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Property Developer Seeks To Keep RBS On Hook In Swap Suit

Law360, London (November 26, 2018, 8:03 PM GMT) -- A health care property developer has said Royal Bank of Scotland PLC cannot dodge the firm’s High Court swaps misselling suit, rejecting the bank’s claim that the company is barred from alleging it bought the swap based on representations made by the bank.

In response to the bank’s defense, Prospect Medical Ltd. said RBS has wrongly tried to rely on clauses in its terms of business, which state that the firm should have got its own independent advice about the product, in an attempt to dodge the claim because the company is barred, or estopped, from pursing the suit.

“The defendant’s...

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