe, in disputes relating to the Iranian, Russian and Libyan sanction regimes. She is currently instructed as a legal expert witness on UK sanctions law, in four different Russian matters. In 2022, Saima was named in The Lawyer’s Hot 100 list, recognising stand-out excellence in the legal profession.
3VB
Partner
Penningtons Manches Cooper
Michael is a partner in Penningtons Manches Cooper's commercial dispute resolution division focussing on the financial services sector.
In his near 30 year career, Michael has worked in-house for financial institutions and in private practice where he has conducted group litigation for investors, acted in international arbitrations and litigation in a number of high profile cases arising out of financial and economic crises. He has also represented businesses and individuals in anti-money laundering and civil fraud cases.
The extent of a banker’s duty of care has featured in two of his more recent appeal cases: Playboy Club London Ltd v Banca Nazionale del Lavoro SpA [2018] UKSC 43, where he acted for the successful defendant bank before the Supreme Court and in Philipp v Barclays Bank UK Plc [2022] EWCA Civ 318, where he acted for The Consumers’ Association Ltd as an intervening party in the successful appeal.
Penningtons Manches Cooper
Agenda
Speakers:
Jonathan Cary - Partner - RPC
Saima Hanif KC - Barrister - 3VB
Michael Brown - Partner - Penningtons Manches Cooper
Kate Scott - Partner - Clifford Chance
Contact Us
If you are interested in this event and would like some more information before making your decision to attend please contact Maddi Briggs on +44 20 3398 8545 or email maddi@thoughtleaders4.com