PART 63A - FINANCIAL LIST
Contents of this Part
|Scope of this Part and interpretation||Rule 63A.1|
|Specialist list||Rule 63A.2|
|Application of the Civil Procedure Rules||Rule 63A.3|
|Proceedings in the Financial List||Rule 63A.4|
(1) This Part applies to claims in the Financial List.
(2) In this Part and Practice Direction 63AA, “Financial List claim” means any claim which—
(a) principally relates to loans, project finance, banking transactions, derivatives and complex financial products, financial benchmark, capital or currency controls, bank guarantees, bonds, debt securities, private equity deals, hedge fund disputes, sovereign debt, or clearing and settlement, and is for more than £50 million or equivalent;
(b) requires particular expertise in the financial markets; or
(c) raises issues of general importance to the financial markets.
(3) "Financial markets" for these purposes include the fixed income markets (covering repos, bonds, credit derivatives, debt securities and commercial paper generally), the equity markets, the derivatives markets, the loan markets, the foreign currency markets, and the commodities markets.
(1) The Financial List is a single specialist list. Claims in the Financial List may be commenced in the Commercial Court or the Chancery Division in London.
(2) The Chancellor of the High Court and the Judge in Charge of the Commercial Court have joint overall responsibility for all claims in the Financial List.
These Rules and their practice directions apply to claims in the Financial List unless this Part or a practice direction provides otherwise.
(1) A Financial List claim may be started in the Financial List.
(2) All claims in the Financial List will be allocated at the time of the first case management conference to a designated judge who is a Financial List judge.
(3) A Financial List judge is a judge of the Chancery Division or the Commercial Court who has been authorised to try claims in the Financial List.
(4) Rule 30.5 applies to proceedings in the Financial List, except that a Financial List judge may order a claim to be transferred to any other specialist list.
(5) Rules 58.5 to 58.13 and 58.15 apply to claims in the Financial List in the same manner as they apply to claims in the Commercial List.