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Shantanu Majumdar

| Call 1992

Profile: Banking and Financial Services

Experience and Expertise

A significant part of Shantanu’s commercial litigation practice comprises banking and financial services work involving guarantees and indemnities, capital markets and derivatives, complex loan agreements, documentary credits, demand guarantees and performance bonds.

He also has many years’ experience of factoring and other asset based lending (ABL). He has acted for (and occasionally against) the invoice finance arms of most of the UK’s banks and other asset based lenders in claims against factoring clients and their customers as well as against guarantors.


Cases and Work of Note

He has recently defended applications in the Commercial Court for injunctions (in support of a foreign arbitration) restraining demands on and payments under advance payment guarantees given in relation to the construction of a chemical processing plant in Asia.

He has been advising and acting in numerous claims against the investment banking arms of various well known banks in relation to their mis-selling of and negligent advice on interest rate hedging and other derivative products.

FBME Bank v Elwes & Aspin [2012] EWHC 2209 (QB) – successfully resisted the claimant bank’s interpretation of the payment terms of a guarantee.

DCD Factors & another v Ramada Ltd – 2009 onwards, acting for claimant trade financiers in ongoing £11m fraud, warranty & guarantee claim inc. resisting applications to strike out the claims and discharge freezing injunctions before Burnett J in February 2011 (Lawtel AC0128576) and resisting an application to vary freezing injunctions before Charles Hollander QC in April 2012 (Lawtel AC9401130).

Crastvell Trading Limited v Bozel SA [2010] EWHC 0166 (Comm) – US$15m summary judgment in complex multi-jurisdictional loan litigation – England, BVI, Luxembourg, Florida. (See further details under International profile)

Peekay Intermark Limited v Australia and New Zealand Banking Group Ltd [2006] 2 Lloyd’s Rep 511 (Court of Appeal), [2005] PNLR 42, Times June 10, 2005 (Comm Court) – derivatives – emerging market investments – Misrepresentation – Russia’s 1998 foreign debt default – this case first established the modern ambit of the doctrine of contractual estoppel.



Aluminium, fish and some unusual collateral: the pitfalls of lending on the security of your own shares – Butterworths Journal of International Banking and Financial Law – July/August 2011 – Robert Tchenguiz’s unusual loan arrangements with his Icelandic bankers.



22 May 2013 Shantanu spoke on Contract (implied terms, interpretation, entire agreement/non-reliance clauses and contractual estoppel) at the Solicitors Journal SJ Live conference at the Emirates Stadium.

14 May 2013 Shantanu (and Chris Buckley) gave a seminar on Freezing Injunctions at the Royal College of Surgeons.

Shantanu Majumdar
"A junior with excellent legal and technical expertise who really understands his clients' needs."

Chambers UK