A new specialist list hosted by the Rolls Building to deal with complex financial markets cases is expected to begin work next Monday.
The financial list will provide a specialist dispute resolution forum for claims of £50m or more, or cases that raise issues requiring particular expertise or of general importance to the financial markets.
A spokesperson for the Judicial Office said the list will take cases that come into the Commercial Court and Chancery Division.
Cases will go on the list from the next legal term, which begins on 1 October. However, the new arrangements are not expected to become fully operational until Monday, the Gazette understands.
Five judges from the Chancery Division and five from the Queen’s Bench Division will be docketed to the cases, ‘meaning they will deal with the same case from beginning to end, which will speed things up,’ the spokesperson said.
Chris Webber, senior associate at international firm Berwin Leighton Paisner, said he expects some delay before the first cases progress to the point ‘where we can see how it is working’.
Webber said there would be a minimum of four weeks before the defendant filed a defence, followed by a further period – usually 21 days – for the claimant to file a response.
‘During that stage there will be little real difference between a list case and a non-list case,’ he said.