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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 & insights

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Publications: 24 JUNE 2020

The governing law of an arbitration agreement and why it matters

The Court of Appeal ruled that, where there is no express choice of law governing the arbitration agreement, there is a strong presumption that the parties have impliedly chosen the law of the seat.…

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Publications: 03 APRIL 2020

Covid-19 coronavirus: how the APAC courts and arbitral institutions have adapted to the challenge

As Covid-19 coronavirus continues to spread across the globe, the various forums for dispute resolution worldwide find themselves presented with novel challenges, in particular relating to issues…

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Publications: 25 FEBRUARY 2020

Arbitration: English seat does not guarantee English governing law and anti-suit injunction

The English High Court (Andrew Baker J) has refused to hear an application for an anti-suit injunction to restrain proceedings in Russia allegedly in breach of an arbitration agreement.  The court…

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Publications: 27 JANUARY 2020

Updated Equator Principles Finalized

Updated Equator Principles with stronger standards and a broader scope were finalized in November 2019 and are set to come into effect in July 2020. 

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Awards

  1. Band 1, Dispute Resolution, Global-wide, Chambers Global 2019
  2. International Arbitration Firm of the Year, Benchmark Litigation Asia-Pacific Awards 2019
  3. Best Arbitration Team of the Year in Spain and Portugal, 2019 
 

Recognition