“The defendants are sparing no expense in their attempts to stifle this litigation,” Patel declared. “It’s a relentless assault on the integrity of the claims.”
Patel argued that the majority of claimants had already provided required information following a prior court order. He contended that the bank’s demands exceeded the scope of the order and would only serve to prolong the legal battle needlessly.
Judgment Looms
With tensions running high, Judge Leech reserved his decision, promising to deliver his ruling on Thursday. The outcome of this legal clash could have far-reaching implications for both Standard Chartered and the investors.
StanChart £1.4B Sanctions Suit : Allegations and Denials
The investors allege that Standard Chartered’s publications between 2007 and 2019 concealed or downplayed sanctions breaches, leading to financial losses. Standard Chartered vehemently denies these allegations, asserting that it has been transparent in its disclosures.
The investors are represented by Shail Patel KC and William Harman of 4 New Square, instructed by Signature Litigation LLP. Standard Chartered’s legal team is led by Adrian Beltrami KC of 3 Verulam Buildings, instructed by Herbert Smith Freehills LLP.
