Skip to main content Accessibility help

We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.

Close cookie message
×
  1. Home
  2. Search

Refine search

Refine search

Access:
Content type:
Publication date:
Apply   From and To filters
Subject: Show more
Journals Show more
Publishers: Show more
Societies Show more
Series: Show more
Collections: Show more

Actions for selected content:

Select all | Deselect all
  • View selected items
  • Export citations
  • Download PDF (zip)
  • Save to Kindle
  • Save to Dropbox
  • Save to Google Drive

Save Search

You can save your searches here and later view and run them again in "My saved searches".

Please provide a title, maximum of 40 characters.
Cancel
×

1 results

  • 10 - The Future of the Financial Courts

  • Jo Braithwaite, London School of Economics and Political Science
  • Book:
    The Financial Courts
    Published online:
    19 December 2020
    Print publication:
    07 January 2021, pp 337-364

  • Summary

    One the basis of the decisions handed down over the last three decades, and in particular since 2008, this book has argued that the English ‘Financial Courts’ have taken a market-minded or ‘macro’ perspective when adjudicating derivatives disputes. This approach has evolved with the markets themselves, as the courts have sought to respond to the exigencies of global markets operating on standard terms containing the default choice of English law and the English courts. In this sense, the English courts coped well with the unprecedented demands of the last financial crisis, including the spike of cases relating to the collapse of Lehman Brothers and novel and complex challenges to the administration of valuation and close-out in volatile markets. This approach has, however, proved more problematic in those cases reflecting the sheer diversification of the modern derivatives markets, so that end-users now include individuals and other types of non-sophisticated customers, an issue which does not have to be factored in by cases on standardised commercial terms used in sectors such as shipping.