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Sub practice
Sub practice

Financial Services Arbitration

Allen & Overy is one of the few law firms worldwide with genuine expertise in arbitrations in the banking and financial services sector.

We advise major international banks and corporates, combining a deep understanding of complex financial products with extensive experience of international arbitrations under all major rules. Our arbitration lawyers work seamlessly with our top-tier Banking and Finance and Capital Markets experts.  

Our experience of banking and finance arbitration covers all major rules and fora, including the LCIA, ICC, SIAC, and HKIAC, as well as the UNCITRAL Rules. We have expertise in arbitrations relating to loan agreements, security arrangements, bonds and complex derivative instruments, as well as disputes arising from government measures in the wake of financial crises. Unusually, we also have extensive experience representing international banks and funds in investment treaty arbitrations.

Our arbitration practice operates from all the leading financial centres and our arbitration lawyers understand local, as well as international, financial markets. Our market leading lawyers have published extensively on adapting arbitration to the needs of financial services users. 

Key highlights of our work include:

  • Defeating a EUR200 million claim against Bank of Cyprus, in an arbitration under ICC Rules which arose from the Eurozone crisis.
  • Successfully representing a global financial institution in an investment treaty claim against Sri Lanka, for interfering with obligations in an oil hedging agreement between the bank and a state-owned oil company. This is the first case to recognise that financial instruments qualify as an investment for the purposes of these claims.
  • Acting for a major fund manager in the defence of an LCIA arbitration brought by a substantial client concerning the management of fixed income funds in excess of USD40 billion. We acted in the LCIA arbitration and in the mediation of the claims to successful settlement.
  • Drafting the ISDA Arbitration Guide (2nd edition published in 2018).

News and insights

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Publications: 05 May 2022

Singapore allows “No-Win, No-Fee” and “No-Win, Less-Fee” arrangements for arbitration and SICC proceedings

Historically, Singaporean law prohibited third party funding arrangements and outcome-related fee structures (ORFS) such as “No-Win, No-Fee” or “No-Win, Less-Fee”. 

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Publications: 03 May 2022

Costs, damages and duration in investor-State arbitration in the CEE Region

Our new study on costs, damages and duration in investor-State arbitration in the CEE Region examines 105 investor-State dispute settlement (ISDS) cases conducted under ICSID, UNCITRAL and other…

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Publications: 06 April 2022

The First ICSID Flagship Amendments

The first amendments to the ICSID Rules since 2006 will be available for use from July 2022 onward, bringing greater transparency to the process and offering clearer guidance on key issues such as…

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Publications: 28 March 2022

Update on Dubai Decree No. 34 of 2021: LCIA to administer DIFC-LCIA arbitrations commenced on or before 20 March 2022, DIAC to administer cases commenced from 21 March 2022

The Dubai International Arbitration Centre (the DIAC) and the London Court of International Arbitration (the LCIA) have now reached an agreement which should help to resolve a number of uncertainties…

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Awards

  1. Band 1, Dispute Resolution, Global: Multi-Jurisdictional, Chambers Global 2022
  2. International Arbitration Firm of the Year, Benchmark Litigation Asia-Pacific Awards 2020
  3. Leading firm (top tier) ranking in the “Leaders League” table for International Arbitration (Spain) 2022
 

Recognition

Related content

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International Arbitration Review

Recent developments and emerging trends in international arbitration law and policy