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  • Posts Tagged ‘Swaps Mis-selling’

    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 […]

    Treasury Committee reports on Conduct in SME lending (FCA IRHP Mis-selling Review, TBLs, Hidden Swaps and GRG)  

    Posted on March 10th, 2015 by Jenny Julian

    The House of Commons Treasury Committee has today (10 March) published its report on Conduct and competition in SME lending. This report covers bank mis-sold interest rate derivatives, regulation of loans embedded with swaps (hidden swaps such as TBLs), criticisms […]

    Barrier to justice raised as court fees rise by 600%

    Posted on March 5th, 2015 by Jenny Julian

    In spite of Lord Pannick QC’s laudable motion of regret, the draft Civil and Family Proceedings (Amendment) Fees Order has been approved in the House of Lords; this will require those suing for breach of contract or personal injuries to pay an […]

    Interest Rate Hedging Product (IRHP) Review: Confidential agreement between FCA and major banks published

    Posted on February 12th, 2015 by Sivakumaran Sivathillainathan

    The Financial Conduct Authority’s confidential agreement with several major banks, which set up the Interest Rate Hedging Product (IRHP) Review, was published today. The Treasury Select Committee has also expressed concerns that the terms of the IRHP Review has allowed major […]

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    FCA IRHP Review – KPMG whistleblower: RBS fought to reduce size of interest rate swap redress

    Posted on December 4th, 2014 by Jenny Julian

    The Times’ City Editor, Harry Wilson, one of the journalists that three years ago broke the news of interest rate derivatives mis-selling by the major banks, reports today (based on the first hand account of a KPMG whistleblower) on flaws in […]

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    Swaps Mis-selling: Judgment in Crestsign Ltd v NatWest & RBS

    Posted on September 26th, 2014 by Jenny Julian

    Neutral Citation Number: [2014] EWHC 3043 (Ch) Case No: HC13B02029 IN THE HIGH COURT OF JUSTICE CHANCERY DIVISION Rolls Building, Royal Courts of Justice 7 Rolls Buildings, Fetter Lane London, EC4A 1NL Date: 26/09/2014 Before : MR TIM KERR QC (sitting […]

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    HMRC Advice for the tax treatment of Interest Rate Hedging Products (IRHP Review) redress payments

    Posted on July 28th, 2014 by Jenny Julian

    HMRC have recently provided banks that are party to the FCA IRHP Review scheme with generic tax advice leaflets to pass to customers who receive redress. HMRC says it wants to help you ensure that you correctly account for this […]

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