Banking & Financial

We have significant experience in acting for and against financial institutions, including in relation to inter-bank disputes. This wide experience enables our dispute resolution team to respond quickly and pragmatically to the ever-varying disputes that arise as a natural result of life in the international financial markets.

Repos, securities lending, rate and currency swaps and the many other derivatives used to make your money work harder can each give rise to their own particular set of problems when transactions don’t go as planned or when financial markets move unexpectedly. With experience hardened in the heat of more than one credit crisis, our team draws on practical experience, gained domestically and across borders, to guide clients to pragmatic solutions across a wide range of derivatives disputes and institutional insolvencies.

We have particular experience in advising on disputes relating to the enforcement of guarantees (including financial institution unilateral undertakings) both in England and abroad.

In the retail financial services sector product innovation has not always had a happy history. The enhancement of credit transactions by the use of derivatives such as interest rate and currency swaps have presented real challenges in the consumer and small business market, as have equity release mortgage products.  Our team has handled a wide variety of claims focussing on the complexities of such products and whether they were suitable for sale to small businesses and individual consumers, or whether they created an unfair relationship with consumers giving rise to remedies under developing Consumer Protection legislation.

Representative Banking & Financial Work

Examples of our team’s banking & financial experience include:

  • Advised the London branch of Landsbankki on securities lending disputes including the first High Court case to apply the European regime for cross-border financial institution insolvency.
  • Advised the administrators of an international investment bank on a range of derivatives disputes.
  • Advised a Central European financial institution on the defence of a claim taken by a Fortune 100 construction bond issuer against it under a guarantee.
  • Advised an Eastern European bank on the defence of a claim taken by the subsidiary of its clearing bank (acting on behalf of noteholders) under an alleged guarantee.
  • Advised numerous consumers on the remedies available to prevent or inhibit enforcement of Shared Appreciation Mortgages.

Key contacts:

Photo of Colin Richman

Colin Richman

Partner Dispute Resolution
Work 37-41 Bedford Row London WC1R 4JH United Kingdom Tel: +44 (0) 20 7611 4898

Biography

Colin joined Teacher Stern in 1987. His current cases mainly involve landlord and tenant issues, secured lending recoveries, professional negligence claims, and real estate joint venture / co-ownership disputes. He heads the Real Estate Disputes and Loan & Security Enforcement teams across all areas of property and secured lending dispute work, and works with a number of key clients to co-ordinate and implement effective asset management strategies and loan portfolio recoveries.

His experience also includes construction claims, planning and compulsory purchase advice, contentious insolvency work, advising parties and tribunals in commercial arbitrations, intellectual property claims and technology disputes.

Representative Experience

Colin has:

  • Advised and acted for mortgagees and fixed charge receivers in connection with their commercial and residential investment loan portfolios.
  • Advised on and implemented strategies to enable site owners to secure vacant possession for redevelopment purposes.
  • Advised shopping centre landlords and asset managers in achieving successful outcomes to lease renewal programmes at major schemes.
  • Advised on numerous rent reviews and  arbitration awards.
  • Obtained substantial settlement in Technology and Construction Court action against specialist contractors for defective development works.
  • Advised and acted for landlords and lessees on substantial terminal tenancy dilapidations claims.

Career History

Partner, Teacher Stern

Partner, Portner and Jaskel 1985–87

Solicitor, then Partner, Farmar Miller 1982-85

Trained at Kaufman Kramer & Shebson 1980-82

Education

Carmel College

St Catherine’s College Oxford

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37-41 Bedford Row London WC1R 4JH United Kingdom