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ARTICLE · 09 MAY 2017

Finance Litigation: The Latest Cases And Issues In April 2017

Gowling WLG
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This month we review some interesting developments in the finance sector, including the court's view on the existence of an 'intermediate' duty of care on lenders, the need to get the basics...

United KingdomInsolvency/Bankruptcy/Re-Structuring
Ian Weatherall
Ian Weatherall
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This month we review some interesting developments in the finance sector, including the court's view on the existence of an 'intermediate' duty of care on lenders, the need to get the basics - like service - right, and the latest from the Supreme Court on the assignment and variation of pre-April 2013 conditional fee agreements (CFAs).

Does a lender have a duty to explain the financial implications of a fixed interest rate?

Lenders owe their customers a duty not to misstate facts that the customer could be expected to rely upon, but do they owe them any wider duty when providing information rather than acting in an advisory capacity? In Thomas and anor v Tridos Bank NV, the High Court held that it can.

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