Bingham McCutchen is positioning itself to take on financial institutions in court as growing ranks of firms on both sides of the Atlantic prepare for increasing amounts of bank-on-bank litigation in the wake of the credit crunch.

The firm, a specialist in bondholder litigation, has loosened its procedures for acting against financial institutions to make it easier to take on such cases, while leading U.K. finance firm Allen & Overy has said it would litigate against a bank in limited circumstances.

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