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  • Posts Tagged ‘Hedging’

    The Sunday Times: Barclays sued for £4m by GPs for derivatives mis-selling

    Posted on July 3rd, 2016 by Jenny Julian

    Kiki Loizou, Small Business Editor of The Sunday Times, reports on one of our derivatives litigation cases where Barclays Bank plc mis-sold a highly toxic derivative (a 27-year £4.5m Rollercoaster Swap) to an NHS-funded GP practice in London. The Doctors […]

    LEXLAW Case Study: RBS pay £1m to settle derivatives mis-selling claim with social care provider

    Posted on July 2nd, 2016 by Jenny Julian

    The Royal Bank of Scotland PLC (RBS.L) has settled a High Court claim [1] over the mis-selling of two complex collar derivatives [2] in 2007 to Mehnaaz Chaudhry, a businesswoman who provides residential care and social support services to disadvantaged children and […]

    The Times: Queen’s award winner sues banks over mis-selling

    Posted on June 30th, 2016 by Jenny Julian

    The Times Brief reports that a company with a Queen’s award for its work in boosting British entrepreneurs is suing two of the country’s biggest banks after they refused to pay up for allegedly mis-selling the not-for-profit business a complicated […]

    RBS settles mis-sold swaps litigation (Westgate Healthcare Ltd v Royal Bank of Scotland Plc)

    Posted on April 24th, 2016 by Jenny Julian

    Today’s Sunday Times, reports on settlement in the case of (1) Westgate Healthcare (Aylesbury) Ltd (2) Westgate Healthcare (Hemel Hempstead) Ltd (3) Westgate Healthcare Ltd v Royal Bank of Scotland Plc [2014-522 : CL-2014-000186] which has reportedly settled for around […]

    LIBOR fraud arguable in swaps mis-selling claims; Resetting the 6-year contractual limitation clock

    Posted on November 26th, 2015 by Sivakumaran Sivathillainathan

    In a damaging judgment for RBS, the High Court has ruled that LIBOR fraud allegations against RBS in a derivatives mis-selling claim are “plainly properly arguable” and that there is evidential “support for an inference of fraud and dishonesty at the highest […]

    Legal duty to conduct the FCA IRHP Review Fairly – Suremime v Barclays Bank

    Posted on August 3rd, 2015 by Sivakumaran Sivathillainathan

    The High Court has decided that it is arguable that major banks owe duties of care to their SME customers to conduct the FCA Interest Rate Hedging Product (IRHP) Review in accordance with the rules agreed with the Financial Conduct […]

    The Sunday Times: ‘We will battle on, warn victims of bank mis-selling’

    Posted on August 2nd, 2015 by Jenny Julian

    The Sunday Times reports on the largest ever publicly disclosed settlement of an interest rate swaps mis-selling case. The derivatives in question were sold to a Care Home by Lloyds Bank, which refused to compensate their customer via the FCA-backed IRHP Review […]

    The Sunday Times: ‘Lloyds pays up on rate swap wrangle’

    Posted on July 26th, 2015 by Jenny Julian

    Kiki Loizou, of The Sunday Times, reports on our Financial Services Litigation team’s recent successful settlement of a swaps mis-selling litigation case.  A multi-cancellable swap was sold to a Care Home operator by Lloyds Bank. The bank refused to compensate […]

    Statement by Coin Group re Litigation Settlement with Lloyds Bank Plc

    Posted on July 24th, 2015 by Jenny Julian

    LLOYDS BANK – INTEREST RATE HEDGING PRODUCT (IRHP) MIS-SELLING £4.6 MILLION GBP LITIGATION SETTLEMENT WITH SME CARE HOME LONDON, UK – Lloyds Bank Plc (LLOY.L) has settled a High Court claim[1] over the mis-selling of three complex financial derivatives[2], sold initially […]

    Judicial review of FCA IRHP swaps mis-selling review scheme permitted

    Posted on April 25th, 2015 by Sivakumaran Sivathillainathan

    Holmcroft Properties Limited v KPMG (Daily Telegraph, April 25, 2015, Business 33). Holmcroft wins permission to bring a judicial review against KPMG’s conclusion that the redress offered in the redress scheme run by Barclays and reviewed by KPMG was “appropriate, fair and […]