Enyo » Banking Litigation

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Banking Litigation...

Enyo Law acts in the biggest cases before the English Courts and can act against any of the major financial institutions.

We have a wealth of experience and expertise acting for and against banks and other financial institutions in complex, cross-border, disputes. Our caseload is varied and includes small to medium-sized disputes as well as high profile, big-ticket financial services litigation. Given the firm’s “no conflicts” model, banking litigation is at the core of Enyo Law’s work and, in recent years, our expanding practice has seen the firm act in some of the most significant and anticipated banking and finance disputes in the City of London.

We have extensive experience and specialist knowledge which enables us to understand the financial structures which are central to the disputes on which we are instructed. Our experience enables us to understand our clients’ commercial concerns, and our legal advice and handling of disputes is tailored for each of our clients accordingly.

Our clients include states, sovereign wealth funds, banks, hedge funds, private equity funds, and high net worth individuals. We provide a high-quality service from inception to resolution of each dispute for each and every client whether domestic or international, claimant or defendant, individual or corporate.

Representative cases

Acting for the sovereign wealth fund, the Libyan Investment Authority, in relation to a range of matters, including: a c. USD2 billion bribery claim issued against Société Générale S.A. and others; a c. USD100 million claim issued against JP Morgan Markets Limited and others; and a c. USD1 billion claim issued against Goldman Sachs International, which sought to push the boundaries of the law of undue influence and unconscionable bargain with respect to a series of equity derivatives procured by GSI for the LIA. The claims against GSI and SocGen were included in The Lawyer’s Top 20 Claims for 2016 and 2017 respectively. It is a matter of public record that SocGen settled the LIA’s claim for a payment of c. USD2 billion.
Acting for the Bank of Portugal in the Supreme Court in relation to ongoing claims against Novo Banco in which Goldman Sachs, the New Zealand Superannuation Fund and others are seeking to recover approximately USD835 million.
Acting for Mr Bogolyubov in defending a claim brought by PrivatBank, the largest bank in Ukraine, which Mr Bogolyubov and Mr Kolomoisky established and owned prior to its expropriation by the Ukrainian state. PrivatBank alleges that fraudulent related party loans of in excess of USD5.5 billion were made to companies associated with Mr Bogolyubov and/or his business associate, Mr Kolomoisky. Described by The Lawyer as one of its ‘Top 20 Cases of 2022’.
Acting for three banks in a dispute relating to financing syndicated various loans to the Republic of Mozambique to a total value in excess of USD2 billion, the purpose of which included the acquisition of a state tuna fishing fleet and maritime security projects. Described by The Lawyer as one of its ‘Top 20 Cases of 2023’.
Representing Nadra Bank in a claim against it by HSBC Trustees as trustee in respect of loan notes issued by Nadra Bank under an alleged guarantee with a face value of USD61 million. The proceedings involved several offshore jurisdictions as well as England and multiple noteholders.
Representing Dmitry and Alexander Mints in defending a c. USD800 million Commercial Court claim by PJSC National Bank Trust and PJSC Otkritie Financial Corporation, both of whom are majority owned and controlled by the Central Bank of Russia.
Acting for the administrators of Greensill Bank AG (GBAG), a German bank and sister company to Greensill Capital (UK) Limited (GCUK). Both companies collapsed in March 2021 (and attracted particular press attention due to the involvement of David Cameron). The financial affairs of GBAG and GCUK were complex and closely connected, and there are a number of disputes about the ownership of funds totalling c. EUR60 million that are held by the administrators of GCUK.
Advising the Joint Liquidators in the widely-publicised case of Allied Wallet Limited (AWL), an FCA-authorised payment processing company (known as an Electronic Money Institution or ‘EMI’) that processed payments over global payment networks run by Visa and Mastercard as an intermediary between merchants and financial institutions, as well as a Payment Services Institution. AWL's regulatory failings raised untested questions of law (in particular as regards the status of the funds and how to address shortfalls) which the Joint Liquidators were required to seek the court’s assistance in resolving.

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