Given that it has long been a part of the sales pitch for English courts that they have the specialist judges to handle complex commercial matters – and London’s status as one of the world’s leading finance centres – it’s strange that it has taken this long. But it has been confirmed this week that the UK is to create a financial court to handle major banking disputes at The Rolls Building in London.
Lord Chief Justice of England and Wales, Lord Thomas, said in a speech at Mansion House on Wednesday (8 July) that the new regime for financial services disputes, initially dubbed The Financial List, will make sure banks ‘order their affairs on the basis of a sure knowledge of their rights and obligations in the market place’. He added that the Financial List would ‘provide the necessary environment for economic activity to thrive’.
