World Online ruling: bank’s duty of care extended?

Jeroen Ouwehand, Leonore Bruining, Erwin Bos, Matthew Newick, Simon Thomas and Rosalind Gray, Clifford Chance LLP

In Europe, case law on the liability of investment banks on IPOs is rare. The recent ruling by the Amsterdam Court of Appeal in relation to the World Online IPO highlights how banks can find themselves liable when things go wrong. Banks may wish to take the decision into account when considering how to limit potential liability on future European IPOs.