If banks thought their problems in structured finance were almost over, a growing band of lawyers is bidding them to think again. An anticipated wave of court cases involving losses resulting from structured finance products is emerging in Europe.

Following in the footsteps of the US, where cases against financial services firms increased significantly last year compared with the previous year, according to data from advisory firm Nera Economic Consulting, banks in Europe are increasingly being forced to defend their roles in either selling or structuring complex financial products.