Court figures show rise in FTSE 100 litigation

first_imgThe number of High Court cases involving FTSE 100 companies has risen 16% in the last year, research from legal information provider Sweet & Maxwell has revealed. In the year to 30 June 2010, the study shows there were 179 cases involving the FTSE 100, compared to 154 the previous year. Financial services companies, which account for 18% of the FTSE 100, were involved in more than half (58%) of these. Sweet & Maxwell said the rise in cases involving large companies indicated that the litigation arising from the economic downturn is yet to reach its peak. The research also found that the big four UK banks – Lloyds Banking Group, Barclays, Royal Bank of Scotland and HSBC – were the most frequent visitors to the High Court, accounting for 43% of all appearances by FTSE 100 companies in 2009/10. This figure is down on the 49% in the previous year. In 2009/10, Lloyds Banking Group topped the list of FTSE 100 companies to have litigated in the High Court, with 24 High Court appearances. Over the same period the previous year, the Group had 40 High Court appearances.last_img

Leave a Reply

Your email address will not be published. Required fields are marked *