Persons Identified In Schedule 1 v Standard Chartered Plc [2024] EWHC 1108 (Ch) (19 April 2024)

Persons Identified In Schedule 1 v Standard Chartered Plc [2024] EWHC 1108 (Ch) (19 April 2024)

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 and preparation. Claimants are required to progress individual reliance and limitation issues in parallel. Unless orders for non-compliance with questionnaire responses and quantum particulars are not made at this stage but further extensions will be on an unless basis. Claimants are ordered to pay the costs of the Part 18 application, subject to detailed assessment.

Citation
[2024] EWHC 1108 (Ch)
Parties
Claimant: Persons Identified in Schedule 1; Defendant: Standard Chartered PLC
Jurisdiction
England and Wales
Judgment Date
19 April 2024
Procedural Posture
Financial List Securities Litigation / Second Case Management Conference (cmc) With Interlocutory Applications and Directions
Outcome
Split trial ordered; trial date postponed; directions given for disclosure, particulars, and costs.
Legal Topics
Section 90 and 90 a FSMA Claims, Disclosure, Case Management, Split Trials, Reliance, Limitation, Quantum, Standing, Sanctions, Bribery, Class Actions
Financial Services Law Civil Procedure Securities Litigation Section 90 and 90 a FSMA Claims Disclosure Case Management Split Trials Reliance +6 more

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Parties

Persons Identified in Schedule 1

Claimant

Standard Chartered PLC

Defendant

Procedural Posture

Financial List Securities Litigation / Second Case Management Conference (cmc) With Interlocutory Applications and Directions

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 make 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 and preparation. Claimants are required to progress individual reliance and limitation issues in parallel. Unless orders for non-compliance with questionnaire responses and quantum particulars are not made at this stage but further extensions will be on an unless basis. Claimants are ordered to pay the costs of the Part 18 application, subject to detailed assessment.

Court Disposition

Split trial ordered; trial date postponed; directions given for disclosure, particulars, and costs.

Orders

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