RBS and Lloyds among FTSE 100 firms most seen in UK’s High Court, survey claims

5 October 2010

The Royal Bank of Scotland (RBS) and Lloyds are among the FTSE 100 firms which have made the most appearances in the UK’s High Court during the last 12 months, a new survey has revealed.

According to a study by legal firm Sweet & Maxwell, lawsuits involving the likes of RBS, Barclays, Lloyds and HSBC account for almost half of all cases featuring firms from the top 100.

Up to 58 per cent of the cases involved firms from the financial services industry, the report also showed.

In the study, the law firm said: “Banks are likely to feature frequently in hard-fought litigation by virtue of the huge volume of complex financial transactions that they are involved with."

"This rise [in court appearances by the FTSE 100] suggests that the inevitable flood of litigation following the economic downturn has yet to peak," the survey added.

The number of court appearances by FTSE 100 firms increased by 16 per cent year-on-year to reach 179.

Sweet & Maxwell predicted that the number would continue to rise as claimants have as long as six years in which to launch a claim.

By Jim Ottewill

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