London Woos Oligarchs and Banks With Hub for Big-Money Lawsuits - Bloomberg Business

London Woos Oligarchs and Banks With Hub for Big-Money Lawsuits - Bloomberg Business:



"London is revamping its court structure in a bid to cement its role as the place for Russian oligarchs, global banks and corporate giants to thrash out big-ticket legal disputes.



The plan will bring together cases involving financial claims valued at 50 million pounds ($77.3 million) or more, John Thomas, the top judge in England and Wales, said in a speech at London’s Mansion House last week. The new service will examine complex cases involving financial markets.



“For the first time we will have judges focused on financial disputes who would have heard the case from start to finish, saving time and money,” said Ian McDonald, head of the London commercial dispute resolution practice of Chicago-based law firm Mayer Brown LLP."



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