The Persons Identified in Schedule 1 v Standard Chartered Plc

The Persons Identified in Schedule 1 v Standard Chartered Plc

The Claimants had not complied with the order to provide particulars of standing and clean trading data in an intelligible, consolidated form. The Court ordered the Claimants to produce a new document combining particulars of standing and relevant quantum information by 12 April 2024, and to provide clean trading data by 23 May 2024. The Court declined to make an unless order at this stage but indicated such orders may follow for continued non-compliance.

Parties
Claimant: The Persons Identified in Schedule 1; Defendant: Standard Chartered Plc
Jurisdiction
England and Wales
Judgment Date
06 June 2024
Procedural Posture
Civil Securities Litigation / Case Management Application (disclosure/particulars of Standing)
Outcome
Application granted in part; further orders for compliance made; unless order deferred.
Legal Topics
Particulars of Standing, Disclosure Obligations, Securities Litigation, Case Management Orders
Civil Procedure Financial Services Law Particulars of Standing Disclosure Obligations Securities Litigation Case Management Orders

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Parties

The Persons Identified in Schedule 1

Claimant

Standard Chartered Plc

Defendant

Procedural Posture

Civil Securities Litigation / Case Management Application (disclosure/particulars of Standing)

Legal Issues

  1. 1 Whether the Claimants have complied with the order to provide particulars of standing under s.90 and s.90A FSMA
  2. 2 Whether the Claimants have provided adequate and clean trading data as ordered
  3. 3 Whether the Court should make an unless order for non-compliance

Ratio Decidendi

The Claimants had not complied with the order to provide particulars of standing and clean trading data in an intelligible, consolidated form. The Court ordered the Claimants to produce a new document combining particulars of standing and relevant quantum information by 12 April 2024, and to provide clean trading data by 23 May 2024. The Court declined to make an unless order at this stage but indicated such orders may follow for continued non-compliance.

Court Disposition

Application granted in part; further orders for compliance made; unless order deferred.

Orders

  • Claimants to produce a consolidated document combining particulars of standing and quantum information by 12 April 2024.
  • Claimants (except those already compliant) to provide clean trading data by 23 May 2024.