Saima Hanif and Ravi Jackson secure mandatory ‘short notice’ injunction against Raphaels Banks

Saima Hanif, leading Ravi Jackson, successfully obtained a mandatory short notice injunction for French payment solutions provider Sogexia against Raphaels Bank.

Raphaels Bank, which has been the subject of enforcement action by the PRA and FCA, had threatened to terminate their contract with Sogexia for the provision of payment services, alleging that the Claimant had failed to comply with certain French legislation.

The High Court concluded that the balance of convenience lay firmly in favour of the injunction, which restrains Raphaels, for a period, from terminating the agreement. The decision is of note given the courts’ usual reluctance to grant mandatory short notice injunctions. The decision is reported here.

Saima is recognised by Chambers & Partners as a “fantastic lawyer” who “packs a punch as an advocate”. She has a “high profile” in the field of financial services and is currently counsel in the widely publicised SKAT ‘dividend arbitrage’ litigation.