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A recognised body of derivatives expertise

Sivakumaran Sivathillainathan considers the case of Darby Properties which has put the spotlight on the admissibility of expert evidence in banking litigation

14 June 2017

In cases concerning the alleged mis-selling of derivatives by major banks to SMEs and individuals, the High Court has (despite routine opposition from defendant banks) permitted the parties to adduce expert evidence on issues such as the suitability and pricing of particular derivatives, the adequacy of pre-sale information about derivatives, and the standards of reasonably competent persons in the sale of derivatives in order to assist the court with resolving those proceedings at trial.

However, a recent High Court decision has given hope to defendant banks of being able to mount greater resistance to the involvement of expert evidence.

In Darby Properties Limited & another v Lloyds Bank PLC [2016] EWHC 2494 (Ch), the court refused permission to adduce expert evidence on the basis that there was no professional body that had recognised expertise in the field o...

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