The Commercial Court ruled that a bank waived privilege in all simultaneous communications with its lawyers in connection with certain transactions because the bank had used and used certain documents with legal advice to support a particular part of its case in the case. This case is relevant whenever legal advice is mentioned in third-party communications, including in connection with the provision of preferred material on a limited waiver basis. The judge considered the concept of „cherry-picking,“ which is a waiver of legal privilege, and the principles that the court will consider when deciding whether legal privilege has been waived. (1) PCP Capital Partners LLP (2) PCP International Finance Ltd v Barclays Bank Plc [2020] EWHC 1393 (Comm) Garner Hancock is a legal supplier authorised by Barclays, PCP requested further disclosure in the commercial legal proceedings in respect of contemporary documents concerning ASAs to the extent that they had previously been excluded from disclosure on grounds of privilege. Barclays opposed it mainly for two reasons (although others, including scope and proportionality, were also put forward): In support, the judge gave some examples that he believed would constitute a waiver or not: This recent decision of the Commercial Court on the disclosure of PCP Capital Partners LLP and another against Barclays Bank Plc [2020] EWHC 1393 (Comm) arose in the context of the ongoing dispute between the The plaintiff (PCP), an investment consortium and the defendant bank (Barclays), in which Barclays argued that PCP would receive the „same transaction“ (i.e. another private investor, both prorated in the form of fees or other payments for the investments made). PCP has made allegations in connection with certain written consultative agreements (SAAs) entered into by Barclays. Barclays – Garner & Hancock Independent Legal Advice In addition, Barclays agreed in 2016 to provide certain documents to the Serious Fraud Office (SFO) as part of a „limited waiver of privileges“. The FSO subsequently used several of these documents, including the reference to them in open session during the criminal proceedings. As a result, they lost their privileged status and became „open documents“.

Once privileged but now „open“, documents in a different context are still relevant to determine the issue of waiver No need to come to the office to sign your Barclays ILA certificate.