Financial services

Whether you are a financial institution or an individual such as an investor navigating global financial markets, raising capital for your business or your assets, working in the regulated financial services sector or dealing with a dispute, the challenges have never been greater.

With deep expertise worldwide, applying both international and local knowledge, our team can help you protect, secure, and future proof your position.

A wealth of experience

Our banking and finance experts have a wealth of experience advising borrowers, acting for successful individuals and families particularly in respect of real estate, art, aircraft and shipping finance. Entrepreneurs and businesses frequently call on Withers when they are looking to arrange finance to support acquisitions and international expansion.

On the lending side, we work with many high-profile creditors, such as banks, suppliers and venture capitalists to assist with lending transactions globally, clients include the State Bank of India, HSBC, Barclays, Bank of China, Royal Bank of Canada and other financial institutions.

Resolving complex financial services disputes

We handle complex financial services disputes acting for individuals and their businesses across a wide range of issues from mis-selling claims to breach of contract, misrepresentation to breach of regulatory rules. We are currently assisting the liquidators of a property company on a dispute relating to over £35 million of losses incurred by interest-rate hedging products sold by a UK bank, and we have considered the regulatory obligations of financial institutions involved in a minority shareholding buy-out.

We frequently advise senior executives connected with a financial regulatory investigation. In the UK, we have extensive experience in investigations brought by the Prudential Regulatory Authority (PRA), the Financial Conduct Authority (FCA), the Financial Reporting Council (FRC), the Serious Fraud Office (SFO), the National Crime Agency (NCA) and proceedings brought under the Company Directors Disqualification Act. Our experts in Asia and the US are also frequently called on to deal with white collar investigations and a broad range of regulatory issues.

A global reach

In Singapore, our highly experienced, market-leading team represent a wide range of financial institutions in the state, including 80% of major insurance companies, all banks with a Singapore headquarter and over 70% of major regional and international banks who run their business in the bustling financial hub. Some of the long term clients include DBS Bank, United Overseas Bank, Maybank, HSBC and Credit Suisse, among others.

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US$150 million Russian dispute

Advised a Russian corporation in a dispute to a value of over US$150 million in relation to cancelled Credit Linked Notes

Professional negligence claim for interest rate swap deal

A world renowned hotel entered into an interest rate swap with several banks, but ended up suffering significant losses. The hotel's owners approached us to pursue the law firm who represented them in a professional negligence claim. The case was listed for a five week High Court trial, but we arranged a settlement before the trial commenced.

€225 million construction financing in Croatia

Advising a syndicate of banks in connection with the €225 million financing for the construction of part of a motorway linking Zagreb to Gorican in Croatia.

Successful financial services senior executive

Withers was called on to act for a well-known managing partner of an international investment firm when his reputation was under threat. Our robust approach to reputation management prevented the filing of false statements in a form U-5 (Uniform Termination Notice for Securities Industry Registration) that would have had a detrimental effect on his future career and earnings.

SG$549 million refinancing of Capital Square in Singapore

Acted together with MEAG, the asset manager of Munich Re (one of the world's leading reinsurers and risk carriers) and ERGO (one of the major insurance groups in Europe) in the SG$549 million refinancing transaction obtained by Queensley Holdings Limited for the commercial building in Singapore known as 'Capital Square'. Our Client subscribed for all the SG$151 million secured junior notes and SG$78 million of the preferred shares issued by Queensley Holdings Limited as part of the refinancing.

Swiss franc de-pegging claim

Representing one of the UK's leading financial spread betting companies, we are bringing a claim on behalf of our client against its prime broker and prime liquidity provider following losses incurred as a result of the de-pegging of the Swiss franc in 2015.

Multi-billion dollar hedge fund

Represented high-profile Managing Member of multi-billion dollar hedge fund in litigation involving the termination of an analyst.

Negligence claim for hedge fund exit advice

Our client suffered losses when they engaged a law firm to advise on their exit from the partnership of a hedge fund. We represented him on a claim of more than £5 million against the law firm for negligent advice.

General Atlantic Partners

Advised General Atlantic Partners and Oak Hill on Indian tax issues arising from the acquisition of Genpact in a deal valued over US$1 billion.

Singapore arbitration on behalf of a Malaysian bank

We are representing a Malaysian bank on an arbitration in Singapore under the ICC Rules regarding claims arising out of a software contract with a Swiss multinational corporation. The contract involved the replacement of the bank’s central banking system, with far reaching cross border implications, given the bank's status as a public institution. The claim relates to the Islamic status of the core banking system with a contract value in the region of USD $17 million.

Serco and Blackstone Group

Represented Serco and Blackstone Group in a major advance ruling and Indian tax litigation in relation to M&A valued over USD$500 million.

Defending the holders of USD$200 million in bonds

We successfully represented the holders of US bonds to the value of USD$200 million in lawsuits against a rating agency and an indenture trustee of a private placement

Representing Bar Mutual and its clients

We have been a longstanding adviser to Bar Mutual, advising the organisation on claims by the barristers it represents, or on third party proceedings brought by solicitors facing professional negligence claims. We also directly advise barristers protected by Bar Mutual

Art theft case for underwriters

Following the alleged theft of nine old master paintings from a European art gallery, we represented insurance underwriters in a fraud claim relating to the art work, and resulting in a successful settlement.

TMT Asia Ltd v BHP Billiton Marketing AG & Anor

We acted in the High Court of Singapore in disputes relating to market manipulation and freight forwarding agreements, and involving violations under the Securities and Futures Act (Cap. 289) and successfully resisted a striking- off application

A Singapore based bank

Acted for a foreign branch of a Singapore based bank in a transferable loan facility of up to Japanese ¥1.23 billion for a borrower in Mumbai. The facility was secured by a hypothecation deed with security agent being a national central bank.

An international trust in Singapore

Acted for an International trust in Singapore in the sale of US$165 million worth of debt owned by Indonesian company to several international banks.

Targetti Sankey SpA

We advised Targetti Sankey SpA in a €242 million syndicated loan to assist in the acquisition of the Danish lighting company Louis Poulsen Lighting A/S.

Credit Suisse First Boston LLC

Represented Credit Suisse First Boston LLC, as an initial purchaser, in the underwritten Rule 144A private offering of US$25 million 10% Senior Notes Due 2012 of PetroQuest Energy, Inc.

Asian Sovereignty fund

Advised an Asian sovereignty fund in its proposed acquisition of a state-owned PRC property development company through open bidding at an equity exchange.

Hedge fund founders

When the founding principals of two of London's largest hedge funds turned to Withers for help devising a more integrated approach to tax structuring in the UK and US, our international knowledge and global reach made us ideally placed to help. We came up with the most efficient strategy and also advised them on effective estate planning, whether or not they stayed in the funds.

International hedge fund asset-tracing

Acting for BVI court-appointed liquidators of multiple hedge funds, leading cross-border team, seeking recognition and recovery of assets in Hong Kong, Switzerland, Monaco, Channel Islands, Bahamas and US.

Senior executives

We have advised numerous senior individuals on their personal interests, both on joining and leaving PE backed businesses, as well as senior executives founding, joining and leaving private equity firms.

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