Persons Identified in Schedule 1 v Standard Chartered PLC

Persons Identified in Schedule 1 v Standard Chartered PLC

A split trial is ordered: T1 will address standing, Defendant's-side common issues, and common reliance issues; T2 will address all other reliance issues, limitation, causation, and quantum. The trial date is postponed to October 2026 to accommodate expanded disclosure. Unless orders for questionnaire compliance are not yet justified but any further extension will be on an unless basis. Quantum particulars to be provided on a rolling basis with a backstop date. Claimants to pay costs of the Part 18 application, to be assessed if not agreed.

Parties
Claimant: Persons Identified in Schedule 1; Defendant: Standard Chartered PLC
Jurisdiction
England and Wales
Judgment Date
14 November 2024
Procedural Posture
Civil Securities Litigation / Case Management Conference (second) Interlocutory
Outcome
Split trial ordered; trial date postponed; directions on compliance and costs issued.
Legal Topics
Case Management, Disclosure, Split Trials, Reliance in Securities Claims, Limitation, Quantum, Standing, Sanctions Breaches, Bribery Allegations
Financial Services Law Civil Procedure Securities Law Case Management Disclosure Split Trials Reliance in Securities Claims Limitation +4 more

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Parties

Persons Identified in Schedule 1

Claimant

Standard Chartered PLC

Defendant

Procedural Posture

Civil Securities Litigation / Case Management Conference (second) Interlocutory

Legal Issues

  1. 1 Whether to order a split trial and on what basis
  2. 2 Timetable for disclosure and trial
  3. 3 Whether to impose unless orders for non-compliance with directions

Ratio Decidendi

A split trial is ordered: T1 will address standing, Defendant's-side common issues, and common reliance issues; T2 will address all other reliance issues, limitation, causation, and quantum. The trial date is postponed to October 2026 to accommodate expanded disclosure. Unless orders for questionnaire compliance are not yet justified but any further extension will be on an unless basis. Quantum particulars to be provided on a rolling basis with a backstop date. Claimants to pay costs of the Part 18 application, to be assessed if not agreed.

Court Disposition

Split trial ordered; trial date postponed; directions on compliance and costs issued.

Orders

  • T1 to address standing, Defendant's-side common issues, and common reliance issues; T2 to address all other reliance, limitation, causation, and quantum issues.
  • Trial date postponed to October 2026; parties to agree revised timetable for disclosure and trial preparation.