A £275m (£169m) dispute involving UBS and HSH Nordbank – cited as the first true bank-on-bank dispute to hit the UK as a result of the credit crunch – has been refused jurisdiction in the English courts following a Court of Appeal ruling today (18 July).
The judgment, handed down by Lord Justice Ward, Lord Collins of Mapesbury and Lord Justice Toulson, will be seen as a blow for UBS after the bank appealed a ruling handed down by Mr Justice Walker last July.
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